How it Works & Community Benefits
How the Economic Development Corporation Works
The Corporation is a non-profit corporation specifically governed by Section 4B of the Texas Development Corporation Act of 1979. The Articles of Incorporation for the Nassau Bay Economic Development Corporation were filed on April 22, 1998.
The Corporation is funded by $0.005 sales tax collected within the City. The Corporation may use its funds to pay for a wide range of public projects, including public infrastructure, including any projects that the Corporation determines will contribute to the promotion or development of new or expanded business enterprises that will create or retain primary jobs including:
- Public facilities, including recycling facilities
The Corporation is governed by a seven member Board of Directors. Directors are appointed by City Council
for two-year terms and no board member can server more than four consecutive terms. Each director must be a resident of Nassau Bay.
The Corporation seeks to promote and expand business enterprises within the City in order to ensure the continued economic growth of the City and the full employment, welfare, and prosperity of its citizens.