Groesbeck Economic Development
Chartered in 1997 by the Mayor and City Council to Support Business Growth
Established as a separate but integral arm of the City. Our purpose is to strategically invest sales tax revenue back into the community in ways that help create long-term business growth via primary job creation, retention and meaningful expansion of the sales tax base.
Funded by .5% of Sales Tax Revenue collected within Groesbeck City Limits
Each time a sales taxable transaction occurs in Groesbeck, 8.25% is added and collected by the State Comptroller. The City is re-disbursed 2% to split between economic development, road repair and general revenue. Of that 2%, one-half of a percent (.5%) is used to fund the economic development program.
Regulated by Texas State Law
Groesbeck EDC is a "Type B" economic development corporation. All Type-B's and regulated by the Texas state laws found in Section 501 & 505. Those statues spell out authorized projects, eligible expenditures as well as governing procedures.
Governed by Local Leadership
The Board is comprised of the City Mayor, Mayor Pro-Tem, two elected Council Members and three appointed members from the local business community. Every binding agreement, contract and program is approved by majority vote of the Board of Directors. Day-to-to operations are overseen by the hired Executive Director.
Working with the GEDC
Our short but thorough application helps us both see and understand the big picture of your business.
We'll discuss your business, project, available resources and how GEDC can help you.
We'll have work to do before a decision can be made. Gathering documents, performing an impact analysis and preparing for the Board.
All binding agreements are made by a Board of local citizen and business leaders.
The Corner Parkette
Family memories had always been made here and we wanted to preserve that ability. The GEDC took on the project of converting what had become a dangerous building - into an open, flexible, community space downtown.
A homegrown food truck outgrew itself. The owners partnered with the EDC to aquire a vacant, historic building to bring hometown cooking and a new local favorite to downtown Groesbeck, Tx.
Get Started with GEDC Today
It takes less than 3 minutes.
Still have Questions?
Here are the most frequently asked questions and "need to know" guidelines
Need more detailed or specific answers?
Reach out however best works for you - phone, email or text message.