Oklahoma Economic Development Directory

Oklahoma State Incentives

The QUALITY JOBS 10-YEAR CASH INCENTIVE provides cash payments of up to 5 percent of new payroll for up to 10 years. To qualify, the company must have an average county wage or $29,745, whichever is lower, achieve $2.5M annual payroll within 3 years, and offer basic health insurance. Target industries include: manufacturing, R&D including wind power manufacturing, corporate services, and data centers.

INVESTMENT/NEW JOBS TAX CREDIT PACKAGE: The program allows a company to choose between a tax credit based on investment or new employees. The 5-year tax credit applies to the greater of 1 percent per year of investment in new depreciable property of $500 per new employee and the credit doubles in Enterprise Zones and if the investment exceeds $40 million. Target industries include manufacturing and aircraft maintenance operations.

The 21ST CENTURY QUALITY JOBS 10-YEAR CASH BACK INCENTIVE requires at least 10 full-time jobs at an annual average wage of the lesser of $94,418 or 300 percent of the county’s average wage. It allows a net benefit rate of up to 10 percent of payroll for up to 10 years. To qualify, out-of-state sales must be at least 50 percent. Target industries include: knowledge-based service industries, including professional, scientific and technical services; music, film and performing arts; and specialty hospitals.

The PRIMEWIN PRIME CONTRACTOR INCENTIVE allows federal prime contractors to be paid for jobs and payroll created by both the prime contractor and a qualifying subcontractor. This incentive offers a cash rebate of up to 2 percent of the Oklahoma workforce loaded labor cost and cash incentives paid quarterly for up to 10 years. OSU-UML, as contract verifier, certifies the qualified labor hours performed under a qualifying federal contract.