City Of Houston 380 Agreements

Texas companies are exempt from paying state taxes on labor costs for the construction of new facilities. Texas businesses are exempt from the state tax on electricity and natural gas used in the production, processing, or manufacture of personal property. (The company must complete a „predominant use“ study, which confirms that 50% or more of the electricity or gas used by the company is physical modifications to the products produced.) $19 million in city discount can seal the Galleria Houston project offers businesses or industrial building developers the same kind of incentive as Harris County. For investors who commission the construction of buildings worth an estimated $1,000,000 or more and create 25 or more jobs by the third year, they can benefit from 50% reductions in their taxes on the value payable to the city. For current prices, this represents 50% of $1.26873/$00 or $0.634365/$00. With the same example as the above, this means $6,343.65 per year for ten years, or $63,436.50 during that period. The International Management District`s main incentives for potential investors and companies considering capital investments and business sites in the district are described in the other portals of this site. The borough charges a considerable fee to provide its retailers, restaurateurs, office tenants and industrial businesses with a safe, secure and attractive business environment, and supports many community organizations and activities to improve the quality of life of residents. The district also designs or receives funding for infrastructure projects to improve the mobility and attractiveness of the district. All these services and investments go through the services provided by the City of Houston in all areas of the city.

Tax Increment Reinvestment Zones (TIRZs) are special areas of the city, created pursuant to Chapter 311 of the Texas Tax Code by an act of the City Council. A TIRZ creates and expands projects that, in turn, attract development in these areas. Administrative policy is to focus these projects on the development and construction of infrastructure in order to catalyze future economic development. The city of Houston currently has 24 active TIRZ. The City Council approves all budgets and projects for each TIRZ in the City of Houston. Chapter 380 of the Local Government Code allows municipalities to offer incentives for economic development such as trade and retail projects. In particular, it plans to offer loans and grants of funds or urban services at a reduced or non-reduced cost, in order to promote the economic development of the state and local and to stimulate commercial and commercial activities. . . .