City of Irving
Irving residents and businesses enjoy one of the lowest municipal property tax rates in the Dallas/Fort Worth Metroplex. Additionally, for qualifying new, relocating and expanding companies, the City of Irving offers incentives that can reduce property taxes by 30 percent or more for up to 10 years. Irving’s program of primary and premium incentives includes significant, enhanced abatements for development and redevelopment in South Irving.
To further support qualifying businesses, the City often takes a creative approach to structuring abatements. For example, incentive agreements can be structured to allow a higher percentage of benefits early in the abatement period, to offset moving and start-up costs.
Incentives are granted on a case-by-case basis by the Irving City Council. To simplify the incentive process, a member of the Greater Irving-Las Colinas Chamber Economic Development Team personally works with each applying company, serving as advocate and liaison with city staff and the city council throughout the process.
Tax Increment Finance District
The Irving Tax Increment Finance District No. 1 offers reimbursement of certain infrastructure costs for development within the district.
The TIF was created in 1999 to encourage high-quality growth within a 3,600-acre zone in Las Colinas. Most of the TIF is located within the boundaries of the Dallas County Utility and Reclamation District, or DCURD, and falls within the Las Colinas Urban Center. The City of Irving, Irving ISD, Carrollton-Farmers Branch ISD and Dallas County Community College District are participants in the TIF.
Dallas County Utility and Reclamation District (DCURD)
DCURD is the utility district that created much of Las Colinas’ infrastructure, including its lakes and canals. DCURD maintains these elements and operates amenities such as Las Colinas’ Area Personal Transit system, which connects several office buildings in the Las Colinas Urban Center. The district comprises approximately 3,600 acres, including much of the Las Colinas Urban Center.
DCURD offers generous tax abatements on all new development. Abatement rates are standardized and obtainable through a simple application process. Abated tax rates for commercial development are fixed, but vary by year of application. Abatements for single-family development are negotiable, based on a targeted rate.
Las Colina Association
The Las Colinas Association is the permanent property owners association that serves Las Colinas. This non-profit organization works to preserve and enhance property values and the quality of life in Las Colinas by administering deed restrictions and providing services that include architectural review, common-property maintenance, community relations, alarm monitoring and security patrols.
Every owner of deed-restricted property in Las Colinas is a member of the Association. Members pay an annual assessment to fund the LCA’s services.
Foreign Trade Zone 39
Foreign Trade Zone No. 39 encompasses approximately 2,500 acres at Dallas/Fort Worth International Airport, including a 621-acre business park. Foreign trade zone designation allows companies to defer, reduce or eliminate U.S. Customs duties and reduce inventory and distribution costs.
The City of Irving offers additional benefits for new, expanding and relocating businesses that are within both FTZ 39 and the Irving city limits.
- Chapter 380 Inventory Tax Rebates. The City of Irving offers an inventory tax rebate for qualifying freeport-exempt companies. The City Council can pre-approve qualifying distribution centers—both existing and new—as “rebate eligible.” Qualifying companies moving to pre-approved centers may be authorized for inventory tax rebates by Irving’s mayor, greatly simplifying and expediting the process.The Coppell, Carrollton-Farmers Branch and Grapevine-Colleyville ISD, which serve sections of Irving, each offer freeport tax exemptions, creating a triple-freeport exemption. Within Irving ISD, a double-freeport exemption is possible.Freeport exemption applies to inventory that has been acquired in or imported into Texas and will be forwarded out of the state within 175 days.
- Chapter 380 Retail Sales Tax Rebates. The City of Irving offers a retail sales tax rebate for qualifying companies.
- Chapter 380 Infrastructure Cost Rebates. The City of Irving offers infrastructure cost rebates for qualifying companies
Irving Convention and Visitors Bureau
Qualifying companies may benefit from the Irving Convention and Visitors Bureau’s Business Development Incentive Program (BizDIP). The Bureau initiated this program to support the City of Irving’s efforts to recruit and retain companies that may positively impact hotel occupancy and visitor spending.
Dallas County uses incentives to support economic development, including:
- New construction or relocation
- Strategic investment
- Historic preservation
- Economically significant
Irving’s Economic Development Partnership assists companies with Dallas County’s abatement application and review process. The team works with the county to identify incentives the company is eligible for, then serves as advocate and liaison through the approval process.
State of Texas
Texas is widely considered one of the most business-friendly states in the U.S.—and its incentive programs are among the reasons why. Texas’ support for relocating businesses is generous, and includes:
- Texas Enterprise Fund
- Skills Development Fund
- Texas Emerging Technology Fund
- In-State Tuition
- Texas Workforce Commission Employee Recruitment