Kilgore values its industries as important business partners by offering a flexible portfolio of state and progressive local incentives, including local direct incentives.
The Chapman Loan Program is designed to provide long-term financing to eligible businesses.
Chapter 380/381 (Section 380.001) of the Local Government Code, authorizes municipalities and counties to offer a range of incentives designed to promote state or local economic development.
Direct incentives are based on total economic impact of a project, including capital investment and job creation.
A freeport exemption is a permanent property tax exemption on inventory. This exemption applies to goods, wares, ores and merchandise that will be transported outside the state of Texas within 175 days or less. Exceptions include oil, gas and petroleum products (defined as liquid and gaseous materials immediately derived from refining petroleum or natural gas) and to aircraft or repair parts used by a certified air carrier.
The CDC/504 Loan Program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation. 504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.
Qualifying businesses considering a location in Kilgore have the opportunity to apply for a property tax abatement on new property value created.
The City has historically utilized Tax Increment Reinvestment Zones (TIRZ) as a powerful vehicle to develop and redevelop qualified projects based on City goals and objectives.
The program allows employees of a qualified business—along with the family members of those employees — considering a relocation or expansion of its operations in the State of Texas to pay in-state tuition rates at public institutions of higher education in the state without first establishing residency.
In Texas a company may deduct moving expenses from their apportioned margin while calculating their franchise liability if the company relocates its principal place of business to Texas from out of state if the business meets the criteria
The State of Texas Industrial Revenue Bond Program (IRB) is designed to provide tax-exempt or taxable financing for eligible industrial or manufacturing projects. These projects typically involve significant private activity.
Manufacturing Exemptions provide state sales and use tax exemptions to taxpayers who manufacture, fabricate or process tangible property for sale.
A Texas constitutional amendment providing an exemption from property taxation for pollution control was approved in 1993. The intent was to ensure that compliance with environmental mandates, through capital investments, did not result in an increase in a facility's property taxes.
The Product Development and Small Business Incubator Fund (PDSBI) is a revolving loan program financed through original bond issuances. The primary objective of the program is to aid in the development, production and commercialization of new or improved products and to foster and stimulate small business in the State of Texas.
The Skills Development Fund is Texas' premier upskilling program. SDF grants provide site-specific, customized training opportunities for Texas businesses and their employees to increase skill levels of the Texas workforce.
The Texas Enterprise Fund (TEF) awards “deal-closing” grants to companies considering a new project in the state. One Texas site must be competing with at least one other viable out-of-state site. The fund serves as a financial incentive for those companies whose projects would contribute significant capital investment and new employment opportunities to the state’s economy.
The Texas Enterprise Zone Program (EZP) is a state sales and use tax refund program designed to encourage private investment and job creation in economically distressed areas of the state.
Kilgore, Gregg County includes Qualified Opportunity Zones. To stimulate private participation in revitalization of economically distressed areas, taxpayers who invest in Qualified Opportunity Zones are eligible to benefit from capital gains tax incentives available exclusively through this new legislation.
Business Programs provide financial backing and technical assistance to stimulate business creation and growth. The programs work through partnerships with public and private community based organizations and financial institutions to provide financial assistance, business development, and technical assistance to rural businesses.
Foreign-Trade Zones (FTZ) are secure areas under U.S. Customs and Border Protection (CBP) supervision that are generally considered outside CBP territory upon activation. Located in or near CBP ports of entry, they are the United States' version of what are known internationally as free-trade zones. KEDC has worked with companies to establish an FTZ for local operations.
In the Kilgore area, a number of angel investors have organized themselves into an angel network to share research and pool their investment capital, as well as to provide advice to their portfolio companies.
The Commercial Solutions Program offers local government and businesses both cash and non-cash incentives for implementing energy efficiency improvements. These incentives are available for qualifying measures in new and retrofit projects. SWEPCO has partnered with CLEAResult to implement the Program.
