The Research Valley offers an aggressive business incentive program to attract qualified new employers and to encourage expansion of existing employers. Eligible projects must sell products or services outside of the region and meet certain job creation, payroll an capital investment requirements.
Incentives vary between projects. The Partnership serves as the primary point of contact for eligible projects. Please contact us for assistance or to find out if your project may be eligible.
Local Business Incentives
Property Tax Abatement Program
Brazos County and the Cities of Bryan and College Station offer property tax abatements on a portion of the value of real and/or tangible personal property for a period of up to 10 years. The Partnership facilitates this incentive offering on behalf of the project with the appropriate taxing jurisdictions.
Chapter 380 and 381 Agreements
Chapter 380 of the Local Government Code provides legislative authority to the Cities of Bryan and College Station for property and sales tax rebates, grants or loans of city funds or services to promote economic development. Chapter 381 Agreements are utilized by Brazos County, Texas for the same purpose. Chapter 380 and 381 agreements can be used in tandem for the same project. The Partnership facilitates this incentive offering on behalf of the project with the appropriate taxing jurisdictions.
Fast Track Permitting
The Partnership, on behalf of Brazos County and the Cities of Bryan and College Station, is committed to providing your project with a business-friendly, solutions-oriented, customer focused, and expedited planning and permitting process. Brazos County and the Cities of Bryan and College Station, recognize your need to move quickly to complete and can effectively cut through “red tape” without cutting corners. Your project will benefit from our Express Permits Program to expedite project affairs; Program benefits include:
- A single point of contact;
- A maximum of 20 days to review project;
- Concurrent reviews by all involved government and business service agencies;
- Timeline developed and agreed upon by both government staff and the real estate developer;
- If necessary, permits will be provided on a phased approach;
- Special meetings of local government agencies, Planning and Zoning Commission, or any other applicable board, will be called if necessary.
Brazos County and the cities of Bryan and College Station offer the Freeport exemption for various types of goods that are detained in Texas for a short period of time. Freeport property includes goods, wares, merchandise, ores, and certain aircraft and aircraft parts. Freeport qualifies for an exemption from ad valorem taxation only if it has been detained in the state for 175 days or less for the purpose of assembly, storage, manufacturing, processing, or fabricating.
Chapter 313 Agreement
A Chapter 313 agreement provides for an appraised value limitation by the Bryan Independent School District or College Station Independent School District with the taxpayer (project). In order for the project to be eligible for a value limitation, new property and new jobs must be created. For more information on Chapter 313, click here.
Foreign Trade Zone 84 - Site 26
Texas Triangle Park - Inland Port is designated through Port Houston as Foreign Trade Zone (FTZ) 84 - Site 26. Goods and unfinished products shipped directly to a FTZ are exempt from duty payments.
The Partnership may facilitate cash grants to companies creating new jobs and making new investments in Brazos County, Texas. This incentive is utilized on a case-by-case basis for deal-closing.
Land Grant of Reduced Price
Both the cities of Bryan and College Station own business park property that can be granted free of charge or sold at a reduced price to economic development projects. These incentives are determined on a case-by-case basis dependent upon economic impact.
State Business Incentives
Texas Enterprise Fund (The Deal Closer)
The Texas Enterprise Fund (TEF) offers a special incentive to choose Texas. The TEF might help you make your decision. The fund is a cash grant used as a financial incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out-of-state option. For more information, click here.
The Texas Enterprise Zone Program
This economic development tool allows local communities to partner with the state of Texas to encourage job creation and capital investment in economically distressed areas. Local communities can nominate a new or expanding business as an "enterprise project." Approved projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund depends on the capital investment and jobs created at the qualified business site. For more information click here.
Texas Skills Development Fund
The Skills Development Fund is Texas' premier job-training program providing local customized training opportunities for Texas businesses and workers to increase skill levels and wages of the Texas workforce. The Texas Workforce Commission administers funding for the program. Success is achieved through collaboration among businesses, public community and technical colleges, Workforce Development Boards and economic development partners. For more information, click here.