Economic Development

GROWING ANNA ECONOMY

Anna is somewhat unique in that it has two economic development corporations, the A and B type: Anna EDC (Economic Development Corporation) the A-type; and Anna CDC (Community Development Corporation), the B-type. Type A EDCs are typically created to fund industrial development projects such as business infrastructure, manufacturing and research and development. Type B CDCs can fund all the same projects eligible for Type A, as well as quality of life improvements such as parks.

Anna has created a balanced and sustainable tax base that invites high quality jobs, facilitates excellent quality of life with well-maintained and first-rate infrastructure, and offers a wide range of housing and public facilities that build community identity and pride and engage neighbors in meaningful ways.

The mission of the City of Anna Economic Development Corporation (EDC) is to identify and support opportunities that expand the city’s business tax base and promote job growth in Anna.

The mission of the City of Anna Community Development Corporation (CDC) is to identify and fund projects that enhance the quality of life in Anna and support the work of the EDC in the community.

ECONOMIC DEVELOPMENT SUMMARY

The City of Anna and its EDC/CDC consider candidates for economic development incentives on a case-by-case basis. The key criteria are: amount of capital investment, type of project, number of permanent jobs, wage levels, and added tax value. Those receiving incentives are required to enter into a performance agreement. 

It is the City of Anna's ultimate goal to provide transparency about economic development incentives and their intended purpose. Between fiscal years 2015-2020, the following incentives were granted: waiver of impact fees and permit fees; property tax rebates; TIRZ reimbursements; and economic development grant, infrastructure.  The charts below reflect activity over the last five years.

2015-2021Grants

In 2020 the City of Anna entered into 1 incentive grant agreement, 2 Chapter 380 grant agreements, and one agreement for a PID/TIRZ.

2015-2021 AmountIncentives


economic development incentive AGREEMENTS

The City has adopted an Economic Development Incentive Policy that can be found here as well as a Public Improvement District Policy that can be found here

Click here to view details about the following active economic incentive agreements. This dataset contains information on tax abatements (there are zero within the City of Anna) and Chapter 380 agreements. Each tab in the dataset contains items such as project names/goals, recipients, years granted, promised funding from city and actual funding from city.

Chapter 380 Agreements

Economic Development Grant Agreement

Public Improvement District Agreements / Tax Increment Reinvestment Zone Agreements

The City of Anna’s policy encourages new investment and business attraction through the utilization of grants authorized by Chapter 380.001 of the Texas Local Government Code, economic development grants and/or loans, fee reductions or waivers, triple freeport tax exemptions, infrastructure assistance, modification to development regulations or standards, property tax rebates or abatements as authorized by Chapter 312 of the Local Texas Local Government Code, public improvement districts as authorized by Chapter 372 of the Texas Local Government Code, and/or Tax Increment Reinvestment Zone as authorized by Chapter 311 of the Texas Tax Code. More information about these tools and related information pertaining to active agreements is outlined below:

  • Tax Increment Financing – According to Chapter 311 of the Texas Tax Code, the City may enter into economic development and infrastructure reimbursement agreements to pay for improvements within a zone to attract new development. A Tax Increment Reinvestment Zone is created when a TIF project begins. 
    • The City of Anna has two active TIRZs.
    • Number of jobs created/retained as of 9/30/2020: N/A
    • Total capital investment received for agreements as of 9/30/2020: $650,000,000
    • Total value of active incentive(s) granted: $8,006,129
  • Public Improvement Districts– In accordance with Texas Local Government Code Chapter 372, the City of Anna may create a public improvement district to finance the cost of qualified public improvements that confer a special benefit for a definable part of the city or its extraterritorial jurisdiction. 
    • The City of Anna has two active PIDs.
      • Number of jobs created/retained as of 9/30/2020: N/A
      • Total capital investment expected at buildout:  N/A
  • Chapter 380 Agreements- The City may enter into various agreements under Chapter 380 of the Texas Local Government Code to stimulate economic development.
    • The City of Anna has six active Chapter 380 Agreements.
      • Number of jobs created/retained as of 9/30/2020: 40
      • Total capital investment expected at buildout$303,500
      • Total value of active incentive(s) granted: $3,264,735 
  • Grants– The City, EDC or CDC may provide a tax grant in an effort to encourage new investment and reinvestment in the city and/or provide a foundation which business may locate and expand their operations. The amount and duration of the grant may vary based on a determination by the City Council and/or the EDC or CDC Board. 
    • The City of Anna has six active Chapter 380 Agreements.
      • Number of jobs created/retained as of 9/30/2020: 25
      • Total capital investment expected at buildout $300,000,000
      • Total value of active incentive(s) granted: $8,156,857 
  • Tax Abatements– According to Chapter 312 of the Texas Tax Code, tax abatements allow the City to designate tax reinvestment zones and negotiate tax abatement agreements with applicants. These abatement agreements authorize the appraisal districts to reduce the assessed value of the taxpayer’s property by a percentage specified in the agreement, and the taxpayer will pay taxes on the lower assessed value during the term of the agreement. 
    • The City of Anna has zero active tax abatements.
      • Number of tax abatements granted in FY 2020: 0 
      • Estimated taxes abated in year one of agreements as total and per capita amounts: $0
      • Estimated taxes abated for life of agreements: $0
      • Number of jobs created/retained as of 9/30/2020: 0
      • Total capital investment received for agreements as of 9/30/2020: $0
  • Fee Reductions / Waivers or Infrastructure Assistance – The City may reduce or waive fees or assist with infrastructure in order to spur development.
  • Loans – The EDC or CDC may enter into a loan agreement with applicable businesses as determined by the EDC or CDC Board.
  • Property/Sales Tax Rebates- The City and/or EDC and CDC may enter into an agreement to rebate property and/or sales taxes based on the scope of the project.
  • Triple Freeport Exemption – The City of Anna, Anna Independent School District, and Collin County offer a business personal property tax exemption on inventory that is held within the State of Texas for 175 days or less from the date they were manufactured in, acquired in or transported into the State. Freeport Exemption Application forms must be submitted no later than April 30 of each year to the Central Appraisal District of Collin County.

aDDITIONAL INFORMATION

For more information on Economic Development in Anna, visit the Economic Development Corporation/Community Development Corporation Website.

The Texas Comptroller Economic Development Search Tool allows users to view the Anna CDC and Anna EDC financial reports submitted to the State of Texas.

GASB Statement No. 77 Tax Abatement Disclosure provides guidance regarding the disclosure of taxes forgone in governmental financial statements.