| Gainesville Economic Development Corp. 101 S. Culberson Gainesville, Texas 76240 Ph. 940-665-5241 |
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| Gainesville Economic Development Corp. Local Incentives |
Minimum Qualifications for GEDC / City Incentives:
Pay Ranges for Job-Based Incentives:
The GEDC will also offer a $500/job bonus to be paid on top of the above listed
amounts for any company that provides a health benefit plan where at least the
employee is covered at company expense.
These incentives will not apply to retail jobs.
Job incentives will not begin until the employees have been on the company's
payroll for a period of 6 months. Projects receiving total incentive offers of less
than $100K will be paid over a two-year period, projects greater than $100K but
less than $500K will be paid over a four-year period, and projects over $500K will
be paid over a six-year period. This will allow the GEDC to continue taking on
new projects by spreading out our cash outlays, and it will create the added
benefit of having longer commitment from the businesses receiving the incentives.
A formal application must be completed by the company and must be approved by
both the GEDC Board of Directors AND the Gainesville City Council.
(*Application may take a minute to load)
- For existing manufacturing and office businesses, 10 retained and 5 new
jobs AND $250,000 unabated investment in building, machinery/equipment
and/or personal property. - For new manufacturing and office businesses, 20 new jobs AND $500,000
unabated investment in building, machinery/equipment and/or personal
property. - For retail/entertainment projects, $3,000,000 in unabated construction
costs. - For hotel projects, $10,000,000 in unabated construction costs.
Pay Ranges for Job-Based Incentives:
- $19,000 to $25,000/year = $1,500/job
- $25,001 to $35,000/year = $2,500/job
- Greater than $35,001/year = $3,500/job
The GEDC will also offer a $500/job bonus to be paid on top of the above listed
amounts for any company that provides a health benefit plan where at least the
employee is covered at company expense.
These incentives will not apply to retail jobs.
Job incentives will not begin until the employees have been on the company's
payroll for a period of 6 months. Projects receiving total incentive offers of less
than $100K will be paid over a two-year period, projects greater than $100K but
less than $500K will be paid over a four-year period, and projects over $500K will
be paid over a six-year period. This will allow the GEDC to continue taking on
new projects by spreading out our cash outlays, and it will create the added
benefit of having longer commitment from the businesses receiving the incentives.
A formal application must be completed by the company and must be approved by
both the GEDC Board of Directors AND the Gainesville City Council.
(*Application may take a minute to load)
Tax Abatement: Guidelines and Application
For projects that are located in the City of Gainesville, the tax abatement
application must be submitted to the City of Gainesville.
For projects that are located in Cooke County, but outside of the City of
Gainesville, the tax abatement application must be submitted to Cooke County.
For projects that are located in the City of Gainesville, the tax abatement
application must be submitted to the City of Gainesville.
For projects that are located in Cooke County, but outside of the City of
Gainesville, the tax abatement application must be submitted to Cooke County.