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The City has several local incentive programs to assist in a variety of desired activities and investments.        
 

Local Incentives

Downtown Incentives (Tax Increment Reinvestment Zone #3) »
In 2008, the City of Corpus Christi created Tax Increment Reinvestment Zone #3, in the City’s downtown. This program is administered in partnership by the City, CCDMD and CCREDC. 


Development Agreement
The City of Corpus Christi will, on an individual basis, give consideration to providing economic incentives to an applicant in accordance with the policies and procedures as authorized by Chapter 380 of the Texas Local Government Code. This program is administered by the CCREDC. To apply, please contact the CCREDC at the information listed below.
 

Business & Job Development Corporation
The purpose of the Business and Job Development Incentive Fund (Type A) is to provide economic development grants and/or loans to eligible companies seeking to create or retain jobs and invest in Corpus Christi. The Fund consists of 0.125% of the City’s Sales Tax, which is administered by a Board appointed by the City Council. This program is administered by the CCREDC. To apply, please contact the CCREDC.
 

Tax Abatements »
The growth, sustainability, and diversity of a regional economy are critical goals to the long-term prosperity of a community and its citizens. Communities must strategically plan and implement policies and incentive programs to achieve these goals. Corpus Christi’s Tax Abatement Guidelines demonstrate a pro-business environment to help attract, retain and expand targeted industries, increase employment and high-wage jobs, expand the tax base, and create long-term capital investment and new wealth opportunities in the community. This program is administered by the CCREDC. To apply, please contact the CCREDC at the information listed below.
 

Industrial District Agreement »
An Industrial District Agreement contractually protects companies located in the designated district from annexation and City requirements such as permitting and platting in exchange for a Payment in Lieu of Taxes (PILOT). The State of Texas gave cities the authority to create Industrial Districts in their extraterritorial jurisdiction through the Municipal Annexation Act, and later the Local Government Code §42.044. Corpus Christi has maintained Industrial Districts since 1980. This program is administered by the City and CCREDC. For more information, please email industrialdistrict@cctexas.com.

Opportunity Zone »
The U.S. Treasury Department gave final approval of the designation of more than 600 Opportunity Zones submitted by Texas Governor Greg Abbott, including nine Census Tracts in Nueces County.

The Opportunity Zone program was created by the 2017 federal Tax Cuts and Jobs Act and will encourage businesses to develop and invest in low-income communities in Texas. Each state could designate up to 25 percent of its eligible low-income census tracts as Opportunity Zones. The Governor’s Office analyzed Texas' eligible tracts and identified eligible areas in particular need due to chronic unemployment, lower population density, and significant economic disruptors such as natural disasters within the past two years, Texas designated 628 census tracts in 145 counties as Opportunity Zones on March 21, and the U.S. Treasury Department gave its approval of Texas’ designations on April 20.
 
Eight of nine Census Tracts designated as Opportunity Zones are within the city limits of Corpus Christi. One is in Robstown. The eight Census Tracts and the general area description are:
 
 
48355001000
Memorial Hospital -Morgan Avenue - Port Avenue –Agnes-Laredo Corridor
 
48355006400
Downtown/Uptown/Northside

48355006300
North Beach/Port of Corpus Christi
 
48355002704
South Padre Island Drive – Nile – Oso Bay
 
48355001602
Greenwood Avenue – Port Avenue – Horne Road - Baldwin Avenue
 
48355002001
South Staples – Norton Street – Ayers Street – Balwin Avenue
 
48355002200
South Staples – Weber Road – Gollihar Road – Kostoryz Road
 
48355002900
Naval Air Station Corpus Christi

The Opportunity Zone program aims to channel long-term capital into investments in distressed communities. According to the National Community Development Association, areas designated as Opportunity Zones retain the status for 10 years. Opportunity Zones will draw on unrealized capital gains in stocks and mutual funds held by individuals and corporations. By funding Opportunity Zones, investors will be able to defer and reduce their federal tax liability.  According to Enterprise Community Partners, Inc. an Opportunity Zone program “provides an incentive for investors to reinvest unrealized capital gains into Opportunity Funds in exchange for a temporary tax deferral and other benefits tied to long-term holdings. With trillions of dollars in unrealized capital gains sitting on the sidelines in stocks and mutual funds, U.S. investors can now roll passive holdings of capital into investments in distressed communities.

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State & Federal Incentives

For more information about the State and Federal Incentives, please contact the CCREDC.

  • Texas Enterprise Zone
  • Texas Enterprise Fund
  • Skills Development Fund
  • Texas Emerging Technology Fund
  • Foreign Trade Zone »