Do Business Here
The Belton Economic Development Corporation will assist companies looking to expand or relocate to Belton by accessing different local and state programs. BEDC incentives are based on job creation and capital investment and are primarily intended for manufacturing and industrial development, warehouse and distribution, research and development facilities, headquarter facilities and information technology.
BEDC has successfully worked with the city, county and state officials to offer competitive incentive packages tailored to meet the needs of existing expanding companies, as well as new companies moving to Belton.
Tax Rate Information
Local Property Tax |
$0.5225 |
Bell County |
$0.3128 |
Bell County Road |
$0.0199 |
Belton ISD |
$1.1494 |
Clearwater UWCD |
$0.00223 |
Bell County WCID#6 |
$0.0239 |
Local Sales Tax |
$0.02 |
State Sales Tax |
$0.0625 |
Local
Belton Economic Development Corporation Agreements
BEDC is a Type A Corporation funded by a 1/2 cent sales tax. Though this fund, BEDC has the ability to offer land grants, make infrastructure improvements, and build-to-suit projects. Additionally, performance-based cash incentives will be considered on a case-by-case analysis for building modifications, fixed equipment, hiring and job training assistance and equipment relocation/moving expenses.
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Local
Chapter 380 Economic Development Agreements
Chapter 380 of the Texas Local Government Code allows Belton to offer a range of incentives for economic development, including the ability to rebate some of the city's portion of the 1.0% sales and use tax collected from business entities located in the jurisdiction.
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Local
Development Assistance and Fees Waivers
The City of Belton has a professional, business friendly staff offering a one-stop process for permitting.
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Local
Employee Training
BEDC works closely with our regional workforce center and local colleges to assist with training needs.
In addition to the availability of local funds for training, the State of Texas has several training programs to include Skills Development Fund, Skills for Small Business, Self-Sufficiency Fund and programs designated for Veterans entering the workforce.
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Local
Façade Improvement Grants
The City of Belton Facade Improvement Grant Program provides supplemental funds for exterior work on storefronts, commercial buildings, and commercial residential buildings that are visible to the traveling public in the Downtown Development District.
The grants are available on a 50/50 matching basis with a cap of $25,000 for primary facade and $10,000 per secondary façade, with a maximum of two secondary facades adjacent to a public street. The maximum grant per project is $45,000. Facade Grant funds focus on exterior work (visible to the traveling public) on storefronts, commercial buildings and commercial residential buildings in the Downtown Development District.
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Local
Historical Tax Credits
The City of Belton has designated five Historic Districts throughout Belton, with a large percentage of the structures contributing to the historical designation in each district. As a result of this designation, contributing income-producing buildings may be eligible for state and federal tax credit programs.
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Local
Property Tax Abatements
Property Tax Abatements are available from the City of Belton and Bell County for new improvements to real property. The threshold requirement for this program is an investment in real property of at least $250,000, a $1,000,000 investment in personal property or the creation of a minimum of 25 jobs. The property must be located in, or able to be designated as, a Reinvestment Zone, as designated by the City of Belton. Additionally, the facility must qualify as an authorized facility. BEDC staff will facilitate the tax abatement request and application process with the City and County.
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Local
Tax Increment Reinvestment Zones
The City has historically utilized Tax Increment Reinvestment Zones (TIRZ) as a powerful vehicle to develop and redevelop qualified projects based on City goals and objectives. Tax Increment Reinvestment Zones help facilitate development and redevelopment projects, resulting in an overall increase in the value of the commercial property. Tax increment financing may be available to finance needed public improvements.
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State
Economic Development and Diversification In-State Tuition for Employees
Economic Development & Diversification In-State Tuition for Employees is a program that allows employees—and those employees’ family members—of a qualified business considering a relocation or expansion of its operations in the State of Texas to pay in-state tuition rates at public institutions of higher education in the state without first establishing residency.
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State
Product Development and Small Business Incubator Fund
The Product Development and Small Business Incubator Fund (PDSBI) is a revolving loan program financed through original bond issuances. The primary objective of the program is to aid in the development, production, and commercialization of new or improved products and to foster and stimulate small business in the State of Texas.
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State
Skills Development Fund
The Skills Development Fund is Texas' premier job-training program providing local customized training opportunities for Texas businesses and workers to increase skill levels and wages of the Texas workforce.
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State
Texas Enterprise Fund
The Texas Enterprise Fund (TEF) awards “deal-closing” grants to companies considering a new project for which one Texas site is competing with other out-of-state sites. The fund serves as a financial incentive for those companies whose projects would contribute significant capital investment and new employment opportunities to the state’s economy.
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State
Texas Enterprise Zone Program
The Texas Enterprise Zone Program (EZP) is a state sales and use tax refund program designed to encourage private investment and job creation in economically distressed areas of the state.
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Federal
Opportunity Zone
To stimulate private participation in revitalization of economically distressed areas, taxpayers who invest in Qualified Opportunity Zones are eligible to benefit from capital gains tax incentives available exclusively through this new legislation.
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