The Clay County Development Authority was established by a special act of the Florida Legislature in 1957 for the principal purpose of promoting sound economic development of Clay County. They are a strategic partner with the Clay County Economic Development Corporation, Clay County Chamber of Commerce, numerous businesses and other local, regional and state agencies to improve the quality of life for residents. The members of the Development Authority are appointed by the Governor and serve four-year terms.

The Development Authority has contributed a great deal to diversifying the local economy through growth of value-added businesses.

Notable examples of their work include:

• establishing Harbor Road Industrial Park
• assisting numerous business recruitment and retention projects
• providing industrial revenue bond financing for employers
• financing capital improvements
• assisting with health care and education bond financing