The Commerce Economic Development Corporation is a nonprofit corporation whose primary function is to promote economic development through recruitment of new industry and expansion & retention of existing industry in Commerce. The corporation was established in January 1994 when the citizens of Commerce approved the local option 4A Sales Tax for Economic Development.
The one-half (1/2) cent sales tax generates approximately $356,000 annually for economic development. Packaging these funds with incentives from the state and other local entities, the CEDC has been aggressive in its pursuit of growth for Commerce.
Examples of Incentives Provided New & Existing Industries
- Land in one of two industrial parks at no cost to the company
- Construction of a 50,000 sf speculative building sold at below cost
- Infrastructure such as curbed concrete streets, water, sewer and natural gas
- Forgivable loans and low interest loans
- Cash for agreed upon number of jobs created and capital investment
- Renovation of existing buildings
- Job Training
Additional Uses of Sales Tax Revenue
- Purchase of 150 acre site for the FM 3218 Industrial Park
- Commerce Community Profile
- Hunt County Wage & Benefit Survey
- Northeast Texas Regional Labor Survey & Analysis
- Construction of 12″ looped water line for industrial park
- Construction of major gas line to industrial park
The CEDC works hard to attract jobs and capital investment to Commerce and is known throughout the state for its creative and aggressive approach to bringing industry to our community. As evidence, Commerce won the Texas Economic Development Council’s highest award in 2002, the “Community Economic Development Award” in the 5,001 to 15,000 population category. Our success stories in the past few years show we are successful in recruiting new industry and in retention & expansion of existing industry.
We stand ready to work with you in the site selection process because “Commerce Means Business.” Join us by contacting Bonnie Hunter, Executive Director, at email@example.com or complete the Contact Form for more information.