Business Incentives in Hood County, TX

Program Criteria

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

Local Incentives

Property Tax Abatements

Tax abatements are considered on a case-by-case basis. Hood 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 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. You can download the Hood County tax abatement policy on this page.

>> DOWNLOAD: Hood County Abatement Program (PDF)

Triple Freeport Tax Exemption

The City of Granbury, Hood County and Granbury Independent School District passed the Freeport Amendment, which exempts certain business personal property from ad valorem taxes. Goods, wares, merchandise, other tangible personal property, ores (other than oil, natural gas and other petroleum products) are exempt from ad valorem taxation if the property is (1) used for assembling, storing, manufacturing, processing, or fabricating and (2) is shipped outside the state no longer than 175 days after it is acquired.

Grants and Loans (Chapter 380/381)

Chapters 380 and 381 of the Local Government Code provides very significant legislative authority for Texas municipalities and counties in the area of economic development. When a city/county wants to provide a grant or a loan of city/county funds or services in order to promote economic development, it generally cites its powers under Chapter 380/381. Cities/Counties have utilized the provisions under this law to provide a myriad of incentives that have drawn businesses and industries to locales throughout Texas. This statute basically allows the provision of loans and grants of city/county funds, as well as the use of staff, facilities, or services at minimal or no charge.

Workforce

The EDC works in close partnership with the local Texas Workforce Commission office and Weatherford College to help craft customized training programs for the labor needs of our companies.

State Incentives

The Texas Office of the Governor, Economic Development & Tourism assists relocating businesses by linking them with other programs that are offered through agencies statewide. Listed below are some additional economic development programs:

Texas Enterprise Fund

The Texas Enterprise Fund can be used for a variety of economic development projects, including infrastructure development, community development, job training programs, and business incentives. These funds are used primarily to attract new business to the State of Texas or to assist with the substantial expansion of an existing business as part of a competitive recruitment situation.

Emerging Technology Programs

The Texas Emerging Technology Program is designed to help Texas create jobs and grow the economy over the long-term by expediting the development and commercialization of new technologies and attracting and creating jobs in technology. The program works through three-way partnership between the state, institutions of higher educations, and private industry to focus greater attention on the research, development and commercialization of emerging technology.

Skills Development Fund

The Skills Development Fund is an innovative program created to assist Texas public community and technical colleges in financing customized job training for their local businesses. Average training costs are $1,000 per trainee; however, the benefit may vary depending on the proposal.

In-State Tuition for Employees

The Economic Development and Diversification In-State Tuition incentive may be offered to qualified businesses that are in the decision-making process to relocate or expand their operations into Texas. The incentive allows employees and family members of the qualified businesses to pay in-state tuition fees if the individual files with a Texas institution of higher education. Without this incentive designation, a student must reside in Texas for a 12-month period to be entitled to pay the tuition fees of a Texas resident.

Pollution Control Property Tax Exemption

A Texas constitutional amendment providing an exemption from property taxation for pollution control devices, equipment or land for air, water, or land pollution control was approved in 1993. This program provides an exemption of real and personal property tax for the life of the eligible equipment.

The individual or company seeking the exemption must submit a use and determination permit to the Texas Commission on Environmental Quality (TCEQ). That positive use determination is then provided to the local appraisal district, which must accept the TCEQ's decision and grant the property an exemption from property taxes.

Texas Manufacturing Assistance Center

The Texas Manufacturing Assistance Center (TMAC) is part of a national network of Manufacturing Extension Partnerships supported by the National Institute of Standards and Technology. TMAC helps identify problems in manufacturing processes, recommends solutions, and helps execute projects. TMAC field engineers operate out of offices located nearby to provide hands-on assistance to firms seeking to upgrade their operations to become more competitive.

TMAC services include assessment and benchmarking of existing operations; technical awareness projects (seminars, workshops, etc.); technical assistance projects including specific technology, engineering or management solutions (e.g., TQM, ISO 9000, Process Improvement, Inventory Control and Management, Plant/Equipment upgrades, CAD/CAE/CAM); and Deployment Group Management to assist sets of companies with common problems implement common solutions.

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

Do Business

We know that to compete in today's business world, businesses need access to various resources and capabilities. Granbury-Hood County offers access to a wide-range of such resources that can enhance your business success:

  • Easy Access to Dallas-Fort Worth, one of the largest economic markets in the U.S.
  • Access to a large, trained labor pool
  • Access to excellent schools and training programs
  • Access to public officials without lengthy bureaucratic delays
  • Access to one of the most unique living environments that includes beautiful Lake Granbury, excellent schools, several golf courses, and a variety of housing options

Come experience all the things Granbury-Hood County has to offer, because we are ready to do business!

Downloads