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.  One tax abatement approved in FY2017, became effective during FY 2020.  At the end of FY 2020, the City had seven 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 17 active economic development agreements, which have helped to create or retain 618 jobs in the City in FY 2020.  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 IncentiveProperty Tax (General Fund)Sales Tax (General Fund)GEDC

Gainesville Northtown

 Plaza, LLC

4321 N I-35Renovation/ Increase in Value of Facility$23,500,000FY 2020FY 2030$2,000,000

North

Gainesville Solar

Adjacent to I-35Build Solar Generation Facility$7,500,000FY 2018FY 2027$215,000

First State BankI-35 & HWY 82HQ & Operations Center$18,000,000FY 2019FY 2028$1,142,000

Orison Holdings400 S CulbersonApartment Complex$16,000,000FY 2018FY 2027$857,000

BMCA

Gainesville

1401 Load MasterExpand Manufacturing Facility$26,000,000FY 2014FY 2023$250,000


chapter 380 agreements

Company (with link to documents)LocationSummaryTotal Estimated InvestmentStartEndEstimated Value of IncentiveFunding Source
General Fund
GEDC
Property TaxSales Tax
1410 O'NealDemolition of Gainesville Memorial Hospital
N/A
FY 2021FY 2022$750,000

Gainesville Northtown  Plaza, LLC

4321 N I-35Sales Tax Rebate$23,500,000FY 2020FY 2040$4,500,000


Complete Energy Services
3333 N I-35Maintain Manufacturing and Increase Sales FunctionN/AFY 2012FY 2022$300,000


Select Energy
1820 I-35
Sales Tax RebateN/AFY 2018FY 2023$500,000

 

 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

Gainesville Northtown  Plaza, LLC

4321 N I-35Sales Tax Rebate$23,500,000FY 2020FY 2040$150,000

Select Energy1820 I-35Sales Tax RebateN/AFY 2018FY 2023$125,000

A summary of economic development agreements in effect as of  FY2021 is presented below.

City of Gainesville

Tax Abatement AgreementsChapter 380
 Agreements
EDC 4B 
Incentives
Total Number of Agreements755
Estimated Taxes Abated/Incentive - Year 1 of Agreement$823,600$575,600$472,500
Estimated Taxes Abated/Incentive Per Capita-Year 1 of Agreement$49.02$34.26$28.12
Estimated Taxes Abated/Incentive - Total Agreement$8,236,000$7,153,000$910,000
Number of Jobs Created/Retained475201299
Estimated Capital Investment Received $196 million$33.5 million$34.1 million


2022 Actual Economic Incentives

2022 Number Economic Incentive Agreements

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 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.