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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.
 
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.
 
Application:
With a rolling application period, eligible companies must submit a complete application packet to be considered for a TEF grant. TEF applicants undergo a thorough 11-step due diligence screening process. Areas of focus include project competitiveness, corporate activity, financial standing, tax status, legal issues, credit ratings, estimated economic impact, and the business climates of competing locations. The Governor, Lieutenant Governor, and Speaker of the House review all applications and must unanimously agree to support the use of TEF for each applicant.

For more information and to download the application, please click HERE.