The Brownwood Municipal Development District helps businesses establish or expand in the Brownwood Area with a focus on two primary services: providing low-interest business loans, made through the USDA-Rural Development IRP Program, and selling or leasing available property to businesses that create jobs. BMDD utilizes a full toolbox of options when it comes to helping companies locate in the Brownwood area.
With a full range of both city and state-level incentive options, BMDD can help you find a way to bring your company to Brownwood, Texas. We also offer special programs, like our current building improvement program, which invested in Brownwood commercial buildings.
BIIP serves to revitalize and improve the appearance of Brownwood commercial buildings to positively impact the aesthetics, marketability by providing an incentive of up to $25,000.00 for approved improvements.
The purpose of the Downtown Retail Opportunity Program is to provide an incentive to property owners to encourage renovation and rehabilitation of commercial buildings in Downtown Brownwood that are not currently occupiable for retail use.
Chapter 380 of the Local Government Code authorizes municipalities to offer incentives designed to promote economic development. Specifically, it provides for offering loans and grants of city funds or services at little or no cost to promote state and local economic development and to stimulate business and commercial activity.
The BMDD has a direct incentive program, which may be used to provide cash grants to qualifying projects and companies.
The Brownwood Industrial Foundation administers the USDA Rural Development Intermediary Relending Program (IRP). The purpose of the IRP Program is to increase economic activity and employment in rural communities.
COG administers the USDA Rural Business Enterprise Grant (RBEG) Revolving Loan Fund.
This program offers small loans of $2000 to $15,000 for small business needs. The business must have fewer than 50 employees and less than $1 million in gross revenues.
The United States Department of Agriculture Rural Development Department offers various grants, loans, and other financial assistance for business.
The Product Development and Small Business Incubator Fund (PDSBI) is a revolving loan program financed through original bond issuances. The primary objective of the program is to aid in the development, production and commercialization of new or improved products and to foster and stimulate small business in the State of Texas.
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.
The Texas Enterprise Zone Program (EZP) is a state sales and use tax refund program designed to encourage private investment and job creation in economically distressed areas of the state.
The Work Opportunity Tax Credit (WOTC) is a federal income tax benefit administered by the U.S. Department of Labor (DOL) for employers who hire individuals from specified target populations. WOTC reduces a business’s federal tax liability, serving as an incentive to select job candidates who may be disadvantaged in their efforts to find employment.
The City of Brownwood includes Qualified Opportunity Zone Number 9507. To stimulate private participation in revitalization of economically distressed areas, taxpayers who invest in Qualified Opportunity Zones are eligible to benefit from capital gains tax incentives available exclusively through this new legislation.