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The Fort Bend County Commissioners Court authorized the creation of Fort Bend County Reinvestment Zone No. 19 in Precinct 1 for tax abatement purposes. The 12-acre tax increment reinvestment zone is on Highway 36, across from Needville High School, according to documents from its most recent meeting.
The site will be the home of the Fort Bend-based biotech firm TekManna, which is expected to bring 25 jobs to the area and spur economic development, thus qualifying for tax abatement.
Sugar Land has made use of TIRZ in the past. Popular areas like Sugar Land Town Square, the Imperial Sugar redevelopment and the Telfair Commercial District are each part of their own TIRZ. Prolific in Houston, TIRZ have worked their way into Houston's suburbs as an increasingly popular form of economic development.
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