The Brownwood Municipal Development District is the economic development arm of the City of Brownwood, which collects a 1/2 cent of sales tax from taxable sales for the purpose of funding economic development activities.
The BMDD offers direct incentive for qualifying projects. If the company is eligible, the direct incentives are based on a number of factors including total job creation and wages, capital investment, the financial strength of the applicant, the applicant's business history, and an economic impact analysis.
Direct incentives require a performance agreement with the company and are based on the assumptions used to determine the incentive. The Brownwood Municipal Development District administers the direct incentives and applications are processed directly through the Economic Development staff. These direct incentives can sometimes be used in conjunction with the City of Brownwood Chapter 380 agreements.