About the Port Arthur Economic Development Corporation (PAEDC)
In 1989, Port Arthur became one of the first cities in Texas to implement a 1/2 cent sales tax dedicated to supporting economic development. The Port Arthur Economic Development Corporation (PAEDC) is responsible for managing these sales tax revenues and is governed by a seven-member Board of Directors.
Customized Incentive Packages
At PAEDC, we tailor each economic development incentive package to provide the best possible solution for your company’s relocation or expansion needs.
Relocation and Expansion Incentives
Under the Texas Local Government Code, which dictates how economic development corporations operate, PAEDC must be involved in the decision-making process of any company considering relocation to Port Arthur in order for that company to qualify for a relocation incentive. For existing businesses in Port Arthur looking to expand, PAEDC offers incentives specifically targeted at infrastructure costs.
Performance-Based Incentives
All PAEDC incentives are performance-based. This means businesses will receive reimbursements only after meeting the compliance obligations outlined in their performance agreement with PAEDC. This approach ensures the proper use of public funds, as incentives are not distributed upfront.
Incentive Categories
The categories of incentives we offer are detailed below:
Job Creation Incentives
Can range from $1,000 to more than $5,000 per full-time job dependent on salary and non-mandatory employee benefits.
Capital Investment Incentives
Up to 20% of capital investment costs (in lieu of tax abatement).
Assistance with land purchase
30% or more participation in land costs.
Job Training Grants
$500 or more per job upon completion of training and employee probation period.
Relocation Grants
15% or more of relocation costs for equipment, key personnel, etc.
Enterprise Zones:
The Texas Enterprise Zone Program is designed to stimulate job creation and capital investment in economically distressed areas. This program offers communities a valuable economic development tool, enabling them to provide state and local incentives, as well as program prioritization, to businesses that are new to or expanding within these designated zones.
Training:
The Skills Development Fund helps businesses and labor unions by designing, funding, and implementing customized job training programs in partnership with public community and technical colleges. These programs are tailored to support both new and existing jobs within local businesses.
