The Economic Development Transparency page is provided in an effort to increase transparency in the area of economic development and inform taxpayers about programs and incentives supported by their tax dollars that are designed to attract industry and investment, create jobs and otherwise grow the economy. The City of Carrollton strives to be an open government in all areas and is working to further develop information published for public viewing in the areas of finance, contract and procurement, economic development, public pensions, and debt obligations. For more information on the City's designated Transparency pages, please visit our Transparency page.
For more information on the Texas Comptroller's efforts to encourage transparency among local governments, please visit their webpage at TexasTransparency.org
Economic Development Summary
The City of Carrollton is dedicated to achieving the highest quality of development, infrastructure, and quality of life for its citizens. These objectives are met, in part, by the enhancement and expansion of the City’s economy. Additionally, the competitive nature of other municipalities on the local, state and international levels can necessitate additional inducements to attract investment and business to the community. The City’s “pro-business” philosophy is designed not only to attract high quality companies but to retain them as well. Furthermore, the City works to negotiate “win/win” incentive agreements, fully understanding the need for a fair and reasonable return on investment for our taxpayers on any agreement.
It is the City’s policy to encourage new investment and business attraction through the utilization of tax grants, performance-based job creation grants, and/or other redevelopment grants, as authorized by Chapter 380.001 of the Texas Local Government Code. The City has chosen Chapter 380 as the preferred path for the provision of incentives and does not currently offer tax abatement, as authorized by Chapter 312 of the Texas Tax Code, which may provide a reduction of taxes owed on new added value for a defined period of time.
Tax Grants Provided
In an effort to foster continued new investment and reinvestment in the City’s physical environment and provide a foundation on which businesses may locate and expand their operations, the City may provide a tax grant equal to a portion of the taxes owed on new real and/or business personal property values over a base year value. The actual amount and duration of the tax grant may vary based on a determination by City Council, but projects may be eligible for a grant equal to 100% of real or personal property, for a period of up to ten years.
Of the Active Tax Grants, the 2021 Assessed Value Subject to Tax Grant is $579,772,101.
Figures above are based on annual population estimates as reported by the North Central Texas Council of Governments. Carrollton's 2021 estimated population is 137,650.
A total of $2,952,471 in tax grants were provided to recipients in 2021.
Details pertaining to the City's active grants are provided below. Please click on the Resolution Number to view the action authorizing the incentive and the Company name to view the agreement.
Business Personal Property Grant: City provides grants equal to 75% of the Added Taxable Value each year for 13 years.
|Company||Resolution||Capital Investment & Project Details||Term (Years)||Tax Grant Amount||Fiscal Year (Begin)||Fiscal Year (End)||Total Grant (To Date)||Added Value|
|Lowen Raiford Hospitality
||85% HOT rebate
||4-building development on 54 acre site
||100% real property grant
||Resolution||75,000 sf manufacturing, sales and distribution facility
||50% real and personal property tax grant
|Resolution||13||75% added taxable value||2019||2032||$114,085.60||$13,959,700
|9||90% real property tax grant||2014||2022||$216,878.18||$10,600,124
|Cyrus Networks (CyrusOne)||Resolution||
90% real & personal property tax grant
Job Creation Grants Provided
The attraction of quality employers to the City which positively contribute to the Carrollton economy, is a priority of the City. In order to recruit and retain such desirable employers and make Carrollton a place where companies wish to locate and invest, the City may provide job creation grants based on the number and type of new full-time equivalent positions.
A performance-based job creation grant may be authorized in order to attract and/or retain companies. Those companies hiring and/or relocating employees to Carrollton, which are paid an average annual full-time equivalent salary above the City’s mean annual wage, may be eligible for a Job Creation Grant.
|Company||Resolution||Term (Years)||Incentive Amount||Fiscal Year (Begin)||Fiscal Year (End)||Incentive Amount|
|AmerisoureBergen||Resolution||4||Grant of $1,000 per qualifying job for period 1-3. $350 per qualifying job for period 4-6.||2018||2028||$1,923,200|
Other Chapter 380 Agreements
While the Tax Grant Program is the City’s primary incentive, certain circumstances may necessitate the use of alternative types of financial assistance in order to encourage new investment or re-investment. These alternative programs are reserved for significant investment projects which are deemed to be catalytic and transformative. Details pertaining to these active grants are provided below. Please click on the Resolution Number to view the action authorizing the incentive and the Company name to view the agreement.
|Company||Resolution||Capital Investment & Project Details||Term (Years)||Grant Amount||Fiscal Year (Begin)||Fiscal Year (End)||
|ST Micro (aka Prologis, L.P.)||3731||Demolition of former ST Micro facility and construction of new industrial product||10||10-Year, 100% real property tax rebate, demo grant equal to 50% of remediation & demo costs (max. $750,000) , & 100% reimbursement of bldg. permit fees (max. $300,000)||2015||2032||$750,000 (plus partial bldg. permit fees)||TBD|
Questions? Please Contact Us.