State Incentives

Texas Enterprise Fund (TEF)

The TEF was created by the Texas Legislature in 2003 as a "deal closing fund".  To be eligible for TEF support, a project must demonstrate a significant return on the state’s investment and strong local support.
 
The review process considers a variety of factors, including job creation and wages, capital investment, financial strength of the applicant, applicant’s business history, analysis of the relevant business sector, and public and private sector financial support.
 
With TEF Texas has the ability to respond quickly to opportunities to bring companies and jobs to Texas.  TEF was renewed for 2007-09 bienium for $180M and again in 2009-2011.  Four Richardson projects have received Enterprise Fund incentives:
  • VCE (Virtual Computing Environment) received funding for its headquarters in Richardson
  • Countrywide Financial (now Bank of America) expansion & relocation
  • Texas Instruments 300mm semiconductor wafer fabrication plant
  • Rockwell Collins – telecommunications and defense contractor

For more information on these state incentives, go to the Office of the Governor.


Texas Workforce Commission Skills Development Fund (SDF)

The SDF is a program of the Texas Workforce Commission to assist Texas businesses by designing, financing and implementing customized job training programs. The SDF assists both new and local businesses by providing funds for customized job training. By partnering with local community colleges, technical schools or higher education agencies, local businesses may benefit directly from SDF grants.

 

During Fiscal Year 2009, TWC:
  • Awarded 45 Skills Development Fund grants totaling $23,612,149
  • Served 170 Texas businesses
  • Supported the creation of 3,567 new jobs and
  • Upgrading the skills of 15,949 workers in existing jobs
For the next two fiscal years (September 1, 2009 – August 31, 2011), TWC has $90 million
in Skills Development Funds to support high quality, customized job training projects across the state.
Grants for a single business may be limited to $500,000.

Who is Eligible for the Texas Skills Development Fund?
  • Applying company has to have or develop a training plan to create or retain jobs which pay the prevailing wage for occupations in their local labor market.
  • The Texas Skills Development Fund proposal is prepared with assistance from education partner and submitted to the Texas Workforce Commission.
  • Richardson companies partner with Richland College’s Corporate Services  or the Business Solutions Group at Collin College on Skills Development grant proposals.
  • Texas Workforce Commission determines grant funding.
  • For more information, visit TWC website.

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