Commissioners approve tax-exemption incentives for Project Hawk and XP Aerospace; property sale terms tied to job metrics

The Okaloosa County Board on July 14 approved economic-development incentives for two companies and cleared property-sale terms tied to job creation.

Nathan Sparks of the Okaloosa EDC presented Project Hawk, a supplier planning a 30,000‑square‑foot facility and a $4.3 million initial investment that the EDC said would create about 50 jobs at an average wage of $75,000. Staff described a 10‑year, performance‑based ad valorem tax exemption limited to new real and personal property and clarified an error in the draft ordinance’s tax-year range; the county attorney and EDC corrected the 10‑year timeline in the record prior to final approval.

The board also approved incentives for XP Aerospace Systems for an initial proof‑of‑concept facility in Valparaiso and a small equipment investment, noting the company’s high average wage projections for the positions reported. Both awards were described as performance‑based — annual reporting on job metrics is required and failure to meet metrics can disqualify a company for exemptions for the affected year.

In department business the board agreed to sale terms for a roughly 9.3‑acre parcel in the Okaloosa Air Industrial Park: half the purchase price could be forgiven if construction and job‑creation performance milestones are met; staff explained clawback provisions and a mechanism to re‑capture property if performance conditions are not satisfied. The board approved the property sale incentive and the two incentives unanimously.

Next steps: staff will finalize the corrected ordinance language, execute performance agreements, and monitor annual compliance reports required of the companies.