Application for Financial Assistance
About this Form
The mission of the Sherman Economic Development Corporation (SEDCO) is to grow and diversify the economy of Sherman and the surrounding area through the addition of new jobs and investment of primary employers. Since 1996, SEDCO has focused on a mission and strategy to grow the primary employment sector — those companies with statewide, national and global markets. SEDCO is supported by a local 3/8 cent sales tax. The funds provide the resources for SEDCO to market the community, provide cash incentives for new investments and jobs and develop business park sites for industry. SEDCO is governed by a five-member Board of Directors appointed by the City Council of Sherman. SEDCO Board of Directors and Sherman City Council annually adopt a new Plan of Work for SEDCO to guide the development, re-development and community enhancement in Sherman and the surrounding area.
Type A Eligible Projects
Land, buildings, equipment, facilities, expenditures, targeted infrastructure, and improvements that are for the creation and retention of primary jobs and found by the SEDCO Board of Directors to be required or suitable for the creation or retention of primary jobs and the development, retention or expansion of the following types of projects: manufacturing, industrial, research and development, recycling, small warehouses, distribution centers, regional or national corporate headquarters, closed or realigned military bases, and primary job training facilities by higher education institutions. Some examples include:
- Job training classes and career centers
- Business airport facilities and port-related facilities
- Clean-up of contaminated project sites (with a special election and specific ballot language)
- Infrastructure assistance to retail or commercial projects
- Business-related sewer utilities and site improvements
- Projects designed to attract new military missions, prevent the closure of existing missions, and redevelop a closed or realigned military base
- Light rail, commuter rail, or motor buses
- Type B projects with voter approval
In addition to local incentives, SEDCO may provide supportive assistance in identifying and applying for both State and Federal incentives to ensure each project receives its maximum potential of assistance. Additionally, SEDCO may limit those projects acceptable under State Law further as a matter of policy.
SEDCO accepts requests for incentives and assistance regardless of race, color, age, religion, disability, sex, or national origin.
Complete this form if you would like to make a formal request for incentives and assistance:
Thank you for your interest in Sherman. Applications for incentive or assistance from SEDCO must be approved by the SEDCO Board of Directors in an open meeting. All incentives or assistance must be contractually tied to certain performance criteria on the part of the requesting entity under Texas law. Before a project may be considered and awarded any funds, the following application must be completed and submitted to the SEDCO office.
An application does not guarantee an incentive grant or assistance of any kind.
Where no response is possible, it should be marked N/A. Draft or incomplete applications will not be accepted.
SEDCO may request additional information.
No Guaranty of Confidentiality
SEDCO’s deliberations with respect to submitted applications and the information contained in such applications are generally excepted from the texas open meetings act and/or the Texas Public Information Act; but information provided on the application may be subject to release to the public pursuant to the texas public information act. While SEDCO will endeavor to use reasonable efforts to maintain the confidentiality of applicant’s information during the negotiation phase, SEDCO is not and shall not be liable for any disclosure of applicant’s information at any time; and SEDCO does not guaranty that the information in this application will remain confidential. Applicant hereby agrees to release SEDCO and to indemnify and hold SEDCO harmless from any and all claims of whatsoever nature arising from or relating to the release of any of applicant’s information during or after the deliberation process.
If the application is approved, all the applicant’s information will then be subject to public disclosure under the Texas Public Information Act.