The Odessa Development Corporation (ODC) provides Job Creation grants, Capital Investment grants and other incentives for businesses seeking to expand in Odessa. To be considered for economic development incentives, an application is submitted for consideration along with project information such as capital investment and employment numbers.
After the completion of the application, ODC uses a matrix/formula to determine the type and amount of incentives available, if any. The application is then submitted to the ODC Compliance Committee that will review and prepare a recommendation to the ODC Board. The recommendation must be approved by both the ODC and City Council before an official contract is signed.