There will be no new Travis County economic incentive packages offered to companies wanting to move to the area. County Judge Sarah Eckhardt said this won’t impact any current agreements the county has made but will not no longer be able to do these types of deals moving forward.
These kinds of deals have helped lure huge Fortune 500 companies to the area over the years. County leaders say new property tax revenue limits have forced them to look for new funding sources. The county also wants to begin incentivizing smaller companies, too.
All new incentive deals will be suspended until new revenue streams can be found. The county also wants to eye deals to lure smaller companies to the area.
The moratorium is only temporary until a new revenue source can be found since new limits on property tax growth have limited spending priorities.
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