6.a.
TCEDC Agenda
- Meeting Date:
- 08/16/2023
- Title:
- Establishing a business incentive grant program for businesses located in city limits of Texas City, Texas
- Submitted For:
- Kristin Edwards
- Submitted By:
- Kristin Edwards, Economic Development
- Department:
- Economic Development
ACTION REQUEST (Brief Summary)
Discussion and possible action on Resolution 2023-18, establishing a business incentive grant program for new or existing businesses located within the city limits of Texas City, Texas.
BACKGROUND
The Texas City Economic Development Corporation allocates funds each fiscal year to support business incentives.
Effective upon EDC approval, staff is proposing a business incentive grant program to provide existing businesses within the City of Texas City with up to $5,000 in grant assistance. In addition to contact and staffing/budget information, eligible businesses would be required to provide proof of operation of at least one (1) year, as well as demonstrate the need for assistance.
Staff is proposing that this grant be issued up to two (2) times per fiscal year, based on need. All applications will be presented to the EDC for approval.
This incentive program would complement the existing efforts of the EDC to bolster economic development in the City of Texas City. The addition of this program would not negatively impact or change the proposed FY24 budget previously reviewed by the EDC.
Effective upon EDC approval, staff is proposing a business incentive grant program to provide existing businesses within the City of Texas City with up to $5,000 in grant assistance. In addition to contact and staffing/budget information, eligible businesses would be required to provide proof of operation of at least one (1) year, as well as demonstrate the need for assistance.
Staff is proposing that this grant be issued up to two (2) times per fiscal year, based on need. All applications will be presented to the EDC for approval.
This incentive program would complement the existing efforts of the EDC to bolster economic development in the City of Texas City. The addition of this program would not negatively impact or change the proposed FY24 budget previously reviewed by the EDC.
ANALYSIS
To establish a business incentive grant program for new or existing businesses located within the city limits of Texas City, Texas.