Incentives
The City of Kemp and the Economic Development Corporation offer incentives for new and expanding businesses that create primary jobs in the community.
The City of Kemp customizes the provisions on a case-by-case basis. This individualized approach of a total incentive package is intended to allow flexibility in addressing the unique nature of each application while enabling the City to respond to the changing needs of the community.
TAX ABATEMENT
Tax Abatement may be offered in two categories:
- Real Property; and/or
- Business and Personal Property
Real property abatements may be offered to applicants, which will pursue the construction of new or expanded facilities in which to house the applicable project. The abatement may apply only to the value of improvements made.
Business Personal property abatements may be offered to applicants, which will pursue the purchase or long-term lease of existing facilities. The abatement will apply to the value of new personal property brought into the taxing jurisdiction.
Once a determination has been made that a tax abatement may be offered, the value and term of the abatement will be determined on a case by case basis.
INFRASTRUCTURE PARTICIPATION AND WAIVER OF FEES
Incentives in the form of infrastructure participation and waiver of fees may be considered for qualified projects.
GRANTS BASED ON RETAIL SALES TAX GENERATED
The City may by contract provide an incentive consisting of an annual grant based on a percentage of the sales and use tax received by the city from the sale of taxable items by the applicant.
STATE AND FEDERAL PROGRAMS
The state of Texas offers a number of programs and if applicable the City of Kemp will assist economic development prospects in learning more about or applying for programs.
- Texas Capital Fund Infrastructure Grant
- Texas Enterprise Zone Project
- Skills Development Fund Job Training
- Texas Enterprise Fund (Major Projects)
- Texas Emerging Technology Fund (Major Projects)
The above list serves as a general guideline for use in considering an investment. A detailed incentive proposal for potential projects is available from the Director of Economic Development. For any questions, or to schedule a meeting please contact:
Contact: Dean Winters
dean.winters@cityofkemp.org