This portion of our website will provide you with the process and a summary of the incentives available to a potential employer through the cooperative efforts of the Greater Killeen Chamber of Commerce (GKCC) and the Killeen Economic Development Corporation (KEDC).
The Process
Incentives are negotiated on a case-by-case basis between the company and KEDC. The GKCC staff facilitates that process. Incentive levels are determined by the economic impact of the project on the local economy and other benefits to the community that may occur as a result of the project.
The formal process begins when a company requests Economic Impact Input Data Sheets from GKCC, completes those Data Sheets and returns them to GKCC.
The company is then provided an Offer Letter from KEDC outlining the incentive offer. After a successful negotiation of the offer has been concluded, KEDC and company obligations are captured in a Performance Agreement. The Performance Agreement is a performance-based contract executed by both parties. It describes the incentives to be provided by KEDC and the terms and conditions under which they will be provided. It also describes the requirements the company must meet to earn and retain the incentives.