ResourcesThe following list identifies many of the economic development incentives potentially available. In addition to the local incentives, the Floydada Economic Development Corporation can assist businesses in gaining the maximum benefit from state, federal, and other government entities incentives programs. The following is a list of state and federal programs. If you have a question about which service you need, please contact us with your inquiry.
The Texas Enterprise Fund
This fund is used only as a final incentive tool where a single Texas site is competing with another viable out-of-state option. Additionally, the TEF will only be considered to help close a deal that already has significant local support behind it from a prospective Texas community.
Texas Department of Agriculture
The Texas Capital fund supports rural business development, retention and expansion by providing funds for public infrastructure, real estate development, or the elimination of deteriorated conditions. Several promotional programs are available to businesses that produce Texas products.
U.S. Department of Agriculture
Through its Business Programs, USDA Rural Development provides for business credit needs in under-served rural areas, often in partnership with private-sector lenders to promote new and expanded business development.
The Small and Microenterprise Revolving Loan Fund (SMRF)
The SMRF was designed to assist small businesses expand and therefore create or retain jobs. In order to utilize the SMRF program, eligible small businesses must create or retain jobs for a period of 2 years. The fund is administered through the Caprock Business Finance Corporation in Lubbock, Texas.
Click here for contact information to the Caprick Business Finance Corporation.
TTU - Small Business Development Center
The Tech University Small Business Development Center in Lubbock, Texas is here to help your business grow to its full potential. With their one on one business counseling, workshops and many other services, they can to help you start a new business or grow an existing one.
Small Business Administration
The programs are many and varied, and the qualifications for each are specific. SBA can help facilitate a loan for you with a third party lender, guarantee a bond, or help you find venture capital.