The Skills Development Fund provides customized job training for local businesses. The Texas Workforce Commission administers this program, providing an average benefit of $1,000 per employee.
Texas Enterprise Zone Program
An enterprise may be eligible for a refund of state sales and use taxes paid for building materials, machinery, equipment, electricity, and natural gas purchased as part of the normal course of business depending on the number and the type of jobs created.
Companies are also exempt from state sales and use tax on electricity and natural gas if at least 50% of the consumed electricity or natural gas directly causes a physical change to a product.
Local Incentives & Programs
The State of Texas has designated Matagorda County as a Strategic Investment Area. As a result, eligible corporations have access to franchise tax credits that are sometimes as much as 25% of total wages and salaries paid for qualifying jobs during the year.
New jobs created in Bay City can qualify for further tax incentives over a set period of time to assist with business-related expenses.
The City of Bay City, Port of Bay City, and Matagorda County all have tax abatement policies that can last for 5 to 10 years depending on the investment and jobs created.
In addition to these many incentives, Matagorda County is also entitled to financial resources to provide infrastructure and for real estate development to assist businesses in creating permanent jobs.