The A-Fund Sales Tax has incentivized new companies to locate here, existing companies to expand here, helped train our residents for the jobs that are here right now, and helped small businesses grow. Type A Funds are the only dedicated economic development funds available in our community.
These funds have created 644 new jobs and retained 1,304 existing jobs while increasing the investment in our tax base by $109,659,857. This represents an annual increase of $664,538 in property tax to the City. This number does not include those projects that have not reached completion yet. This number does not include the additional property taxes collected by the Nueces County, the Hospital District and the school districts where these projects are located. The return on investment measured by the amount of increase in tax revenues divided by the amount of Type A Funding is 73.5% over a ten year period. In other words, every $1 of Type A Funds granted resulted in $0.73 in new tax revenue.
Type A Fund grants have helped over 300 small businesses with the Del Mar College and the Texas A&M University – Corpus Christi Internship, Del Mar College FasTrac©, Accion Texas Loan Buy-Down, and the SCORE small businesses support programs.
Funds have been granted to 12 large projects including Schlitterbahn, M&G Resins and CMC Recycling.