Business Retention & Expansion Program (BREP)
The Business Retention and Expansion Program is an incentive program intended to assist local businesses who are interested in expanding their business either through additional capital investment, hiring additional personnel or some combination thereof. Incentives may take the form of monetary grants, tax rebates, development fee reimbursements or other monetary or non-monetary assistance. The program is also intended to help retain companies who may be contemplating leaving San Angelo or expanding in another location.
The program is funded through the ½ Cent Sales Tax, approved by voters for economic development. It is governed by State Law, specifically Chapters 501 through 505 of the Texas Local Government Code.
By State law ½ Cent Sales Tax funds may only be utilized for the retention or creation of Primary Jobs, defined as jobs at companies which help infuse new dollars into the local economy and which are included in certain industry Sectors as shown below.
Eligible Industry Sectors
- Crop Production
- Animal Production
- Forestry & Logging
- Wholesale Trade
- Transportation & Warehousing
- Securities, Commodity Contracts, Financial & Relate Activities, Insurance Carriers, Funds, Trusts & Other Financial Vehicles
- Scientific Research & Development Services
- Management of Companies & Enterprises
- Telephone Call Centers
- Cash Grants For Job Creation
- Property Tax Rebates
- Development Fee Reduction
- Financial Assistance
- Rebates For Certain Construction Related Costs
- Business Training & Workforce Training
- Referrals to Other Available Resources
For additional information contact Nolan Sosa.