The following local incentives, at the election of the governing body, may be made available to qualified business:
- Zoning Changes/Variances
- Tax Increment Financing
Tax Increment Financing (TIF) is a tool to finance public improvements within a defined area. The improvements should enhance the environment and attract new investment. The statutes governing tax increment financing are in Chapter 311 of the Texas Tax Code, more information can be found on the Texas Comptroller website.
A municipality makes an area eligible for tax increment financing by designating a reinvestment zone, also called a tax increment reinvestment zone (TIRZ) or a tax increment financing (TIF) zone. Costs of selected public improvements outlined in the zone’s project and financing plan may be paid by current or future tax revenue flowing from redeveloped or appreciated real property valued in the zone. The additional tax dollars generated by the growth of real property value in the zone are called the tax increment. These dollars flow to a fund for a specified number of years. Money flowing into the fund each year is spent according to an approved plan and in accordance with agreements in place with participating governmental units.
The Robinson City Council adopted an ordinance on December 3, 2019, which designated Reinvestment Zone No. One. A board of directors for the Zone was created with the adoption of the TIRZ. The Board shall consist of seven (7) members comprised of City Council members from Places 1 through 6 and the Mayor.
- Tax Abatement
A tax abatement is a local agreement between a taxpayer and a taxing unit that exempts all or part of the increase in the value of the real property and/or tangible personal property from taxation for a period not to exceed 10 years. Tax abatements are an economic development tool available to cities, counties and special districts to attract new industries and to encourage the retention and development of existing businesses through property tax exemptions or reductions. The Texas Comptroller provides information to better understand how tax abatements work.
Local governments often use property tax abatements to attract new industry and commercial enterprises and to encourage the retention and development of existing businesses.
Tax Abatement Guidelines
Tax Abatement Application
- Chapter 380 Economic Development Agreements of the Local Government Code
Chapter 380 of the Local Government Code authorizes municipalities to offer incentives designed to promote economic development such as commercial and retail projects. Specifically, it provides for offering loans and grants of city funds or services at little or no cost to promote state and local economic development and to stimulate business and commercial activity. The Texas Comptroller provides information to better understand how 380 agreements work.
In order to provide a grant or loan, a city must establish a program to implement the incentives. The Robinson City Council adopted an ordinance on November 8, 2011, which established the program required to implement these incentives.
380 agreement possibilities:
- Loans, lease- purchases or other forms of financing for site acquisition or development;
- In-kind" services such as site preparation using City equipment, personnel, or contractors;
- Grants/ assistance for job training or re-location
- Waiver or rebate of permit and other fees.
- Capital Improvements in Water, Sewer, Streets, and Other Infrastructure
- Low-Interest Loans for Business
- Provision of Publicly Owned Land for Development Purposes
Find additional local incentives offered through the Great Waco Chamber Economic Development page.
The State of Texas offers an array of economic development incentives through the Governor’s office of economic development. Just a couple of state incentives are listed below. For a full list or additional information visit the state's economic development incentives page.
- The Emerging Technology Fund
- The Enterprise Fund
- Workforce development