Odessa is unique. The city now offers a quintuple Freeport Exemption from all taxing entities on goods in transit. Just one more reason that Odessa is the right place for your business.
This business incentive is designed to exempt some or all of a company’s inventory from property taxes. Businesses involved in the export of tangible property such as goods, wares, and merchandise may be eligible for the Freeport Exemption. For your business to be eligible, all property must be assembled, stored, manufactured or fabricated locally and then exported out of the state within 175 days.
Odessa has Enterprise Zone status and provides property tax abatements, local sales tax rebates, and development fee rebates to qualified businesses locating or expanding within the designated area. This Enterprise Zone incentive is available for both local and state resources.
The Texas Enterprise Zone Program is one of Texas' strongest economic development tools in attracting new and growing business ventures. Through the program, the Department of Commerce is committed to succeed in increasing investment and creation of jobs for Texans.
Established in Texas in 1987, the Enterprise Zone Program encourages the creation of permanent jobs to induce capital investment. Enterprise Zones constitute viable options to businesses looking to start-up, expand or locate a site. Businesses located in the designated enterprise zones can qualify for tax incentives and other economic program benefits. For more information or to see if your business qualifies, call Wesley R Burnett CEcD at (432) 333-7880.