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Entergy Texas Team Cities Program

Newton, Texas is a participant in the Entergy Texas Team Cities Program. The following contacts and development incentives programs are from a brochure printed by this program.

Newton Texas Incentives

Texas Department of Economic Development
Texas Capital Fund Infrastructure Program

This program provides grants for the construction of first-time public infrastructure projects incidental to an incoming business or a business expansion. Eligible projects include water, sewer, streets, gas lines, drainage, treatment facilities, landfills, railroad spurs, traffic signals, dredging of harbors or channels, telecommunications and electric lines, and acquisition of real estate for infrastructure.

Texas Capital Fund Real Estate Development Program

This program provides funding to nonentitlement communities to construct, acquire, or rehabilitate real estate so that it may be leased to a company. Awards range from $50,000 to $500,000.

Texas Manufacturing Assistance Center (TMAC)

TMAC was designed to help Texas small manufacturing companies remain competitive in the ever changing global marketplace. The TMAC Center provides technical assistance at a discounted rate for process improvement, environmental regulations upgrades, changes in technology and the marketplace.

Workforce Development

Skills Development Fund

This is a new program designed for businesses and labor unions to form partnerships with Community Colleges and Technical Colleges to provide customized job training for employees. The Legislature appropriated $25 million for fiscal year 1996 and 1997.

Texas Department of Agriculture
Texas Agricultural Finance Authority (TAFA)

Provides financial assistance through loan guarantees for businesses that are engaged in innovative, diversified or value-added production, processing, marketing or exporting of an agricultural product. The program provides a guaranty of up to 90 percent of the production, processing, marketing or exporting of an agricultural product. The program provides a guaranty of up to 90 percent of the loan amount to an eligible lender. Funds may be used for working capital, equipment, real estate and/or improvements and inventory. Guaranties range from $30,000 to $5 million.

TAFA Linked Deposit

Provides low interest rate loans through approved lenders for individuals or businesses in Texas that process and market agricultural crops or livestock; produce alternative crops; produce alternative crops using water conservation equipment for ag production purposes. The funds may be used to purchase land, machinery, equipment, seed, fertilizer, plants, inventory or professional services. The low interest rates for production loans may be applied up to $250,000 and up to $500,000 for processing and marketing loans.

Rural Economic and Community Development Services
USDA Business and Industry Loans

The Business and Industry Loan program provides loans from $1 million to $10 million for business and industrial acquisitions; land purchase, machinery and equipment, construction, enlargement, or modernization; pollution control or abatement; working capital; and refinancing when necessary to save jobs. The project must be located in a city with less than 50,000 in population and priority is given to projects in cities of less than 25,000. There is no requirement the business be related to agriculture. Manufacturing, retail, wholesale and services are eligible.

Small Business Administration Finance Programs
SBA 504 Program

This program provides fixed asset financing at below-market fixed rates of interest. The loan may be used to acquire land, construct buildings, purchase land, buildings, machinery and equipment. The 504 loan is coordinated between the SBA and a private lender with the lender covering 50 percent of the project and the SBA 40 percent and the borrower 10 percent. The maximum participation by the SBA is $1 million.

SBA 7(a) Program

The 7(a) program guarantees commercial lending institutions up to 80% for loans under $100,000 and up to 75% for loans over this amount and up to $750,000. Funds can be used to finance working capital, fixed asset acquisition, including land, buildings and equipment.

SBA Low Doc Program

The Low Doc program was designed to simplify the SEA application process and shorten the processing time for smaller loans. To be eligible a business must have 100 or fewer employees; and annual sales for the past three years must be less than $5 million. The maximum loan amount is $100,000.

Local Government

The Local Government may issue taxable or tax-exempt bonds for industrial, commercial and manufacturing projects or expansion of existing plants. Other incentives may include Foreign Trade Zone and Southeast Texas Export Assistance Center.

The City of Newton Economic Development Corp. offers incentives using the 1/2 cent sales tax monies to meet the needs of existing and new businesses to achieve the goal of creating new jobs.

Economic Development Contacts

Newton Economic Development Corp.
Donnie Meek
Kaufman & North Streets
P. O. Box 889
Newton, Tx 75966
Ph (409) 379-5061
Fax (409) 379-5065
Newton County Chamber of Commerce
Ph (409) 379-5527
Fax (409) 379-2134
Email: ncoc@jas.net
County Judge's Office
Lon Sharver
Ph (409) 379-5691