The Wylie Economic Development Corporation, City of Wylie and state of Texas have a wide range of tools available to help expanding companies locate and grow in our wonderful community. While most incentive packages are funded at the local level, the WEDC will assist you with any applicable state or national incentive programs which may be available.
The WEDC is funded by a ½-cent sales tax imposed on the purchase of local goods and certain services. Those monies are earmarked for funding all WEDC operations including incentive programs. All incentive packages are developed by WEDC staff and presented to the WEDC Board of Directors for their consideration. With project criteria requirements evaluated on a case-by-case basis, key elements typically evaluated include the amount of added taxable value for real and personal property improvements and number of new/retained jobs. While examples of existing funding mechanisms are listed below, the WEDC stands ready to identify your specific needs and tailor an incentive program to meet those needs. Such incentive programs include:
Chapter 380 of the Texas Local Government Code allows Wylie to offer a range of incentives for economic development, including the ability to rebate some of the city's portion of the 1.0% sales and use tax collected from business entities located in the jurisdiction.
Qualifying businesses considering locate in Wylie have the opportunity to apply for a property tax abatement on new value created as a result of the project.
Established by the 74th Legislature in 1995, The Skills Development Fund was designed to better utilize the public community and technical college system in Texas as well as other training organizations and have them partner with businesses throughout the state (with priority on small businesses) to train workers to meet the labor needs of employers and the regional labor market.
The Texas Enterprise Fund (TEF) awards “deal-closing” grants to companies considering a new project for which one Texas site is competing with other out-of-state sites. The fund serves as a financial incentive for those companies whose projects would contribute significant capital investment and new employment opportunities to the state’s economy.