The Nash Industrial Development Corporation (NIDC) is a “Type A” corporation organized under Texas Local Government Code, Chapter 501. It may enter into performance agreements with new or expanding industrial companies to provide certain types of economic assistance. There are a variety of ways that the City of Nash and the Nash Industrial Development Corporation may assist businesses seeking to locate or expand within Nash.
Affordable sites at the Nash Business Park:
The Nash Business Park, located in the western section of Nash along U.S Highway 82, offers attractive affordable sites at a convenient and accessible location. The 4th phase of the successful business park was recently completed with a variety of lots available ranging in size from 0.5 acres to 45 acres. Complete infrastructure is available including concrete streets with curb and gutter, ample water and sewer service, street lights and other amenities. Cost of land is $15,000 per acre or approximately 0.34 cents per square foot. See link for specific information. (link to Business Park info)
Revolving Loan Fund
The NIDC offers a Revolving Loan Fund to assist businesses with their financing needs. Generally, these loans are limited to $100,000 or less with the interest rate being approximately New York prime rates. The NIDC cannot be the majority lender and other business loan entities are required to provide the majority of the financing. Specific program is available at the following links (link to RLF Guidelines & link to RLF loan application)
Chapman Revolving Loan Fund
The Ark-Tex Council of Governments offers a Revolving Loan Fund for businesses that require a subsidized loan of over $100,000. The loans are issued at prevailing New York prime rates. The Chapman loans are intended to assist with gap financing with other sources providing the majority of project. Specific program is available at the following links (link to ATCOG RLF Guidelines & link to ATCOG RLF loan application)
Texas Capital Fund & Other State Incentive Programs
The Economic Development staff can advise prospective businesses as to which State programs may apply to their project. The City has a successful history of securing grants and loans, many of which are designed to assist economic development activities. The following link provides an overview of resources available from state and federal agencies. (link to Other Funding Sources)
The Texarkana Area Chamber of Commerce provides a wealth of information regarding locational and site selection considerations. Follow the link to the Chamber of Commerce web site (link to Chamber of Commerce)
Inventory Tax Exemption Options
“Goods-In-Transit” Exemption – Exemption from ad valorem tax on qualifying inventory housed in a third party logistics provider warehouse.