Economic Development means different things to different people. Here are answers to some frequently asked questions about Economic Development.
What Is Economic Development?
Economic Development usually takes three forms:
- Business Attraction
- Business Retention and Expansion
- Business Creation
All three of the forms seek to create primary jobs that pay more than the average wage, increase the amount of income coming into the community from outside our market area, and create greater capital investment in our community. The goal is to attract a diverse group of industries and businesses to help insulate the community from economic shock in case specific sectors should fall on challenges.
The City of Ingleside’s Economic Development Department’s purpose is to synergize and coordinate the Economic Development activities and programs aimed at the City of Ingleside specifically and in a targeted manner.
Why Does The City Of Ingleside Focus On Primary Jobs?
The City’s Economic Development Department is funded through a grant from the Ingleside Development Corporation – the folks who oversee the monies collected through the 4B Sales Tax. This tax was designed to bring higher paying primary jobs and industries into communities and has very specific rules and guidelines for it’s usage and applications. We are governed by the guidelines found in the State of Texas Attorney General’s Handbook on Economic Development and we must adhere to Article 5190.6, Development Corporation Act of 1979.
Ingleside Development Corporation
Ingleside Development Corporation, or IDC, is a group comprised of seven Board members appointed by the Ingleside City Council, who oversee the 4B sales tax proceeds brought in to the City. The group consists of a variety of businesspeople and Council members who review expenditures and revenues of the tax dollars.
In early 2009 the Board elected to fund a grant to the City of Ingleside for the creation of a full-time City department for economic development. In February of 2009, a director was hired on a two-year budget and charged with creating the department and bringing new business to Ingleside.
Very stringent rules and regulations govern the usage of these tax monies, and only “projects” approved by the body, along with the City Council, can be funded with 4B dollars. The main goal, as defined by the State Attorney General, is the creation of “primary jobs”. Allowable projects under 4B that require creation of primary jobs include:
- Manufacturing and Industrial Facilities
- Research & Development Facilities
- Military Facilities
- Transportation Facilities (airports, hangars, ports, parking facilities)
- Sewage & Solid Waste Facilities
- Recycling Facilities
- Air or Water Pollution Control Facilities
- Distribution Centers
- Small Warehouse Facilities
- Primary Job Training Facilities for Use By Higher Education Institutions
- Regional or National Corporate Headquarters Facilities
Additionally, 4B Corporations may provide land, buildings, equipment, facilities and improvements found by the Board to promote or develop new or expanded business enterprises that create or retain primary jobs, including:
- Public Safety Facilities
- Streets and Roads
- Drainage and Related Improvements
- Demolition of Existing Structures
- General Municipally Owned Improvements
Those endeavors not required to create primary jobs include:
- Job Training Classes
- Infrastructural Improvements That Promote or Develop New or Expanded Business Enterprises
- Career Centers
- Commuter Rail, Light Rail, or Motor Buses
- Professional or Amateur Sports and Athletic Facilities
- Entertainment, Tourist, and Convention Facilities
- Public Parks and Related Open Space Improvements
- Affordable Housing
- Water Supply Facilities
- Water Conservation Programs
- Airport Facilities
- Port-Related Facilities
The City wishes to extend it’s thanks to all the volunteers who work tirelessly on behalf of the City, and for the extraordinary civic pride that fuels their efforts. The Ingleside Development Corporation is a vital body in the administration of taxpayer monies.