Business
Overview: Incentives for Business in Uvalde
· Uvalde is now a Federal Enterprise Community And Empowerment Zone, which means qualifying companies can receive up to $3,000/person in Federal Employment Tax Credits.
· Uvalde has an active Economic Development Foundation and a $600,000 Revolving Loan Fund.
· Uvalde has an unusually well developed airport for a small town. The airport is large and serves as a hub for three jet renovation companies.
· Uvalde has a junior college and university satellite campus.
· Companies can save 50% of wages for the first 6 months. The Work Force Training Program will pay them for participating employees.
· Approximately 2,000 Uvalde County residents are currently looking for a job, whether they are now unemployed or are looking for a new job.
· The unemployment rate in Uvalde County is approximately 7.1-10%.
· Southwest Texas Junior College and Sul Ross University offer a ready pool of employees via their students and graduates.
· Flexibility in site design and built-to-suit options is available.
· Resource assistance is provided to help secure financing
· Tax abatements, on a case-by-case basis, from city and county are available.
· Planned and protected environment
· Abundant and well-managed natural resources
To learn more information about the Empowerment Zone, please visit the
Uvalde Area Development Foundation
Some of the EZ information includes:
Tax Credits
Expensing
Bond Financing
Capital Gains
Eligible Businesses
"Qualified Business" Definition
Wage Credit Calculation
Welfare to Work Tax Credit
Employee--Credit Amount
Credit Procedures
Business Operational Requirements
Qualified Zone Property
Environmental Cleanup Deduction
A Tax-Exempt Bond Transition
Time Period for Meeting EZ Business Definition