The SLDC has a direct incentive program, which may be used to provide cash grants to qualifying projects and companies.
The Sugar Land Development Corporation (SLDC) is an economic development sales tax (Type A) corporation of the City of Sugar Land. SLDC collects a 1/4 cent of sales tax from taxable sales for the purpose of funding economic development activities.
The SLDC has a direct incentive program, which may be used to provide cash grants to qualifying projects and companies. If the company is eligible, the direct incentives are based on several factors including job creation, wages, and capital investment. The applicant's financial strength, business history, and an analysis of the relevant business sector are also reviewed.
Requirements:
Minimum Number of Primary Jobs: 100
Minimum annual average salary: 50% of the City’s average Household Income
Minimum Capital Investment: $15 million (new construction) and $3.25 million (leasing tenants)
Minimum Square Footage Lease: (Leasing Tenants): 25,000
Credit Rating: “A”
Duration: Maximum of 10 Years
Minimum Annual Rate of Return: 10.5 %
Direct incentives require a performance agreement with the company and are based on the assumptions used to determine the incentive. The City of Sugar Land's Office of Economic Development administers the direct incentive program. Applications are processed directly through the Economic Development staff.