Gainesville is pro-business and, as a Type B EDC, is investing in the retention and expansion of existing businesses and recruitment of new businesses that will provide new jobs and bring new dollars into our local economy.
The guidelines that follow establish the expectations to qualify for incentives awarded by the GEDC. The GEDC Board of Directors may vote to suspend these guidelines in order to consider projects on a “case by case” basis.
With affordable land, interstate and rail access, and a pro-business environment, the Gainesville Economic Development Corporation provides incentives to industry under the following guidelines:
Qualifying Job-Based Incentives
The GEDC considers incentives for jobs which earn a living wage in Gainesville, Cooke County, Texas.
The GEDC defines a living wage in Gainesville, Cooke County, Texas as those jobs which pay $18.50 per hour on a full time basis (2080 hours annually) or a minimum of $38,500 in salary annually.
Health benefits are required.
Retail projects are not eligible for job-based incentives
Eligibility requires the employee to be a resident of Cooke County.
Job incentives begin after the employee has been on the company’s payroll for a period of 3 months.
Incentives are paid annually after performance measurements are met.
Minimum Qualifications for GEDC and City Incentives
Minimum growth requirements for existing manufacturing is 10 retained and 5 new jobs AND $250,000 unabated investment in building, machinery/equipment and/or personal property.
Minimum requirements for new manufacturing and office business is 20 new jobs and $500,000 unabated investment in building, machinery/equipment and/or personal property.
Minimum requirements for retail and Type B qualifying business projects is $3,00,000 in unabated construction costs.