Odessa—the hub for commerce in West Texas—has the infrastructure, skilled workforce and business spirit to help companies thrive. No wonder that Odessa is one of the fastest growing markets in the country, according to the U.S. Department of Commerce.
Located in Ector County midway between Fort Worth and El Paso, Odessa in the heart of the Permian Basin, an area of 100,000 square miles in West Texas that collectively is the largest single source of oil and gas deposits in the United States.
International trade, distribution opportunities and proximity to major markets make doing business in Odessa a breeze–and the Odessa Development Corp. (ODC) can help boost opportunities even further.
ODC actively recruits and attracts new business and maintains Odessa’s existing industry base. The organization provides job creation grants, capital investment grants and other incentives for businesses seeking to expand in Odessa, based on the number of new jobs created, annual payroll and the amount of a company’s capital investment.
Other possible incentives include infrastructure improvement grants, property tax incentives, training and recruiting and screening of employees. The Skills Development Fund is designed to help businesses apply for job training funds in partnership with local community colleges and technical schools to finance customized job training.
Moreover, businesses that locate in designated zones may be eligible for local and/or state benefits in the Texas Enterprise Zone Program. The Governor’s Office of Economic Development & Tourism may grant state benefits if a business is awarded “Enterprise Project” status.
Examples of state benefits include state sales tax refunds of taxes paid on machinery and equipment, building material, labor for the rehabilitation of existing buildings, and electricity and natural gas purchased for use in the Enterprise Zone. Additionally, companies that locate in non-entitlement communities may receive funds for needed infrastructure through the Texas Capital Fund Infrastructure Program.
Explore how the ODC can help your business succeed at odessatex.com.