Economic Development Incentives
Cedar Park has a number of performance-based financial incentive programs available for businesses that are creating new job opportunities, expanding the local tax base and raising the local per capita income level. Incentives are determined on a case by case basis according to criteria that include capital investment, job creation, and sales tax generation. A project’s ability to advance strategic initiatives of the city, such as how a business might enhance other new business prospects for our area, is also considered.
Some of the incentives available include:
• Performance based incentives through the City of Cedar Park’s 4A and 4B Sales Tax Corporations
• Tax abatements on real and personal property for up to 10 years
• Chapter 380 tax rebates for projects which significantly enhance the City of Cedar Park’s tax base
• Triple Freeport exemption on property tax on inventory for employers that manufacture or distribute goods that are shipped outside of Texas
• Fast track approval through the development process, including Pre-Development meetings available for all site plans
• Reimbursement of allowable permit fees, impact fees, capital recovery fees, and inspection fees associated with the project.
Economic Development Support for Existing Businesses
The City of Cedar Park’s Economic Development Department strives to create a pro-growth environment that promotes local businesses. The city meets regularly with local businesses at their facility to get a better grasp of the business community’s activities as well as to share insight about incentives or programs designed to encourage their continued growth. By proactively addressing issues of concern, Cedar Park demonstrates our commitment and appreciation of your investment in our community.
The City provides many services free of charge for area businesses to assist them in their efforts to do business and expand in Cedar Park. The City of Cedar Park Economic Development Department works closely with regional partners such as the Governor’s Office of Economic Development, the Cedar Park Chamber of Commerce, Capital Certified Development Corporation (SBA), the Opportunity Austin program of the Austin Chamber of Commerce, the Pedernales Electric Cooperative and the Texas Workforce Commission to address the needs of businesses.
Available Free Services include:
• One Stop Contact for City of Cedar Park Information
• Area Demographic Data
• Available Building/Land Database
• Expansion Assistance
• Development Services Coordination
• Infrastructure and Traffic Questions
• Area Quality of Life Data