The City of Tyler has guidelines in place to use City funds for land, facilities, equipment and infrastructure grants to support primary employers that impact primary jobs, expand the City tax base and diversify the local economy. Eligible companies must create or retain a minimum of 50 full time jobs and sell 70% of their goods and/or services outside a 50 mile radius of downtown Tyler.
In 1995, City of Tyler voters approved the adoption of an economic development sales tax, also referred to as the Half Cent Sales Tax . The original primary intent of the tax, known as the 4A Half Cent Sales Tax, was for manufacturing and industrial development, and cities could use the money raised by this sales tax to acquire or pay for land, buildings, equipment, facilities, expenditures, targeted infrastructure and improvements for purposes related to:
The City of Tyler, however, adopted the 4B Half Cent Sales Tax, which expanded the use of these funds for quality of life improvements, including economic development that will attract and retain primary employers. To promote and develop new and expanded business enterprises that create or retain primary jobs, a city may provide:
The City now collects approximately $10 million in Half-Cent Sales Tax revenues which have allowed the City to pay cash for capital projects such as drainage and street improvements, public safety improvements, construction of Faulkner Park, construction of the Glass Recreation Center, construction of the new airport terminal and more. For more information about the Tyler's use of these funds, please click here.
The State of Texas Attorney General's office produces an annual Economic Development Handbook that provides detailed information about all available funding options available in the State of Texas. The publication is only available online and can be downloaded in PDF format.