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.
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.
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 the investment is greater than $40 million or in an enterprise zone.
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.
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.
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.
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.
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.
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.