The Town of Addison focuses on efforts to stimulate and grow the local economy by promoting and retaining high quality development to improve the quality of life for its citizens. Economic incentives may be granted on a case by case basis to encourage positive development and redevelopment within the community. Incentives may also be provided to promote employment opportunities and capital investments that will have a positive impact on the strategic economic development of the community. The ultimate goal and public purpose of economic development programs is to protect and enhance the Town’s fiscal ability to provide high-quality municipal services for the safety, comfort, and enjoyment of its residents.
|Number of tax abatements granted in FY21||0|
|Number of tax abatement agreements in effect during FY21||0|
|Estimated taxes abated in year one of active agreements||$318,650|
|Estimated taxes abated in year one of active agreements per capita||$19.53|
|Estimated taxes abated for the life of active agreements||$1,752,395|
|Number of jobs created/retained by active agreements to date||1,576|
|Total capital investment received for active agreements to date||$112,460,000|
Details about the Town of Addison’s incentive agreements such as agreement types, recipients, and estimated value of incentives are summarized in spreadsheet format below:
Town of Addison Economic Development Incentives FY 2021
380 and 381 Contracts:
- Village On The Parkway
- Marriott Hotel Addison
- Maxim Integrated
- R18-039 Spacee
- R18-011 Boston Pizza
- Tyton Holdings
Government Reports and Guidelines for the Town of Addison:
- Town of Addison Tax Abatement Guidelines and Criteria
- Town of Addison Incentives Program Glance
- Governmental Accounting Standards Board (GASB) Statement No. 77 provides guidelines for reporting on tax abatements. Click here to view the Summary or the Entire Statement.
- Information in the Town’s FY21 Comprehensive Annual Financial Report regarding tax abatements is provided in note IV of page 72 click here.
- To view reports filed by local governments, please visit the Texas State Comptroller’s Economic Development Corporation Report search tool click here.