CITY OF CONVERSE ECONOMIC DEVELOPMENT INCENTIVES
Frequently Asked Questions (FAQ)/Incentive Process
Why Incentivize Businesses to Come to Converse?
The Converse EDC offers financial incentives to:
ü Compete with other communities;
ü Attract businesses for relocation or expansion;
ü Build an environment conducive for wealth generation in Converse;
ü Create economic opportunity for existing businesses and entrepreneurs; and
ü Improve the quality of life for Converse residents.
What Businesses are we Seeking to Attract?
The following are our target industries:
ü Retail: All sectors, including Destination Retail and Entertainment
ü Hospitality: Hotels, Restaurants and Meeting Space
ü Healthcare: Hospitals, Care Centers, BIOMED and Medical Support
ü Sustainable: Information Technology and “Green” Industries
ü Construction and Manufacturing
What is in it for you: Our incentives
The Converse EDC has financial resources available for incentives. Through direct financial incentives and other programs, Converse has many of the tools necessary to help attract businesses and investment. The value of an incentive is based on an economic impact analysis determining the return on investment to Converse.
What are the Programs Available: Our Toolbox
Incentive Programs offered by Converse include:
Ø Real Estate and Infrastructure Investments
Ø Type B Economic Development Sales Tax
Ø Capital Investment Reimbursement Grants, including Building Fees and Permits
Ø Inter-local Agreements
Ø Debt Financing
Ø Tax Increment Financing District (TIF)/Tax Increment Reinvestment Zone (TIRZ)
Ø Chapter 380 Agreements
Ø Tax Abatements
Ø Triple Freeport Tax Exemptions
Other Incentive programs include:
Ø Enterprise Funds
Ø Enterprise Zones
Ø Skills Development Funds (Workforce Development)
Ø Foreign Trade Zone Designations
Ø EB-5 Incentives
What We Base it On: Our Criteria
Converse incentivizes projects that:
What is a Primary Job?
Primary jobs are jobs created by businesses that export products & services to regional, statewide, national or international markets. Businesses that create primary jobs must fall in a series of categories listed under State law. (Section 501.002 of the Texas Local Government Code)
How Do I Get Started?
Contact the Converse EDC Toll-free at 1-888-934-5020; 210-659-9163 or by e-mail at firstname.lastname@example.org.
What Happens Next?
1. Pre-screening/Pre-Qualification meeting(s) with EDC Staff
2. Incentive Survey (download on website)
3. Economic Impact Analysis by EDC Staff via Third Party
4. Additional Information and Negotiation with EDC/City Staff
5. Approval of Incentive Package by EDC Board and/or City Council
6. Development of Performance Agreement by Staff/Attorney
7. Execution of Agreement
*If you experience trouble downloading survey, please send email to email@example.com and we can send it to you in excel format.
The Converse Economic Development Corporation (EDC) Board is proud to announce a newly adopted Grant Program to benefit existing businesses located in the city limits of Converse. The newly adopted program includes: Façade and Signage Improvement Program (FSIP), and a Capital Investment Program (CIP). The FSIP Program offers a grant of up to $10,000 for the funding of well-designed improvements, including City-approved signage. The CIP Program offers a grant of up to $2,000 for equipment purchases that will increase sales and create jobs.
|Download Grant Guidelines and Application|
In Converse, all three taxing entities – city, county and school district – have enacted the Freeport Tax Exemption on all eligible inventory.
If your warehouse is located in Converse, your company does not have to pay an inventory tax on goods that move in and out of Texas within a 175 day period. This exemption applies to inventory that is exported out of Texas within 175 days of the date acquired or brought into the State.
The State of Texas is committed to the attraction of new businesses and the retention and expansion of existing businesses within the State. Through the Office of the Governor and the Department of Tourism and Economic Development, the State offers many incentives and programs to companies looking to locate or expand in Texas.
Below is a document summarizing each of the State’s available programs. Please contact the CEDC Executive Director at (210) 659-9163 for more information on individual programs and for assistance on how to apply.
The City of Converse is commited to the promotion of quality development in all parts of the City and to improving the quality of life for its citizens. In order to help meet these goals, the City of Converse will consider providing tax abatements to stimulate economic development in Converse. It is the policy of the City of Converse that such abatements will be provided to appropriate businesses in accordance with the procedures and criteria outlined in Ordinance 209. However, nothing in this policy shall imply or suggest, or be construed to imply or suggest, that the City of Converse is under any obligation to provide any abatement to any applicant; all applications for tax abatement shall be considered on an individual basis.
Below is the Tax Abatement Application document. Please contact the CEDC Executive Director at (210) 659-9163 for more information regarding tax abatement.