The GEDC invests in projects that grow the economy and create jobs in Giddings, Texas. We are aggressively pro-business with a proven track record of helping businesses bring projects in on time and under budget. Click the map below to see the projects we have supported and how they have positively impacted our community.
Workforce Programs for Local Businesses
The Opportunity Zone Program was created through the Tax Cuts & Jobs Act of 2017, and is a federal initiative administered by the U.S. Department of Treasury. The program is designed to spur economic development and job creation in distressed communities throughout the United States. The program offers incentives, in the form of capital gains tax abatement, for those who invest eligible capital into Qualified Opportunity Zone assets. For more information, visit the U.S. Treasury Department’s website.
On March 22, 2018, Governor Greg Abbott submitted the state’s Opportunity Zone designations to the U.S. Treasury Department to encourage long-term investment in eligible Texas communities. Governor Abbott nominated 628 census tracts in 145 Texas counties as potential Opportunity Zones across the state's 5,265 census tracts.
To determine Opportunity Zones within Texas’ eligible tracts, a multi-step process was used to identify eligible areas in particular need due to chronic unemployment, lower population density and significant economic disruptors, such as natural disasters.
View a comprehensive map of Texas’ designated Opportunity Zones, or download the full PDF listing of designations.
Category: TX State Programs
More TX State Programs
The Governor’s University Research Initiative (GURI), enacted in 2015, is aimed at helping Texas public institutions of higher education recruit distinguished researchers from around the world to the State of Texas. The program seeks to bolster both the standing of Texas public colleges and universities and economic development efforts statewide.Learn More
he Product Development and Small Business Incubator Fund offers long-term, asset-backed loans to near-bankable businesses commercializing new or improved products and small businesses or entities which foster growth of small businesses. The program targets those businesses which may be unable to obtain full financing or financing on workable terms in traditional capital markets.Learn More