THE
OKALOOSA-CRESTVIEW
ENTERPRISE ZONE
(EZ-4601)
In order to assist Okaloosa County, its residents, and the private sector in
productive business enterprises, the EDC applied to the Governor's office
for this economic designation in January 2002 and was awarded the zone.
In November 2005, the EDC submitted an application for the re-designation of
the Enterprise Zone and was awarded a term of up through December 31, 2015.
An Enterprise Zone is a specified
geographic area targeted
for economic revitalization. Enterprise zones encourage economic growth and
investment in distressed areas by offering tax advantages and incentives to
businesses locating or expanding within the zone boundaries while also
providing jobs.
The goal is
private business retention and expansion while providing jobs to low income
families and increasing the median pay scale.
The Okaloosa-Crestview Enterprise Zone is approximately 4 square miles
located in the northern section of Okaloosa County, half in the City of
Crestview, half in unincorporated Okaloosa County.
The Enterprise Zone program operates at both the state and federal
levels. The Governor’s Office of Tourism, Trade, and Economic Development (OTTED)
administers the Florida Enterprise Zone Program. OTTED is responsible for
overseeing the activities of the local enterprise zones and providing them
with technical assistance and information.
Enterprise Florida
works with OTTED in developing zone approval guidelines and determining
which communities would qualify for a zone designation.
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