Texas Business Series: A Quick Intro to Statewide Economic Development Programs

Apr 7

Texas has a reputation for being a business-friendly state, and its economic development programs play a major role in maintaining that status. The state offers a range of programs aimed at helping businesses of all sizes grow, innovate, and thrive. Included in those programs are statewide economic development programs, including who they are designed to help, what they provide, and how to apply.

Texas Enterprise Fund (TEF) The Texas Enterprise Fund is a cash grant program designed to attract new business to the state or help expand existing ones. The fund offers grants ranging from $100,000 to several million dollars, depending on the size of the project and the number of jobs created. The program targets companies that are considering relocating or expanding in Texas and requires applicants to demonstrate that their project will generate significant economic benefits for the state.

To apply for the Texas Enterprise Fund, businesses must first submit an application that includes a detailed project proposal outlining the scope of their expansion plans, the number of jobs they plan to create, and the anticipated economic impact. The proposal is then reviewed by the governor's office, and successful applicants are invited to negotiate a grant agreement.

The Texas Economic Development Corporation (TxEDC) is a nonprofit organization that works to attract new businesses to Texas and support the growth of existing businesses in the state. The organization serves as a resource for companies looking to relocate or expand in Texas, offering a range of services to help them navigate the site selection process, access incentives, and connect with local economic development organizations. The target audience for the TxEDC includes companies of all sizes and industries, from startups to Fortune 500 companies.

One of the key services provided by the TxEDC is site selection assistance. The organization helps companies identify potential sites for their operations in Texas, providing data on demographics, labor force, transportation infrastructure, and other key factors. The TxEDC also offers guidance on state and local incentives that may be available to qualifying businesses, such as tax abatements, workforce training grants, and infrastructure improvements. To apply for assistance from the TxEDC, companies can submit an inquiry through the organization's website or contact one of its staff members directly. The TxEDC team will then work with the company to understand their needs and connect them with the appropriate resources and partners to support their relocation or expansion in Texas.

Texas Workforce Commission (TWC) The Texas Workforce Commission is a state agency that provides a range of services to help businesses recruit, train, and retain their workforce. The agency offers job posting and recruiting services, customized training programs, and assistance with job fairs and career events. The TWC also provides resources for businesses that are dealing with layoffs or downsizing.

To access the services offered by the Texas Workforce Commission, businesses can visit their local workforce center or contact the agency directly through their website or phone number. The TWC also offers online resources and tools to help businesses navigate the hiring process and find qualified candidates.

Texas Small Business Development Center (TSBDC) The Texas Small Business Development Center is a network of centers across the state that provide consulting, training, and other resources to help small businesses start, grow, and succeed. The TSBDC offers one-on-one counseling services, training workshops, and access to funding opportunities and other resources.

To access the services offered by the Texas Small Business Development Center, businesses can visit their local center or contact the network through their website or phone number. The TSBDC also offers online resources and tools to help entrepreneurs and small business owners navigate the challenges of starting and growing a business.

The Texas Military Preparedness Commission (TMPC) works to support the military presence in Texas and strengthen the state's defense industry. The commission focuses on enhancing the readiness and resilience of Texas military installations, promoting the economic impact of military activities in the state, and advocating for military issues at the state and national levels. The target audience for the TMPC includes military installations, defense contractors, and other businesses that support the military in Texas.

One of the primary services provided by the TMPC is assistance to military installations and their surrounding communities. The commission works with local and state partners to identify and address issues that may impact the viability and sustainability of military installations in Texas, such as encroachment, land use conflicts, and infrastructure needs. The TMPC also provides support to defense contractors and other businesses that work with the military, including assistance with workforce development, procurement opportunities, and supply chain management. To apply for assistance from the TMPC, interested parties can contact the commission directly or visit its website to learn more about the available programs and services. The TMPC team will then work with the applicant to understand their needs and connect them with the appropriate resources and partners to support their military-related activities in Texas.

Texas offers a range of statewide economic development programs aimed at helping businesses of all sizes grow and succeed. Whether you are a large corporation looking to expand or a small business just starting out, there are resources available to help you achieve your goals. By taking advantage of these programs, you can tap into the state's business-friendly environment and take your business to the next level.