A Broad Range of Incentives for Your Business
When it comes to incentives in Alamo, the Economic Development Corporation’s role is to encourage and support comprehensive approaches that emphasize local initiatives, private sector opportunities and self-sufficiency. Our incentive programs are designed to serve as a catalyst to spur private sector investment and job creation that ultimately support sustainable economic development strategies that leverage investments from other public and private sources.
Some of the accessible programs we offer to increase private enterprise and individual opportunity in our community include:
- Grants to New and Existing Businesses – These grants are based on available resources and only for offsite improvements where the resulting asset falls within the public domain, such as, but not limited to: water distribution, sewer collection, drainage, public thoroughfares, medians, street lighting, solid waste collection, signage, etc.
- USDA-Rural Development: Intermediary Relending Program (IRP) – This program is another resource for rural communities. EDCs can borrow money from the USDA at 1% for a maximum term of 30 years, and acts as intermediary-relending money to ultimate recipients.
- USDA-Rural Development: Rural Business Enterprise Grant (RBEG) – The RBEG program provides grants to EDCs for rural projects that finance and facilitate development of small and emerging rural businesses, and help fund distance learning networks and employment related adult education programs.
- RSTEC-Rio South Texas Economic Council-Regional Member – Approach to economic development.
- Local Business Retention Program – We fulfill our commitment to business retention by supporting local business organizations like the chamber of commerce and promotional events like community festivals. We also assist existing businesses on a case-by-case basis depending on the number of jobs created or saved, the investment or equity contribution of the business and the long-term self-sustainability of the project; basically the economic impact of the project and the project’s fit for assistance to local, state and federal programs.
- Tax Increment Reinvestment Zone – Tax increment financing for projects within the identified area.
- City Business Analysis – Market Analysis, Leakage Study and UTSA Downtown Revitalization study for Alamo.
Our Local Toolkit consists of the following:
- 380 Agreements
- Tax Abatement
- Sales Tax Rebate
- Fast Track Permitting
- Performance-based grants/low interest loans
- Cost Share Programs (50/50 façade improvement grants for retail and/or historic districts)
Make Your Business Expansion or Relocation a Reality in Alamo
For information about the incentives available for your business, or to find the incentive program that best suits your needs, contact the Alamo Economic Development Corporation at 956.787.6622.