Texas Enterprise Zone Program Overview and Nomination Proposal
Learn about the Texas Enterprise Zone Program administered by the State of Texas, how it works, the nomination process, and a proposal for Powell Electrical Systems, Inc. in Houston. Discover the investment levels, job allocations, and potential refunds available through this economic development initiative.
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Presentation Transcript
Mayors Office of Economic Development Texas Enterprise Zone Program Texas Enterprise Zone Program Andrew Busker Senior Staff Analyst Economic Development Committee Economic Development Committee April 16, 2025 April 16, 2025
Texas Enterprise Zone Nomination Texas Enterprise Zone Nomination for June 2 for June 2nd Application Deadline Application Deadline nd
Texas Enterprise Zone Texas Enterprise Zone TX Tax Code Chapter 2303 TX Tax Code Chapter 2303 Program is administered by the State of Texas and has a quarterly rolling application process. Local governments nominate eligible projects. Nominated companies apply directly to the Governor s Office. A county can only nominate a project through an interlocal agreement with the municipality in which the project is located (includes city limits and ETJ). The State provides a reimbursement of state sales/use taxes to awarded projects. Nominations do not require any funding from the municipality. Both municipalities and counties are allotted 9 nominations each state biennium. Unused nominations are forfeited at the end of the biennium (August 31, 2025). June 2ndis the 8thand final nomination round in this biennium cycle Nominated 4 projects so far 3 were awarded a TEZ designation Proposing to use 1 of our 5 remaining nominations
Texas Enterprise Zone Texas Enterprise Zone TX Tax Code Chapter 2303 TX Tax Code Chapter 2303 LEVEL OF CAPITAL INVESTMENT MAXIMUM NUMBER OF JOBS ALLOCATED MAXIMUM POTENTIAL REFUND MAXIMUM REFUND PER JOB ALLOCATED PROJECT CATEGORIES 250 Half Enterprise $40,000 - $5,000,000 or more $625,000 $2,500 (total new & retained) 500 Enterprise $5,000,000 - $149,999,999 $1,250,000 $2,500 (total new & retained) 500 Double Jumbo $150,000,000 - $249,999,999 $2,500,000 $5,000 (new jobs only) 500 Triple Jumbo $250,000,000 or more $3,750,000 $7,500 (new jobs only)
MOED Proposes TEZ Nomination TEZ Nomination for City Council for City Council Consideration Consideration Powell Electrical Systems, Inc. 7232 Airport Blvd, Houston 77061 8550 Mosley Rd, Houston 77075 for Texas Enterprise Zone nomination
TEZ Nomination TEZ Nomination Powell Electrical Systems, Inc. Powell Electrical Systems, Inc. 7232 Airport Blvd, Houston 77061 8550 Mosley Rd, Houston 77075 Project Sites: Located in District I Located in and near Enterprise Zones (A census block group with greater than 20% poverty) Project Investment: Creating 15 jobs and retaining 649 jobs $105,512 average salary TEZ program caps benefit at 500 jobs $8M investment Mosley ($6M): Wastewater system replacement and upgrades to machinery and equipment Airport ($2M): HVAC and IT infrastructure upgrades Project Site 7232 Airport Project Site 8550 Mosley
Proposed Council Action Timeline Proposed Council Action Timeline June 2, 2025 Nomination Resolution on Agenda Target Application Deadline for State of Texas April 30, 2025
