Palestine is committed to business development, employee recruitment and retention. It's corporate and government leaders know that economic growth begins with affordability. Existing and emerging companies, as well as individual entrepreneurs and mid-sized concerns, can take advantage of a number of tax incentives, covering significant investment areas like natural gas and electricity, machinery and equipment. Enterprise Zones reward innovation. And a number of incentives exist for research and development, as well as continuing education.
Tax abatement on real and personal property improvements may be granted by all taxing entities except the local Independent School Districts. The company must meet requirements associated with the value of capital improvements and either job creation or payroll increases maintained throughout the term of the agreement. ...
Freeport Tax Exemption Freeport property includes goods, wares, merchandise, and other tangible personal property acquired in Texas or brought into Texas and held here 175 days or less before being shipped out of the state. The property must be here for assembling, storing, manufacturing, repair...
Economic Development Sales Tax Incentives The Palestine Economic Development Corporation (PEDC) was created by the voters in 1998 to use the revenue generated by a 1/4 cent sales tax for economic development to encourage the creation and retention of jobs and capital investment in Palestine...
The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation and significant private investment that will assist economically distressed areas of the state.