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Brady Economic Development Corporation

Kim Lenoir- Assistant City Manager

Located in

City Hall

201 E Main St

Brady, Texas 76825

325.597.2152

www.bradytx.us

 

LOCAL INCENTIVES

Brady and McCulloch County have several effective tools available as incentives for area economic development. Incentives are typically based on primary job creation and may vary on a case-by-case basis. We are also aggressively pursuing quality of life improving businesses and essential services such as day care, etc.

Economic Development Sales Tax
The citizens of Brady voted overwhelmingly to pass a half-cent 4A sales tax to be used for industry, manufacturing, and business attraction and retention. A city appointed board of five community leaders head the Brady Economic Development Corporation.


Reinvestment Zones

The City of Brady is capable of providing reinvestment zones for the purpose of tax abatements, tax increment financing and public improvement districts.

Tax Increment Financing
The City of Brady will consider using Tax increment Financing of needed public improvements in a defined area. This form of financing is backed by the tax increment generated by the development.

Property Tax Abatement
The City of Brady and McCulloch County will consider providing a property tax abatement on the appraised value of real property improvements and business personal property, to promote and retain high quality development in all areas of the city.

Chapter 380/381 Agreements
This sales tax sharing agreement in the form of a loan or grant is available to promote local economic development and to stimulate business and commercial activity in the city and county. 


STATE OF TEXAS INCENTIVES


Our local leaders can help you locate and apply for incentives offered by The State of Texas. A brief overview of available programs is listed below.

Texas Enterprise Fund
This fund was created as a tool to attract business and create jobs in Texas. Applicants must make significant capital investment, provide high-quality jobs, and complete an Enterprise Fund application, approved in Austin.

Texas Emerging Technology Fund
This relatively new fund is targeted to support projects that create high-tech / emerging tech new jobs or lead to medical or scientific breakthroughs.

Texas Capital Fund
The Texas Capital Fund provides economic development grants and loans to 'non-entitlement communities' such as Brady. Use of the funds include road and utility infrastructure, acquisition and construction of real property, and main street public infrastructure improvements.

Industrial Revenue Bond Program
This provides taxable and tax-exempt bond financing for land and depreciable property for industrial or manufacturing projects.

Small Business Development Center
Offered through Angelo State University, the purpose of the SBDC is to assist new entrepreneurs in realizing their business potential and assist existing small business in remaining competitive in our changing global economy. It provides this no cost service through its affiliation with America's most comprehensive small business assistance network in the country.


FEDERAL INCENTIVES

Our helpful staff can also assist you with numerous federal loan and grant programs for small business, that are available for Brady businesses, including:

Small Business Administration (SBA) 504 Loan Program
which offers long-term, fixed rate financing to existing companies with sound business purpose

SBA 7(a) Loan Guaranty Program
which benefits small businesses by helping finance long-term loans through reducing risk taken by the lender. 

USDA Business & Cooperative Programs

increase rural job opportunities, facilitate the development of rural businesses, and improve economic development. Available programs include:

  • Business & Industry Guaranteed Loans
  • Renewable Energy Loans & Grants
  • Rural Business Opportunity Grants
  • Rural business Enterprise Grants
  • Value-Added Producer Grants
  • Intermediary Relending Program
  • Rural Economic Development Loans & Grants
  • Rural Cooperative Development Grants

 USDA Community Development Programs
enhance economic opportunities and quality of life for rural Texans by funding programs that create or improve telecommunications, community facilities, and water and wastewater systems. Available programs include:

  • Water and Wastewater Disposal Direct Loans, Grants and Guaranteed Loans
  • Emergency Community Water Assistance Grants
  • Distance Learning & Telemedicine Loans & Grants
  • Community Facilities Loans, Grants and Guaranteed Loans
  • Solid Waste Management Grants


USDA Housing Programs
ensure rural communities have access to safe, well-built, affordable homes. Funds can be used to build, renovate or repair a home. Available programs include:

  • Rural Housing Guaranteed Loans
  • Rural Housing Direct Loans
  • Housing Repair Loans & Grants
  • Multi-Family Housing Guaranteed Loans