? Yoakum Economic Development Corporation - Incentives - Yoakum, TX

Yoakum Economic Development Corporation

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Incentives

In April, 2014 the YEDC announced 3 new Retail Programs - they are:

New Retail

Open a new retail store in Yoakum that:

*       Has employees, other than owner and/or

*       Collects sales tax

*        Keeps the new store open for a minimum of six (6) months

Qualifying business owners are eligible to apply for a one time grant of $5,000 under this program.

 Vacant/Underutilized Buildings

Transform a vacant building in the defined business district (Bounded by and within Hopkins Street, Front Street, West Street and McCarty Street) into a retail business that collects sales tax.  Keep the new store open for a minimum of six (6) months and the building owner is eligible to apply for a YEDC one-time of $2,000.

Convert an underutilized building in the defined business district from storage, office space or a meeting room or church, into a retail business that collects tax.  Building owner is eligible to apply for a YEDC one time grant of $2,000, after 6 months of continuous retail operation.

 Extended Business Hours

Retail business owners that extend their hours of operation:

*        To stay open until 4PM on Saturday, (if they are presently open on Saturday).

                                             OR

*        Open Saturday, and stay open until 1PM, if they presently are closed on Saturday

*        Business hours must be maintained for six (6) months,

Business owners are eligible to apply for YEDC one time Grant of $2,000.

Business owners that currently have extended business hours are not eligible.

Download the application

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YEDC Funding Program

Existing or new businesses may apply for project funding from the YEDC by completing a five page application. Once the application is accepted by staff, the entire process takes approximately three months before a Performance Agreement is signed and the funds dispensed.

Download the application

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Enhancement Programs
The most utilized program of the YEDC is the Business Enhancement Program. On an annual basis the Board accepts applications for the following three programs:

The Business Retail Enhancement Program works to stimulate activity to businesses that collect and report sales tax within the city limits. Under this grant program, up to fifty percent of the total cost, not to exceed $10,000, will be reimbursed upon completion of the project. A completed business plan coordinated with the University of Houston-Victoria's Small Business Development Center is required to be considered for this grant.

The Business District Preservation Program works to preserve, protect, enhance, and encourage activity in the downtown business district which is bounded by and within Hopkins St., Front St., West St., and McCarty St. Under this grant program, up to fifty percent of the total cost not to exceed $7,500, will be reimbursed upon completion of the project. Types of work include signage, brick work, painting, side walks, landscaping, store front upgrades, second story conversion, interior repair, windows and other related activities.

The Community Services Program fosters support to non-profit organizations within the Yoakum trade area. Under this grant program, up to fifty percent of the total cost, not to exceed $5,000, will be reimbursed upon completion of the project.

In cooperation/coordination with the City of Yoakum, the YEDC can facilitate applications for two additional programs:

  • Texas Department of Agriculturee
  • Texas Capital FundTexas Capital Fund
  • Infrastructure & Real Estate Development Program
  • City of Yoakum Tax Abatement Program as authorized by the Property
  • Redevelopment and Tax Abatement Act of 1989

Download the application