Brady and McCulloch County have several effective tools available as incentives for area economic development. Incentives are typically based on primary job creation and may vary on a case-by-case basis. We are also aggressively pursuing quality of life improving businesses and essential services such as day care, etc.
Economic Development Sales Tax
The citizens of Brady voted overwhelmingly to pass a half-cent 4A sales tax to be used for industry, manufacturing, and business attraction and retention. A city appointed board of five community leaders head the Brady Economic Development Corporation.
The City of Brady is capable of providing reinvestment zones for the purpose of tax abatements, tax increment financing and public improvement districts.
Tax Increment Financing
The City of Brady will consider using Tax increment Financing of needed public improvements in a defined area. This form of financing is backed by the tax increment generated by the development.
Property Tax Abatement
The City of Brady and McCulloch County will consider providing a property tax abatement on the appraised value of real property improvements and business personal property, to promote and retain high quality development in all areas of the city.
Chapter 380/381 Agreements
This sales tax sharing agreement in the form of a loan or grant is available to promote local economic development and to stimulate business and commercial activity in the city and county.