The Allen Economic Development Corporation has a proven track record of assisting businesses with incentives at the local, state, and federal level.
These incentives are awarded on a case-by-case basis according to the type of industry, capital investment, annual payroll and number of jobs created.
As a Type-A Corporation, the Allen Economic Development Corporation receives dedicated revenue from a 0.5% sales tax. Backed by a healthy fund balance, cash grants are available for qualified businesses to assist with the following expenses:
The City of Allen and Collin County can reduce the property tax obligations of a project’s real and business personal property for up to 10 years.
Texas dedicates over $48 million to workforce training. Collin College partners with companies to apply for these grants and designs customized training programs in as little as six months.
Inventory to be exported from the sate is exempt from property taxes. Companies in Allen claiming this exemption have saved an average of $695,000 on property taxes over the last five years.
The Texas Enterprise Fund (TEF) is the nation’s largest “deal-closing” fund. Cash grants are awarded to businesses expanding or relocating in the state. For more information, visit the Fund’s website or contact us.
State funds are available to assist with customized job training offered by Collin College’s Center for Workforce and Economic Development. For more information, visit the state’s website.
Companies with fewer than 100 employees can train new workers and upgrade skills of incumbent workers with access to all credit and continuing education courses offered through Collin College. The program offers a grant of up to $1,800 per employee for each new employee being trained and $900 per employee for existing employees that are hired within the previous 12 months. Learn more on the state’s website.
Qualified data centers receive an exemption on state use and sales tax (6%) on hardware and other equipment. Contact us for more information.
Companies engaged in research and development operations can receive a reduction in either their state sales tax or franchise tax via the Texas Research & Development Incentive Program. Contact us for more information.
Businesses relocating to Texas can deduct qualified relocation expenses from their state franchise taxes.
Board meetings are generally held the third Wednesday of each month, but for major projects under a tight deadline, special meetings can be called within 72 hours.