Incentives & Grant Programs
The City of Denison, Denison Development Alliance (DDA), and Denison Development Foundation (DDF) have created initiatives to improve the appearance, design, and safety of buildings in strategically targeted areas of Denison.
The DDA provides grants to improve existing building facades and fire suppression systems and also created a program to support existing businesses striving to meet increased demand for online shopping. The DDF has grant funds available to build a “destination” business in downtown Denison and to improve alley access to existing businesses.
DDA / DDF grants include:
Industrial and commercial incentives are based on the number of quality jobs, payroll, and capital investment.
Cash Grants
Incentives usually take the form of cash grants to the company spread over a two to five-year period, depending on the total amount of the grant. In the past, grants have ranged from $500 to $5,000 per job, depending on the type of job. A company that qualifies for a cash grant package employing 200 people at $5,000 per job would receive a total of $1 million in incentives payable over an agreed-upon term.
Ad Valorem Tax Rebates
The city, county, and college districts have a strong track record of tax abatement or rebate participation on new buildings and equipment. Local Governments can enter into agreements with businesses to rebate local Ad Valorem taxes on real and personal property for up to ten years.
Freeport Exemption
All taxing entities, the City of Denison, Grayson County, Grayson County College, and the Denison Independent School District offer a Freeport inventory tax exemption which exempts certain personal property from property taxes.
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Freeport goods are defined as:
"goods, wares, merchandise, other tangible property...are exempt from ad valorem taxation if:
- The property is acquired in or imported into this State to be forwarded outside this State.
- The property is detained in this State for assembling, storing, manufacturing, processing, or fabrication purposes.
- The property is transported outside this State not later than 175 days after the date the person acquired or imported the property in this State.
Revolving Loan Program
The Denison Community Investment Corporation has one million dollars available that can be loaned to businesses for the acquisition of property or equipment. Rates can be below national prime and terms can be up to ten years.
Skills Development Fund
This state fund provides grants to community and technical colleges to finance customized job training for local businesses.
Industrial Property
The Denison Development Alliance owns and manages two industrial parks. Sites in the park are available for free or below market rates for qualified businesses.
Infrastructure Improvements
Funds are available for the installation or improvement of water and sewer lines and access roads.
Relocation/Moving Expenses
Denison may pay for a portion of moving costs incurred when a manufacturing business relocates or expands to Denison. Funds are also available to established industries that move new equipment to their Denison location.
Matching Façade Grant
The Façade Grant program is a matching (50/50) grant program Denison Development Alliance (DDA) to improve the exterior (façade) appearance of buildings in the downtown perimeter and “gateway” areas. Any existing or new retail, non-profit, or commercial building/business owner within the qualifying area is eligible to apply for the matching grant funds.
