Page 40 - Bi-National Socioeconomic Handbook 2020 Laredos Region

INVESTMENT

INCENTIVES

Laredos Region

Incentivos del Gobierno Municipal de Nuevo Laredo y More than 5
Estado de Tamaulipas 151 to 200 jobs millions up to $10 75% 5 years
• Land: Cession for construction of industrial buildings. millions of dollars
More than $10
• Water Consumption: Special rates available. More than 200 millions of dollars 100% 5 years
jobs
• Procedure or registration of new companies: Subsidy up
to 90% in the payment of fees. In case where:
• Municipal procedures: Reduction of fees in municipal 1. The required additional investment exceeds $10 million
procedures of at least 50%. and the above number of jobs is not expected to be met
• Warehouses at affordable prices: 75% to 80% of the within the first year of occupancy; or
market price. 2. This is a Hospitality, Tourism, and Retail development
• Payroll tax: Subsidy up to 90% of the 3% payroll tax. where City Council determined that project will make
• Training: Scholarships from 1 Minimum Wage in Force up a unique or unequal contribution to the economy;
to 3 Minimum Wage in force up to 90 days. an abatement may be allowed utilizing the following
criteria, if jobs and Added Value are met
Investment incentives in Laredo, Texas Living Wage Requirement

Type of Industries In order to count as a permanent full-time job under this
In keeping with the broad based approach to economic tax abatement program, the job should pay employees
development, agreements will not be restricted to any wages at a minimum level which is equal to two dollars
particular type of industry. Preference will, however, be ($2.00) above the U.S. minimum wage in effect at the
given to manufacturing and any other type of industry time of the agreement. Additional compensation, such as
which provides relatively higher wages. commissions and mileage, will be taken into consideration
and will be included in the wages. However, overtime will
Hospitality (Hotel, motels, inns, or such businesses that not be considered.
provides transitional or short-term lodging), Tourism
(businesses that are involved in catering to pleasure travel) Incentives may also include:
and Retail (businesses that sell consumers goods and/or • Permit Fee Waivers from City of Laredo
services to earn a profit.) will only be considered if City • Expedited Permitting
Council determines that project will make a unique or • Neighborhood Empowerment Zones
unequalled contribution to the economy and project is In addition, workforce incentive programs are available
expected to have at least $10 million in Added Value to real through various local workforce programs that provide
property and 10 New Permanent full-time jobs. initiatives such as customized training, grants, and employer

tax incentives.
New Permanent Added value in Percent of Term
Full Time Jobs real property Abatement For complete details, go to:
$1 million up to http://www.laredoedc.org/site-selection/incentives
50to 100 jobs $2.5 millions of 25% 5 years
dollars
More than $2.5
101 to 150 jobs millions up to $5 50% 5 years
millions of dóllars

26 | Institute for Competitiveness and Foreign Trade of Nuevo Laredo