DCOA Board Creates Economic Relief Fund

Development Corporation allocates up to $3 million to Economic Relief Fund for qualified local companies

Abilene, TX – In light of the economic recession caused by the COVID-19 Pandemic, Mayor Anthony Williams challenged the Development Corporation of Abilene (DCOA)

to be innovative in supporting the immediate needs of local companies during this crisis. The DCOA Board answered the Mayor’s challenge by creating an economic relief

fund utilizing ½ cent sales tax dollars for qualified companies.

“It’s times like these that prove what type of city we are. I am proud to say that Abilene is a city that bands together and finds ways to help each other. We are resourceful

and kind, looking to support each other. The Economic Relief Fund will help create stability in this everchanging time of trial.” Anthony Williams, Mayor of Abilene

The DCOA’s CEO, Misty Mayo, presented the concept spurred by both Williams and Abilene’s City Manager, Robert Hanna, to the Development Corporation’s Board during

a special meeting. Exceeding the Mayor’s expectation, the DCOA Board responded by creating a significant fund.

“The DCOA’s core mission is to create and retain primary jobs for Abilene. On behalf of the DCOA and its Board, we are pleased to create this fund for our

community.” Jack Rich, President of the Board, Development Corporation of Abilene

The Economic Relief Fund will award incentive grants to qualified local companies that have been directly affected by the COVID-19 Pandemic. The core purpose of this fund

is to retain both primary employers and the jobs they create in Abilene.

The Development Corporation of Abilene will create a special committee tasked with creating the guidelines and parameters for the Economic Relief Fund. Details will be

available by April 28th.