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Texas Product Development Fund is a grant from the Texas Economic Development Bank that funds the development and production of new or improved products in Texas. Established by the Texas CHIPS Act successor legislation and administered by the Economic Development Bank under the Governor's Office, the fund provides financing to businesses in Texas commercializing innovative products.
Eligible applicants are businesses operating in Texas that are developing or improving products for commercialization. Awards are up to $250,000. The fund is a revolving fund re-established in 2003 and is funded through bond proceeds, loan repayments, application fees, and appropriations.
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Texas Product Development Fund | Funds and General Revenue Accounts | Texas Comptroller Manual of Accounts | Fiscal 2026 Manual of Accounts - Comptroller Object Codes Texas Comptroller of Public Accounts State of Texas – Fiscal Management Fund 0589 – Texas Product Development Fund Texas Constitution art. XVI sec. 71 Government Code sec.
489. 211 Origin Date: 2003 by S. B.
275 and H. B. 3318, 78th Leg.
, R. S. Re-established as a revolving fund in the treasury from bond proceeds, application fees, loan repayments, guarantee fees, royalties, dividend income, appropriations, federal grants and any other authorized sources.
Includes capital access program amounts transferred from the Economic Development Bank (GR Account 5106). The fund contains a program account, an interest and sinking account and other authorized accounts. Used for administration and to provide financing to aid in the development and production of new or improved products in this state.
May be used for debt service, bond redemption or any associated costs. Group 02: Constitutional Funds Expendable for a Specific Purpose Credited to GR Account -- Economic Development Bank (5106) General Appropriations Act current revenue and expenditure activity by agency or comptroller object code, visit the following links: Cashdrill - Activity by Agency Cashdrill - Activity by Object Previously under Government Code sec. 481.
222. H. J.
R. 51, 71st Leg. , R.
S. , approved by the voters Nov. 7, 1989, added Texas Constitution art.
XVI, § 71 authorizing the fund to receive revenue from loan repayments and make debt service payments on the authorized general obligation bonds issued. Amended by H. B.
1860, 71st Leg. , R. S.
The fund was repealed by S. B. 932, 75th Leg.
, R. S. effective 9-1-97, but was recreated by S.
B. 275, 78th Leg. , R.
S. under Government Code sec. 489.
211. H. B.
3578, 83rd Leg. , R. S.
added transfers from GR Account 5106 - Economic Development Bank. H. B.
1515, 88th Leg. , R. S.
amends statute and directs the Economic Development Bank (Governor’s Office) to wind up the investment portfolio and upon completion, deposit any remaining earnings to GR Account 5106. 02 - CONSTITUTIONAL FDS EXP FOR SPECIFIC PURP Created by the state's constitution or receiving constitutionally dedicated revenue and expended for a specific purpose.
According to the current listing, eligibility includes: Businesses in Texas commercializing innovative products. Confirm the full requirements in the official notice before applying.
The current listing shows up to $250,000. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Texas Product Development Fund is funded by Texas Economic Development Bank. Verify program details on the funder's official page before applying.
This opportunity targets applicants in Texas. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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