Economic development incentives are offered by federal, state and local governments, as well as regional economic development organizations. Below is a list of federal incentives available in the greater Waco area.
Community Development Financial Institutions Fund
Bond guarantee program for CDFI that make investments for eligible community or economic development purposes.
Federal Enterprise Community Bond Issuance
Opportunity to participate in the Bond Issuance Program for businesses that assist in expanding the local job base.
Federal Enterprise Community Revolving Loan Fund
Administered by the Heart of Texas (HOT) Business Resource Center, the fund is a financial tool to support start-up businesses or expansions.
NAFTA Impact Zones
Percentage of sales tax refunds for up to 10 years for businesses located in the city-designated NAFTA impact zones.
U.S. Foreign Trade Zone No. 246
Benefit provides tariff exemption on goods that are imported, manufactured and then exported. If goods are distributed in the U.S., then duties are required but only when goods leave the FTZ.
Existing Locations: Waco Regional Airport, Waco International Airpark (TSTC Airport), Texas Central Industrial District, Texas Central Park and Waco International Aviation Park. Other areas can be incorporated via subzone designation or minor boundary modification.
For further information, contact the Economic Development division.
(254) 757-5635 • 101 South Third Street, Waco, TX 76703 • Kris Collins