Economic Incentives

​

AMERICA'S MOST COMPREHENSIVE INCENTIVE PROGRAM

Oklahoma is globally recognized for its outstanding incentive program and pro-business environment. Businesses can choose between a cash incentive or a tax credit package, and in some cases, qualifying businesses can take advantage of both programs.  

http://stateofsuccess.com/incentives/

​

QUALITY JOBS PROGRAM
This cash-back job creation incentive has moved the State of Oklahoma to the forefront as a location for new manufacturing and service industry investment. The innovative Oklahoma Quality Jobs Program allows qualifying businesses creating quality jobs to receive a special incentive to locate or expand in Oklahoma.

http://okcommerce.gov/assets/files/incentives/Quality_Jobs_Guidelines.pdf

​

INVESTMENT / NEW JOBS TAX CREDIT PACKAGE

This incentive, primarily targeted at manufacturing companies, allows a five-year tax credit on the greater of 1 percent per year of investment in qualified new depreciable property, or a credit of $500 per new job. These incentives double to 2 percent of new investment, or $1,000 per new job, if investment is greater than $40 million or in an enterprise zone.

http://stateofsuccess.com/incentives/

​

QUALITY JOBS + INVESTMENT TAX CREDITS

These incentives target manufacturing industries that have a large capital investment of at least $40 million in addition to creating new jobs that pay more than the state’s average wage. The incentives also allow a five-year tax credit on the greater of 2 percent per year of investment in qualified new depreciable property, or a credit of $1,000 per year per new job.

http://okcommerce.gov/assets/files/incentives/Quality_Jobs_Guidelines.pdf

SMALL EMPLOYER QUALITY JOBS

The Small Employer Quality Jobs Program provides quarterly incentive payments to a qualifying small employer (90 employees or less). Quarterly payments may be as much as 5% of new taxable payroll for up to 7 years. Qualifying payroll must be attributable to annual salaries that are at least 110% of the average wage of the county in which the jobs are located. Qualifying companies must also attain 75% out of state sales.

http://okcommerce.gov/assets/files/incentives/Small_Employer_Quality_Jobs_Guidelines.pdf

​

ECONOMIC DEVELOPMENT POOLED FINANCING

An incentive that targets job creation and infrastructure development by creating a financing mechanism for companies and communities. This financing tool uses withholding taxes and other revenue to satisfy debt service, create jobs and investment, and remain revenue-positive for Oklahoma.

http://okcommerce.gov/business/incentives/economic-development-pooled-financing/

​

SALES TAX REFUNDS

This incentive is available on construction materials for certain manufacturers and aircraft maintenance repair facilities, on purchases of computers, data-processing equipment and telecommunication equipment for certain aircraft facilities, and for purchases of computer services and data-processing equipment for qualified computer services or research and development companies.

http://okcommerce.gov/wp-content/uploads/2015/06/Oklahoma_Business_Incentives_and_Tax_Guide.pdf

​

CUSTOMIZED EMPLOYEE TRAINING

Oklahoma’s Training for Industry Program (TIP), a CareerTech initiative consistently ranked as one of the nation’s leading workforce training efforts, is a no-cost/low-cost way for new or growing companies that create jobs to get a skilled, focused and motivated workforce. Customized to meet your needs for training, assessment, supplies, instructional materials and more.

http://www.okcareertech.org/business-and-industry/business-development/training-for-industry-program

​

Five-Year Ad Valorem Tax Exemption
This incentive is available for manufacturing, research and development, warehouse and distribution, certain computer/data processing services, wind power, refineries, and aircraft repair.

http://okcommerce.gov/wp-content/uploads/2015/06/Oklahoma_Business_Incentives_and_Tax_Guide.pdf

​