Local Economic Development Corporations within the region have amassed significant portfolios of economic development. The Economic Development District supports these efforts and partners through provision of technical assistance when needed. Currently there are numerous Economic Development Corporations in the region including the Abilene Industrial Foundation, Abilene Economic Development, Aspermont / Stonewall County Economic Development, Breckenridge Chamber of Commerce, Brownwood Economic Development Corporation, Coleman County Chamber of Commerce and Agriculture, Comanche Economic Development Corporation, Cross Plains Economic Development Corporation, Development Corporation of Baird, Inc., Early Economic Development Corporation, Eastland Economic Development Corporation, Hamlin Economic Development Corporation, Merkel Economic Development, Mitchell County Economic Development Corporation, Ranger Economic Development, Santa Anna Economic Development Corporation, Snyder Economic Development Corporation, Stamford Economic Development Corporation, Sweetwater Enterprise for Economic Development, Taylor County Economic Development Corporation, The High Ground of Texas, Tye Economic Development Corporation and Winters Area Business and Industry Corporation Economic Development.
Several cities in the region have passed 4A and 4B sales tax to undertake eligible projects. These cities include Albany, Anson, Aspermont, Breckenridge, Bronte, Cisco, Goree, Gorman, Knox City and Robert Lee. The cities with 4A sales tax include Abilene, Baird, Big Spring, Brownwood, Coleman, Comanche, DeLeon, Early, Eastland, Hamlin, Haskell, Munday, Ranger, Rotan, Snyder, Stamford, and Sweetwater. Cities with 4B sales tax include Bangs, Benjamin, Breckenridge, Buffalo Gap, Clyde, Cross Plains, Gustine, Merkel, Miles, Rising Star, Santa Anna, and Throckmorton.
Several cities in the region have passed 4A and 4B sales tax to undertake eligible projects. These cities include Albany, Anson, Aspermont, Breckenridge, Bronte, Cisco, Goree, Gorman, Knox City and Robert Lee. The cities with 4A sales tax include Abilene, Baird, Big Spring, Brownwood, Coleman, Comanche, DeLeon, Early, Eastland, Hamlin, Haskell, Munday, Ranger, Rotan, Snyder, Stamford, and Sweetwater. Cities with 4B sales tax include Bangs, Benjamin, Breckenridge, Buffalo Gap, Clyde, Cross Plains, Gustine, Merkel, Miles, Rising Star, Santa Anna, and Throckmorton.
A multi-year review of the county sales subject to tax quantitatively reveals that all but Jones and Kent Counties have experienced increased county sales from 2004 to 2008. In some cases such as Scurry County, the county sales have doubled. Eastland. Stephens and Stonewall Counties have increased sales substantially. In sharp contrast Jones County has experienced a $42,000,000 reduction in county sales subject to tax.
The WCTEDD CEDS survey administered throughout the region in May, 2010 queried respondents with regards to sales tax to have a “real time” understanding of the sales tax base in the region. Respondents stated that sales tax revenue had decreased for their area 54.4% of the time; whereas % stated that the revenue remained unchanged in the region. A fortunate few, 8.8%, stated that sales tax revenue had actually increased in their area and 10.3% remained uncertain as to the status of sales tax revenues.
Review of the applicable sales that are subject to tax assists in projecting the funding available for local Economic Development Corporations to begin 4A or 4B eligible economic development projects. In addition, the loan assistance from Council Finance, and the grant application initiatives of the West Central Texas Economic Development District, ensure the region is poised to financially assist and attract new business to the region or to attract new global markets to existing business for export purposes.
The WCTEDD CEDS survey administered throughout the region in May, 2010 queried respondents with regards to sales tax to have a “real time” understanding of the sales tax base in the region. Respondents stated that sales tax revenue had decreased for their area 54.4% of the time; whereas % stated that the revenue remained unchanged in the region. A fortunate few, 8.8%, stated that sales tax revenue had actually increased in their area and 10.3% remained uncertain as to the status of sales tax revenues.
Review of the applicable sales that are subject to tax assists in projecting the funding available for local Economic Development Corporations to begin 4A or 4B eligible economic development projects. In addition, the loan assistance from Council Finance, and the grant application initiatives of the West Central Texas Economic Development District, ensure the region is poised to financially assist and attract new business to the region or to attract new global markets to existing business for export purposes.