Mansfield Economic Development is committed to supporting new and existing businesses within the City of Mansfield. Below is a brief outline of our incentive programs, and we look forward to meeting with you to work out a program tailored to you.
Assistance with Infrastructure Costs
The City and/or the MEDC may participate with qualified applicants to assist with costs related to the construction, reconstruction or extension of public infrastructure necessary for approved development projects. The infrastructure development may include streets, waterlines, sewer lines, drainage, electric lines, phone lines, gas lines and/or fiber optic lines.
Whether you are investing $1 million or $100 million, the Mansfield Tax Abatement program will allow your taxes on new capital investment to be deferred for up to 10 years. For more information on this program and its guidelines, please download the Tax Abatement Policy and Application at the left.
Tax Increment Financing (TIF)
The Reserve at Mansfield TIF requires the developer to pay for the total development cost up front. Once the land has been developed, it is considered improved property. Improved property yields more taxable income for the city because the property tax the developer pays will far exceed the previous tax value of the once-vacant land. This additional tax income is placed into a special TIF fund that will accumulate value as developments continue to occur within The Reserve at Mansfield.
Developers who build in The Reserve at Mansfield TIF district benefit because they can later apply for reimbursement of their public infrastructure costs. The developers reimbursement application is reviewed by a TIF board, which is composed of representatives from various taxing entities, such as the City of Mansfield and the counties that choose to participate in the TIF district.
The TIF board reviews each application on a case by case basis. The amount and terms of the reimbursement are negotiable. If the reimbursement application is approved, the reimbursement funds would come from the TIF fund.
Triple Freeport Tax Exemption
The City of Mansfield, Mansfield Independent School District and Tarrant County have taken action to eliminate the tax on Freeport goods (i.e., inventory goods, goods in process or goods in transit). The Freeport exemption exempts certain types of tangible personal property from taxation provided the property is:
- Acquired in or imported into Texas to be forwarded out of state;
- Detained in Texas for assembling, storing, manufacturing, processing or fabricating purposes by the person who acquired or imported , and
- Transported out of the State of Texas within 175 days after the date the person acquired or imported it into Texas.A company that manufactures or distributes a product within a jurisdiction that has adopted the Freeport exemption will realize a significant savings if it serves national or international markets. This is particularly beneficial to companies that warehouse and provide an added value to a product brought into Mansfield from outside the State of Texas.
The amount of the goods in transit exemption for each year is normally based on the percentage of inventory made up by such goods the previous year. A one-page application requests a company to identify property owned on January 1 of each year (or September 1 of the preceding year if the company receives a September 1 inventory appraisal). A company must apply for the exemption each year from the Tarrant, Johnson or Ellis County Appraisal District (depending upon the company’s location within the City of Mansfield) between January 1 and May 1.
Mansfield offers all training programs available to companies through the Texas Workforce Commission and Skills Development Fund. Mansfield is located within 30 miles of over 22 universities and professional schools. Tarrant County College SE Campus is within 10 minutes of Mansfield.