This information is provided to increase transparency related to economic development and to inform taxpayers about programs and incentives supported by their tax dollars. The City of El Campo and the City Development Corporation promotes, encourages and enhances the creation of jobs and capital investments in El Campo, Texas. It is our goal to help diversify the tax base by fostering an entrepreneurial environment to help create opportunities, retain current businesses, attract new industries to expand the local business base, and increase the amount of higher wage jobs within our local economy.
In order to attain these goals, the City enters into economic development agreements with desired businesses as authorized by Chapter 380 of the Texas Local Government Code. These businesses may be manufacturing, office, retail, commercial or mixed-use projects. The agreements allow the City to refund a portion of property taxes and sales taxes paid, issue incentive payments, and/or reduce fees. The offer of incentives is tied to an analysis of the impact on community services and to the goals of the community as established by the El Campo City Council. The City Council has final authority on the implementation of City business incentives.
The City of El Campo does not currently have any active or pending tax abatement incentives as authorized by Chapter 312 of the Texas Tax Code. This type of agreement may provide an actual reduction of taxes owed on new value added. The City has not issued any tax abatements in the most recent fiscal year (10/01/2017-09/30/2018), as such there were no tax abated in the last fiscal year. The City El Campo also has not received any capital investment for agreements up to date.
Chapter 380 Agreements
Government Accounting Standards Board - Statement No. 77
This statement provides guidance regarding the disclosure of taxes foregone in government financial statements. See summary version for a quick overview of the statement.
Texas Comptroller of Public Accounts Economic Development Corporation Search Tool
This search tool allows users to view CDC financial reports submitted to the State. The City of El Campo has a Type A EDC known as the City Development Corporation.
City of El Campo Economic Development Policy