The Palacios Economic Development Corporation (PEDC) is the economic development arm of the City of Palacios. The PEDC is committed to the promotion and retention of quality development within the City of Palacios and improving the quality of life for its citizens. The corporation provides incentives on a case-by-case basis to stimulate economic growth. Incentives and grants will be considered for both new and existing businesses. Nothing herein shall imply or suggest that the PEDC is under any obligation to provide any business incentives to any applicant.
The source of funds for the grants that are made from the Palacios Economic Development Corporation is authorized under the State of Texas laws which apply to communities which have a 4B sales tax such as Palacios.
Projects related to business development include land, buildings, equipment, facilities, expenditures, targeted infrastructure, and improvements to promote new or expanded business development. (Sec. 505.158)
Businesses located within the City of Palacios, Texas or within the Extra Territorial Jurisdiction (ETJ) of Palacios will be considered to be eligible for this program.
Matching grant amounts will be awarded for 50% of the total estimated cost of the improvements with the maximum amount of a grant is not to exceed $10,000 for any one project. There are limited available resources within the budget constraints of the PEDC. Only one application can be made per company per year. Projects must be completed within one year of approved application in order to receive approved grant funds. All receipts associated with the grant must also be submitted within one year of approved application.