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.
What is the Ingleside Development Corporation?
The Ingleside Development Corporation, or IDC, was created in 2009. The 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. To learn more about the Ingleside Development Corporation, click here.