4A Grant Funding: The Taylor Economic Development Corporation was established by the voters in 1994 and funded through a 4A sales tax of one-half of one percent of sales tax receipts. Since its inception, the Taylor EDC has leveraged those funds to acquire and develop industrial property, invest in infrastructure projects, provide training grants, land grants, working capital and growth capital loans to small and large businesses. Taylor EDC can support a grant in the form of a forgivable loan up to as much as $1,000 per job subject to final negotiation. Qualified jobs and significant increases to the local tax rolls are required for qualified investments.
Texas Enterprise Fund: The TEF is managed by the Governor of Texas, Rick Perry, and is considered to be the state’s “deal-closing” fund. The TEF can be used for a variety of economic development projects, including infrastructure development, community development, job training programs and business incentives. Capital investment, job creation, wages generated, financial strength of the applicant, applicant’s business history, analysis of the relevant business sector, and federal and local government and private sector financial support of a project are all considered to be significant factors in approving the use of the Texas Enterprise Fund.
