BUDA — The Buda Economic Development Corporation (EDC) recently awarded incentives to four businesses in Buda from its “Large Incentive Grant Funds,” approved by the Buda City Council.
“These incentives support our businesses at critical times in their development and keep Buda competitive within the local market,” Buda EDC Board Chair Jennifer Storm said. “It is equally important to the EDC that it supports existing businesses that are rooted in Buda, as well as new businesses.”
The businesses that were awarded incentives include JParks Saloon & Standard, Meridian (connected to Zoi Market), Nighthawk Frozen Foods and Taste On Main.
JParks Saloon & Standard was awarded $10,000 for permit reimbursement and sales tax incentive reimbursements in the amount of $92,000 for three years. The business is investing more than $350,000 in capital into its location at 404 Main Street, creating approximately 30 jobs by its first year of operation.
Meridian, located at 200 Main Street, bills itself as a hub and destination for wellness, community, music and experience seekers. They were awarded $51,000, which includes funding toward sales tax reimbursement for three years and a one-time reimbursement of capital investments to improvements and upgrades to the facility and permits.
“Because of this grant, we can afford the infrastructure renovation,” Meridian Co-owner Travis Sutherland said. “Our coffee and cocktail bar are now stocked with our new menu items. … It was a game changer for us.”
Long-time Buda business Nighthawk Frozen Foods, located at 100 Nighthawk Circle, received $60,000 in incentives for its more than $8 million capital investment to improve its facility and equipment.
Finally, Buda EDC awarded Taste On Main, which will feature steak and seafood, with a total award of $226,500. The funding provides $20,000 toward permit fees, and $206,500 in sales tax reimbursement for up to three years or when it reaches the funding cap.
Vicky Rudy, interim executive director of Buda EDC, explained that the purpose of incentive grants is essentially to grow the local economy by attracting and retaining quality businesses and jobs, encourage redevelopment of targeted areas in the city, enhance the commercial viability and sustainability of existing commercial properties, create opportunities to employ residents of the city and increase the non-residential ad-valorem tax and/or sales and use tax revenue base for the city.
“We know these incentives have the potential to allow our businesses to shore up their long-term viability in our community, so these grants have both short- and long-term impacts,” Buda Mayor Lee Urbanovsky said.
Buda EDC’s Large Incentive Grant program has a rolling application, which is accessible online at www.budaedc.com/incentives. Contact Buda EDC at (512) 295-2022 for more information about its grant programs.