Among the companies which have discovered the Laredo/Nuevo Laredo advantage and have located here are Sony, Ford, Rheem, General Motors, Emerson Electric, Caterpillar and Mattel.

TAX ABATEMENT

The City of Laredo and Webb County both offer 5-year property tax abatements to companies which invest in the community and create new jobs. The amount of the abatement is negotiated and varies depending upon the amount of additional investment and the number of new jobs created.

On inventory taxes, the City of Laredo and Webb County do not tax inventories held in warehouses under 6 months, as prescribed by the State "Freeport Exemption".

Nuevo Laredo

For maquiladora operations just across the river in Nuevo Laredo, Mexico, abatements are granted for property taxes, payroll taxes, registration costs and permit fees.

• Laredo Community College offers customized training for area employers.
• Laredo Job Corps Center, Ser-Jobs for Progress, Texas Careers, Southern Career Institute

STATE INCENTIVES

• Texas has NO inventory tax.  House Bill 621, passed in 2006, exempts from ad valorem taxation, "goods in transit."
• Texas has no Corporate Income Tax. (which is what other States abate, if they abate.)
• Texas has no Individual Income Tax.
• Texas has the lowest average fuel and electricity energy cost in the U.S.
• Texas has the 2^nd lowest average State Tax burden in the U.S.
• Texas has the 3^rd lowest cost of living in the U.S.
• Texas Capital Fund grants pay up to $500,000 for site utilities including gas lines, water & sewer lines, roads and rail spurs.
• Sales Tax Exemption for Gas & Electric - Texas Manufacturers who complete a "Predominant Utility Usage" study may obtain an exemption from payment of State Sales Tax on utilities usage.

Laredo has four active Foreign Trade Zones (FTZ) sites, one at Laredo International Airport and three at local industrial parks, covering a total of 3,500 acres.

FTZ’s offer substantial savings on delayed, reduced or eliminated U.S. Customs duties. Foreign and domestic merchandise may be moved into these zones for storage, assembly, exhibition, manufacturing or other processing, for indefinite periods of time, without payment of Customs duties until it leaves the zone and enters the U.S. for domestic use. When the duties are paid, the importer may pay on either the finished product or the original foreign material, whichever is less.

Also, material in FTZ’s is not subject to Texas Inventory Taxes.

Electricity, natural gas and water are available at all industrial parks. Electric utility rates may be reduced for heavy users, especially those providing substantial employment opportunities.

An abundant, productive and bi-lingual work force makes Laredo an outstanding business or industrial location. With a 2008 population of about 233,152 the Laredo MSA is the fastest growing city in Texas and the one of the fastest growing in the U.S. In addition there are approximately 500,000 people living just across the Rio Grande in Nuevo Laredo, Mexico, making a total population of over 733,152.

The City of Laredo’s labor force is approximately 90,329 with 5,420 unemployed, 1,000 of whom have already been pre-screened by the local Texas Workforce Center.

The Laredo Development Foundation operates a Loan Assistance Center which is affiliated with SBA’s Small Business Development Center program and a 504 Certified Development Corporation.

In the last 5 years, the LDF has processed over 200 SBA Guaranteed loans at low interest rates.

Local banks, with over $6 billion in assets (Laredo is home to the largest minority owned bank in the U.S. and the 2^nd largest bank headquartered in Texas) are prepared to cooperate to offer the most favorable terms available, and provide experienced, bi-lingual international departments for companies doing business in Mexico.

Laredo offers the assistance of the Laredo Chamber of Commerce’s Monterrey, Mexico INFOCENTER and many Mexican business contacts to help companies sell product or joint venture in Mexico.

In addition to assistance from the City, County, Chamber of Commerce and LDF, the Laredo Manufacturer’s Association and local plant managers are prepared to help with start-up and operations assistance & advice.

The Laredo Newcomers Club offers assistance to incoming family members, and local Homebuilders offer special prices on homes for incoming managers.

During the last several years, Laredo’s growth has been truly remarkable.

The U.S. Census Bureau recently reported that Laredo’s MSA is the fastest growing in Texas and the one of the fastest growing in the U.S. The January, 2008 MSA population stood at about 233,152 people, and the city-only population at about 200,000 people. With over 500,000 people living just across the river in Nuevo Laredo, the Los Laredos area has a combined population of over 733,152.

Fortunately, Laredo’s economy has more than kept pace with population growth. For example, from 2008 to 2009, the following areas showed increases:

•   Northbound Loaded Rail Cars
•   The Total Employed in Laredo MSA
•   Total Workforce in Laredo MSA
•   Single Family and 2-Family Housing

Laredo is the place to be.