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Texas Enterprise Fund

The Texas Enterprise Fund (TEF) is the largest "deal-closing" fund of its kind in the nation and averages $4000 per job for a minimum of 25 jobs in Kilgore.  The fund is used as a final incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out-of-state option. Since its inception in 2004, the TEF has awarded over 100 grants totaling more than $500 million across a wide variety of industries and projects. TEF Award Listing – All Projects to Date (as of January 31, 2017).
 

To be eligible, a project must meet the following criteria:

  • Competition with another state for the project must exist and the business must not have already made a location decision.
  • Projected new job creation must be significant – past recipients have typically created more than 75 jobs in urban areas or more than 25 in rural areas.
  • The new positions must be high-paying jobs – above the average wage of the county where the project would be located.
  • Capital investment by the company must be significant.
  • A significant rate of return on the public dollars being invested in the project must be demonstrated.
  • The project must have community involvement from the city, county, and/or school district, primarily in the form of local economic incentive offers.
  • The applicant must be a well-established, financially sound business.
  • The applicant's business sector must be an advanced industry that could potentially locate in another state or country.
  • The Governor, Lieutenant Governor, and the Speaker of the House must unanimously agree to support the use of TEF for each specific project.

 

How to Apply

Each applicant undergoes a thorough 11-step due diligence process. Corporate activity, financial standing, tax status, legal issues, credit ratings, and estimated economic impacts, as well as the business climates of competition locations are assessed for each project and taken into consideration for all award decisions. Download application »

 

Administration/Contact

The Economic Development & Tourism division of the Office of the Governor administers the Texas Enterprise Fund.
Contact Nicole Ryf, Economic Development Finance Director, at (512) 936-0275 if you have a project you believe may be a good applicant for TEF.

 

Find out more:

Texas Enterprise Fund 2017 Legislative Report

Texas Enterprise Fund Overview