Economic Development Incentives

The City of Gainesville, Texas is committed to the promotion of high quality development in all parts of the City, and to an ongoing improvement in the quality of life for its citizens. Due to this objective, the City of Gainesville will, on a case by case basis, consider providing tax abatements as a stimulus for development in Gainesville. A policy, any abatement consideration for a development will be provided in accordance with the procedures and criteria of the City’s Tax Abatement Guidelines. At the end of FY 2023, the City had five active tax abatement agreements.

The policy of the City of Gainesville and its component unit, the Gainesville Economic Development Corporation (GEDC) is to encourage new investment and business development through the utilization of grants, performance-based job creation grants, and other redevelopment grants, as authorized by Chapter 380, 501, 504, and 505 of the Texas Local Government Code.

The City and GEDC have 10 active economic development agreements, which have helped to create or retain 471 jobs in the City, not including an additional estimated 375 temporary jobs for construction. For more details on economic development incentives provided by Gainesville and the GEDC please see the City of Gainesville Economic Development Active Incentives tables below.

City of Gainesville Economic Development Active Incentives

Tax Abatement Agreements

Company (with link to documents)LocationSummaryTotal Estimated InvestmentStartEndEstimated Value of IncentiveActual Taxes
Abated as of 2023
Property Tax (General Fund)Sales Tax (General Fund)
Thirty-Five and Liberty, LLC4321 and 4323 N I-35Renovation and Increase of Value in Facility$17,000,000FY 2024FY 2033$650,000

North Gainesville Solar

Adjacent to I-35Build Solar Generation Facility$7,500,000FY 2018FY 2027$215,000$99,716
First State BankI-35 & HWY 82HQ & Operations Center$18,000,000FY 2019FY 2028$1,142,000$465,644
Orison Holdings400 S CulbersonApartment Complex$16,000,000FY 2018FY 2027$857,000$556,629


Chapter 380 Agreements

Company (with link to documents)LocationSummaryTotal Estimated InvestmentStartEndEstimated Value of IncentiveFunding Source
General Fund

GEDC
Property TaxSales TaxImpact Fees/Other
Lackland Liberty Pointe Development, LLCLocated off Radio Hill Rd.Development of Abstract No. 44 Cooke County, Texas 289.66 acres$245,960,000FY2023FY2033$600,000

Thirty-Five and Liberty, LLC4321 and 4323 N I-35Sales Tax Rebate$17,000,000FY 2022FY 2032$1,250,000


Summa Terra Ventures, LLCBroadway & Radio Hill Rd.Impact Fee Waiver/Construction of Apartment Complex$60,000,000FY 2022FY 2025$142,000


Summa Terra Ventures, LLCBroadway & Radio Hill Rd.Sales Tax Rebate$60,000,000FY 2023FY 2025$150,000



 

 EDC 4B Incentives

Company (with link to documents)

Location

Summary

Total Estimated Investment

Start

End

Estimated Value of Incentive

Funding Source

General Fund

GEDC

Property Tax

Sales Tax

Camp HowzeProperty DescriptionPerformance Agreement$9,600,000FY 2023FY 2030$500,000


Marching USA, LLC.251 FM 1201Performance Agreement$800,000FY 2023FY 2025$88,000


Thirty-Five and Liberty4321 N I-35Sales Tax Rebate$17,000,000FY 2023FY 2027$400,000


MESA Real EstateTBD Corporate Dr.Performance Agreement$7,125,000FY 2024FY 2027$167,500



A Summary of Economic Development Agreements in Effect as of FY2024 Presented Below:

City of Gainesville

Tax Abatement AgreementsChapter 380
 Agreements
EDC 4B 
Incentives
Total Number of Agreements:444
Estimated Taxes Abated/Incentive - Year 1 of Agreement:$311,400$224,432$20,833
Estimated Taxes Abated / Incentive Per Capita-Year 1 of Agreement:$17.73$12.78$1.19
Estimated Taxes Abated/ Incentive - Total Agreement:$2,864,000$2,142,000$1,155,500
Number of Jobs Created / Retained:358535322
Estimated Capital Investment Received:$58.5 million$322,960,000$34,525,000


Actual

Number of Economic Incentives Previous 5 Years 2024

Please note the City of Gainesville did not have any tax abatement agreements for the most recently completed fiscal year of 2023, or the prior fiscal year of 2022. Accordingly, for these years, there would be NO or ZERO:

   Estimated taxes abated in year one of agreements in total and per capita;

   Estimated taxes abated for the life of agreements;

   Number of jobs created/retained by agreements to date; and

   Capital investment received for agreements to date.

View the updated Tax Abatement Guidelines and Criteria

View the downloadable data for Economic Development Active Incentives.

View the Texas Comptroller of Public Accounts Economic Development Corporation Reports webpage and search tool.

View Statement No. 77 of the Governmental Accounting Standards Board (PDF) regarding Tax Abatement Disclosures. The City of Gainesville's financial statement disclosure concerning GASB Statement 77 is located on page 75 (footnote J) of the City's Annual Comprehensive Financial Report for the year ended September 30, 2022, or you can view it by clicking this link.

The City of Gainesville also received a star from the Texas Comptroller's Office in the area of Economic Development, which recognizes entities for their outstanding efforts in making information regarding tax abatements and other incentives granted readily available.