- Corporate Franchise Tax
- Property Tax
- Sales & Use Tax
- Unemployment Insurance & Workers’ Compensation
- Texas Enterprise Zone Program
- Tax Exemptions & Credits
- Training Programs
- Texas Enterprise Fund
- Chapter 380/381 Financing
- Economic Development Sales Tax Corporations
- Certified Capital Companies - Growth Capital for Texas Small Business
- Texas Capital Fund
- Texas Leverage Fund
- Texas Product/Business Fund
- Texas Increment Financing
- Industrial Revenue Bond
- Texas Moving Image Industry Incentive Program
- Foreign Trade Zone 183 of Central Texas
- Other Assistance
- Local Incentives Summary
The State of Texas Industrial Revenue Bond Program (IRB) provides tax-exempt or taxable financing for eligible industrial or manufacturing projects as defined in the Development Corporation Act of 1979. The Act allows cities, counties, and conservation and reclamation districts to form non-profit industrial development corporations (IDCs) or authorities on their behalf to provide bond financing for projects within their jurisdictions. The IDC issues bonds to finance the capital costs for an industrial or manufacturing business.
Generally, the bond debt service is paid by the business under the terms of a lease, sale or loan agreement. As such, it does not constitute a debt or obligation of the sponsoring governmental unit, the IDC or the State of Texas. Small issue bonds are limited to manufacturing facilities. The bond amount cannot exceed $10 million and the total capital expenditure limitation for the project is $20 million.
Exempt facility bonds can be issued to finance facilities for the furnishing of water, sewage and solid waste disposal facilities, electric energy or gas production facilities, local district heating or cooling facilities and qualified hazardous waste facilities. Other exempt facility bonds can be issued to finance airports, dock and wharf facilities, mass commuting facilities and high-speed inter-rail facilities. These facilities must be government owned, but they can be leased or operated by management contractors.
Businesses interested in applying for an industrial revenue bond should contact the local industrial development corporation as well as legal counsel specializing in the issuance of municipal bonds who will submit application materials on the business' behalf. The IRB program is administered through the Office of the Governor, Department of Economic Development Finance.