Emerging Technology Fund
The Emerging Technology Fund (ETF) was created by the Texas Legislature in 2005 at the urging of Gov. Perry to provide Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies.
ETF grants are awarded in the following three areas:
- Commercialization Awards: funds to help companies take ideas from concept to development to ready for the marketplace.
- Matching Awards: funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs, and industry.
- Research Superiority Acquisition: funds for Texas higher education institutions to recruit the best research talent in the world.
Texas Enterprise Fund
At Gov. Rick Perry's request, the 78th Texas Legislature established the Texas Enterprise Fund (TEF) in 2003 to help attract new jobs and investment to the state. The fund was reauthorized by the Legislature in 2005, 2007, and 2009. As the largest "deal-closing" fund of its kind in the nation, the TEF continues to attract businesses to Texas. The fund is used only as a final incentive tool where a single Texas site is competing with another viable out-of-state option. Additionally, the TEF will only be considered to help close a deal that already has significant local support behind it from a prospective Texas community.
The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation and capital investment in economically distressed areas of the state.
Local communities must nominate a company as an Enterprise Project to be eligible to participate in the Enterprise Zone Program. Legislation limits allocations to the state and local communities per biennium. The state accepts applications quarterly with deadlines on the first working day of March, June, September and December.
Texas Capital Fund
The Texas Capital Fund (TCF) program is administered by the Texas Department of Agriculture through an interagency agreement with the Office of Rural Community Affairs (ORCA). The TCF program encourages business development, retention, or expansion by providing funds to eligible applicants. Funds will be awarded for the express purpose of assisting in the creation of new permanent jobs or retention of existing permanent jobs, primarily for low and moderate income (LMI) persons. In order to comply with the national goal of expanding economic opportunities for LMI persons, a minimum of 51 percent or more of all the jobs created or retained by the business must benefit persons who qualify as LMI.
These funds are a part of the U. S. Department of Housing and Urban Development's (HUD) Community Development Block Grant (CDBG) program and is known as the Texas Community Development Program (TCDP) in our state. The program is only available to non-entitlement city or county governments. Non-entitlement cities/counties do not receive direct funding from HUD and typically include cities with a population of less than 50,000 and counties of less than 200,000. There are over 1,200 eligible cities and counties in the state. Awarded cities and counties receive funds to make public infrastructure and/or real estate improvements to support a specific business that is expanding or beginning operations in the applicant's jurisdiction and are contingent upon the business making a capital investment and creating/retaining jobs for Texans.
Infrastructure and Real Estate will have open applications wherein all applications received on or before the 20th of each month will be reviewed for funding.
Skills Development Fund
The Skills Development Fund is Texas' premier job–training program providing training dollars for Texas businesses and workers. Administered by the Texas Workforce Commission, success is achieved through collaboration among businesses, public Community and Technical colleges, Local Workforce Development Boards and economic development partners.
For the next two fiscal years (September 1, 2009 – August 31, 2011), TWC has $90 million in Skills Development Funds to support high quality, customized job training projects across the state. Grants for a single business may be limited to $500,000.
A business, consortium of businesses, or trade union identifies a training need, and then partners with a public Community or Technical college to fill its specific needs. Businesses work with college partners to submit proposals, develop curricula and conduct training. The Skills Development Fund pays for the training, the college administers the grant, and businesses create new jobs and improve the skills of their current workers.