DCOA Board Creates Economic Relief Fund

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

Abilene, TX – The DCOA continues to assist local companies through the economic downturn through the Economic Relief Fund (ERF), which awards incentive grants to qualified local companies that have been directly affected by the COVID-19 Pandemic. The core purpose of the Economic Relief Fund is to retain both primary employers and the jobs they create in Abilene.

Companies who are qualified to apply for the grant include those who are based within the city limits of Abilene, have been in existence for at least two-years, can provide one-year of business financials and its most recent tax return, and agrees to remain in business and retain an agreed upon number of full-time employees for one-year in Abilene. The companies must also be eligible under one of the NAICS codes that are defined in Section 501.002(12) of the Texas Local Government Code.

Qualified applications for the grant are required to be approved by the DCOA’s Board of Directors, and in some cases, the City Council of Abilene. As dictated by law, companies awarded grant funds must be contractually bound to certain performance criteria agreed upon by the DCOA and the company.

The ERF process is streamlined through the online application which is available now through the DCOA’s website. Qualified companies must submit a completed application with the required supporting documents to be considered for an incentive grant. If you are interested in learning more about the qualifications or application process, please visit www.AbileneDCOA.com or call (325) 676-6390.