Central Texas, anchored by Austin, Round Rock, Georgetown, Temple, Killeen, and Waco, is one of the fastest-growing regions in the country. The region combines a thriving technology sector, a strong military presence at Fort Cavazos, growing manufacturing, and expanding healthcare systems. Business owners in Central Texas may be eligible for technology commercialization programs, workforce training grants, and local economic development incentives.
This guide covers the most relevant grants, loans, tax credits, and incentive programs for Central Texas business owners.
Federal Programs
SBIR/STTR Grants
Central Texas's technology ecosystem makes it one of the strongest regions in Texas for SBIR and STTR federal R&D grants. Austin-area companies have secured grants from NSF, DOD, NIH, DOE, and other federal agencies. Phase I awards start at $275,000.
SBA Lending
The SBA Austin District Office serves Central Texas. Businesses can access 7(a) loans, 504 loans for commercial real estate, and Microloans through CDFIs including PeopleFund and LiftFund.
Military Procurement
Fort Cavazos (formerly Fort Hood) generates significant federal procurement opportunities. The PTAC at UT Austin helps businesses navigate federal contracting requirements.
State Programs
Texas Enterprise Fund
Central Texas attracts TEF-supported projects across technology, manufacturing, and corporate headquarters. The TEF provides deal-closing grants for businesses creating jobs and capital investment.
Skills Development Fund
The TWC partners with Austin Community College, Temple College, Central Texas College, and McLennan Community College to provide customized workforce training grants for employers.
CPRIT Grants
The Cancer Prevention and Research Institute of Texas provides grants for cancer-related research and commercialization. Austin-area biotech and life sciences companies may qualify for CPRIT product development and commercialization grants.
Local Programs
- Austin Economic Development: Incentive programs for businesses in target industries including technology, clean energy, and creative industries.
- Round Rock EDC: Competitive recruitment packages for manufacturing, technology, and healthcare businesses.
- Georgetown EDC: Incentives for businesses relocating or expanding in one of Texas's fastest-growing cities.
- Waco Economic Development: Chapter 380 agreements and property tax abatements for qualifying projects.
- Killeen/Fort Cavazos Area: Military-adjacent economic development incentives.
Technology and Innovation Resources
- Capital Factory: Austin's largest accelerator with connections to government programs and SBIR coaching.
- ATI (Austin Technology Incubator): UT Austin's incubator for clean energy and technology companies.
- SBDC Technology Commercialization: Specialized advising for tech companies seeking federal grants.
Steps for Central Texas Business Owners
- Contact the Austin SBDC: Free consulting for program identification and application support.
- Explore SBIR/STTR: Technology companies should review federal R&D grant opportunities.
- Check local EDC incentives: Each Central Texas city offers different programs.
- Review workforce training: Partner with community colleges for Skills Development Fund grants.
- Get certified: HUB, WOSB, and SDVOSB certifications open procurement opportunities.
Find Programs That May Fit Your Business
Central Texas businesses have access to technology, workforce, and local incentive programs across a fast-growing region. Our screening report matches your business against all applicable programs. Start your free screening →