State of Texas Incentives

 

Business Enterprise of Texas (BET)

The Business Enterprises of Texas (BET) is a federally sponsored, state-administered program that provides food management opportunities for Texans who are blind. Some of the food managing services are: vending machines, deli-style operations, snack bars and full-service cafeteria. All equipment, installation, furniture, design assistance and management services are provided to the employer at no cost.

 

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Capital Access Program

The Capital Access Program was established to support the availability of financing for businesses and nonprofit organizations that face barriers in accessing capital or fall outside the guidelines of conventional lending. Use of proceeds may include working capital or the purchase, construction, or lease of capital assets, which include buildings and equipment. Construction or purchase of residential housing and simple real estate investments (excluding those occupied by the applicant's business), are ineligible uses of capital access proceeds.

This program is for businesses with fewer than 500 employees.

 

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DRS Rehabilitation Technology Resource Center (RTRC)

The DRS Rehabilitation Technology Resource Center keeps track of the latest innovations in equipment and engineering services designed to help people with disabilities. This equipment and services can be used for employment purposes as well other aspects of the person’s life. The RTRC can assist in finding equipment, loaning the equipment on a trial basis, explaining how to use it and how to purchase it.

In partnership with the Texas Transportation Institute, the RTRC also specializes in the use and safety of vehicles modifications for people with disabilities.

 

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Economic Development Bank

The Economic Development Bank is Texas' newest tool to promote job creation. The Bank provides incentives to businesses wishing to relocate or expand in Texas, as well as assist local communities in accessing capital for economic development.

This web site has links to programs that promote economic growth and development for Texas ’ businesses.

 

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Emerging Technology Fund (ETF)

The Emerging Technology Fund web site lists how much and in what areas money from the ETF will be allocated. These areas include: grants for emerging technology research, grants for acquisition of research superiority and Regional Centers of Innovation and Commercialization project activities.

 

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Employment Resources for Texas Employers and People with Disabilities

This web site gives information, resources and links for employers who hire people with disabilities and disabled individuals who are employed or looking for work.

 

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Employer Information: Work Opportunity Tax Credit, Welfare-to-Work Tax Credit

This guide contains information on federal and state tax credits and savings for Texas employers. It also has sample and blank applications for some of the various tax credit programs.

 

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Historically Underutilized Business (HUB) Program

The goal of the Historically Underutilized Business Program is to encourage and effectively promote the use of minority and woman-owned businesses in the Department of Assistive and Rehabilitative services procurement activities. A HUB is defined as a business formed for the purpose of making a profit in which at least 51 percent of the business is owned, operated, and controlled by American women, a person with a disability, or a racial minority.

This web site goes on to list the different racial minorities that qualify for the Historically Underutilized Business (HUB) program. It also lists the benefits of being a HUB. Among the advantages is that the Texas Legislature requires all state agencies to make a good faith effort to assure that HUBs receive a portion of its contract dollars.

 

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Monahans, Texas

Monahans, Texas is a rural community located in West Texas that is committed to building a strong, diversified economy. Businesses located in Monahans can qualify for loans and other incentives by filling out the following application for incentives.

 

This web site provides information and links on tax abatements and refunds, job training grants and project financing options.

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On-The-Job and Customized Training

The On-The-Job and Customized Training program offers opportunities to participants who have job related skills and knowledge. Participants train as employees and acquire new skill while receiving wages and some benefits. Employers are reimbursed for part of the participant’s wages during the participant’s training period, while having the services of a full-time employee.

Customized Training further benefits an employer by tailoring a training program to the specific needs of the employer, especially in the area of introducing new technologies or procedures. Training can even be offered to incumbent employees in order to upgrade their skills and knowledge.

 

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Self-Sufficiency Fund

The Self-Sufficiency Fund Program, administered by the Texas Workforce Commission (TWC), assists businesses by designing, financing and implementing customized job training programs in partnership with public community and technical colleges, a higher education extension service, and community-based organizations for the creation of new jobs and/or the retraining of existing workforce. The goal of the Self-Sufficiency Fund is to assist recipients of Temporary Assistance for Needy Families (TANF), Food Stamps, and Needy Parents to obtain training, get jobs, and become independent of government financial assistance.

 

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Skills Development Fund

The Skills Development Fund program assists businesses and trade unions by financing the design and implementation of customized job training projects. This fund successfully merges business needs and local customized training opportunities into a winning formula to increase the skills level and wages of the Texas workforce.

 

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Tax Credit for Hiring Persons with Disabilities

This web site provides information on a tax credit for Texas employers who employ people with disabilities.

 

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Temporary Assistance for Needy Families (TANF) State Tax Refund

The Temporary Assistance for Needy Families web site provides information on Texas State Tax Refund for employers who employ TANF or Medicaid recipients.

 

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Texas Assistive Technology Resources

Assistive technology is any device that enables a person with a disability to be more functional. Using the proper technology at work will allow a disabled person to be more productive, and in turn, a better worker.

The Texas Center for Disability Studies at the University of Texas (Austin) has information on how to obtain assistive technology for people with disabilities.

More information on assistive technology.

 

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Texas Enterprise Fund

The Texas Enterprise Fund can be used for a variety of economic development projects, including infrastructure development, community development, job training programs and business incentives. Before funds can be awarded, the Governor, Lieutenant Governor and Speaker must unanimously agree to support the use of the Texas Enterprise Fund for each specific project.

To be eligible for Texas Enterprise Fund support, a project must demonstrate a significant return on the state's investment and strong local support. The review process will consider a variety of factors associated with each project, including job creation and wages, capital investment, the financial strength of the applicant, the applicant's business history, analysis of the relevant business sector, and public and private sector financial support.

 

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Texas Linked Deposit Fund

The Texas Linked Deposit Fund offers lower interest rate loans to businesses in Texas.

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