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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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Tax Abatement

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The City and County of Victoria have established guidelines for the creation of reinvestment zones and granting tax abatements. Manufacturing, research or regional service facilities, distribution centers and other basic industries are eligible to apply. Economic qualifications include an increase to the appraised value of the property equal to or in excess of $500,000. In addition, the company must add a minimum of ten full-time positions.  Abatements are granted for up to eight years.

Download Tax Abatement Guidelines PDF

Please contact VEDC at vedc@victoriaedc.com or telephone 800-765-8198 or 361-485-3190 to learn if your business can benefit from this program.