Incentives for new industries locating in Hale County are based on the projected number of new jobs that will be created. Incentives take different forms depending on the needs of the new industry.
Industrial Revenue BondsThe Hale County Industrial Development Corporation was created with the specific purpose of facilitating the issuance of Industrial Revenue Bonds. These bonds are available for issuance in Hale County and the surrounding counties for various industrial and environmental purposes.
The underlying purpose of the issuance of Industrial Revenue Bonds for financing a project is that the interest from the bonds will be tax free to the holder of the INdustrial Revenue Bond which creates a lower interest rate to the company financing their project. The long term interest savings to an industry through the issuance of the Revenue Bonds can be quite substantial. Visit with the Executive Director of the Plainview Hale County Industrial Foundation for more information on this financing option.
Revolving Loan Fund
The Ctiy of Plainview has a revolving loan fund available to industries that can qualify. Contact the Executive Director of the Plainview Hale County Industrial Foundation or the Plainview City Manager (806-296-1106) for more information on this program.
Enterprise ZoneThe City of Plainview has a designated Enterprise Zone that can qualify a new or expanding industry for rebates on sales taxes paid on the expansion project. See State of Texas Enterprise Zone at: http://www.tded.state.tx.us/TexasEnterpriseZone/