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Enterprise Zone
Tom Green County/San Angelo Enterprise Zone
The Zone was created by the Texas Department of Economic Development in 1996, and renewed in September of 2003. Unlike the local tax abatement program, all businesses are eligible for designation as a “project.” However, there are a limited number of projects selected state-wide, so job creation and job quality are important considerations for each project.
Companies that are approved as designated projects within the zone are eligible for sales tax refunds of up to $2,000 per new employee over the 5 year period. The total amount of tax refunds is capped at $1,250,000 per company over the 5 years. An additional advantage to the program is a refund of state franchise taxes paid. The company receiving the benefits of the program must agree to hire 25% of their new employees from within the zone.
