The City of Universal City is a 4B Economic Development Sales Tax city as directed by the Texas Development Corporation Act of 1979. The Act allows for municipalities to create nonprofit corporations, called development corporations, which promote the creation of new and expanded industry within the municipality and its vicinity. The development corporations operate separately from the municipalities, with boards of directors that oversee their efforts. In Universal City, economic development oversight is provided by the economic board called the Universal City Industrial Development Corporation (UCIDC).
Legislation provides that development corporations could be funded by the imposition of a local sales and use tax dedicated to economic development. In Universal City, an additional one-half cent sales tax for economic development was approved by voters. Authorized expenditure of proceeds includes such items as business attraction, incentives to businesses, land and building purchases/lease/upgrade, infrastructural upgrade and replacement in commercial areas, and training and education.
Businesspersons interested in pursuing an economic development project should contact Kim Turner, Development Services Director, at (210) 659-0333 ext 720 or via email.