Local Incentives l Greater Waco Chamber
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Local Incentives

Economic development incentives are offered by federal, state and local governments, as well as regional economic development organizations. Below is a list of local incentives available in the greater Waco area.

Waco-McLennan County Economic Development Corporation

Cash grant program for new job creation and capital investment in support of existing industry expansion and new business attraction.

Waco Industrial Foundation

Non-profit real estate development foundation that works with economic development partners for qualified project. Purchases land and develops infrastructure in industrial areas. Click here for more information.

Tax Abatements from City, County, Community College

Real and/or personal property tax abatements for value-added investment and job creation in new facilities and business expansion.

Business Grant Program from City and County

Grant program for qualified projects based on location, capital investment and job creation. Program provides grants for value-added real and/or personal property investments in an amount equal to all or a portion of the increased taxable value.

Freeport Tax Exemption from City, County, School Districts

Inventory tax exemption available to companies for product that leave the state of Texas within 175 days of manufacture or entry into Texas. McLennan County, the cities of Waco, McGregor, Beverly Hills and Bellmead, and five area school districts (Bosqueville, LaVega, McGregor, Moody and Waco) offer tax exemption to companies within these jurisdictions.
Aircraft components are eligible for 670 days from exemption for qualifying components that leave the state.

Regional Economic Development Corporations

Regional economic development corporations and municipalities outside of Waco work in partnership with the Greater Waco Chamber to support business growth within their jurisdictions. EDC’s can provide incentives in the form of grants, loans and development assistance.

Building Construction Fee Waiver

Waiver of certain construction/occupancy/renovation fees associated with the Brazos River Corridor and the Public Improvement District. In other municipalities, the waiver is reviewed on a case-by-case basis.

Historic Preservation Tax Credit

Municipal tax credit on locally designated or recognized historic property that undergoes rehabilitation.

Owner-Occupied Renovations and Development Tax Abatement

Encourages redevelopment/renovation of substandard structures that create mixed use facilities associated with the Brazos River Corridor and the Public Improvement District.

Tax Exempt Bond Financing

Program offers businesses the opportunity to apply for facility bonds. Bonds are used to finance property development at lower interest rates than conventional financing.

Tax Increment Financing

Three designated incentive zones within Waco’s central city for revitalization and development projects.
For further information, contact the Economic Development Division.
(254) 757-5635 • 101 South Third Street, Waco, TX 76703 • Kris Collins

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