Kilgore Economic Development Corporation is located in the city of Kilgore, Texas, and is approximately one hundred and twenty miles east of Dallas. Texas has been declared to be the top state for business in the United States and Kilgore is fortunate enough to be a growing community peopled by a traditionally hardworking and forward-looking population. For businesses considering relocating and expanding their enterprises, Kilgore EDC can offer a wide range of commercial property premises, tax incentives, and the services of a professional staff anxious to assist new businesses to succeed in Kilgore.
Kilgore EDC was established on October 1, 1990, and this 4A corporation has a five member board to oversee operations and two full-time staff positions. The primary purpose of Kilgore EDC is to maintain and expand the tax base of Kilgore and to create new value-added, full-time jobs for residents and to ensure the retaining of existing full time jobs. Kilgore EDC endeavors to attract new manufacturing companies and industries to the city of Kilgore with the offering of available commercial property, financial incentives, and an available technically-skilled work force. The strategic focus of Kilgore EDC is to encourage, support, and financially assist the retention and expansion of Kilgore's existing businesses and industries. The corporation will also offer assistance to small business owners to relocate to the city of Kilgore, Texas, and are able to provide several small to medium size commercial property options for consideration.
Kilgore EDC oversees the use of local economic development funds and members of the organization work with interested parties on the use of these funds as an incentive for relocating and expanding business and industry, and taking advantage of the fine commercial property available in Kilgore. In this manner, Kilgore EDC assists with activities contributing to the quality of overall life in the region. Any proposal from Kilgore EDC is pivotal upon companies qualifying for assistance under KEDC's guidelines for credit worthiness. Tax abatement on commercial property improvements may be granted by all taxing entities, with the exception of Kilgore Independent School District. Relocating companies taking up the offer of commercial property must meet the requirements associated with the value of capital improvements, and either job creation or payroll increases throughout the term of the agreement.
Kilgore EDC could designate a new company wishing to take up an option of commercial property as a Texas Enterprise Zone Program project, and upon approval by the state, the company would be eligible for tax refunds on building materials, machinery, and equipment, as well as electricity and natural gas purchased in the normal course of business. The professional staff of Kilgore EDC will be pleased to relay information of many other incentives to newcomers wishing to make use of the commercial property available. Since C.B. Buckley founded the future city of Kilgore and C.M. Joiner discovered oil, natural gas and oil continue to play a vital role in the economy of Kilgore, joining a diversified industrial base where 16 percent of jobs are in the industrial sector.
