Texas Enterprise Fund
Texas Enterprise Fund (TEF) was established by 78th Texas Legislature in 2003 to provide financial resources to help strengthen the state’s economy. Funds for the TEF were reappropriated in 2005, 2007 and 2009, making more than $200 million available for the job creation fund in the 2010-2011 biennium.
The Texas Enterprise Fund, the largest “deal closing” fund of its kind in the nation, continues to attract businesses and jobs to Texas. To date, the state has allocated more than $383 million from the Texas Enterprise Fund, bringing over 56,000 new jobs generating more than $14 billion in capital investment. For more information, click here.
Texas Enterprise Zone Program
The Texas Enterprise Zone Program is a performance-based incentive that allows qualified businesses to receive a refund of state sales and use taxes, ranging from $2,500–$7,500 per job created and/or retained during a five year designation period, up to a maximum of $1.25–$3.75 million. The level and amount of refund is related to the capital investment and jobs at the qualified business site. While the Texas Enterprise Fund (TEF) is an economic development tool used to assist in the State’s recruitment endeavors, the EZP can also assist with job retention efforts. For more information click here.
Texas Emerging Technology Fund
Emerging Technology Fund (ETF) was created by the Texas Legislature in 2005 to expedite the development and commercialization of new technologies, and by recruiting the best research talent in the world. The ETF was reauthorized by the 80th Texas Legislature, making more than $185 million available during the 2008-09 biennium. To date, the ETF has awarded over $140 million to Texas companies and universities. For more information, click here.
Skills Development Fund
The Skills Development Fund program assists businesses by financing the design and implementation of customized job training projects. This fund successfully merges business needs and local customized training opportunities into a winning formula to increase the skills level and wages of the Texas workforce.
During Fiscal Year 2008 (September 1, 2007 - August 31, 2008), TWC awarded 41 grants totaling $22,772,673 which served 148 businesses, generated 7,984 new jobs and upgraded the skills of 11,705 workers in existing jobs. For Fiscal Year 2009, TWC has $25 million in Skills Development Funds to support high quality, customized job training projects across the state. For more information, click here.
Self-Sufficiency Fund
The Self-Sufficiency Fund is a job-training program that is specifically designed for individuals that receive Temporary Assistance for Needy Families (TANF). The program links the business community with local educational institutions and is administered by the Texas Workforce Commission. The goal of the Fund is to assist TANF recipients to become independent of government financial assistance.
The Fund makes grants available to eligible public colleges or to eligible private, non-profit organizations to provide customized job training and training support services for specific employers. A joint application from the employer and the eligible public college and/or eligible private, non-profit organization is required to be submitted to the Local Workforce Development Board for review and comment prior to approval. For more information, click here.
Texas Product/Business Fund
The Texas Product/Business Fund provides asset back financing to companies currently doing business in the state. Financing is done in the form of direct asset based loans with a variable interest rate tied to London Interbank Offered Rate (LIBOR). Loans can be amortized up to the life of the asset. For more information, click here.
Texas Capital Fund
The Texas Capital Fund consists of programs administered by the Texas Department of Agriculture that are designed to promote growth in rural non-entitlement areas generally defined as cities with fewer than 50,000 residents or counties with less than 200,000 residents. Awards are made through eligible cities and counties to assist businesses that employ low- to moderate-income persons. For more information, click here.
