Sept. 21, 2022
Buda Economic Development Corp Awards
Incentive Grants to Buda Businesses
BUDA, TEXAS — The Buda Economic Development Corporation (EDC) recently awarded four incentives to four businesses in Buda from its “Large Incentive Grant Funds” as approved by the Buda City Council. The businesses awarded incentives include JParks Saloon & Standard, Nighthawk Frozen Foods, TasTe On Main Restaurant, Inc., and Meridian.
“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, adding, “It is equally important to the EDC that it supports existing businesses that are rooted in Buda as well as new businesses.”
Buda Mayor Lee Urbanovsky said, “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.”
Vicky Rudy, interim executive director of Buda EDC explained that the purpose of incentive grants basically is 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.
Meridian (Zoi Market), situated at 200 Main Street, bills itself as a hub and destination for wellness, community, music and experience seekers. Buda EDC awarded Meridian $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.
Meridian Co-Owner Travis Sutherland said “Because of this grant, we can afford the infrastructure renovation. Our coffee and cocktail bar are now stocked with our new menu items … It was a game changer for us.”
Buda EDC awarded JParks Saloon & Standard $10,000 for permit reimbursement as well as 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.
Long-time Buda business, Nighthawk Frozen Foods, 100 Nighthawk Circle, received $60,000 in Buda EDC incentives for its more than $8 million capital investment to improve its facility and equipment.
Buda EDC awarded TasTe On Main Restaurant, 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.
Buda EDC’s Large Incentive Grant program has a rolling application, which is accessible online at https://budaedc.com/incentives. Contact Buda EDC at 512-295-2022 for more information about its grant programs.
About Buda Economic Development Corporation: Established in 2001, the Buda Economic Development Corporation is a Type B Economic Development Corporation. The Buda Economic Development Corporation is funded through a half cent sales tax. Their mission is to provide leadership in creating and pursuing balanced economic growth, by recruiting and retaining desirable, diverse businesses and developing infrastructure, while protecting the quality of life and natural resources in the region.