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INCENTIVES

Stack of MoneyCommerce received the 2002 "Community Economic Development Award" from the Texas Economic Development Council because of our success in business recruitment and expansion. In today's competitive environment between states and communities, community leaders realize incentives are an important part of the site selection process.

LOCAL INCENTIVE PROGRAMS

The local 1/2 cent sales tax generates approximately $336,500 annually for economic development. By packaging these funds with incentives from the state and other local entities, the CEDC has been aggressive in its pursuit of growth for Commerce. Incentives are based upon the number of jobs created, annual payroll and capital investment. Customized incentive packages are based upon a cost benefit analysis conducted by an outside consultant.

LOCAL INCENTIVES

  • Tax Abatement — City, County, Hospital District
  • Enterprise Zone
  • Reinvestment Zone
  • Economic Development Corporation
  • 4-A Sales Tax City
  • Industrial Development Association

STATE AND FEDERAL PROGRAMS

The City of Commerce is a rural, non-entitlement area with less that 50,000 population in the City and 200,000 in the County. This designation makes Commerce and industries locating within the City or county eligible for a number of state programs.

  • Texas Capital Fund Infrastructure Grant
  • Texas Capital Fund Real Estate Loan
  • Enterprise Zone Project 
  • Skills Development Fund Job Training
  • Texas Enterprise Fund (Major Projects)
  • Texas Emerging Technology Fund (Major Projects)
  • Texas Industrial Revenue Bond Program
  • State Franchise Tax & Sales Tax Refund
  • Pollution Control Equipment Exemption
  • Texas Manufacturing Assistance Center
  • Texas Leverage Fund
  • Economic Development Administration Infrastructure Grants
  • SBA Loans

EXAMPLES OF INCENTIVES ACTUALLY PROVIDED NEW & EXPANDING INDUSTRIES TO COMMERCE

  • Commerce develops each incentive package based on the specific needs of the industry & eligibility
  • Land in the Commerce Industrial Park or the FM3218 Industrial Park
  • Construction of a 50,000 sf speculative building sold at below cost
  • Infrastructure constructed, such as curbed concrete streets, water, sewer, natural gas and electric
  • 0% forgivable loans and below-market interest loans
  • Cash grant for agreed upon number of jobs created and capital investment
  • Renovation of existing buildings
  • Tax Abatement from City, County and Hospital District graduated for up to 10 years
  • Skills Development Fund Job Training
  • Enterprise Zone Project
  • Texas Capital Fund Infrastructure Grant
  • State Franchise Tax & State Sales Tax Refund
  • Pollution Control Equipment Exemption
  • SBA Loans
  • Economic Development Administration Infrastructure Grant

 

April 28, 2021 at 8:30 a.m.
Regular Meeting

Commerce City Hall
1119 Alamo Street, Commerce, Texas 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
Agenda | Notice of Workshop

March 24, 2021 at 8:00 a.m.
Regular Meeting

Commerce City Hall
1119 Alamo Street, Commerce, Texas 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
Agenda

February 25, 2021 at 8:00 a.m.
Regular Meeting

Commerce City Hall
1119 Alamo Street, Commerce, Texas 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
Agenda

February 17, 2021 at 9:00 a.m. - Cancelled
Regular Meeting

Commerce City Hall
1119 Alamo Street, Commerce, Texas 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
Notice of Cancellation

December 15, 2020 at 9:00 a.m.
Regular Meeting

Conference Room – McDowell Administration Building, #290
Campus of Texas A&M University - Commerce
2008 University Drive Commerce, TX 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
View Agenda

November 18, 2020 at 9:00 a.m.
Regular Meeting

Conference Room – McDowell Administration Building, #290
Campus of Texas A&M University - Commerce
2008 University Drive Commerce, TX 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
View Agenda

December 15, 2020 at 6:00 p.m.
Topic: Special City Council Meeting
See Notice for connection details and Zoom remote meeting details.

Notice of Meeting – NOTICE OF PUBLIC HEARING FOR CREATION OF
REINVESTMENT ZONE NO. 2020-02

October 19, 2020 at 11:00 a.m.
Regular Meeting

Conference Room – McDowell Administration Building, #290
Campus of Texas A&M University - Commerce
2008 University Drive Commerce, TX 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
View Agenda

Notice of Meeting – Tax Abatement OEP, INC.

Notice of Meeting – Tax Abatement HUARU GROUP HOLDING, INC.

Notice of Public Hearing for Creation of Reinvestment Zone No. 2020-01

September 21, 2020 at 11:00 a.m.
Regular Meeting

Community Room – Guaranty Bond Bank
1108 Park Street
Commerce, TX 75428
Topic: CEDC Board Meeting
See Agenda for connection details and Zoom remote meeting details.
View Agenda

August 31, 2020 at 3:00 pm.
Remote Meeting Notice

The Public may join this meeting via the web utilizing the link provided in the agenda below.
Topic: CEDC Board Meeting
Time: August 31, 2020 3:00 PM Central Time (US and Canada)
See Agenda for connection details.
View Agenda