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Incentives

 

The Buda Economic Development Corporation and the City of Buda have the ability to provide incentives to all different types of busineses locating in or expanding in Buda. The Buda Economic Development Corporation serves as the contact point for incentives from either the EDC or the City of Buda.

The Buda Economic Development Corporation has four different programs in which incentives can be provided: Traditional Incentives, Small Business Permitting, and the Buda Business Development Program.

Traditional Incentives

The value of incentives will be determined by the return on investment to the City of Buda. Projects are scored by a matrix that reviews the number of jobs, type of project, wages, impact on city services, and development practices. Not all applications will score high enough to qualify for incentives under this program. Businesses are encouraged to review the scoring matrix before submitting an application.

Minimum Requirements

  • 10 Full-Time Equivalent Jobs (above avg. wage)

  • $250,000 Capital Investment (new taxable property)

  • Target Industry or Fills Unmet Need

Documents

Small Business Permitting

Provides 50% reimbursement of certain permit fees for small busineses locating in the City of Buda or limited purpose annexation area. This program is for small for-profit businesses that don't qualify for incentives or grants from other programs. Maximum reimbursement is $1,250. This program applies both to new businesses and expanding businesses in Buda.

Requirements

  • Commercial Property Only

  • Reimbursement Occurs Once Business Opens

  • Target Industry

  • Must be open 30+ hours a week

Documents

Buda Business Development Program

Provides grant funding for new or expanding small businesses located in an existing building in Buda's Heritage Distrct. Funds are available for both interior and exterior improvements and are determined by the terms of the lease, square footage, and linear frontage of the building. Maximum grant amounts are $5,000 for interior and $5,000 for exterior. Businesses are required to provide matching funds.

Minimum Requirements

  • Commercial Property Only

  • Cannot be used for new construction or speculative development

  • Requires HPC Design Compliance, if applicable

  • Businesses must be open 30+ hours a week, with daytime and evening hours

  • Business must be for-profit

Documents