ECONOMIC DEVELOPMENT
The City of Rice has an Economic Development Corporation Board dedicated to business and community development.
Economic development corporations generally are established to assist existing and new businesses located in a particular geographic area through a variety of activities including grants, loans, provision of information and expertise, creation of industrial parks, and more.
The Rice EDC receives annual revenue as a result of the Type B city sales tax. Type B sales tax is intended to give communities an opportunity to undertake a project for quality of life improvements, including economic development that will attract and retain primary employers. Cities may use money raised by this sales tax for a wide variety of projects including land, buildings, equipment, facilities expenditures and improvements.