Sales Tax for Economic Development

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 PEDC Board of Directors work with interested parties for the use of these funds as an incentive to locate or expand in Palestine. The amount and type of the incentive depends upon the economic impact of the project and the specific needs of the company. Incentive funds can be applied to costs associated with land or facility acquisition, facility construction, remodeling, infrastructure, training programs, moving expenses, etc. according to the terms of an economic development agreement between PEDC and the company.  

The Board of Directors of PEDC have set a minimum capital investment of $500,000 and 5 jobs created as the minimum eligibility requirement for consideration of incentives.