Taxes

In survey after survey, Texas consistently rises above the rest as a business location. In fact, when Texas was recently designated as “state of the year” by Business Facilities magazine, it became the publication’s first four-time winner. And like Texas, the High Ground rises to the top with a combination of low costs, low taxes and high-performance quality.

In addition to zero personal and corporate state income taxes, Texas offers a number of other significant tax advantages, and across the High Ground pro-business communities eagerly support enterprise success with incentives that can include property tax abatements, local cash grants, permitting fee waivers, and local funding for a variety of purposes ranging from infrastructure to recruitment, land, equipment and more.

Other relevant incentives include:

Texas Enterprise Zones: Based on the number of jobs created, eligible enterprise projects can qualify for a significant sales and use tax refund up to $2,500 per job, with a maximum refund between $25,000 and $625,000. Enterprise zones are located across the High Ground in Dalhart, Amarillo, Borger, Lubbock, Odessa, Midland, Big Spring, Abilene and San Angelo.

Manufacturing Exemptions: Manufacturers make good here in the High Ground. For tangible property, natural gas and electricity, qualified projects receive state sales and use tax exemptions.

Renewable Energy Incentives: In a region that produces vital renewable energy resources, companies can also reap advantages for actually using renewables, through tax exemptions and deductions for solar, wind, ethanol and biodiesel fuels.

Texas Industrial Revenue Bonds: For eligible projects both tax-exempt and taxable financing is available.

Skills Development Fund: Grant-funded training enables the High Ground’s experienced workforce experts at local community colleges to provide superior training for new hires and upskilling for existing workers.

Texas Enterprise Fund: Texas does everything bigger, and that goes for the nation’s largest “deal-closing” fund for significant projects that have a single Texas site competing against out-of-state locations.