Finance and Incentives

The Benbrook Economic Development Corporation (BEDC), the City of Benbrook, and the State of Texas offer a variety of incentives to assist qualifying new and expanding businesses:

HALF CENT SALES TAX AND INFRASTRUCTURE ASSISTANCE


In 1995, City of Benbrook voters approved the adoption of a half-cent economic development sales tax (Type B) to fund projects to increase economic activity with the City. The BEDC may pay for land, buildings, equipment, facilities, targeted infrastructure and improvements, or other projects that the BEDC board of directors believes will expand business enterprise within the community.
  
 
The Storefront Improvement Program is a 50% matching grant to assist in exterior beautification for qualified businesses. 
 
The City of Benbrook can assist with new and redeveloping businesses by reducing or waiving building and application permit fees, on a case-by-case basis, as a financial incentive. 
 

FREEPORT EXEMPTION


Companies in Benbrook that ship certain products out of Texas within 175 days can obtain a reduction in taxes by using the Freeport exemption. Companies in Benbrook are eligible for a double Freeport exemption from Tarrant County and the Fort Worth ISD. The City currently does not offer a Freeport exemption. 
 

TAX INCREMENT FINANCING


Tax Increment Financing (TIF) is a tool that Benbrook can use to finance infrastructure improvements within a defined area. In areas designated as TIF districts, tax-base increased revenue from the “captured” tax base in the District is used to finance site improvements or other economic development costs.

The City of Benbrook has designated Tax Increment Finance Reinvestment Zone No. 1. The TIF Board serves as an advisory body to the City Council on projects to be included in the TIF Project Plan and makes recommendations on TIF financial matters. The TIF District will expire in November 2022 unless extended by the City Council.