Federal, State, and Local Incentives

Businesses that move to Greenville, Texas, can take advantage of several incentives that support their expansion or relocation efforts. On top of large-scale incentives, like the state designating Dallas-Fort Worth International Airport a Foreign Trade Zone, there are also local incentives to consider. 

Learn about the incentives below and see how they apply to your business.  

Greenville, Texas, is a pro-business, forward-thinking community that wants to help you move your business to the region. GBOD works closely with each business in the area, and identifies local, state, and federal incentives that would be a good fit. GBOD works on behalf of the city and the county for any incentive offers, to create a mutually beneficial package that fosters growth. 

Incentives

Federal

Companies can invest in distressed areas and receive both credits and deductions through the Opportunity Zone program. They can also take advantage of New Markets Tax Credits and receive federal funding for projects that improve communities and create jobs.

State

The State of Texas offers several incentives to support businesses that want to move here. Use this PDF as a guide to explore grants, tax incentives, and financing options. Depending on your organization's size, industry, and goals, multiple funds are available.

Another important state incentive is the designation of DFW as a Foreign-Trade Zone. DFW is FTZ #39 and all of Hunt County is a sub-zone of FTZ #39. This allows for several inventory tax exemptions for international inventory. The FTZ also allows companies to save on or eliminate Customs duties, tariffs, and taxes. Companies operating in these zones can potentially save millions of dollars, while speeding up their supply chains.

Local

The City of Greenville and Hunt County, along with other local governing bodies, have also approved the following local tax incentives: 

  • Chapter 312 Tax Abatements: These abatements support economic development by reducing the property tax burden on companies for up to 10 years. 
  • The Freeport and Goods in Transit Exemptions: This is a personal property tax exemption for, “goods that are detained in Texas for 175 days or less.” Goods that are expected to be moved out of state will not be taxed.  
  • Chapter 380 Municipality Agreements: This agreement allows municipalities to offer loans and grants of city funds or services at little or no cost, to promote economic development.
  • Chapter 381 County Agreements: This agreement allows counties to negotiate directly with developers and businesses to provide incentives. The county can develop programs to support economic development and attract businesses. 
  • Chapter 403 The Jobs, Energy, Technology and Innovation Act (JETI): This program enables a company, school district, and Governor’s office to enter into an agreement for a 10-year school district maintenance and operations (M&O) tax appraised value limitation, pursuant to statutorily mandated job creation and investment minimums.