The City of Caldwell is committed to stimulate economic growth and development that meets the needs and desires of residents throughout the community which helps to grow and diversify the local tax base. Successful economic development ensures Caldwell’s financial ability to provide continued quality service and updated infrastructure for its residential and corporate citizens.
The purpose of this policy is to establish standards and guidelines that will govern the granting of financial initiatives to facilitate economic growth. The City encourages the use of incentives only as necessary to fill financial gaps and limits them to reasonable and appropriate project expenses which have a public benefit.
As such objectives are generally served by the enhancement and expansion of the local economy, the City may, on a case-by-case basis, consider providing financial incentives as a stimulus for mixed-use residential, commercial and industrial development in Caldwell. It is the policy of the City that consideration for such incentives will be provided in accordance with the procedures and criteria outlined in this document. Nothing herein shall imply or suggest that the City is under any obligation to provide financial incentives to any applicant.
The year 2009 started with the country in an economic downturn. In spite of that, Burleson County and the City of Caldwell continue to show significant economic progress.
In Caldwell, sales tax rebates continue to be increasing for the third straight year as compared to the corresponding months in the prior years. Per capita income is staying relatively high for a rural community. Unemployment rates are very low, and in fact, lots of Caldwell jobs are being filled by commuters from outside coming to Caldwell to work.
New construction has not slowed, and home builders are again building houses speculating on there being buyers. Retail prospects are not only contacting us, but coming in to check availabilities. Small industry is being added.
Why does Caldwell continue to prosper, even during bad times? We think there are 4 reasons:
- The boom of the oil industry. This is benefitting many Texas communities.
- Our proximity to Bryan/College Station, whose economy also is very sound.
- Fast growing traffic counts. We now have reached that magic number of 30,000 vehicles on an average day, which retailers love to see.
- Good quality of life: good Class AAA school is just the right size; hospital; airport; very good parks; close to B/CS shopping & entertainment opportunities; low cost of living; sound reliable city infrastructure (including city-owned lower cost electric company, paved streets, constant upgrading of water/wastewater systems; city’s own sanitation department.