The Business Retention and Expansion Program is an incentive program intended to assist local businesses that are interested in expanding either through additional capital investment, hiring more personnel or some combination of the two. Incentives can take the form of monetary grants, tax rebates, development fee reimbursements, or other monetary or non-monetary assistance.
The program is also intended to help retain companies that may be contemplating leaving San Angelo or expanding in another location.
The program is funded through the half-cent sales tax, approved by voters for economic development. It is governed by state law, specifically Chapters 501 through 505 of the Texas Local Government Code. By law, half-cent sales tax funds may be used only for the retention or creation of primary jobs. Primary jobs are defined as employment at companies that infuse new dollars into the local economy and that are included in certain industry sectors. (See below.)
If you believe your business qualifies, click here to print an application.
Eligible industry sectors
Forestry & logging
Transportation & warehousing
Securities, commodity contracts, trusts & other financial-related activities, insurance carriers & funds
Scientific research & development services
Management of companies & enterprises
Telephone call centers
Cash grants for job creation
Property tax rebates
Development fee reduction
Rebates for certain construction-related costs
Business training & workforce training
Referrals to other available resources