The Dumas EDC and Business Growth & Development Program have various ways to provide financial assistance directly to existing, expanding, start-up and relocating businesses. Each of the programs available is designed to help the business establish or maintain a business within the city limits of Dumas. Depending upon the vision, plans and potential, we will craft a program that fits your business needs the best. The following is a list and description of the various incentives and programs we have established in the community, or are in the process of initiating. For more information on any of these, or to see if you qualify, contact us today!
Community Investment Program: This incentive program offers flexible options for qualified companies. Typically, the project scope in the community will dictate the amount of this incentive. Criteria required for approval may include type of industry, number of new jobs created, wage level, financial analysis, use of investment, capital investment and tax value to the community. This incentive requires a comprehensive background check, performance agreement, and approval of both the City Commission and Dumas EDC Board of Directors. The entire process typically takes 3 months to process for larger projects, and 30 days for smaller projects.
Re-Du It Dumas: This incentive is specifically designed to help a new or expanding business take on a property found to be in disrepair or in need of a façade improvement. The property must be located within the city of Dumas and such that an improvement, removal or renovation to it will result in an increased tax value or improve the aesthetic value on the community, or provide a new viable business location that otherwise would not be available. This incentive requires the approval of both the City Commission and Dumas EDC Board of Directors. The funding amount will be limited to a percentage of the total costs and take into account the economic impact the business will provide.
Dumas Retail Rebate Program: This City of Dumas approved program provides a sales tax rebate to a retailer that generates sales tax dollars for the community. Based upon the Texas Comptroller’s Office Chapter 380, cities that approve the use of this program a permitted to rebate a portion of the city’s sales tax dollars collected from a specific retailer. The Dumas EDC administers the program and businesses are selected based upon the following criteria: The business does not substantially disrupt an existing similar business, the business can demonstrate at least 50% new revenue for the city, the business provides a product or service that is not currently available, the business is such that it will significantly aid in new tax revenues for the city, or the business will substantially decrease the retail sales leakage experienced in the community. Typically, rebate amounts will be 75% or less of the total sales tax dollars collected by the city’s 2% sales tax rate and last for 3 years unless the business demonstrates a much larger economic value for the community.
Dumas Reinvestment Zone Program: This program is a property tax abatement program. It is designed to eliminate a portion of the property tax liabilities for select projects found within the designated Reinvestment Zone. Projects that involve clean-up, renovation or removal of properties found to be in disrepair or a nuisance may qualify.
Dumas Business, Growth & Development Fund: The BG&D program considers small grant assistance and scholarships for local firms enrolled in the Business Facilitator program. Based upon a recommendation by the staff, the BG&D Committee will consider providing matching grants, funds and scholarships for those firms requesting help on a new piece of equipment, a new marketing or advertising program or wish to attend an industry trade show or conference. Typically funds are based upon the potential increase in business revenues that the particular item or program will attract.
Dumas EDC Community Grant Program: This program is designed for local non-profit entities seeking funding assistance for a project involving tangible property that can demonstrate one or more of the following criteria: The project and items are available to a larger part of the general public, the project provides a local quality of life improvement, the project demonstrates an economic value, the project provides a workforce related benefit, the project aids in the retention of young adults, the project creates a new community program or aids in an existing one. This is an annual program typically accepting applications in February-March, and a Committee reviews each and makes recommendations to the Dumas EDC Board of Directors for approval, and subsequent Resolution of Support by the Dumas City Commission. For more information, go to the Dumas Community Grant Program link on this website.
Dumas Community Improvement Fund: This program is designed to help provide assistance to programs in the community that will provide a substantial economic benefit. Typically, this fund will be used to help attract an event into the community that will dramatically increase the local sales and hotel taxes for a period of time, thereby benefitting our local businesses. Other uses include improvements to governmental or social programs that will significantly improve our quality of life. The amount of funds will be determined by the potential economic impact of each project. New projects intended to be annual, or one time project with significant implications will be considered. Consideration will be given on a case by case basis.
Dumas EDC Marketing & Sponsorship Fund: All funds requested of the Dumas EDC for advertising, sponsoring an event or activity are considered upon request. The Dumas EDC has established internal policies governing the use of advertising/sponsorship dollars. Typically, the event, activity or project will dictate when and if we will provide funds. The key element in consideration always involves the advertising exposure, community impact and benefit to the Dumas EDC and/or its various programs and projects. Rarely does this fund provide any amounts in excess of $500.