Incentives

McKinney Economic Development Corporation uses its sales tax funds to assist qualifying companies with relocations, expansions, infrastructure or site development needs.  MEDC can also provide relocation and/or job training assistance as well as loans and grants.  Additional areas of assistance will be considered. All incentives are subject to approval by the Board of Directors of MEDC.

The overall incentive package is determined by one or more of the following criteria:

  • the number of jobs created
  • the average wage of those new jobs and the gross annual payroll generated
  • capital investment
  • the amount of new taxes generated by the project
  • the environmental sustainability of a project
     

Tax Abatement 

On a case-by-case basis, the city will consider providing tax abatement for developments which meet the overall goals and objectives of the City.

Triple Freeport “Inventory” Tax Exemption

The City of McKinney, McKinney School District and Collin County offers an inventory tax exemption on personal property including goods, wares and merchandise.  To be eligible, the property must be shipped out of the state within 175 days; however, it can be assembled, stored, manufactured, processed or fabricated locally.

McKinney is one of a few Dallas Metroplex communities where all three property taxing jurisdictions offer this benefit.

Emerging Technology Program

MEDC offers incentives to high tech start-up companies that are in the process of growing. Each awarded company must demonstrate that its technology fits MEDC’s technology targets and that it has intellectual property ownership, angel investors and the financial ability to execute a commercial lease.

If MEDC Board approves the project for the MEDC’s Virtual Business Incubator (VBI), real estate rental cost assistance can be awarded to the company for up to one year with a maximum of $50,000 per company. The Emerging Technology fund for incentives is limited. Incentives are awarded on a first-come, first-served basis.

Enterprise Zone

McKinney designated Enterprise Zone is located east of SH-75 and includes business parks and the Collin County Regional Airport.  Qualifying companies located within the Zone can make application for state tax incentives.

State of Texas Incentives

The State of Texas offers various incentives to qualifying businesses including:

  • The Emerging Technology Fund (ETF)
  • Texas Enterprise Fund
  • Loan Assistance
  • Training Assistance
  • Enterprise Zone Program
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