Economic Development
Mission
The mission of the Economic Development includes assisting growth of existing businesses and industries as well as attracting new businesses and industries into Queen City. It has the authority to approve projects that the board determines as contributing to the promotion or development of new or expanded business enterprise.
The board has adopted a set of by-laws and requirements that must be met by those requesting assistance.
Before spending 4B sales tax revenue, corporations are required to hold at least one public hearing on the proposed project that will be funded by the tax.
By law, cities may use money raised by this sales tax for a wide variety of projects including land, buildings, equipment, facilities, and related improvements
The revenue may also be used for sports facilities, entertainment, tourist, convention and public park facilities, municipal buildings, street, water and sewer facilities, and maintenance and operating costs associated with such projects.
These are some of the businesses that the Queen City EDC have assisted with either grants or low interest loans.
Brefine Homes
Queen City Funeral Home
Hummingbird Floral
The Break of Day Breakfast Shop
GoZoe Wireless
Queen City Pawn
Welborn Extreme automotive
Quality Building
Holy Smoke and Sacred Grounds Coffee Shop
Dollar General
Beako Manufacturing
Express Inn
The Shops at Queen City
QUEEN CITY LAND & LOANS
Queen City Revolving Loan Program Guidelines and Development for Queen City, Texas (RLF) Revolving Loan Fund The City of Queen City, Texas has established the following guidelines and procedures in regards to the (RLF) Revolving Loan Fund for the purpose of expanding economic opportunity and creating employment for the city. Procedures employed by the RLF will incorporate all the conditions required by law. The City will use, for the most part, procedures established by Texas Department of Commerce/Texas Capital Fund and the Rural Economic and Community Development. The City will accept applications from businesses located, or willing to locate within the Queen City, Texas city limits. The purpose will be to create or retain employment within the City. The City will initiate and process the RLF with the assistance of a designated City consultant. This consultant will act as a proposed mediator and contact between the City and the applicant. The amount of loans made will be governed by need of the business and availability of funds. As a general rule, the amount of RLF funds will not exceed 50% of the cost of the project. The applicant/business will be required to obtain 40% from commercial leaders (which would be given first lien position on all loans, regardless of security provided; including real estate and commercial property) and provide 10% in cash and/or equity in the project. The specific limitations to the types of businesses accepted for the RLF are as follows: 1. The business must be located within the city limits of the City, 2. The business cannot be agricultural in nature, 3. The business cannot be similar in nature to another RLF funded business (this type of lending would be considered "conflicting interest" to the City and the affected competing business), 4. The business must operate within the laws of the State of Texas, and 5. The minimum loan amount funded by the RLF is $10,000. The final selection of a business for the RLF will be made by the Economic Development Council of the City. The Economic Development Council of the City, reserves the right to determine if the business is feasible, in the best interest of the city, and of an appropriate nature that would be conductive to economic growth for the City. interest
Commercial Land Available for Sale
22- acres on U. S. Highway 59. Land is located between the two signal lights on the highway. Idea location for retail business. Land is owned by the Queen City Economic Development Corporation. Can be sold as a whole or can be divided. Grant, low-interest loan, tax incentives available for qualifying businesses. Contact Becky Collom, 214-642-9970 for more information.
Close the deal
Call the EDC secretary at 903-796-7986 for more information.