Local Incentives

Sherman aims to be aggressive and creative in the incentives process to tailor a comprehensive agreement supporting the specific business growth goals of your project. We encourage a dialogue with company representatives to craft a mutually accepted program of business support.

 

Policy Position:

Any consideration of financial or other incentives for businesses to expand or locate in the Sherman area will be evaluated and based on the cost and benefits to Sherman. The impact will be based directly on the number of jobs created, wages paid, local purchase of products and services, indirect employment gains and the general benefit of furthering the mission of the Sherman Economic Development Corporation (SEDCO).

 

SEDCO Grants:

SEDCO is a (type A) sales tax funded, state chartered, non-profit corporation. SEDCO offers cash grants to qualifying companies for expansion and relocation projects.  See application form below.

 

Property Tax Abatement:

The City of Sherman and Grayson County will consider an agreement that exempts all or part of the increase in the value of the property and/or tangible personal property from taxation for a period not to exceed 10 years.

 

Chapter 380 and 381 Agreements:

The City of Sherman and Grayson County will consider entering into 380 (City) or 381 (County) agreements with qualifying companies that are tailored to company needs and offer a range of incentives designed to promote local economic development.

 

Freeport Tax Exemption:

The City of Sherman, Grayson County, Grayson County College and the Sherman Independent School District have adopted the Freeport exemption that eliminates property tax on inventory for qualifying goods shipped within and out of state within 175 days.

 

Foreign Trade Zone:

Businesses in Sherman and Grayson County are eligible to participate in the use of  Foreign Trade Zone #39 sponsored by the Dallas-Fort Worth International Airport. They can utilize the Alternate Site management framework, which allows an expedited process for approving new "Usage Driven" foreign trade zone locations. Economic benefits include customs duty referral on imports and duty elimination for imports that are re-exported.

 

SEDCO Incentives Application:

Sherman Economic Development Corporation Incentives Application

Notice: Submittal of this application does not imply the approval of any incentives from Sherman Economic Development Corporation (SEDCO). Any incentives must be considered and approved by the SEDCO Board of Directors in a public meeting. We encourage you to provide conservative estimates.

1. Company Information

b. Authorized signatory for company contracts:

h. What is the expected start and completion date for this project:

2. Investment Information

a. Company's proposed investment in taxable assets at its facility for this project:

Year 1
$
$
$
Year 2
$
$
$
Year 3
$
$
$
Year 4
$
$
$

c. If new building construction, estimate construction period:

d. Estimated Construction Costs
$
$
$
3. Utility Information
a. Projected monthly water usage:
gal
cu. ft.
b. Projected monthly wastewater discharge:
gal
cu. ft.
KWh
4. Projected Jobs
a. If a local expansion...
The date "as of" for your current job base.
b. Number of full-time equivalent jobs created at the Sherman location:
Total Year 1
Total Year 2
Total Year 3
Total Year 4
5. Projected Wages
$
$
$
$
6. Benefits

a. Offered coverage for:

7. Additional Information
8. For Start-Up/Small Business Applications
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