Spurred to succeed, well stocked to incentivize
A city unified by C.A.R.E.: C.A.R.E.—short for Creation, Attraction, Retention and Expansion—is how Stephenville’s mayor described effective economic development to the more than 50 enthusiastic business and community leaders, including leaders from Tarleton State University, who gathered in 2015 to discuss a proposal for a Type B economic development tax. The C.A.R.E. description resonated, and because Stephenville is a city that cares about its future, when the Type B proposal was put to a city-wide vote just months later, it passed overwhelmingly. And that allowed Stephenville to take a major step forward with newly flexible incentives and a new ready-to-succeed Executive Director of the Economic Development Authority.
Type B development, A+ effort: Stephenville’s Type B sales tax arrangement enables the city to undertake all the job- and employer-related efforts available under the state’s Type A program, and also provides ample leeway to undertake quality of life projects that ultimately result in a more livable city that is more attractive to new residents and industry.