San Patricio County is home to numerous institutions providing financial assistance to companies within the community. While San Patricio EDC does not offer any financing, our organization maintains a growing list of resources and partners that are here to assist a wide variety of companies. Whether your company is small or large, domestic or international, we can assist you in finding institutions to help you establish and grow your business in San Patricio County.
The Texas Enterprise Fund (TEF) provides the state’s leaders with a cash grant to be used as a financial incentive tool for projects that offer significant projected job creation and capital investment. The fund can be used for a variety of economic development projects including infrastructure and community development, job training programs, and business incentives. The TEF is used primarily to attract new business to the state or to assist with the substantial expansion of an existing business as part of competitive recruitment.
The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation and capital investment in economically distressed areas of the state.
The Enterprise Zone Program establishes a process that clearly identifies severely distressed areas of the state and provides local and state incentives to induce private investment in those areas. The program is set up to remove unnecessary government regulatory barriers blocking economic growth, and provide tax incentives and economic development program benefits. Designation of an area as an enterprise zone is also designation of the area as a reinvestment zone for tax increment financing, tax abatement, and limitations on appraised value.
Many San Patricio County industries benefit from the flexibility and deferral or elimination of duties payments, provided through Foreign Trade Zone #122.
U.S. foreign-trade zones (FTZs) are sites near an entry point into the United States, where foreign and domestic merchandise is considered to be outside the country, and therefore outside of U.S Customs territory for purposes of duty payment.
The Historically Underutilized Business (HUB) Program was created to promote full and equal procurement opportunities for small, minority- and women-owned businesses. Companies interested in doing business with the state are encouraged to become HUB certified. This is accomplished by completing an application and submitting it to the Texas Comptroller of Public Accounts(CPA). Once approved, the company is considered “certified” and agencies using them on contracts receive credit toward meeting established HUB goals. The HUB Program is a state level program required by law and managed by the CPA.
We will work with you to find the right spot for your business whether it’s in the county or the region. Whether it’s information you seek or connections to individuals or companies, the San Pat EDC staff is here to help you. We can connect you to the right information and people that you need to be successful in your efforts.
San Patricio County offers Tax Abatements to attract long-term investment and to establish new jobs in the area in order to enhance the economic base of area taxing entities. San Patricio County stays competitive with other counties across the nation currently offering tax inducements to attract new plant and modernization projects. The county has created these tax abatements to ensure a local tax climate and start-up taxes remain low and attractive to plant installations and expansions.