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News

Nov 14, 2016
Robert Tully, Exxon Mobil's Gulf Coast Growth Venture Executive addressed members at the VEDC Annual meeting indicating the economic outlook for the petrochemical industry is strong and Victoria remains high on the list of sites being considered for a new multibillion-dollar petrochemical facility.
Jul 27, 2016
Exxon Mobil and SABIC, which have partnered for more than three decades in Saudi Arabia, are looking in Victoria as well as the Corpus Christi area, specifically San Patricio County, Exxon spokeswoman Margaret Ross said.

Texas Enterprise Zone

Both Victoria County and the City of Victoria have state designated Enterprise Zones. Businesses locating in an Enterprise zone may be eligible for both local and state benefits. To be eligible for state benefits, a business must be nominated by the appropriate governing body and designated by Texas Department of Economic Development as an enterprise project. To obtain benefits as a qualified business, the business must be active in the zone and at least 25% of the new positions must be occupied by persons that are residents of any zone within the governing body’s jurisdiction or economically disadvantaged as defined by state law.

Several financial incentives are available in Victoria for industrial and manufacturing firms considering a move to Victoria.

The County and City of Victoria each have a Texas Enterprise Zone. The County’s Enterprise Zone has an area of 17.6 square-miles, and the City’s Enterprise Zone has an area of 8.87-square miles. The State of Texas provides incentives for state-approved projects in the form of state tax credits, job training credits, and several other incentives. The VEDC is designated by the Victoria County Commissioners and the Victoria City Council to administer Victoria’s Enterprise Zones.