For Texas businesses seeking substantial capital, some government programs offer awards measured in hundreds of thousands or even millions of dollars. This guide ranks the largest grant and incentive programs by documented maximum award amounts. These are factual figures based on program guidelines and published awards — larger amounts come with more stringent eligibility requirements and greater competition.
Texas Enterprise Fund
Maximum award: Tens of millions (varies by project; historical awards have exceeded $50 million)
Type: State discretionary grant
Administered by: Governor's Office of Economic Development and Tourism
The Texas Enterprise Fund is the state's largest deal-closing incentive. TEF awards are negotiated on a project-by-project basis and are reserved for companies making major expansion or relocation decisions where Texas is competing with other states. Individual awards are tied to job creation and capital investment commitments, and the company must deliver on those commitments or return the funds.
CPRIT Cancer Research Grants
Maximum award: Several million per project (program-wide annual budget exceeds $300 million)
Type: State competitive grant
Administered by: Cancer Prevention and Research Institute of Texas
CPRIT funds cancer research, prevention, and product development at a scale unmatched by any other state program in the country. Individual awards for product development can reach several million dollars. The program serves both academic researchers and commercial entities developing cancer-related products and technologies in Texas.
SBIR Phase II
Maximum award: $500,000 to $1.5 million (varies by agency)
Type: Federal competitive grant
Administered by: 11 federal agencies
SBIR Phase II awards fund the full development of technologies that demonstrated feasibility in Phase I. Some agencies allow Phase II awards up to $1.5 million, and sequential Phase II awards for continued development are possible in some programs. Startup grants guide.
USDA REAP Loan Guarantees
Maximum amount: $25 million (loan guarantee); $1 million (grant)
Type: Federal grant and loan guarantee
Administered by: USDA Rural Development
While the grant component of REAP caps at $1 million, the loan guarantee component can support projects up to $25 million. For rural Texas businesses making major energy investments, this is one of the largest government financing tools available. Rural business grants guide.
Skills Development Fund
Maximum award: Multi-million dollar awards for large projects
Type: State workforce training grant
Administered by: Texas Workforce Commission
The Skills Development Fund has awarded multi-million-dollar grants for large-scale workforce training projects, particularly in manufacturing, healthcare, and technology sectors. Awards are proportional to the number of workers trained and the scope of the training program. Workforce training grants guide.
SBA 504 Loans
Maximum amount: $5.5 million (standard); higher for energy and manufacturing
Type: Federal government-backed loan
Administered by: SBA through Certified Development Companies
The SBA 504 program provides long-term, fixed-rate financing for major capital investments. While this is a loan, not a grant, the government backing provides terms that are significantly more favorable than conventional financing for large projects. SBA loans vs grants comparison.
Federal Historic Preservation Tax Credit
Maximum amount: 20% of qualified rehabilitation expenditures (no dollar cap)
Type: Federal tax credit
Administered by: National Park Service and IRS
The federal historic tax credit has no dollar cap — it is 20% of whatever you spend on qualifying rehabilitation of certified historic structures. For major Texas rehabilitation projects costing $10 million or more, the credit can exceed $2 million. Real estate tax credits guide.
Local Property Tax Abatements
Maximum amount: Varies by jurisdiction (can reach millions in avoided taxes over the abatement period)
Type: Local tax incentive
Administered by: City and county governments
For businesses making large capital investments in Texas, property tax abatements can represent millions of dollars in avoided taxes over a 5- to 10-year abatement period. The value depends on the investment size, local tax rates, and the percentage and duration of the abatement.
Understanding the Tradeoffs
Larger awards come with greater requirements:
- More competition: Programs with larger awards attract more applicants and have lower success rates.
- More documentation: Applications for large awards require extensive financial documentation, detailed project plans, and sometimes environmental or technical assessments.
- More compliance: Larger grants carry more stringent reporting requirements, auditing provisions, and clawback provisions if you fail to meet commitments. Grant reporting requirements.
- More time: Application and review cycles for large programs can take 6 to 18 months.
Bottom Line
Texas offers some of the largest business incentive programs in the country, from the Texas Enterprise Fund's multi-million-dollar awards to CPRIT's cancer research grants and SBIR's innovation funding. The largest programs require the most preparation, documentation, and patience, but the potential returns on that investment can be transformative for qualifying businesses.
Not sure which programs may fit your business? Our free screening report checks your business against 150+ verified programs — grants, tax credits, loans, and incentives — and shows you which ones may match. Start your free screening →