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OIDC

Olney Industrial Development Corporation Board

Danny Stewart, President                              Stewart’s Food Store

Carl Craig, Vice President                              Geologist

Ronald Rogers                                                Rogers Drilling Co.

Mark McClelland                                             Tower Extrusions

Jim Hirsch                                                        Air Tractor

Wiley J. Hughey                                              Director of OIDC

 

Olney Industrial Development Corporation

The Olney Industrial Development Corporation is the

economic development arm for Olney, Texas.


    As the 4-A economic entity charged with the responsibility of creating jobs and helping the community grow and prosper, the OIDC is working hard to make various companies aware of the opportunities in Olney, as well as assisting existing businesses and industries.  

    The mission of the Olney Industrial Corporation is  to enhance the strength and stability of the Olney economy through the support of existing industry and the attraction of manufacturing and service sector business which bring new capital and employment opportunities into the community.

   Although the community of Olney has a population of 3,500, the surrounding six-county area provides a forty-five mile radius of potential employees in which to recruit. This represents a commute time of forty minutes or less with a total population of approximately 150,000. The main benefit of the work force in north central Texas is a tremendous work ethic and a productivity level that is second to none. 


STATE AND LOCATION FEATURES:
• Right to Work State, Available Labor Force
• Industrial Start-up Training Programs
• No Corporate Profits or Unitary Tax
• No Personal Income Tax
• Industrial Development Bond Financing
• Rural Development Loans

INCENTIVES:
• Tax Abatement: Considered on Individual Basis
• Enterprise Zone: Yes
• Industrial Foundation: Yes
• Other: OIDC half cent Industrial Sales Tax

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