A more rewarding location for job creators and investors.
The pro-business environment of Rio South Texas nurtures enterprise at virtually every level—national, state and local—on both sides of the Rio Grande River, a depth of resources that can provide critical impact for startups, relocations and expansions. The region’s dual-nation flexibility and the option of twin plants can also open greater incentive opportunities. Your enterprise is also assured of COSTEP assistance in connecting you with the necessary resources to support your investment to the fullest.
On the American side, that means the strength of Texas is behind you. With a GDP of $1.9 trillion, Texas is the 9th largest economy in the world, and over the past decade the state has increased its might, leading the U.S. in growth through enterprise-friendly policies such as no personal or corporate state income tax. Today Texas business enjoys one of the lowest tax burdens in the U.S.
Texas also provides a strategic mix of financial assistance. For qualified projects, the aid is supplied through three basic mechanisms:
- supports both new and expanding operations, and includes the Capital Access Program, a collaborative effort between the State of Texas and non-profit lenders to help small to medium size businesses (under 499 employees) gain access to financing, and the Texas Industrial Revenue Bond (IRB) program, providing bond financing for private enterprise through Industrial Development Corporations.
- Grants range from the Skills Development Fund, which underwrites custom workforce training, to the Texas Enterprise Fund, which is leveraged as a “deal closer” for large projects.
- Incentives may include (but are not limited to):
- Ad valorem/property tax exemption
- Franchise tax deduction
- Renewable energy incentives
Also, located throughout the region are state-designated Enterprise Zones where businesses may be eligible for state sales and use tax refunds; and federally designated Opportunity Zones which offer tax abatements for investment in Qualified Opportunity Funds, which in turn invest in Opportunity Zone assets.
On the Mexican side of the Rio Grande River, Tamaulipas also offers generous incentives including:
- Payroll tax exemptions
- Property tax exemptions
- Assistance in licensing and construction permits
- Support in accessing federal financial aid and connections to state technological universities for custom training
Many local municipalities offer incentives such as freeport tax exemptions, tax abatements and tax increment reinvestment zones. And your operation can continually rely on dedicated, effective assistance from economic and governmental allies with a personal commitment to your success.
At every level, Rio South Texas makes investment and job creation more rewarding. We make good things happen for business.