- Oak Point EDC
Oak Point EDC
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.
The community is positioned on a scenic Lewisville Lake, Oak Point is located just 10 miles from the Dallas North Tollway, seven miles from IH 35E, and 25 miles from the Dallas/Fort Worth (DFW) International Airport. Accessibility, proximity, and an exceptional quality of life make Oak Point a desirable place to live, work, and play.
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:
- 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)
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
- 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).
The Economic Development Corporation is dedicated to providing a variety of tools to businesses wanting to locate in Oak Point. We work closely with companies to build on the strengths of Oak Point to promote existing businesses and recruit new businesses.
- Our partnerships with the State of Texas Office of Economic Development… .. companies will receive access to all the appropriate incentives you qualify for to help your business thrive in Oak Point.
- Depending on … we can provide economic development assistance for land, buildings, equipment, facilities and improvements.
- Off retail development assistance to promote and develop new and expanded retailed development.
- For additional information, please visit the Oak Point EDC page