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Grants
The EDC offers a valuable
service to new and expanding companies in the form of
assistance with state
and federal grants, and
business incentives.
Each year the EDC facilitates the application and
approval of millions of dollars worth of grants and
business incentives with the help of
Okaloosa County,
Okaloosa-Walton College, The University of West
Florida, The Okaloosa-Walton Workforce Board, the West
Regional Planning Council, and Enterprise Florida.
These grants have helped retain and
create hundreds of high wage, high skill jobs for the
residents of Okaloosa County.
|
Business Incentives and Grants
Awarded throughout Okaloosa County and to the EDC
Through OTTED
1999-2006 |
|
State Program |
Okaloosa Grantee |
$ Awarded |
|
Economic Development
Transportation Fund |
Crestview Aerospace
Corp., Aerospace Integration Corp., Manufacturing
Technology, Inc., Crystal Beach Development, North
American Turbines |
$10,100,144 |
|
Tax Refund
Qualified Defense Contractors |
BAE SYSTEMS |
$288,000 |
|
Tax Refund
Qualified Target Industry |
Bsafe Online, National
Electronics Warranty, Crestview Aerospace Corp., Aviation
Technology Group, Manufacturing Technology, Inc. |
$2,336,550 |
|
Incumbent Worker Training |
County Wide |
$753,568 |
|
Quick Response Training |
County Wide |
$612,675 |
|
Defense Reinvestment
Grants |
Economic Development
Council |
$907,063 |
|
Defense Infrastructure
Grants |
Okaloosa County |
$8,390,000 |
|
Total |
$23,388,000 |
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EDC Assisted Federal and State
Local Awarded Grants
Economic Development Transportation Fund Grant:
This state-administered program provides up to $2 million to
qualifying companies for the construction or improvement of
transportation infrastructure such as road and traffic
signals.
The local government body, with the
assistance of the EDC, applies on behalf of a company that is
considering an expansion or location of facilities and that
has an existing or anticipated transportation problem.
|
Year |
Total Award |
|
2005 |
$ 2,976,757 |
|
2004 |
$ 3,455,000 |
|
2003 |
$ 3,956,556 |
Quick Response Training Grant:
The Quick Response Training program
provides funding for customized training for new and expanding
businesses. Provides
rapid, effective start-up training tailored to meet a
company’s specific training needs. The average Quick Response
Grant per trainee is $650.
Through
this customer-driven program, the EDC is working to retain and
attract businesses creating high-quality jobs. The
program is administered through the local Workforce
Development Board.
|
Year |
Total Award |
|
2004 |
|
|
2003 |
$ 612,675 |
Incumbent Workers Program:
This program provides funding to upgrade the skills for
existing employees.
|
Year |
Total Award |
|
2005 |
$ 69,260 |
|
2004 |
$ 145,600 |
|
2003 |
$ 538,708 |
Qualified Target Industry Tax Program:
The Qualified Target Industry Tax
Refund Program is designed to encourage the expansion of
existing businesses or the location of new-to-Okaloosa County
businesses.
|
Year |
Total Award |
|
2004 |
$ 111,987 |
|
2003 |
$ 1,144,172 |
Defense Grants
In addition to the grants available to
local businesses, the EDC and Okaloosa County are eligible to apply for State
defense grants in
support of the local military installations.
Florida Defense
Infrastructure Grant:
The State of Florida offers a Defense
Infrastructure Grant program as a dual benefit program for
communities with military installations. They provide
essential infrastructure improvements and enhancements
throughout the county with little or no expense to the
military or local governments.
|
Fiscal Year |
Total Award |
|
2007 |
$ 350,000 |
|
2006 |
$ 225,000 |
|
2005 |
$ 400,000 |
|
2004 |
$ 540,000 |
|
2003 |
$ 400,000 |
Florida Defense
Reinvestment Grant:
The State of Florida offers
Defense Reinvestment Grants to Economic Development Organizations
in communities with a military dependence. They help guide the
EDO in providing greater marketing support to the existing
industry base resulting from the military presence.
|
Fiscal Year |
Total Award |
|
2007 |
$ 159,000 |
|
2006 |
$ 101,000 |
|
2005 |
$ 157,000 |
|
2004 |
$ 117,800 |
|
2003 |
$ 108,000 |
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Related Information:
_______________________________ |
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Web Developer
Kay Rasmussen
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