Haltom City's Economic Development Department exists to enhance community development within the city. This includes encouraging people and businesses to relocate to Haltom City.
The Economic Development Corporation has a variety of resources available to prospective businesses who are looking for a place in Haltom City to call home. Please contact Assistant City Manager Rex Phelps at 817-222-7745 if you have any questions.
The Haltom City Tax Abatement Program exempts the value of improvements up to 10 years on the construction of a new facility or for real expansion/modernization of an existing facility. The investment must be $2.5 million and create and sustain 10 new full-time jobs.
The City of Haltom City is committed to the promotion of high quality development in all parts of the City and to an ongoing improvement in the quality of life for its citizens. Because these objectives are generally served by the enhancement and expansion of the local economy, the Haltom City Economic Development Corporation (the “Corporation”) will, on a case-by-case basis, give consideration to providing incentives to stimulate economic development in the City. Nothing herein shall imply or suggest that the Corporation is under any obligation to provide Economic Development Assistance Grants to any applicant. All applicants shall be considered on a case-by-case basis, and the decision to approve or deny assistance grants shall be at the sole discretion of the Economic Development Corporation.
The Property Enhancement Incentive Policy (PEIP) offers a 50% matching grant up to $10,000 for improvements to commercially zoned properties. The PEIP has varying participation limits on the type of enhancement. Improvements eligible for grant monies include façade enhancements, interior renovation, landscaping, lighting, parking/driveways, pedestrian amenities, signage, utilities and code compliance.
U.S. foreign-trade zones (FTZs or Zones) are the domestic equivalents of what are internationally known as ‘free-trade zones.’ They are usually located in areas with geographic trade advantages, such as major seaports, international airports, and national frontiers. Within FTZs, company goods can be unloaded, manufactured, reassembled, tested, sampled, processed, repackaged, and re-exported without the intervention of U.S. customs authorities. Only when goods are moved outside a Zone do they become subject to U.S. customs duties. Zone status may also make sites eligible for state and local tax benefits. A Foreign Trade Zone is located in Haltom City on property owned by Mercantile off of Beach Street.
For more information see:
Designated projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created or retained at the qualified business site. The program is administered through the Texas Comptroller. For more information see:
Haltom City's municipal ad valorem tax rate is $0.608162 per $100 valuation. More Information can be found here.
A freeport exemption is a property tax exemption. Freeport property includes various types of property that are detained in Texas for a short period of time (175 days or less) to be transported out of Texas. The county, city and school district participate. This is administered by the Tarrant Appraisal District.
To encourage new development on vacant land along the IH 820 Corridor, Tax Increment Finance Districts have been created. For more information please contact City manager Rex Phelps at 817-222-7733 or via email.
In recent years Haltom City has enjoyed record growth in terms of economic development. Many of these developments have recently been completed while others are in the construction process. There are numerous other developments in the planning mode as well.
The Mayor, City Council Members, staff and citizens appointed to the Economic Development Corporation have utilized a two-prong strategy...bringing an influx of new quality residential single and multi-family developments and new commercial developments. Once completed, these commercial developments will require the fulfillment of thousands of job openings.
Together, these will add to the quality of life for both residents and the area's workforce. This strategy has and will continue to serve as a catalyst...attracting new industry, distribution centers (critical for capitalizing on the future of E-commerce), corporate headquarters and retail options for our city. A significant amount of city/Economic Development Corporation (EDC) owned land was marketed and negotiated to secure these residential and commercial developments.
As this new growth develops and matures, an environment will exist where Haltom City's tax base and sales tax revenue is expanded. These new revenue sources will enable our city to keep up with infrastructure and service delivery costs, while eventually lowering the property tax rates for our valued residents.
Ours and surrounding communities will have more choices for where we choose to work, shop, dine, play and live. Haltom City is becoming a place where businesses prosper and families flourish.
Below are examples of commercial and residential developments that are currently under construction, followed by some of the projects completed in Haltom City in recent years. A full list of completed, ongoing and future developments is posted just below these visual examples.
The new 72-acre, one million square foot “820 Business Exchange” Business Park will bring a significant number of jobs supporting distribution facilities, warehousing and corporate headquarters.
Estimates of 1500+ jobs will be added to support operations at these facilities.
The new High Pointe Residential Subdivision, located just south of Haltom High School, has developed faster than anyone anticipated. This subdivision will bring 225 beautiful single-family homes to the west side of Haltom Road and 900 luxury apartment homes to the east side of Haltom Road.
This 54-acre "Class A" Industrial Park will bring 1000+ jobs once completed and operational.
The Heritage Village Subdivision will consist of 441 homes built by Our Country Homes & CB Jennings Homes.
Below are examples of the many developments and businesses that have come to Haltom City in recent years. The list consists of recently completed developments that are now open, those currently under construction and those that are verging on construction.
There are many other development projects looking to locate their businesses here in Haltom City. The COVID-19 crisis slowed the scheduled hotel developments and the event center, but all indications are that they will resume development efforts as the health crisis subsides.
Haltom City has opportunities for commercial growth along the IH 820 corridor with outstanding accessibility and visibility. The completion of expanded lanes in conjunction with new frontage roads, backage roads and exit ramps make this area prime for development.
With over 300 acres available for new development, Haltom City is offering incentives and development assistance grants to maximize economic potential to attract quality tenants whom wish to take full advantage of the property and its unique attributes.
Foreign Trade Zones, Enterprise Zones and Triple Freeport are examples of other incentives that are available and listed above.
For more information please contact the Economic Development Department by filling out this contact form (City Manager Rex Phelps) or by calling 817-222-7745.