Business is booming in Collin County, TX. Do we still need special tax breaks?

Business is Booming. Do We Need Special Tax Breaks?

Out of more than 3,000 counties across the country, Collin County is number four in incoming investments. That is a phenomenal ranking!

Last week the Dallas Business Journal featured a report listing the top 10 counties with the most incoming investments in the U.S.

Collin is in good company with four other Texas counties included in the top 10.

SmartAssets’ calculated their rankings by including our county’s 13.2 percent business growth, $8.2 million in GDP growth and $16,266 in municipal bonds per capita.

Tax Breaks for Business

As popular as it is as an investment destination, the county still maintains a tax abatement policy that offers tax breaks to businesses based on added jobs and property value.

Offering tax breaks in the name of economic development is a generally accepted practice today. Cities have most of the economic development tools, but the county also can—and does—give tax breaks.

Many of the best-known local corporations have NOT asked for a county tax break: Toyota, Liberty Mutual, the Dallas Cowboys, and Cabela’s—just to name a few.

What Do You Think?

So I want to hear from you. In light of our small tax rate and the impressive amount of investment here, do we still need to offer these tax breaks?

Leave a comment on my Facebook page to register your opinion.