Taxes, Incentives & Financing

Thanks to a cutting-edge upgrade at Wharton-based Exelon Generation fossil plant, 1,000 extra megawatts of clean, affordable electrical capacity is powering Wharton productivity. Thanks to our region’s new off-channel reservoir, an annual additional 117 million gallons of fresh water will generate greater comfort and enhanced prosperity. 

In fact, good things are flowing in Wharton, and that includes the free flow of rich development incentives, adding speed to industrial startups and momentum to business and industrial success. Job creators are richly rewarded in Wharton.

Some of our most popular incentives include:

Texas Enterprise Zone

With a maximum potential refund reaching into the millions, qualified employers receive a refund up to $2500 in sales and use tax for each job created.

New Market Tax Credit

Making a qualified investment through a Wharton Community Development Entity can yield lucrative federal tax credits.

Federal Opportunity Zone

The Opportunity Zones program optimizes flexibility, allowing different types of investments that could benefit multiple parts of the community development ecosystem. For example, developers, service providers, and other small businesses critical to affordable housing delivery could receive new equity investments. Similarly, impact-motivated Opportunity Funds could help fill a capital gap that has been a barrier to scaling mixed-income and workforce housing.​

Freeport Exemption

Reduce costs and enjoy added flexibility in storing and moving goods with this valuable ad valorem tax abatement.

Property Tax Exemptions on Freeport Inventory

Wharton County offers an exemption from ad valorem taxes for manufacturing inventories that meet the definition of freeport. All inventories that remain in the facility for a period of no more than 175 days and are exported outside of the state of Texas within that time frame will be classified as freeport, and are therefore exempt from ad valorem taxation.

Expedited Plan Review & Permitting

In order to ensure that projects are allowed to begin business operations on a timely basis, the City of Wharton, on a case-by-case basis, may provide all plan reviews and permitting on an expedited basis, whether the company chooses to retrofit an existing building or engage in new construction.

State, county and city grants

Wharton has the means and the mission to tailor financial assistance to your specific operational needs.

Tax abatement, including Chapter 313 tax abatements

Wharton leverages Texas 313 abatement laws so that local industry enjoys the most lucrative abatement packages. 313 allows qualified projects to have their school tax abated.

Chapter 380/381 Financing

Chapter 380/381 of the Local Government Code provides legislative authority for Texas municipalities to provide a grant or a loan of city funds or services in order to promote economic development. Cities/Counties have utilized the provisions of this law to provide a wide array of incentives that have drawn businesses and industries to locales throughout Texas. This statute basically provides for loans and grants of city/county funds, as well as the use of city staff, city facilities or city services at minimal or no charge. Whether a city provides any such incentive is completely discretionary. A city/county may provide a Chapter 380/381 grant in the form of a municipal/county sales or property tax rebate.

Contact

Office: 979.532.0999
Toll Free: 866.532.0999
Fax: 979.532.5257
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Location

Wharton, TX Economic Development Commission
1944 North Fulton St.
Wharton Texas 77488
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