– Business Benefits –
IncentivesBalanced Growth
The BKCEDC can assist with exploring incentive options to grow the economy, revitalize targeted areas of the community and promote strong, balanced growth.
Local incentives
For qualified local projects, local incentives are available. Let the BKCEDC help you navigate this process.
STATE OF TEXAS INCENTIVES
Texas Enterprise Fund
The Texas Enterprise Fund is a “deal-closing” incentive that provides performance-based cash grants to companies choosing between a Texas location and out-of-state alternatives. It supports projects that bring substantial job creation and capital investment to the state, with funds awarded only after companies meet their job and wage commitments. Designed to help Texas win competitive, high-impact projects, the TEF strengthens the state’s economic growth and global competitiveness.
Event Trust Funds Program
The Event Trust Funds Program helps Texas communities offset the costs of hosting major events by using the additional state and local tax revenue generated by those events to reimburse eligible expenses. Through three separate funds, the program supports events that are selected through competitive, multi-state bidding processes and bring measurable economic impact to Texas. By reinvesting event-generated tax gains, the program enables cities, counties, and local organizing committees to attract and host high-value events without bearing the full financial burden.
Governor’s University Research Initiative
The Governor’s University Research Initiative (GURI) provides matching, cost-reimbursement grants to help Texas public universities recruit world-renowned, distinguished researchers in science, engineering, technology, mathematics, and medicine. By supporting the recruitment of top-tier talent—such as Nobel Laureates and National Academy members—GURI strengthens the research capacity and prestige of Texas institutions. The program ultimately boosts innovation, competitiveness, and long-term economic development across the state.
Texas Enterprise Zone Program
The Texas Enterprise Zone Program is a state incentive that provides sales and use tax refunds to companies that invest in communities and create or retain local jobs, especially for economically disadvantaged individuals, veterans, or residents of enterprise zones. Cities and counties nominate eligible projects, and approved businesses can earn substantial tax refunds based on their level of capital investment and job creation. This program helps drive economic growth in areas that need it most.
Product Development and Small Business Incubator Fund
The Product Development & Small Business Incubator Fund provides long-term, asset-backed loans to Texas businesses that are near-bankable but unable to secure full financing through traditional lenders. The program supports companies developing new or improved products, as well as small businesses and incubators that strengthen the state’s entrepreneurial ecosystem. By offering flexible loan structures with competitive rates, the fund helps drive innovation, commercialization, and small-business growth across Texas.
Skills Development Fund
The Skills Development Fund provides grants to help Texas businesses train new employees or upgrade the skills of their existing workforce through partnerships with community colleges, technical colleges, TEEX, or workforce boards. By funding customized, business-driven training programs, the fund helps raise skill levels, increase wages, and strengthen the state’s talent pipeline. Administered by the Texas Workforce Commission, the program supports employers across Texas with flexible, high-impact workforce training solutions.
Self-Sufficiency Fund
The Self-Sufficiency Fund is a job-training program that is specifically designed for individuals that receive Temporary Assistance for Needy Families (TANF). The program links the business community with local educational institutions and is administered by the Texas Workforce Commission. The goal of the Fund is to assist TANF recipients
The Fund makes grants available to eligible public colleges or to eligible private, nonprofit organizations to provide customized job training and training support services for specific employers. A joint application from the employer and the eligible public college and/or eligible private, nonprofit organization is required to be submitted to the Local Workforce Development Board for review and comment prior to approval.
