AN ECONOMY THAT ’ S GOOD FOR BUSINESS
INCENTIVES
The City of Arlington offers a variety of incentives through the Arlington Economic Development Corporation and other funding resources designed to create jobs , new capital investment and spur redevelopment within the community . Incentive offerings are provided and negotiated on a caseby-case basis and ultimately approved by the Arlington City Council .
Tax Abatements : Tax reductions for eligible facilities on all or a portion of the increased taxable value of real and / or business personal property over the base year value . Projects may be eligible for up to a 90 % abatement on real or personal property , but not both unless negotiated , for a period of 10 years .
Chapter 380 Grants : The Texas Chapter 380 Local Government Code authorizes municipalities to offer grants of City funds to stimulate business activity based on jobs created , capital investment and other approved performance metrics listed in the City ’ s Chapter 380 policy .
Arlington Economic Development Corporation : A Type B sales tax fund managed by a seven member board to offer grants and loans for a variety of projects including the acquisition of land , machinery and equipment , construction costs and other items listed in the AEDC policy .
Tax Increment Reinvestment Zone ( TIRZ ): Also known as Tax Increment Financing ( TIF ), a TIRZ is a tool that the City can use to finance needed improvements for infrastructure and buildings within a designated area . Arlington has four active TIRZ districts , each with nine board members responsible for reviewing funding requests .
Opportunity Zone ( OZ ): An investment tool established by Congress in 2017 to encourage long-term investments in low-income urban and rural communities nationwide . OZ ’ s provide a tax incentive for investors to reinvest their unrealized capital gains into dedicated Opportunity Funds . Arlington has one Opportunity Zone .
Freeport Exemption : Property tax exemption offered by the City , school district and Tarrant County . It applies to various types of property detained in Texas for no more than 175 days to be transported out-of-state . Goods must be in Texas for assembling , storing , manufacturing , repair , maintenance , processing or fabricating purposes .
Skills Development Fund ( SDF ): The SDF is Texas ’ premier upskilling program . SDF grants provide site-specific , customized training opportunities for Texas businesses and their employees to increase skill levels and wages of the Texas workforce .
Texas Enterprise Fund : A state level cash grant used as a financial incentive tool for projects offering significant projected job creation and capital investment where a single Texas site is competing with another viable out-of-state option for relocation .
30
ARLINGTON , TEXAS COMMUNITY PROFILE