Grants and Rebates
The State of Texas and other organizations may offer grants and rebates for qualifying companies. Katy Area EDC may help facilitate applications on behalf of qualifying companies.
Texas Enterprise Fund
Administered by the Texas Economic Development Bank, this grant program provides funding to projects that realize a significant rate of return of the public dollars being used for economic development in Texas. Capital investment, job creation, wages generated, financial strength of the applicant, applicant's business history, analysis of the relevant business sector, and federal and local government and private sector financial support of a project must be significant factors in approving the use of the Enterprise Fund. The Governor, Lieutenant Governor, and the Speaker of the House must unanimously agree to support the use of the Texas Enterprise Fund for each specific project. In the Katy Area, eligible projects must create at least $5,000,000 in capital investment and 75 new jobs at the county average weekly wage over a three year period.
Municipal Utility District
Municipal Utility Districts (MUDs) may help finance the cost of water, waste-water, drainage and detention required for development, usually (but not necessarily) in unincorporated areas. MUDs have the power to levy an ad valorem tax to repay developers for the provisions of needed services plus the operation and maintenance of district facilities. MUDs may reimburse developers from between 70% to 100% for water, sewer, drainage and detention costs, as well as associated financing costs. Some MUDs have road construction powers as well. MUDs have also recently been given broader powers to provide such additional services as garbage collection, security, and parks construction.
"4A" and "4B" Sales Tax - City of Fulshear
The "4A" and "4B" sales tax is an economic development sales tax that has been approved by voters in more than 450 communities across Texas. The tax revenues are in two forms, the original "4A" tax and the more flexible "4B" tax, are used to finance economic development programs and incentive that create primary (or direct) jobs. The City of Fulshear has "4A" and "4B" corporations.
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. The CenterPoint Energy-Commercial and Industrial Standard Offer Program, (C&I SOP) may pay Project Sponsors incentives based on the savings in peak demand and in energy savings that their projects achieve. Demand savings incentives are paid for the maximum one-hour average demand reduction that occurs when the newly installed system is operating at peak conditions during the summer period. The amount of the rebate is as follows: $175 per kW reduction and $0.060 per kWh saved. The CenterPoint Energy Share-Load Management Standard Offer Program may pay a participating Customer (or the Project Sponsor, if different) up to $40 per kW of verified curtailed load each year of participation. For example, a Project Sponsor which contracts for 1,000 kW and consistently curtails 1,000 kW or more when asked would earn up to $40,000 each year. The program was developed to pay incentives to participating Project Sponsors (customers and/or energy service companies) for curtailment of electric consumption on short notice during peak demand periods. Incentives are based on verified demand savings that occur at CenterPoint Energy distribution or eligible institutional customer's site as a result of an interruption.