Summary
The primary purpose of the Economic Development Incentive Fund (EDIF) is to make funds available, in accordance with Chapter 380 of the Local Government Code, for financial incentives in the form of economic development grants and/or loans to companies seeking to create or retain jobs and invest in San Antonio.
In accordance with Chapter 380, San Antonio offers financial incentives in the form of economic develop grants and/or loans to companies seeking to create or retain jobs and invest in San Antonio. Grants range between $1,000-$2,500 per new position depending on Minimum annual Wage Rate and must meet all eligibility requirements as described below.
Applicant’s primary business is in one of the defined Target Industries; and
100% of all employees at the Project Site must be paid at least the median income annual rate of $53,400.00 or $25.67 per hour;
At least 90% of all Employees earn at least 150% of the median annual rate of $80,100.00 or $38.50 per hour (the “Minimum Annual Wage Rate”;
All new full-time jobs must be filled and maintained for a minimum of three (3) years in order to qualify for grand disbursement; and
Offers worker’s compensation, as well as a Health Benefits Package to all Full-Time persons employed at the Project Site and their Eligible Dependents.
Additional terms and conditions may apply.