Lake Dallas Incentives

Lake Dallas wants to be your business partner…

There are several financing alternatives available for businesses seeking to expand or relocate in Lake Dallas. Because financial assistance is of a customized nature, the Lake Dallas Economic Development Corporation and City Council will work with companies to develop a tailor-made and beneficial package for interested parties. Please contact us for further assistance.

Listed below is a sample of available programs:

Lake Dallas Incentives and Description

Pro-Business City Council
Lake Dallas makes business and industry welcome by working with them on all facets of their location or relocation in the city.

Expedient Permit Process
City departments work closely with business and industry to expedite procurement of building and other required city permits. The goal is to become a partner in future city growth

Tax Abatements
Lake Dallas has targeted several specific types of business that are ideally suited with the future development of the community. To help make Lake Dallas more attractive to those targeted businesses, the City offers an aggressive tax abatement policy that helps offset the cost of relocation. The policy provides for a variable abatement rate based on the company investment in the community. Assistance is based on the company’s financial reports, the projected increased taxable value of building and equipment, and number of employees.

Development Grant For Sales Tax Rebate
Lake Dallas offers sales tax rebates. The amount of the grant and the length of time are determined on a case by case basis.

Development Fee Rebate Policy
Lake Dallas will consider a rebate of company development fees on a case by case basis.

Infrastructure Cost Share Policy
Lake Dallas considers participating in a company infrastructure costs on a case by case basis.

Skills Development Fund
This program, created in 1995, is administered by the Texas Workforce Commission and is intended to assist community and technical colleges meet industry and workforce needs. These funds can cover program design, instruction, texts, and reusable equipment.

Texas Leverage Fund
The TLF is an economic development bank offering financing to communities with the ED sales tax. This fund provides financing to local businesses for industry expansion or industrial park establishment

Capital Certified Development Corporation
This program offers long-term financing at a fixed interest rate for businesses in operation for at least three (3) years. The funds can be used for land, building, equipment and machinery.

Industrial Revenue Bonds
The State of Texas Industrial Revenue Bond Program is designed to provide tax-exempt financing to finance land and depreciable property for eligible industrial or manufacturing projects. The Development Corporation Act allows cities, counties, conservation and reclamation districts to form non-profit industrial development corporations or authorities on their behalf. The purpose is to issue taxable and tax-exempt bonds for eligible projects in their jurisdictions.

Negotiable local incentives
Incentives are awarded based on an Economic Impact Analysis. In addition, incentives might include workforce training funds, relocation allowances, infrastructure improvements, developed or undeveloped land, one-stop municipal permitting, waiver of municipal fees, Reinvestment Zone plus Job Fair assistance and sponsorship.

Other
The Lake Dallas Economic Development Corporation offers direct cash grants and/or a grant of land dependant upon certain criteria. Incentives are made, when appropriate, if Lake Dallas is in competition with one or more alternative locations and the offer of an incentive can induce or persuade a decision for Lake Dallas.

The Lake Dallas Economic Development Corporation incentive offers are predicated on three basic components:

  • The quality of those jobs (i.e the level of wage or salary)
  • The number of new jobs to be created in Lake Dallas
  • The amount of new capital investment

 

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