Sherman aims to be aggressive and creative in the incentives process to tailor a comprehensive agreement supporting the specific business growth goals of your project. We encourage a dialogue with company representatives to craft a mutually accepted program of business support.
SEDCO is a (type A) sales tax funded, state chartered, non-profit corporation. SEDCO offers cash grants to qualifying companies for expansion, new job creation, and relocation projects. See application form below.
The Small Business Grant Program provides a grant of up to $50,000 to early stage operating companies in need of capital for growth. The company must be in operation within the City of Sherman for at least one year and comply with Type A funds as a primary employer. Click here to learn more about the Small Business Grant Program.
The SEDCO “Buy Local” cash grant provides an additional 5% (up to $20,000) of the total amount paid to local vendors for the purchase of goods and services within the City of Sherman, Texas, in addition to the Performance Agreement.
Texas – the state wide open for business – offers many incentives to help you relocate your business to the Sherman area. These incentives are designed to improve the state’s standing as a place to do business. Among them, a new worker’s compensation system; tort reform measures; trucking deregulation; and reform of the Texas Deceptive Trade Practices Act.
Texas Enterprise Zone program provides reimbursement of state sales and use tax paid by a company for up to five years.
Texas Enterprise Fund provides grants for qualifying projects based on job creation. The Texas Governor’s Office of Economic Development manages the grant process.
Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones designated by the chief executives of every U.S. state and territory.
Opportunity Zones in Sherman, Texas:
Census Tracts 48181000902 & 48181002000
Any consideration of financial or other incentives for businesses to expand or locate in the Sherman area will be evaluated and based on the cost and benefits to Sherman. The impact will be based directly on the number of jobs created, wages paid, local purchase of products and services, indirect employment gains and the general benefit of furthering SEDCO’s mission.
The City of Sherman and Grayson County will consider an agreement that exempts all or part of the increase in the value of the property and/or tangible personal property from taxation for a period not to exceed 10 years.
The City of Sherman and Grayson County will consider entering into 380 (City) or 381 (County) agreements with qualifying companies that are tailored to company needs and offer a range of incentives designed to promote local economic development.
The City of Sherman, Grayson County, Grayson County College and the Sherman Independent School District have adopted the Freeport exemption that eliminates property tax on inventory for qualifying goods shipped within and out of state within 175 days.
Businesses in Sherman and Grayson County are eligible to participate in the use of Foreign Trade Zone #39 sponsored by the Dallas-Fort Worth International Airport. They can utilize the Alternate Site management framework, which allows an expedited process for approving new “Usage Driven” foreign trade zone locations. Economic benefits include customs duty referral on imports and duty elimination for imports that are re-exported.