DEPARTMENT: Economic Development
DEPARTMENT HEAD: Alejandra Lopez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Briefing on recommended updates to the City's economic development incentive guidelines.
SUMMARY:
This item will provide a briefing to the Economic and Workforce Development Committee (EWDC) on the recommended updates to the Economic Incentive Guidelines.
BACKGROUND INFORMATION:
The City utilizes several tools to support the recruitment of new jobs and private investment to San Antonio and the expansion of existing San Antonio companies. These tools include Chapter 312 Economic Development Agreements and Chapter 380 Economic Development Agreements. Chapter 312 of the Texas Tax Code provides local governments with the authority to enter into tax abatement agreements to promote the attraction of new companies and the retention and expansion of existing businesses in order to create new jobs and investment. State law requires the adoption of the Tax Abatement Guidelines by City Council every two years. Additionally, Chapter 380 of the Texas Government Code provides the City with the ability to issue grants for economic projects, and rebate taxes. While Chapter 380 does not mandate that City Council approve the Chapter 380 guidelines every two years, staff reviews them on a bi-annual basis to ensure alignment with the Ch. 312 Guidelines and ensure they reflect the community's priorities.
In 2018, City Council approved a set of guidelines that supports the City's priorities of:
1. Attracting new targeted industry jobs and investment;
2. Maximizing the competitiveness of local businesses; and
3. Supporting socioeconomic mobility for San Antonio residents.
Under these guidelines, the Economic Development Department (EDD) has prioritized opportunities with significant capital investment, job creation in targeted industries, and projects that demonstrate the capacity to promote access to job opportunities and training to ...
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