Incentives

Incentives

The Economic Development Council along with Okaloosa County and the State of Florida are committed to providing business assistance programs that will make it easier for companies to expand and develop within our county. The EDC is responsible for coordinating the state business incentive programs through Enterprise Florida, Inc., the State’s legislatively designated economic development organization, and the Governor’s Department of Economic Opportunity (DEO).
 
 
The EDC is the conduit for these incentives between the local and state government and our community businesses. In our role as a business advocate  and concierge, we assist by connecting to local resources, paving the way with regulatory bodies.

Economic Development Ad Valorem Tax Exemption

The Economic Development Ad Valorem Tax Exemption (EDATE) is a local option tax incentive for new or expanding businesses and is granted at the discretion of the Okaloosa County Board of County Commissioners and/or the City of Fort Walton Beach, City of Crestview, City of Destin, City of Mary Esther and the City of Valparaiso.

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Qualified Target Industry (QTI)

The Qualified Target Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries.

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High Impact Performance Incentive Grant (HIPI)

The High Impact Performance Incentive is a negotiated grant used to attract and grow major high impact facilities in Florida.

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Economic Development Transportation Fund (EDTF)

Application is made by the city/county to the state of Florida to fund the cost of transportation projects necessary for the location, expansion, or retention of a qualified business or industry in Florida.

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Quick Response Training Grant (QRT)

An inducement program for job creation and retention. In addition to actual employee training, the grant may cover the cost of acquiring specialized equipment, retaining an instructor, and provision of a training facility (if required) necessary for the conduct of the training program.

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Incumbent Worker Training Grant (IWT)

The Incumbent Worker Training Program provides grant funding for customized training for existing for-profit businesses.

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Capital Investment Tax Credit, (CITC)

Annual credit against Florida corporate income taxes for certain approved industry sectors (Financial Services, Biomedical Technology, Silicon Technology, Transportation Equipment Manufacturing).

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