Incentives and Financing

Incentives and Financing

Incentives and Financing

In addition to our many business advantages, the City of Houston and the State of Missouri offer a wide range of flexible economic development incentive programs.

How it Works

Projects are evaluated individually and every effort is made to create a package that will assist a business in expanding or locating within our community. The level of incentives available is based upon several key factors, including but not limited to, the number of jobs created and/or retained, the average wage of those jobs and the projected future job growth.

Disclaimer

All incentives are subject to negotiating and local and/or state approvals. Incentive information provided here is not a guarantee of incentives and does not create an obligation upon the local or state programs.

Local Incentive Programs

Community Improvement (CID)

Allows property and/or tenant business owners within legally constituted district to assess or tax them to cover the cost of improvements and services which benefit the entire district. Types of projects this can be used for are water systems, parking lots, streetscapes, and to maintain or repair existing infrastructure. For a more in-depth look at the local CID program please click on the link to the City of Houston’s Incentive Policy Guidelines provided below.

Tax Increment Finance (TIF)

The purpose of a TIF is to facilitate redevelopment of blighted areas by providing essential public infrastructure. This program allows incremental increases in local revenues resulting from the new development to be used to help pay for infrastructure improvements made to the area the project landed. For a more in-depth look at the local TIF program please click on the link to the City of Houston’s Incentive Utilization Guidelines provided below.

Industrial Development Bonds Chapter 100

Chapter 100 bonds are available to use to help retain or expand current businesses or results in the creation of additional jobs in Houston. Companies eligible for Chapter 100 bond financing include manufacturing, warehousing, distribution, office, research and development, agricultural processing and services in interstate commerce. Retail services in intrastate commerce and others are not eligible. For a more in-depth look at the local Chapter 100 program please click on the link to the City of Houston’s Incentive Utilization Guidelines provided below. (As soon as the Council approves the City’s Incentive Plan I will email it to you and if you could make a link that will take you to the document I would appreciate it)

State Incentives

Building Use Incentives for Large-Scale Development (BUILD)

This program is used to help companies that are looking to embark on major investment and job creation expansions. Provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for the acquisition, construction, and equipping of qualified manufacturing production facilities and/or equipment. For more information about BUILD and other State Incentives please click the link below to the Missouri Economic Development website.

Missouri Works

As the state’s number one incentive tool for expansion and retention, this program helps businesses access capital through withholdings or tax credits to embark on facility expansions and create jobs. This program can also help businesses purchase equipment to maintain its facility in Missouri. For more information about Missouri Works and other State Incentives please click the link below to the Missouri Economic Development website.

Missouri EB-5 Investor Visa Program

This program provides for a limited number of immigrant visas to individuals desiring to engage in new commercial enterprise in Missouri and create new jobs in rural areas with high unemployment. Projects must meet investment thresholds. For more information about the EB-5 Investor program and other State Incentives please click here to visit the Missouri Economic Development website.

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