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Incentives

Incentives for new industries locating in Hale County are based on the projected number of new jobs that will be created. Incentives take different forms depending on the needs of the new industry.

Industrial Revenue Bonds

The Hale County Industrial Development Corporation was created with the specific purpose of facilitating the issuance of Industrial Revenue Bonds. These bonds are available for issuance in Hale County and the surrounding counties for various industrial and environmental purposes. The underlying purpose of the issuance of Industrial Revenue Bonds for financing a project is that the interest from the bonds will be tax free to the holder of the Industrial Revenue Bond which creates a lower interest rate to the company financing their project. The long term interest savings to an industry through the issuance of the Revenue Bonds can be quite substantial. Visit with the Executive Director of the Plainview Hale County Industrial Foundation for more information on this financing option.

Enterprise Zone

The City of Plainview has a designated Enterprise Zone that can qualify a new or expanding industry for rebates on sales taxes paid on the expansion project. See State of Texas Enterprise Zone.

Texas Capital Fund

The Texas Capital Fund (TCF) program is administered by the Texas Department of Agriculture through an interagency agreement with the Texas Department of Rural Affairs (TDRA). The TCF program encourages business development, retention, or expansion by providing funds to eligible applicants. Funds will be awarded for the express purpose of assisting in the creation of new permanent jobs or retention of existing permanent jobs, primarily for low and moderate income (LMI) persons. These funds are a part of the U.S. Department of Housing and Urban Development’s (HUD) Community Development Block Brant (CDBG) program and is known as the Texas Community Development Program (TCDP) in our state. The program is only available to non-entitlement city or county governments.