Many states across America offer competitive grant and incentive programs to attract new business to their jurisdiction. The Texas Enterprise Fund (TEF) is an example of such a program.
What Is the TEF?
The TEF is described as a “deal-closer” grants program that aims to attracts new projects to Texas. These projects bring significant capital investment and new employment opportunities to the state.
Which Organizations Are Eligible?
Companies planning to open or expand a facility, create 75 full-time urban jobs or 25 rural jobs, and make significant capital investments are eligible. The company should be considering a single site in Texas and at least one other out-of-state option for the project.
How Much Funding Is Available?
Funding varies depending on the types of jobs created, the timeline, the size of the investment, and other factors. Grants under the program have reached as high as $50 million, although grants announced in 2019 ranged between $525k and $24 million.
What Is the Deadline?
Applications are accepted on a rolling basis.
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