Which of the following are commonly used tools to promote economic development in cities?

Which of the following are commonly used tools to promote economic development in cities?

Glenn Hegar

Texas Comptroller of Public Accounts

Which of the following are commonly used tools to promote economic development in cities?

Glenn Hegar

Texas Comptroller of Public Accounts

The State of Texas provides a number of local economic Development programs for Texas communities. The Data Analysis and Transparency Division (DAT) provides detailed information about these programs, serving as a turnkey information source for improving government efficiency and achieving economic growth. We specialize in subjects including:

  • tax programs and incentive support;
  • job creation initiatives;
  • economic impact analysis;
  • financial transparency;
  • limiting financial exposure and;
  • budgeting efficiencies.

Stimulus Programs

Governor’s Emergency Education Relief Fund (GEER)

Program Name: Governor’s Emergency Education Relief Fund (GEER) Description: The GEER II includes allowable uses of funds related to preventing, preparing for and responding to COVID-19. Governors may provide subgrants to local education agencies (LEAs) and institutions of higher education (IHEs) within their jurisdictions that have been “most significantly impacted by coronavirus” to support their ability to continue providing educational services to their students and to support the “on-going functionality” of these entities. In addition, a governor may use these funds to provide support through a subgrant or a contract to other LEAs, IHEs and education-related entities that the governor “deems essential” for carrying out emergency educational services; providing child care and early childhood education; providing social and emotional support and protecting education-related jobs. Agency Administering Program: U.S. Department of Education Eligible Government Entity: States (governor’s offices) Eligibility Criteria: Awarded to each state with an approved GEER application under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020. Grant or Loan: Formula grant Funds Available: To be awarded based on a formula stipulated in the legislation: (1) 60 percent on the basis of the state’s relative population of individuals ages 5-24; and (2) 40 percent on the basis of the state’s relative number of children counted under Section 1124(c) of the Elementary and Secondary Education Act of 1965 (ESEA). Amount of Funds Available for Texas (cumulative):
  • Total Section 312 Allocation (GEER Fund): $287,499,442
  • Section 312(b) Supplemental Allocation (GEER II): $134,331,197
  • Section 312(d) Allocation Emergency Assistance for Non-Public Schools (EANS): $153,168,245
  • Maximum Reservation of EANS Funds for Administration: $765,841
Deadline(s): Will be awarded to each state with an approved Governor’s Emergency Education Relief (GEER) application under the CARES Act. Each state must submit the signed Certification and Agreement for Funding by Feb. 8, 2021. How to Apply: The Governor will determine the criteria and process to apply for/award the funds. For More Information:

Economic Development Webinars

These videos are to be used for informational purposes only. Continuing education (CE) credit for these topics will be available only for live events and participation.

Chapter 312 Tax Abatements and Reinvestment Zones This presentation reviews:
  • The required steps for creating a reinvestment zone before an abatement is approved
  • The criteria for creating a reinvestment zone
  • The purpose of an abatement: how it should work and what forms must be submitted
Chapter 311 Tax Increment Reinvestment Zones (TIRZs) This webinar discusses:
  • Tax increment financing (TIF) as an economic development tool local governments can use to pay for improvements that will draw private investment to their areas
  • How TIF differs from abatements
  • How TIF redirects a portion of future ad valorem taxes within a defined geographic area
  • The criteria and steps for creating a TIRZ
  • Potential financing options for proposed public project improvements
  • Forms that must be submitted
Municipal Development Districts (MDDs) and Economic Development Corporations (EDCs) The Development Corporation Act of 1979 enables communities to finance new and expanded business enterprises through economic development corporations (EDCs). The presentation outlines:
  • The characteristics of Type A and Type B EDCs
  • How cities are authorized to adopt a sales tax to fund the corporations
  • Projects EDCs are allowed to undertake
  • How cities may hold an election to create an MDD, adopt a sales tax to fund it and use those funds for projects like convention centers, civic centers and auditoriums
Local & State Hotel Occupancy Tax (HOT) Programs This webinar presentation discusses:
  • How the local hotel occupancy tax promotes tourism and the convention and hotel industry
  • Who must charge this tax and how to implement it
  • What exemptions exist
  • How the tax is remitted and how revenue from this tax is to be used
Chapter 313 Value Limitation Agreements A Chapter 313 agreement is an appraised value limitation agreement with a taxpayer who agrees to build or install property and create jobs in exchange for a 10-year limitation on the taxable property value for school district maintenance and operations (M&O) tax purposes. The presentation provides a high-level overview. Public Improvement Districts (PIDs) This brief presentation discusses how a PID is a legal mechanism for property owners in a defined geographic area to jointly plan and establish a sustainable funding source that can pay for service to improve their area.

Need Help?

For additional information, contact the Data Analysis and Transparency Division via email or at 844-519-5672, ext. 6-9231.

Which of the following are commonly used tools to promote economic development in cities?

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Which of the following are commonly used tools to promote economic development in cities?

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Oklahoma City has several impactful economic tools to facilitate and encourage economic development. These tools include the strategic investment program, the urban renewal authority, tax increment finance districts, the retail incentive policy and Oklahoma City opportunity zones. Developers interested in utilizing these economic tools can contact the Alliance to learn more.

The Alliance for Economic Development of Oklahoma City was formed in 2011 to better coordinate land, incentives and economic tools that make Oklahoma City even more attractive to companies and developers. This includes the coordination, management, planning and/or implementation of:

  • The city’s general obligation limited tax bond program

  • Tax increment financing districts

  • The city’s retail strategy and incentives

  • City and urban renewal redevelopment programs

  • Identification and development of job creation sites

  • Public-private redevelopment opportunities

Community Economic Recovery & Resiliency Study


Which of the following are commonly used tools to promote economic development in cities?

The GE Global Research Oil & Gas Technology Center, designed to advance technology in these industries, selected Oklahoma City over several other large cities in the region heavily involved in the oil and gas industry. A large factor in the selection was an economic incentive package that included SIP. 

When the company opened its doors in 2016, it had already invested more than $100 million in the building, equipment and startup costs. Long-term it is estimated to generate $13 million annually in economic impact. 

The Strategic Investment Program is a job-creation incentive program to help recruit jobs and employers. The program helps bring high-quality, high-paying jobs to Oklahoma City, while keeping companies accountable for their performance. 

To qualify:

  • Companies must locate in Oklahoma City

  • Create at least 50 full-time jobs with a new total payroll of at least $1.75 million annually.

  • Average wages for the jobs must meet or exceed the average wage of the Oklahoma City Metropolitan Statistical Area.

  • Firms locating or expanding within an enterprise zone will be given consideration if they pay within 20% of the MSA wages.

  • Employers must also pay at least half the cost of employee health care benefits.

The application process is initiated through the Greater Oklahoma City Chamber of Commerce. 

Funds are allocated on a pay-for-performance basis and are not released until companies prove they have fulfilled job creation requirements. 

Which of the following are commonly used tools to promote economic development in cities?

The Oklahoma City Urban Renewal Authority is the leading public redevelopment agency of Oklahoma City. It is empowered through state law with certain financial resources and legal mechanisms.

Urban Renewal is charged with the revitalization of the city's urban neighborhoods and the enhancement of its quality of life. The organization is governed by a board of commissioners nominated by the mayor and confirmed by the city council.  Its day-to-day management is contracted to the Alliance for Economic Development of Oklahoma City.

For more information, visit ocura-ok.org.

Once a thriving community center, Page Woodson was a segregated school for black students in the 1960s. For the past two decades, the building sat abandoned and neglected. Through OCURA and other economic tools, the school is being revitalized into affordable housing and community performance center.

Tax increment financing districts are an economic tool to promote development in blighted, underserved, or economically distressed urban areas. TIF helps fund new economic growth that will attract new investors, consumers and employers into the area.

TIF monies can be allocated in two ways:

  • The city can construct public improvements (parking, infrastructure, streetscape, and/or landscaping improvements) on publicly owned land or easements

  • The developer, or redeveloper, can receive an allocation of TIF revenues to fund eligible TIF project costs in the form of “assistance in development financing” upon meeting conditions to the allocation

For more information, contact Joanna McSpadden, the City’s Economic Development Program Manager at  or (405) 297-3879 or Leana Dozier, Director of Policy, Planning and Partnerships, at or (405)604-6780.




Devon World Headquarters Tax Increment District 

Northeast Renaissance Tax Increment District

First National Tax Increment District

Innovation District 

Western Gateway

Core to Shore


First Americans Museum


Oklahoma Health Center Tax Increment District


Downtown/MAPS Increment District


Skirvin Hotel Tax Increment District


Oklahoma Riverfront Tax Increment District


Oklahoma Riverfront Sales Tax Increment District


Las Rosas Residential Tax Increment District

Oklahoma Bioscience Tax Increment District

Which of the following are commonly used tools to promote economic development in cities?

Oklahoma City is heavily dependent on sales tax to fund core city services. The retail incentive policy promotes the development of regional retail establishments, such as outlet malls along with new to market retailers. In addition, the city policy allows for retail businesses that will serve under served areas. 

For more information contact Tammy Fate with the Greater Oklahoma City Chamber of Commerce at 405 297-8958 or .

Whole Foods

Oklahoma City’s strong retail market, low cost of living and its demand for healthy grocery options was a recipe for success. Within the first year of opening, Whole Foods expanded its retail space in order to meet the growing demands of its customers. 

Which of the following are commonly used tools to promote economic development in cities?

What are Opportunity Zones?

In December 2017, a federal bill, also known as the Tax Cuts and Jobs Act of 2017, was passed creating an incredible tax break for investors through a new program known as Opportunity Zones. Investors will be allowed to defer their capital gain taxes, as well as permanently excluding taxable income of capital gains from the sale or exchange of an investment in an Opportunity Fund.

Its purpose is to provide tax incentives, as well as temporary tax deferral on capital gains, when investors reinvest these gains in Opportunity Zone funds. In return, this money is used for qualifying census tract communities, also known as Opportunity Zones. If these gains are kept in opportunity funds for more than 10 years, taxes will essentially be eliminated on any additional capital gains.

This bill allowed for the government to pin-point census tract locations that qualify to be Opportunity Zones.  There are 8 Opportunity Zones located in Oklahoma City.

Why invest in Oklahoma City Opportunity Zones?

A combination of $2 billion in public investments in quality of life projects, combined with infrastructure investments of $2.4 billion and private investments of another $6 billion make this one of America’s most dynamic and fascinating communities.  The list of reasons you should invest in Oklahoma City is growing - almost as quickly as the list of reasons why people love living here.  In Oklahoma City, we understand that partnership among business, government, EDOs and civic leaders is integral to our success. Let us introduce you to Oklahoma City: a city that has rediscovered its strengths - and redefined itself for the future; and to the economic development partnership that is here to help you create success.  For more information:

Oklahoma City Investment Prospectus

Oklahoma Opportunity Zones Website