Non-profit donation could become part of SEDCO agreements

15 Jul 2023

News and Media

7/15/2023 (Michael Hutchins, Herald Democrat)

For many years, the Sherman Economic Development Corp. has helped many businesses establish a foothold in the community. Now, the city’s economic development arm is asking companies to give back to that same community.

SEDCO officials are considering new language and clauses to future incentive agreements that would require businesses to contribute to local non-profits and charitable causes in order to receive incentives.

“There will be a requirement that if a company comes to SEDCO for incentives that … it will be required to make a contribution to a non-profit located in Sherman equal to one percent of that total value,” SEDCO President Kent Sharp said.

The move by SEDCO has been in planning for more than a year, Sharp said. While many members of the Sherman business community already contribute to charitable causes, Sharp said he wanted to codify this as a part of the agreements moving forward.

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