Bridgeport is your next business opportunity.
Bridgeport’s proximity to Fort Worth will benefit your businesses’ growth and expansion. Bridgeport is located at the convergence of US 380 and SH 114 allowing for quick access to DFW International Airport, Alliance Airport, Bridgeport Municipal Airport, Union Pacific Railroad, I-35, US 287, skilled labor, workforce training resources, and a population of over 6 million people in the rapidly growing DFW Metro Area.
The City of Bridgeport’s proximity to Dallas-Fort Worth-Arlington metroplex puts it on top of the list of places a new or existing business could move into and/or expand in the state of Texas. Our primary labor shed, encompassing a 6-county region is within a 45-minutes’ drive time from Bridgeport city center. The three cities of the metroplex which has a combined population close to 6.5 million can be reached on average in 1.5 hours from our city and in lesser time from parts of our labor shed. Our strategically significant location is complemented by our diverse workforce that is highly skilled and as diverse and the various types of major industries that can be found in the metroplex. Additionally, a pro-business environment consisting of exceptional infrastructure, right incentives, and other business focused assistance surely makes us a top choice for any venture.
The City of Bridgeport and its labor shed is well positioned for the advancement of businesses dealing with plastics processing. In 2016, the regional demand for this targeted industry sector’s products was over $1.8 Billion of which only 36% was met within the region.
In other words, there is a $1.15 billion opportunity for new and expanding companies in this targeted industry sector to gain sales volume within a 45-minute drive time radius.
Economical Electric Power:
City of Bridgeport is primarily served by Oncor Electric Delivery Company. The same company also serves most part of the 6-county labor shed which is within 45-minutes’ drive time radius of Bridgeport.
Oncor is Texas’s largest electric power transmission and distribution company, serving over 10 million Texans living across 99 counties and 410 cities of the state
It is also the 6th largest utility company in the United States
Transmission Voltage availability: 69KV, 138KV, and 345KV
Service Voltage: 120/208, 120/240, 240/480, and 277/480
Wise Electric Cooperative is the secondary provider of electric power to the city.
Texas ranks as top electric power generating state in the United States
In addition to its’ advantageous location near Dallas-Fort Worth area, the City of Bridgeport is able to provide commercial and industrial electric power at a competitive rate.
Only $.057 per kWh for industrial clients
Only $.075 per kWh for commercial clients
Natural Gas Pipelines:
Atmos Energy Corporation’s Mid-Texas division supplies natural gas to City of Bridgeport, the entire labor shed and beyond.
Texas has the nation’s largest natural gas infrastructure
Being in Texas, the city of Bridgeport is able to provide natural gas supply to both commercial and industrial clients at a highly competitive rate.
Industrial customers pay only $ 0.3374 per MMBtu for the first 1500 MMBtu, $ 0.2470 per MMBtu for the next 3500 MMBtu, and only $ 0.0530 per MMBtu for all MMBtu after 5000
Bridgeport is located at the intersection of US 380 and Texas Highway 114
The City’s proximity to Dallas-Fort Worth Metro Area will surely benefit existing or relocating businesses’ growth and expansion
Highway 114 provides a smooth and fast route to DFW International Airport
US 287 is less than half an hour drive through highway 114
A market with a population of six million within an hour drive drive time
The City is served by Bridgeport Municipal Airport
Dallas-Fort Worth International Airport is only an hour-long drive from Bridgeport
DFW Airport is the largest hub for American Airlines
Skilled Labor/Workforce Availability:
The labor shed has more jobs in the following Plastics Processing Sectors than the US Average:
More than 2.5x the US average employed in Rubber Product Manufacturing for Mechanical Use
2.5x the US average in Forging Machine Setters, Operators, and Tenders, Metal and Plastic
More than 1.5x the US average in Painters, Transportation Equipment
More than 1.5x the US average employed in Custom Compounding of Purchased Resins
1.5x the US average employed in Printed Circuit Assembly (Electronic Assembly) Manufacturing
1.5x the US average in Tire Repairers and Changers
1.5x the US average in Helpers–Installation, Maintenance, and Repair Workers
More than the US average in Computer Numerically Controlled Machine Tool Programmers, Metal and Plastic
More than the US average in Cutting, Punching, and Press Machine Setters, Operators, and Tenders, Metal and Plastic
More than the US average in Multiple Machine Tool Setters, Operators, and Tenders, Metal and Plastic
More than the US average in Drilling and Boring Machine Tool Setters, Operators, and Tenders, Metal and Plastic
More than the US average in Heat Treating Equipment Setters, Operators, and Tenders, Metal and Plastic
More than the US average in Milling and Planing Machine Setters, Operators, and Tenders, Metal and Plastic
More than the US average in Computer-Controlled Machine Tool Operators, Metal and Plastic
More than the US average in Plastics Plumbing Fixture Manufacturing
More than the US average in Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing
More than the US average in Paint and Coating Manufacturing
The labor shed has also seen the following growth in Plastics Processing over the last five years:
383% growth in Plastics Packaging Film and Sheet (including Laminated) Manufacturing
375% growth in Major Household Appliance Manufacturing
100% growth in Plastics Plumbing Fixture Manufacturing
55% growth in Plastics Bag and Pouch Manufacturing
50% growth in Plastics Pipe and Pipe Fitting Manufacturing
42% growth in Unlaminated Plastics Film and Sheet (except Packaging) Manufacturing
32% growth in Plastics Bottle Manufacturing
31% growth in All Other Plastics Product Manufacturing
10% growth in Plastics Materials and Basic Forms and Shapes Merchant Wholesalers
9% growth in Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing
Water and Wastewater:
The City of Bridgeport’s Water Distribution Division strives to provide uninterrupted distribution of water to its residents and businesses.
Lake Bridgeport is the source of water supplied to the city
Maximum daily system capacity is 3 million gallons with 1 million gallons of storage capacity
Pressure on mains 60 PSI with size ranging from low of 2 inches to high of 14 inches
The Endeavor Bridgeport project, currently under construction will also be served by the city’s Water Distribution Division
The Wastewater Collection Division is responsible for the city’s sanitary sewer system.
The Oxidation Extended-Aeration System type treatment plant has a maximum processing capacity of 1.22 million gallons
Award Winning Drinking Water
In 2013, the City of Bridgeport was announced winner of the Big Country Drinking Water Contest for Surface Water in a city with a population less than 10,000
Colleges and Universities:
The City of Bridgeport and the 6-county labor shed have access to high quality education and workforce development programs through a sizeable number of educational institutions:
University of North Texas
University of Texas at Dallas
Tarrant County College
North Central Texas College
Texas Christian University
Texas Woman’s University
University of Texas at Arlington
Since 2007, Bridgeport has been named a Texas Main Street City by Texas Historical Commission
and Texas Main Street Association
In 2016 and 2017 Bridgeport Main Street was recognized as a Nationally Accredited Main Street Program.
Taxes and Business Costs
The City of Bridgeport and the labor shed surrounding it offer a highly pro- business environment in terms of costs of conducting business and taxes. To name a few of the advantages:
The State of Texas does not charge a corporate income tax
No state individual income tax
Texas is the only US state that does not require private companies to have workers’ compensation insurance
Primary and Secondary Education
The City of Bridgeport is served by Bridgeport ISD. The school district meets all the requirements of Texas Education Agency.
Weatherford College Wise County has several programs designed to support regional growth industries. Some of the workforce training programs are:
Machining- Manual and CNC
Welding Technology Certificate
CAD & Design
Industrial Maintenance Technician Certificate
Truck Driving Academy
Heating, Ventilation & Air Conditioning (HVAC)
Cash Grant Combined With a Financing Program:
Projects which will have a significant economic impact and invest more than $5 million should consider this option.
Financing provides for interest only payments for 7 years.
At the end of Year 7, the principal on the note is due and is typically refinanced into a traditional loan with approximately 20% of the debt being forgiven if the project has hit its goals.
Cash Grant Component:
At the end of Year 7, if you have hit your goals, approximately 20% of the debt associated with the project is forgiven.
State of Texas Enterprise Fund:“Deal Closing Fund”
The better the project, the more likely you are to qualify for this cash.
Workforce Training Cash:
Texas Skills Development Fund
Up to $1,500/employee for customized training through a local college.
On-The-Job (OJT) Training Cash
Businesses may be reimbursed for up to half of a new employee’s wages while the employee learns the job, on the job, for up to 6 months.
OJT Participant Criteria:
New employees covered by an OJT agreement must be unemployed or underemployed.
Reimbursement depends on the wages paid to new employees and the length of training.
The length of training is negotiated based on the skills necessary to perform the job(s) and the new employees’ existing skills.
Limited to no more than 50% of the total workforce or new hires.
The maximum length of training is limited to no more than six months or 1040 hours.
Businesses that relocate and lay off workers at another location may not receive an OJT for 120 days after relocating.
Sales and Use Tax Refunds
Texas Enterprise Zone Program
Up to 5 years of refunds
Property Tax Abatements
Discuss attached matrix with Kevin
Total exemption for personal property, excluding petroleum products, which is detained in this state for a temporary period (175 days or fewer) for assembling, storing, manufacturing, processing or fabrication purposes.
Business and Industry Loan Guarantee
Loan guarantee up to $25 million to lenders for loans pertaining to business real estate, buildings, equipment, supplies, working capital, and debt refinancing. Lenders and borrower negotiate terms. Up to 30 years for real estate, 15 years for machinery and equipment, and 7 years for working capital.
Loan guarantee for up to 80% of the loan should get your company a better interest rate from the lender.
Guarantee is up to 80% for loans of $5 million or less
Guarantee is up to 70% for loans between $5 and $10 million
Guarantee is up to 60% for loans between $10 million and $25 million
Rural Business Development Loan and Grant program which is run through the local utility organization
The utility borrows the money for 10 years at 0% interest to create a revolving loan fund which they can lend to your project.
Money can be used for: Business expansion needs, fixed assets, real estate, buildings, equipment, or working capital.
Up to $1.3 million may be requested ($300,000 grant and $1 million loan)
Up to $50,000 used for: working capital, inventory or supplies, furniture or fixtures, and/or machinery or equipment
Maximum term is six years
Typical rates are between 8 and 13 percent
Other Loans available through local banks for assistance in acquiring, operating, or expanding a business.