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Economic Development Incentives Policy <br />Revision 2004 <br /> <br />Page 6 <br /> <br />income population of 20% or more. All of the City of San Marcos' Census Tracts qualify to be designated <br />as an Enterprise Zone. Being designated by the State as an Enterprise Project provides valuable <br />incentives including refunds of sales and use taxes, and franchise tax credits. Additionally the State <br />Comptroller can refund sales tax on natural gas and electricity. <br /> <br />Industrial Revenue Bonds: The State of Texas Industrial Revenue Bond Program is designed to provide <br />tax-exempt financing of land and depreciable property for eligible industrial or manufacturing projects. <br />The Development Corporation Act allows cities, counties, and conservation/reclamation districts to form <br />non-profit industrial development corporations or authorities on their behalf. The purpose is to issue <br />taxable and tax-exempt bonds for eligible projects in their jurisdictions. The Industrial Development <br />Corporation acts as a conduit through which all monies are channeled. Generally, all debt services on <br />the bonds are paid by the business under the terms of a lease, sale, or loan agreement. As such, it does <br />not constitute a debt or obligation of the governmental unit, the Industrial Development Corporation, or <br />the State of Texas. If Revenue bonds would help a prospect, the City stands ready to assist with <br />selecting bond council and working to float the bond. <br /> <br />Job Training Funds: The City of San Marcos will assist companies locating or expanding in San Marcos <br />with securing State-provided job training assistance. The State of Texas, through the Governor's Office, <br />offers the Enterprise Fund to assist with training for newly-created jobs. Acting through the Texas <br />Workforce Commission, the State offers the Skills Development Fund to finance customized job training <br />for local businesses that is provided by public community and technical colleges. This fund offers, on <br />average, up to $1,000 for each job needing customized job training. <br /> <br />Capital Grants and Loans: The Federal Government offers a number of loan programs designed to <br />provide companies with various capital access and expenditure assistance. The programs include the <br />Small Business Administration's 7(a) and 504 programs. The Greater San Marcos Chamber of <br />Commerce will work with locating or expanding companies that need assistance applying for and <br />securing this assistance. <br /> <br />Texas Manufacturinq Assistance Centers (TMAC) <br />TMAC exists to enhance the competitive position of the state's manufacturing sector. Manufacturing <br />specialists work with small to medium-sized manufacturers, providing technical support and implementing <br />best business practices. Typical areas covered include cost management, productivity improvements, <br />environmental assistance, software systems selection and application, and e-commerce decisions. <br /> <br />Chamber AssiStance The San Marcos Chamber of Commerce provides these additional services to aid <br />with relocations and expansions: <br /> <br />· Relocation assistance for key personnel <br />· Special banking and mortgage assistance <br />· Job fairs to attract employees <br />· Residential real estate assistance <br />· Community orientation, introduction and tours <br />· Spouse employment assistance <br />· Welcome and announcement/press conference coordination <br />· Identification of business support services <br /> <br /> <br />