FY2016-17 Budget Final

DeSoto Incentives Economic development incentives are used to encourage industrial and commercial retail/office business growth and development in DeSoto. Tax Abatement Up to 90% Tax abatement may be available for 10 years on new real property improvements, machinery, and/or equip- ment for qualifying businesses. Minimum requirements are: An investment of $1.0 million for new construction or development, or an investment of $1.0 million for expansion of an existing facility or investment in machinery and/or equipment and at least 25 new jobs. Application for abatement is required prior to the commencement of construction or purchase of business personal property. Triple Freeport Equivalency Under Section 380 of the Local Texas Government Code, the City may grant cash rebates to a business to equal up to 100% of the value of the taxed freeport inventory. Inventory must first qualify for freeport through the Dallas Central Appraisal District and the Dallas ISD. Infrastructure Participation The DeSoto EDC will consider offering full or partial financial assistance to build and/or improve roads, install utilities, and upgrade infrastructure to encourage business growth and development in DeSoto. Sales Tax Rebates The City of DeSoto will consider refunding a portion of the sales tax applicable to sales made by desired retail establish- ments in designated neighborhood empowerment zones. Economic Development Cash Grants Infrastructure grants may be available to new, expanding, and relocating companies which are planning to make a new investment in DeSoto. Grants are screened by the incentive application submitted and a return on investment analysis. These grants may be used to renovate existing facilities, pay any associated construction fees, buy down the price of land, prepare the site, conduct engineering studies, or pay for any other activity necessary for a new, expanding, or relocating business.

DeSoto Advantages DeSoto offers a competitive advantage for new, relocating, and expanding businesses. The combination of quality of life amenities and economic benefits produces an environment conducive to personal fulfillment and business prosperity. Developed Industrial Park More than 400 acres of land are available for industrial and commercial development within the DeSoto Eagle Industrial and Business Park. Hillwood’s Crossroads Trade Center in the Industrial Park offers 1.2 million square feet of build-to- suit distribution or light industrial space for lease at Centre Commercial and industrial sites are 'shovel-ready' for about $1.00 - $1.75 per sf. Retail and office sites along Interstate 35E are $8 - $12.00 per sf, and similar sites with frontage along major thoroughfares within the city are $10 - $14.00 per sf. Convenient Interstate and Highway Access DeSoto has 4 miles of frontage on Interstate 35E (NAFTA) and is less than 1 mile south of Interstate 20 and 1 mile east of US Hwy 67. The city is also 2 miles west of Interstate 45 which provides access to the Port of Houston. Texas FM 1528 (Belt Line Road) runs east & west through DeSoto, connecting U.S. Hwy 67 to IH-35E. DeSoto also has quick access to U.S. Hwy 175 and IH-30 via connections to IH-20 and IH-635. The Dallas Central Business District can be reached in 15 minutes and DFW International Airport is only 35 minutes away. Dynamic and Growing Local Economy DeSoto’s population - per the 2010 U.S Census - is 49,047, a 26% growth rate since 2000, with an increase of 24% in the number of households during that same time. The number of building permits issued has steadily risen, and new construction totaled over $82 million for FY 2014-2015. Plentiful Labor Supply The Dallas/Fort Worth Metroplex (MSA) employs a labor force of more than 3,577,800 workers. DeSoto draws from the skilled labor force, and over thirty five universities and community colleges in the Dallas/Fort Worth Metroplex. Park Blvd and IH-35E. Low Cost Land Prices

Contact

DeSoto Economic Development Corporation

Phone:

972-230-9611 972-230-9670 www.dedc.org

211 E. Pleasant Run Road DeSoto, TX 75115

Fax:

Website:

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