Katy, Texas is igniting new sparks of innovation in recruiting, expanding and starting up new businesses. Katy Area EDC will work with your company to partner to identify, assemble and administrate the incentives and programs that will benefit your Company’s bottom line.
Katy’s incentive advantages include, but are not limited, to the following:
- Texas Economic Development Act (Chapter 313): Katy has a unique position here, as the investment threshold criteria are lower than communities in neighboring cities or areas. Katy Independent School District’s threshold investment is $30 million, versus $80,000,000 to $100,000,000 in neighboring areas. Recently, Katy ISD approved submitting an application to the State of Texas for Weatherford Artificial Lift Systems for a 425 job, $90 Million project.
- Property Tax Abatement: The City of Katy recently approved guidelines for property tax abatement for the new 500,000 sq. ft. Distribution Center Project. Additionally, several Municipal Utility Districts, such as the Waller County Fort Bend Municipal Utility District #2, have begun to consider property tax abatements as well. Property tax abatement is available from all three counties and all three cities located in the Katy Area.
- Municipal Utility District Incentives: Some Municipal Utility Districts, such as the Cimarron MUD have developed incentives based on sales taxes. Cimarron MUD, which is located near I-10 and Grand Parkway is working to create partnerships and seeking to grow office related businesses in its region.
- Texas Enterprise Zone (TEZ): With the new 2010 Census designations, Katy has four Texas enterprise zones. The Katy Area EDC staff is experienced with developing and administrating TEZ’s applications.
- Energy Incentives: CenterPoint Energy, the local distribution company for Katy electricity, offers several grant / rebate programs for companies that implement energy efficiency programs and / or equipment. These programs are available to small and large load commercial and industrial customers.
- Telecommunications Incentives: Katy’s main telecommunications utility, Consolidated Communications, on a case-by-case basis, may offer construction cost waivers to qualified economic development projects. Consolidated may waiver the cost of extending service to the building site.
- Goodwill Incentives: One of the few EDC’s in the Houston Area to offer this assistance, Katy Area EDC helps companies establish roots by making a smooth relocation transition. On a case-by-case basis, Katy Area EDC staff assembles “Goodwill” incentives with local companies which include discounts for services or products associated with the relocation.
- Bank Alliance: As one of only three economic development organizations in the Houston Region that has a Bank Alliance, the mission of the Alliance is to improve the ability of local financial institutions to finance economic development projects and thereby create jobs and capital investment in the Katy Area. The purpose is to review commercial projects and possibly pool and participate loans, increase communication, interaction, and cooperation among Katy Area banks and financial institutions.
- Foreign Trade Zone: Katy has a Foreign Trade Sub-Zone located at the Academy Sports and Outdoors campus. Efforts are underway to develop an application for a new General Purpose Zone for a new Distribution Center at the West Ten Business Park in the City of Katy.
The material contained in these sections are provided for informational purposes only and cannot be construed as a commitment. Assumptions are based on creating jobs and providing a capital investment. Total jobs and capital investment have been included as eligible costs for the various incentive programs available. However, actual jobs and capital investment may vary from the assumptions made due to final determination of program eligibility and site location.