Incentives

Local Incentives

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 Grants

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.

Click Here for a SEDCO Incentive Application

Small Business Grant

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.

“Buy Local” Grant

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 Statewide Incentives

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.

www.texaswideopenforbusiness.com

Workforce Training Grants

Texas Skills Development Grants are available through Workforce Solutions Texoma with training provided by the Center for Workplace Learning at Grayson College.

Texas Enterprise Zone

Texas Enterprise Zone program provides reimbursement of state sales and use tax paid by a company for up to five years.

Texas Enterprise Fund (TEF)

Texas Enterprise Fund provides grants for qualifying projects based on job creation. The Texas Governor’s Office of Economic Development manages the grant process.

Incentive Application

Click Here for a SEDCO Incentive Application

Policy Position

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.

Property Tax Abatement

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.

Chapter 380 and 381 Agreements

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.

Freeport Tax Exemption

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.

Foreign Trade Zone

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.