Incentives

INCENTIVES

Businesses in Allen are supported by a full menu of state and local programs to help them reach new heights.

The Allen Economic Development Corporation has a proven track record of assisting businesses with incentives at the local, state, and federal level.

Explore Incentives

Click a link below to learn more.

Local Incentives

These incentives are awarded on a case-by-case basis according to the type of industry, capital investment, annual payroll and number of jobs created.

Cash Grants

As a Type-A Corporation, the Allen Economic Development Corporation receives dedicated revenue from a 0.5% sales tax. Backed by a healthy fund balance, cash grants are available for qualified businesses to assist with the following expenses:

  • Relocation Assistance
  • Infrastructure Assistance
  • Job Training and Hiring Costs

Property Tax Abatements

The City of Allen and Collin County can reduce the property tax obligations of a project’s real and business personal property for up to 10 years.

Skills Development Fund

Texas dedicates over $48 million to workforce training.  Collin College partners with companies to apply for these grants and designs customized training programs in as little as six months.

Triple Freeport Inventory Exemption

Inventory to be exported from the sate is exempt from property taxes. Companies in Allen claiming this exemption have saved an average of $695,000 on property taxes over the last five years.

Other Local Incentives

  • School District Property Tax Value Limitations
  • Chapter 380 Grants
  • Tax Increment Financing (TIF) Districts

State Incentives

Texas Enterprise Fund

The Texas Enterprise Fund (TEF) is the nation’s largest “deal-closing” fund. Cash grants are awarded to businesses expanding or relocating in the state. For more information, visit the Fund’s website or contact us.

Skills Development Fund

State funds are available to assist with customized job training offered by Collin College’s Center for Workforce and Economic Development. For more information, visit the state’s website.

Skills For Small Business Program

Companies with fewer than 100 employees can train new workers and upgrade skills of incumbent workers with access to all credit and continuing education courses offered through Collin College.  The program offers a grant of up to $1,800 per employee for each new employee being trained and $900 per employee for existing employees that are hired within the previous 12 months. Learn more on the state’s website.

Texas Data Center Incentive

Qualified data centers receive an exemption on state use and sales tax (6%) on hardware and other equipment. Contact us for more information.

Texas Research & Development Incentive Program

Companies engaged in research and development operations can receive a reduction in either their state sales tax or franchise tax via the Texas Research & Development Incentive Program. Contact us for more information.

Business Relocation Deduction

Businesses relocating to Texas can deduct qualified relocation expenses from their state franchise taxes.

Incentive Process

The Allen Economic Development Corporation Board of Directors and staff seek to bring quality jobs and investment to our community.

How To Apply

We invite you to contact us to discuss your project and potential incentives.

You may also review the Prospect Questionnaire to see what information will be needed when applying for incentives.

How Long Does It Take?

Board meetings are generally held the third Wednesday of each month, but for major projects under a tight deadline, special meetings can be called within 72 hours.

Find Out More

The Steps

  • Staff qualifies the project and offers AEDC services

  • Company submits the Prospect Questionnaire to determine economic and fiscal impacts in the community

  • If possible, staff will visit the prospective company

  • Staff presents the project to the Board of Directors for consideration.

  • If approved, staff issues a term sheet for prospect to review

  • Economic Development Incentive Agreement is drafted and signed

  • Relationship and services with our Business Retention & Expansion Manager begin