The gist
According to city documents, Chapter 380 of the local government code allows municipalities to offer incentives, such as loans and grants from city funds at little or no cost to promote economic development and stimulate business and economic growth. The ordinance updated the EDIF guidelines, including updating wage requirements and the addition of language regarding hybrid and remote work.
Additional revisions include:
- Projects that meet the Equity Atlas combined score of 7 or higher may also be offered additional support for project-related costs
- Require contractors and recipients to submit their safety program/plan information to include heat-related safety and OSHA-10 training or an equivalent as well as their experience modification rating
- Ensure recipients demonstrate a good faith effort to hire 30% of all employees residing within the city, extraterritorial jurisdiction or Bexar County
- Require recipients to develop a custom Ready to Work plan that includes interviewing and hiring qualified candidates
“If adjustments need to be made, then we can be flexible,” Pelaez said.
According to city documents, targeted industries include agribusiness; aerospace; creative services; environmental technology, including green and clean technology; finance; information technology and cyber security; logistics and distribution; oil and gas; telecommunications; manufacturing and biotechnology; and health care.
Project categories eligible for EDIF assistance include:
- Attracting companies who plan to create jobs and investment in targeted industries, including corporate headquarters
- The retention and expansion of local companies that are considering relocating and/or expanding in communities outside San Antonio
- Promote development and investment at and around active and former military bases and in distressed areas, such as the inner city reinvestment/infill police area, state enterprise zone census tract areas and the city’s designated reinvestment plan areas
- Promote development at and around higher educational institutions and other nongovernmental institutions, such as the Texas Research and Technology Foundation, which help create jobs and support growth in targeted industries
Eligible projects must meet the minimum capital investment and a minimum job creation requirements to qualify for a tax rebate.