The City of Plano’s primary focus is to enrich its city with excellence and to strive towards improving the quality of life to the highest standards for its citizens. In doing so, the City of Plano works to enhance the City’s economy, by working side-by-side with its companies to promote growth in their industries. The City of Plano reflects this focus by considering companies in accordance to the criteria and procedures set with each respective agreement, and the subject of approval by the Plano City Council.
It is the City of Plano’s policy to encourage new investment and business attraction through the utilization of tax grants, performance-based job creation grants, and/or other redevelopment grants, as authorized by Chapter 380.001 of the Texas Local Government Code. The City has chosen Chapter 380 as the preferred path for the provision of incentives and does not currently offer tax abatement, as authorized by Chapter 312 of the Texas Tax Code, which may provide a reduction of taxes owed on new added value for a defined period of time.
The City of Plano currently has 32 active Economic Development Incentive Agreements and 2 Hotel Occupancy Grant Agreements. Within these agreements, 21,005 jobs have been created. Please click the company name and resolution number to view the fully executed agreement and resolution, approved by The City of Plano City Council.
The City of Plano currently has 14 active tax abatement agreements and 1 Tax Rebate agreement. Details about these agreements are listed below. Please click the company name and resolution number to view the fully executed agreement and resolution, approved by The City of Plano City Council.
The above tax grant projects have generated over $1.3 billion in total capital investment in the City of Plano, with an estimated amount of $244,800,000 taxes abated within the year one of agreements, and $703,900,0000 during life of agreements.