Homepage > Strong Local Economy > Economic Development - Investment Created >

Economic Development - Investment Created

Strong Local Economy

Status Indicators: Proceeding as Anticipated |  Monitoring Progress | Reviewing for Improvement | Information Unavailable

Status Indicators:
Proceeding as Anticipated
 Monitoring Progress
Reviewing for Improvement
Information Unavailable

$1,700,000

Q2-18

Please note that Q1, Q2, Q3, and Q4 refer to the first, second, third, and fourth quarters of the Fiscal Year. The City’s Fiscal Year runs from October 1st – September 30th and is denoted by FY.

One agreement was completed in the second quarter, totaling $1.7M.  Staff continues to work on finalizing agreements for 2 companies, and is still in the early stages of potentially developing an incentive deal with various other companies. This measure does not correspond to seasonal trends, therefore, still has the potential to meet its annual target.

Capital Expenditures Investment are required in a company’s performance obligations, which are set forth in Economic Development Incentive Agreements (SLDC Performance Agreements, Tax Abatements or Chapter 380). For the purpose of this measure, the numbers will be reported in the fiscal year in which the agreement is signed and approved.

This measure encompasses Capital Expenditures Investment, including investment through the full life of the incentive agreement, for all incentive agreements approved and established during a fiscal year. The City of Sugar Land’s fiscal year runs from October 1 through September 30.

Capital Expenditures Investment: Funds spent on materials, design, and for construction of the agreed upon improvements and for any applicable (if included) personal property to furnish and equip the improvement, not including land costs.

The target is ≥$40,000,000, which is based on performance better than or equal to the trailing 10-year average of investment created, as required in a company’s performance obligations, through the full life of the City’s various incentive agreements. Excluding the Schlumberger project, which drastically skews the annual averages, historical data shows that the 10-year average annual capital investment created through incentives is over $30,000,000.

Capital Expenditures Investment is a key component of economic advancement resulting from economic development incentive agreements between the City of Sugar Land and corporations or developers. Furthermore, it is a strong sign of economic activity and growth within the City.

City of Sugar Land Economic Development Agreements





Contact Information

City of Sugar Land
2700 Town Center Blvd. North
Sugar Land, TX 77479

Office of Performance and Accountability
Contact (281) 275-2236
www.sugarlandtx.gov
PerformanceAccountability@sugarlandtx.gov

Site Map
Disclaimer
Privacy


click here to view the city of sugar land's facebook pageclick here to view the city of sugar land's twitter page

Contact Information

City of Sugar Land
2700 Town Center Blvd. North
Sugar Land, TX 77479

Office of Performance and Accountability
Contact (281) 275-2236
www.sugarlandtx.gov
PerformanceAccountability@sugarlandtx.gov

Site Map
Disclaimer
Privacy

click here to view the city of sugar land's facebook pageclick here to view the city of sugar land's twitter page