Economic Development

About Oak Point

The City of Oak Point is a community of approximately 4,200 residents located in the northeast quadrant of Denton County in north central Texas approximately 40 miles north of Dallas. Ranked in the top 20 of 63 suburbs in the Dallas area by D Magazine, Oak Point is located just south of U.S. Highway 380 equidistant between Denton and Frisco.

While our community, positioned on a scenic Lake Lewisville peninsula, provides a tranquil setting away from the pressures of a more urban environment, Oak Point is located just 10 miles from the Dallas North Tollway, 7 miles from IH-35E, and 25 miles from the Dallas/Fort Worth (DFW) International Airport.

Accessibility, location, and an excellent quality of life makes Oak Point a desirable place to live and do business.

Economic Development Corporation

In 2006, the City of Oak Point established a Section 4B Economic Development Corporation (EDC).  The EDC collects a 0.5% sales tax to be used towards community development initiatives, such as:

  • Buildings
  • Equipment
  • Expenditures
  • Facilities
  • Improvements for:
    • Affordable Housing
    • Entertainment and Tourist Facilities
    • New and Expanded Business Development, Including Retail Projects
    • Park Facilities and Events and Open Space Improvements
    • Professional and Amateur Sports Facilities
    • Water Supply Facilities or Water Conservation Programs (upon Approval of Voters) 
  • Land

Economic Development Incentives

The City of Oak Point is committed to the promotion and retention of high quality development within the City of Oak Point and to better the quality of life for its citizens. These objectives can often be attained by the enhancement and expansion of the local economy. To meet these objectives, the City of Oak Point will, on a case-by-case basis, consider providing economic development incentives to aid in the stimulation of economic development in Oak Point. These incentives may include:

  • Construction of Infrastructure
  • Fee Waivers
  • Loans or Grants
  • Personnel
  • Property Tax Abatements
  • Sales Tax Rebates
  • Tax Reinvestment Zones

Guidelines and criteria for economic development incentives are set forth in the City's Economic Development Incentives Program (PDF).