The Granbury/Hood County Economic Development Corporation is committed to assisting progressive, quality companies with relocation and expansion to the Hood County Area. The City of Granbury and Hood County both offer tax abatement programs based on the following criteria:

• The number of jobs created
• The average wage and the gross annual payroll generated
• Capital investment
• The amount of new taxes generated by the project

Tax abatements are considered on a case-by-case basis. The city and county will give consideration to providing tax abatement on the increment in value added to a particular property by a specific development proposal which meets the economic goals of the city and/or county. Tax abatement will not be considered for projects which would be developed without such incentives unless it can be demonstrated that higher development standards or other development and community goals will be achieved through the use of the abatement.

For an application, please contact Marie Ferguson at 817-573-1114.

Granbury has a designated Enterprise Zone. Qualified companies locating within the Zone may make application for local and state incentives.

Texas communities tax business inventory at the same rate as land, buildings, and equipment. However, some Texas communities, like Granbury-Hood County, offer the triple freeport exemption from all local taxing authorities-the City of Granbury, Hood County, and the Granbury Independent School District. The exemption applies to inventory that is shipped out of the State of Texas within 175 days, and it provides a substantial savings for interstate shippers that turn inventory several times a year.

State of Texas incentive information can be found at www.governor.state.tx.us/ecodevo/.