Round Rock, Texas, is the second-fastest growing city in America, with a population of more than 100,000. With an estimated $1.3 billion in impact from economic developments completed from 2011-2014, it is evident Round Rock is an attractive and prosperous city.
Economic Development Partnership
The Round Rock Economic Development Partnership is a public-private partnership between the City of Round Rock and the Momentum investors of the Round Rock Chamber of Commerce. The City and Chamber partner to accelerate economic growth through aggressive programs for business development and business retention and expansion.
Founded in 2004, the Partnership is monitored by an Oversight Committee representing the City of Round Rock and the Momentum investors. Additionally, the Economic Development Council of the Round Rock Chamber of Commerce has active committees that offer volunteer input and participation in the economic development program.
The Round Rock Chamber of Commerce is a private, non-profit, taxpaying corporation.
Economic development matters
Economic prosperity leads to availability of quality education and healthcare, accessibility to retail shopping and restaurant venues and beautiful parks and neighborhoods. Unlike other areas in the country, Round Rock has avoided crippling taxes that burden industrial development. In fact, Round Rock offers tax breaks for business interests, and the State of Texas has no corporate or personal income tax. Best of all, Round Rock has the lowest property taxes in the region.
Round Rock has the proper infrastructure in place to work with local industries to determine the best package that can be offered for each project. This is done in a refined and expedited manner. On a case-by-case basis, Round Rock offers a variety of incentives, which could include tax abatement, foreign trade zone, reinvestment zone, and Freeport exemptions.
Over the past 15 years, Round Rock has lowered property taxes while expanding services to citizens and businesses. In fact, one half-cent of the municipal sales tax collected is dedicated to the reduction of property taxes. Residents and businesses pay some of the the lowest average monthly utility costs in Central Texas and Round Rock has a property tax rate that is among the lowest of any medium or large city in the state.