 Mansfield,
Texas is a 4A Sales Tax community.
In
1998, the citizens of Mansfield voted to levy an additional
sales tax upon themselves in order to provide for a funding
mechanism for our local economic development efforts.
Today, the Mansfield Economic Development Corporation
(MEDC) collects approximately $1.5 million of which approximately
$1 million is available for use in attracting business
to the community. It is through this fund as well as other
state and local programs that the MEDC is able to provide
for aggressive incentives.
Some
of the incentives that the MEDC may commit to this project
include:
•
Development bonds – the Mansfield Industrial
Development Corporation has previously issued bonds for
companies locating and/or expanding in the community;
• Tax credits – through the
passage of HB1200, Mansfield can now offer a cap on taxes
paid to the school district at $80 million for the first
7-10 years of the life of the plant;
. Recruiting – the MEDC has and
will sponsored job fairs so that this client can attract
quality employees from through not only the community
but also the region. Additionally, we work closely with
Tarrant County College who regularly works with the MEDC
to place their students locally;
. Job Training – with an on-going
Skills Development Fund Grant in place, Tarrant County
College has staff who are able to provide any training
assistance needed. Should the client prefer to coordinate
their own training and/or bring in their own trainers,
the MEDC may provide a cash grant to fund this investment;
. Infrastructure Improvements –
the MEDC regularly funds infrastructure improvements for
companies locating in the community. These grants my include
water and sewer upgrades, drainage assistance, road construction,
etc.
. Tax Abatement – Mansfield has
a Tax Abatement Policy in place that provides for up to
100% abatement for up to 3 years depending upon the capital
investment.
• Other – relocation company,
relocation assistance, community orientation for employees,
etc.
It
is important to recognize that the MEDC and Mansfield
stand ready to do whatever it takes to meet the needs
of this client. If there is something that has not been
covered that is desired, we will explore it with this
client.
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