Incentives

In effort to meet the vision and standards established by City leaders, the City of Bedford offers a variety of incentive options to attract new business, and promote the retention and expansion of existing business. It is our desire to utilize incentives strategically and judiciously to create a win-win outcome for our future corporate citizens as well as our existing taxpayers. Additionally, the State of Texas provides services that are conducive to a vibrant economy through the Texas Wide Open for Business website. Business interested in incentives should contact the Director of Development at 817-952-2125 or via email.

We are confident you will find these incentives more than competitive and when combined with the many attributes of a Bedford location, come to the conclusion that this is the right location to establish your corporate future. Please contact us should you have any questions or desire further clarification.

Financial Incentives

  • Administrative Fee Reductions
  • Chapter 380 Agreements: Chapter 380 of the Local Government Code provides very significant legislative authority for Texas municipalities in the area of economic development. When a city wants to provide a grant or a loan of city funds or services in order to promote economic development, it generally cites its powers under Chapter 380. Cities have utilized the provisions under this law to provide a myriad of incentives that have drawn businesses and industries to locales throughout Texas. This statute basically allows the provision of loans and grants of city funds, as well as the use of city staff, city facilities, or city services at minimal or no charge.
  • Infrastructure Assistance or Reimbursement
  • Tax Increment Financing: Tax Increment Financing (TIF) is a tool to finance public improvements within a defined area. The improvements should enhance the environment and attract new investment. The statutes governing tax increment financing are in Chapter 311 of the Texas Tax Code.

Procedural Incentives

  • Fast-Track Permitting: The City would work with the prospect to allow fast-track permitting with phased permit releases if desired.
  • Fast-Track Planning Processing: The City would work with the prospect to accommodate a zoning or site plan approval process shorter than the typical process.

Retail Center Revitalization (RCR) Program

The City of Bedford is committed to the promotion and retention of high-quality development in the City. The Retail Center Revitalization (RCR) Program is designed encourage the revitalization of Bedford’s older retail centers. The RCR program offers grants to property owners and tenants seeking to renovate or restore such items as exterior signage, lighting, landscaping and building façades. The primary goal of this program is to impact properties in need of revitalization, resulting in the improved exterior, visibility, and presentation of a property or business.

For more information: Retail Center Revitalization (RCR) Program Guidelines
Retail Center Revitalization Program Application Form