How long would my contract be with the City?

Typically 5-10 years, the term of incentive agreements is made to best reflect the project’s timeline, investment, and job creation schedule and the City will honor those agreements until the completion or termination of the agreement. For existing businesses, per job incentives and property tax reimbursements are capped at 5 years, and for businesses new to Austin are capped at 10 years.

In the event a program is allowed to sunset or program criteria is changed to reflect shifting conditions, existing agreements will be grandfathered for the remainder of the term of the project agreement unless otherwise agreed to by the parties in a written amendment to the agreement. The City Manager is able to propose a longer or shorter term for an agreement should the City have a competitive justification or business need for such action. All agreements must contain standard City termination provisions for economic development agreements, including Payments Subject to Future Appropriation and Event of Default clauses.