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News

Large Industrial Facility on Deep Water Port to Close
Dec 17, 2019
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it will permanently close its Point Comfort alumina refinery in Texas.
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Fowler Appointed Chairman of TEDC
Oct 18, 2019
VEDC President Dale Fowler will lead the state association of economic development professionals as Chairman of the Texas Economic Development Council's Board of Directors in 2020.
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Two Years after Fire, Diamond Fiberglass Rises from Ashes
Jul 02, 2019
The company is one of fewer than 10 companies in the U.S. and Canada that have an American Society of Mechanical Engineers Reinforced Thermoset Plastic Corrosion-Resistant Equipment Certification and they recently shipped two newly fabricated 21½-foot fiberglass containers from the Port of Victoria, confirming the local manufacturer has not only returned but surpassed previous production milestones.
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Triple Freeport Tax Exemption

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The City of Victoria, Victoria County, Victoria Independent School District, and Bloomington Independent School District all allow Freeport exemption on certain types of tangible personal property (i.e., inventory) from ad valorem (property) taxation provided the property is:

  • Acquired in or imported into Texas to be forwarded out of the state.
  • Detained in Texas for assembling, storing, manufacturing, processing, or fabricating purposes by the entity acquiring or importing it.
  • Transported out of state within 175 days after the date acquired or imported it into Texas.

Please contact VEDC to learn if your business can benefit from this program.

Local Office: 361-485-3190
Toll Free: 800-765-8198 

vedc@victoriaedc.com