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State of Texas Incentives <br />Texas Enterprise Fund <br />The Texas Enterprise Fund provides financial resources to help strengthen the state's <br />economy. The Governor, Lieutenant Governor, and the Speaker of the House must <br />unanimously agree to support the use of the Texas Enterprise Fund for each specific project. <br />Projects that are considered must demonstrate a project's worthiness, maximize the benefit to <br />the State of Texas and realize a significant rate of return of the public dollars being used for <br />the project. Significant job creation and capital investment, above average wages generated, <br />financial strength of the applicant, applicant's business history, analysis of the relevant <br />business sector, and financial support from the local community and private sector will all be <br />significant factors in approving the use of the Enterprise Fund. <br />Texas Emerging Technology Fund <br />The Texas Emerging Technology Fund provides Texas with an unparalleled advantage in the <br />research, development and commercialization of emerging technologies. The program works <br />through partnerships between the state, institutions of higher education and private industry <br />and is dedicated to three areas: Regional Centers of Innovation and Commercialization; <br />matching grant funds for R&D projects that accelerate commercialization and that have <br />demonstrated an ability to receive or have received federal grants or non-state grants; and <br />assisting Texas public universities in attracting highly renowned research teams from <br />universities and institutions in other states. <br />Skills Development Fund <br />The Skills Development Fund offers funding to train employees through customized job <br />training programs provided by the state's community colleges. This fund is administered by the <br />Texas Workforce Commission, is application driven and competitively based. The grants are <br />provided to community colleges and technical schools as part of a partnership with companies <br />and labor unions to provide training not currently available in the region. Average training <br />grants per trainee are $1,000. <br />Texas Enterprise Zone Program <br />The Texas Enterprise Zone Program allows local communities to partner with the State of <br />Texas to promote job creation and capital investment in economically distressed areas. <br />Companies may qualify for refunds of state sales tax paid on eligible items used at the <br />qualified business site. The total amount of any refund is predicated on the investment amount <br />and number of jobs created/retained at the qualified business site. In order to qualify, <br />companies must commit that at least 25% of their new employees will meet economically <br />disadvantaged or enterprise zone residence requirements - if the company is locating or <br />expanding into one of the state's Enterprise Zones. If the company is not locating into one of <br />the Enterprise Zones, then they must commit that at least 35% of their new employees will <br />meet economically disadvantaged or enterprise zone residence requirements. <br />Manufacturing Sales Tax Exemption <br />Machinery and equipment that is used in the manufacturing, processing, fabricating or <br />repairing of tangible personal property for ultimate sale, are exempt from state and local sales <br />State of Texas Incentives <br />City of La Porte Economic Development Incentives, Page | 5 <br /> <br />