Amarillo Economic Development

The Amarillo EDC's mission is to promote business expansion in the greater Amarillo area that builds a stronger, more diversified economy. The Amarillo EDC assists primary businesses, which are companies that sell the majority of their products or services outside the Texas Panhandle region, and do not compete directly with existing local businesses. The EDC has aggressive business incentive programs funded from the proceeds of a half-cent sales tax for economic development that yields over $17 million annually. Cash grants and interest-free loans are available to companies creating new jobs in Amarillo. The level of financial assistance from Amarillo EDC is determined by a formula based on the number of new jobs a company will create, the average wage rate of those jobs, and the company's total capital investment in the project.