STRATEGIC ADVANTAGES

In addition to Texas not having a personal income tax, state property or unitary tax, Amarillo has a number of tax benefits, including:

• A “Freeport” designation, which makes businesses exempt from inventory property taxes of goods exported

Sales Tax

• The state sales tax rate is 6.25%, with Amarillo assessing an additional 2%. This tax is levied on the sale, rental and use of most tangible property, labor and selected services.
• Exemptions in the sales tax statutes include:
• Machinery and equipment used directly in the manufacturing process or for pollution control
• Items that become a component part of a manufactured item are consumed in the manufacturing process or delivered out of state

Corporate Franchise Tax

• The franchise tax rate is 0.95% for most entities.
• Qualified wholesalers and retailers pay 0.475% and entities with $10 million or less in total revenue (annualized per 12-month period on which a report is to be based) pay 0.575%.

With ample supply comes low rates. Amarillo’s electricity, natural gas and water rates are low, especially for natural gas, which are among the lowest in the nation.

Electricity

• Electricity costs 6.24 cents per kilowatt-hour versus 10.08 cents nationally in 2013.
• Companies can install their own turbines directly on their property to power their operations.
  
• Utility services are provided by Xcel Energy.

Natural Gas

• Energy services are provided by Atmos Energy.
• The average monthly Atmos Energy gas bill for commercial service is $132.29 (assuming usage of 34.7 MCF).
• The average monthly gas bill for industrial service is $1,961.01, based on gas usage of 557.4 MCF.

Water

• There has been no water rationing in Amarillo since 1952, which is assured for the future as well.
• Amarillo secured a supply of high-quality underground water sufficient to meet the city's needs for at least 200 years.

As the largest city between Dallas and Denver, Albuquerque and Oklahoma City, Amarillo has excellent connections. And beyond our famed Route 66, we are conveniently connected to the region and the country via rail, airports and highways. Our central position and access to a multitude of transportation options make it ideally suited for distribution and logistics operations. National companies, such as Ben E. Keith, Affiliated Foods, Inc., and AmeriCold, have built successful operations in Amarillo.

By Rail

• Amarillo's prime location situates us at one of the central points for rail transportation for the busy wind corridor.
• The rail line operates a large intermodal facility in Amarillo that handles about 30,000 containers and trailers each year.
• The Union Pacific-Southern Pacific railroad has rights to use BNSF tracks in the Amarillo area.

By Port

The mainlines of the Union-Southern Pacific railroad directly connect Amarillo to three ports:

• Houston – 500 miles
• Galveston – 650 miles
• San Diego – 1,000 miles

By Air

• Rick Husband International Airport was named "Airport of the Year" by the Transportation Security Administration for exhibiting exceptional customer service, all while maintaining the highest level of airport security.

• The airport’s runway is one of the longest in the country and can accommodate a space shuttle landing.

CenterPort Business Park

Amarillo’s CenterPort Business Park is a 440-acre site that employs approximately 850 people. Well-suited for manufacturing and distribution, some of its current tenants include: Gestamp Renewables, Ben E. Keith Foods, Pacific Cheese, and Alstom Power.

For our 26-county labor area, Amarillo is the hub for employment opportunities and education. Our labor force is young, educated, non-unionized, and also appreciative of Amarillo’s quality of life.

• Between 2000 and 2011, the labor force grew by 15.6%.
• Our labor participation rate exceeds national and state averages, with 80% of the occupations listed in the employer survey either easily available for hiring, or can be easily recruited from the local labor force with modest effort.
• The AEDC creates and supports ongoing training programs with local organizations, such as Amarillo College to produce specialized training programs to meet the specific needs of local employers like Bell Helicopter and Gestamp.
  
  

Learn More About Amarillo's Workforce

From expanding facilities or your workforce to retooling your equipment to training your staff, our Financial Services division taps into a number of programs to help drive your business forward. Programs address three primary areas:

1. Small business support
2. Expansion
3. Corporate relocation

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 repay 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