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From expanding facilities or your workforce to retooling your equipment to training your staff, our Financial Service
TPRDC November 2018 Interest Rate
division taps
into a number of programs to help drive your business forward.

Small Business Programs

  • EnterPrize Challenge – preparing smaller companies for success with insights and funding up to $500,000 each year
  • Small Business Interest Rebates – help in repaying bank loans
  • Small Business Administration 504 Loans – long-term, below-market financing to build, buy or improve facilities
  • Community Development Micro-Loans – up to $35,000 in loans for low-to-moderate Amarillo entrepreneurs


Tax Abatement & Credits

  • Abatement – specialized financial tools for manufacturing businesses looking to lessen your tax liabilities
  • New Market Tax Credit – incentives for investors interested in supporting opportunities in low-income communities


Workforce Retention, Expansion & Training

  • Job Creation Incentive Grant – financial incentives to create full-time jobs
  • Tax Enterprise Zone – access to tax refunds based on creating and retaining jobs
  • Skills Training – funding to help expand the skills of your current or potential workforce


International Market Programs

  • Foreign Trade Zone 252 – financial benefits and streamlined logistics for companies importing/exporting internationally

THE BENEFITS OF BUSINESS RETENTION AND EXPANSION PROGRAMS

THE PRIMARY SOURCES OF JOB GROWTH EXIST IN EVERY COMMUNITY:

80%

Existing business expansions account for 80%

11%

Incoming new businesses account for 11%

9%

And start-up operations account for 9%

WHY WE SHOULD SUPPORT EXISTING BUSINESSES:

  • Existing businesses provide even more return on investment in smaller, rural market areas where entrepreneurial and recruitment opportunities are limited.
  • While customer attrition is a fact of life in both the private and public sectors, it's 10 times more cost-effective to work with existing customers than to continually cultivate new ones.
  • Business retention and expansion provide the customer -- the existing private sector firm in your market area -- with a seamless customer contact and service experience.
  • Less than 10% of business closures result from business failures. More than 90% are caused by work movement through mergers, consolidation, restructuring and deliberate decisions to relocate businesses.

CONTACT THE AEDC