Mount Vernon is conveniently located halfway between Dallas and Texarkana (one hour from each) and Interstate 30 runs within our city limits. Our economic development corporation can assist with any projects and can offer economic incentives, facilitate tax abatements, and offer job creation incentives provided criterion are met. We also offer excellent quality of life for your employees: historic town Square, Don Meredith Exhibit, active arts and civic groups, Smithsonian quality bird egg exhibit, and of course beautiful Lake Cypress Springs, TWICE named the most beautiful lake in Texas by D Magazine!
Mount Vernon Economic Development Corporation
In 1994, the citizens of Mount Vernon passed a half-cent sales tax dedicated to economic development. This 4B tax has been an invaluable tool in recruiting business, retail, quality of life, and tourism projects to Mount Vernon. Since 1995, sales tax collections have increased over 100% and over 1100 jobs have been created. To date, over $1,600,000 has been reinvested back into the community to enhance and stimulate the local economy.
A partial list of projects funded in whole or in part by Mount Vernon EDC:
Lowe's Distribution Center
Assistance with Road infrastructure / Love's Travel Stops
Assistance with Alco infrastructure
Hometown Market Square Re-Development (Alps, Mt. Vernon Gym)
Interstate 30 Infrastructure
Developer's renovation of Maya's Restaurant
Lucky 7 Pit Stop
Downtown Sidewalk Project
Northeast Texas Rural Rail Transportation District infrastructure assistance
Nations Bird Egg Exhibit
Don Meredith Sports Memorabilia Exhibit
Cultural Arts Center
Art Music Park for Children
Highway 37 Road Infrastructure for Business
Improvements to Little Creek Park
Mount Vernon Music Venue
Bankhead Highway Visitors' Center
Promotional / Advertising Expenditures
To be a progressive economic development corporation promoting attractive economic growth and retention.
To proactively pursue the economic growth of the City of Mount Vernon through providing quality resources to attract and expand both new and existing businesses and industries, thereby enhancing the economy and promoting an excellent quality of life for the citizens of
facebook: Mount Vernon Economic Development Corporation
RETAIL TRADE AREA
The population of the local retail trade area is 12,771 people.
720 homes are valued at $200,000+
70 of those homes valued at $500,000+
72 of those homes valued at over $1,000,000
The Retail Trade Area of Mount Vernon has a 2013 population of 12,771 and is expected to grow to 13,083 by 2018. The average age of the Retail Trade Area is 39.90 with an average household income of $62,772. In 2013, there are 4,838 households with an average household size of 2.61 persons. 76.21% of the households are owner occupied. The median owner occupied housing value is $97,538.
The workplace population of the Retail Trade Area is 4,581 with Executive and Professional jobs making up the largest sector of employment at 1,714. The total number of establishments is 438. The average travel time to work for Mount Vernon citizens is 23.83 minutes.
Click on the links below for more detailed information.
|Click here for demographic comparisons|
Population within 15 mi. radius: 27,743
Population within 25 mi. radius: 93,305
Households within 25 mi. radius: 34,498
21.2% of the population within a 15 mile radius has a median household income of $50,000-$74,999
Interstate 30 @Hwy. 37 traffic count: 26,000+ per day
Tax rate PER $100 valuation:
High speed braodband available most locations.
Tony Stonecypher, City Administrator
Jennifer Meyer, SWEPCO
Paul Garza, Verizon
Ty Shlosser, Centerpoint Energy
CLICK HERE for City of Mount Vernon website
Property Available for Economic Development
Looking for available land for economic development? Mount Vernon has several attractive privately owned sites available with Interstate 30 frontage. Call 903.537.4495 for information, or visit us on facebook at Mount Vernon Economic Development Corporation.
40+ acres north Interstate 30 frontage. Inside city limits. Owner, Franklin County Industrial Foundation. High speed broadband available.
35 acres located US Hwy 67 east. All utilities, including 3 phase electricity, at site. Bordered on the north by Blacklands Railroad. Owner, Franklin County Industrial Foundation.
12 acres with 1000 ft. Interstate 30 frontage within city limits. Privately owned.
6900 s.f. building; storage room, ch/a. 401 1/2 Highway 37 S. Privately owned.
107 E. Dallas Street, Downtown, North side of Square.
For more information, contact 903.537.4495
Mount Vernon Economic Development Corporation
Board of Directors
The 4B Mount Vernon Economic Development Corporation Board is comprised of seven directors:
David Weidman, President
Joel Jackson, Vice-President
Teresia Wims, Executive Director
The economic development office is located in City Hall, 109 N. Kaufman Street, Mount Vernon, Texas, on the west side of the Square.
Board meetings are held at City Hall at 5:30 p.m. on the first Tuesday evenings of each quarter: January, April, July, and October.
Economic Development Incentives
The following list identifies many of the economic development incentives potentially available at the local level. In addition to local incentives, the Mount Vernon Economic Development Corporation staff will assist businesses in gaining maximum benefit from state, federal, and governmental incentives.
4B SALES TAX
Industrial, retail, and 'qualify of life' project grants, loans, and assistance to qualifying businesses. Mount Vernon Economic Development Corporation uses these funds to work with businesses interested in locating to our community. Amount of incentives granted is based on the economic impact of the project including capital investment and / or job creation. Incentive funds can be used to assist with facility construction, infrastructure, remodeling, job training, and / or job creation. Mount Vernon Application is available from Mount Vernon Economic Development Corporation or click below.
EXISTING BUSINESS STRUCTURE ASSISTANCE PROGRAM
The purpose of this incentive program is to provide a resource for the upgrade of Mount
Vernon's existing business building stock as well as enhance the local economy. 1:1 matching grant funding up to $15,000 allotment per project if qualified#
FRANKLIN COUNTY REVOLVING LOAN FUND
Low interest loans available to qualifying businesses. Job creation and capital investment requirements. Application is available from Franklin County Treasurer.
Franklin County and City of Mount Vernon offer Freeport Exemption for goods that are detained in Texas for short periods of time# Freeport property includes goods, wares, merchandise, and certain aircraft parts. Freeport property qualifies for city and county exemption from ad valorem taxation only if it has been detained in the state for 175 days or less for the purpose of assembly, storage, manufacturing, processing, or fabricating.
MVISD taxes are not exempted under Freeport Exemption.
Tax abatement for up to 10 years for qualifying businesses# Minimum investment: $300,000 and creation of 3 jobs or $1,000,000 investment with no job creation requirement.
HISTORIC PRESERVATION INCENTIVES
Tax freeze for historic renovations:
Up to 10 years tax freeze at pre-renovation rate for qualifying business projects; subject to Landmark Commission review in addition to City Council and / or Commissioners' Court approval#
Facade Improvement Grant:
Small grant fund implemented by the City of Mount Vernon to assist with signage, paint, and / or facade improvements. Qualifying projects are funded on a 'first come, first served' basis. Projects are subject to Landmark Commission review as well as City Council approval. The grant is a 50 / 50 match.
STATE AND REGIONAL INCENTIVES
Texas Enterprise Fund
Skills Developement Fund
Texas Capital Fund
NE Texas Economic Development Revolving Loan fund
All incentives are based on submission of economic development application and one or all of the following board or governmental body's approval:
City of Mount Vernon
Mount Vernon Economic Development Corporation
For more information, contact:
Teresia Wims, Economic Development Coordinator
|For MVEDC incentive application, CLICK HERE|
Franklin County Industrial Foundation
Franklin County Industrial Foundation,a privately held organization, is also actively involved in economic development. Established over fifty years ago, the Foundation has a time-proven history of attracting new business to Mount Vernon and Franklin County.
Industrial Foundation meetings are held the second Fridays of January, April, July, and October. Franklin County Industrial Foundation Officers:
Jerry Hubbell, President
Paul Lovier, Vice-President
Charles Lowry, Secretary
Kenneth Greer, Treasurer
JD Baumgardner, Appointed
John Kaufman, Appointed
Bob Stinson, Appointed
Bob McFarland, Director
Mount Vernon EDC 903.537.4495
City Hall 903.537.2252
Franklin County 903.537.2342
Franklin Co. Water District 903.537.4536
East TX Medical Center 903.537.4552
Franklin Co. Industrial Foundation 713.882.4727
Blacklands Railroad 877.439.0738
Franklin Co. Chamber 903.537.4365
Franklin County Sheriff's Office 903.537.4539
Main Street Office 903.537.4070