Oklahoma

Quick Facts

Oklahoma Governor Mary Fallin

Oklahoma Governor Mary Fallin

 

  • Capital: Oklahoma City
  • Population (2012 Est.): 3,814,820
  • Largest Cities (2012): Oklahoma City, 599,199; Tulsa, 393,987; Norman, 115,562; Broken Arrow, 102,019; Lawton, 98,376
  • Targeted Industries: Information & Financial Services, Transportation & Distribution, Aerospace & Defense, Energy, Agriculture & Biosciences
  • GDP (All Industry 2012): $160.9 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

oklahoma

Incentives

Quality Jobs (QJ) Incentive Program: Successful program that promotes job growth and helps improve a company’s bottom line by injecting cash back into a business as it expands and creates new jobs in Oklahoma. The QJ program provides a cash rebate up to 5% to companies that meet certain thresholds. In addition to requiring health insurance coverage, the thresholds include a requirement to create $2.5 million in payroll within three years and pay an average wage greater than the average county wage or $31,297, whichever is lower. In limited instances, the rebates may increase up to 6% for companies entering a second contract that pays 150% of their first contract or if the company hires veterans and veterans account for when at least 10% of the company’s jobs.

Small Employer Quality Jobs Program: Provides incentive payments to a qualifying small employer. The payments may reach as high as 5% of new taxable payroll and last for up to seven years. Qualifying payroll must be attributable to annual salaries that are at least 110% to 125% of the average cohort wage of small businesses in the county where the jobs are located.

21st Century Quality Jobs 10 Year Cash Incentive: The first of its kind, this new incentive was created in 2009 to attract knowledge-based companies to Oklahoma through a policy of rewarding businesses with a highly skilled and compensated workforce. For industries that require out-of-state sales in the Quality Jobs Program, this incentive reduces out-of-state sales requirements from 75% to 50%. Additionally, it requires only 10 full-time jobs at an annual wage of the lesser of $94,000 or 300% of the county’s average wage. If a company meets the thresholds and creates high paying jobs, then it will allow a net benefit rate of up to 10% of payroll.

Foreign Trade Zones: U.S. Customs Duty Management Program where manufacturers and distributors located in Foreign Trade Zones—since for Customs purposes, are considered to reside outside the U.S.—benefit from cost savings and flexibility. Businesses engaged in international trade within these Zones benefit from special customs procedures when importing and when warehousing, manufacturing or assembling with imported goods that remain in bond under Customs Control. Subzones may be established for single purpose manufacturing/fabricating and distribution operations. There are four Zones in Oklahoma: Port of Muskogee (FTZ #164) and the Tulsa Port of Catoosa (FTZ #53), which are both on the McClellan Kerr Arkansas River Navigation System, providing rail, barge and truck transportation services from Oklahoma to ports throughout the world; the Port Authority at Will Rogers World Airport of the Greater Oklahoma City Area (FTZ #106), Oklahoma City; and the International Business Park in Durant (FTZ #227).

Freeport Inventory Benefits: Exempts from taxation goods, wares and merchandise that come from outside the state and leave the state within nine months if such goods, wares and merchandise are held for assembly, storage, manufacturing, processing or fabricating purposes within the state.

FINANCING

Oklahoma Quick Action Closing Fund: Established in the 1st Session of the 53rd Oklahoma Legislature in House Bill 1953, it can be expended by the Governor for economic development and related infrastructure development to locate a high-impact business project or facility in Oklahoma or retain such a facility in the State. The business making an application must be engaged in a business activity that is eligible for Oklahoma Quality Jobs Program Act incentive payments (68 O.S. § 3603) or in a “basic industry” as set forth in the 21st Century Quality Jobs Incentive Act (68 O.S. § 3913).

State Small Business Credit Initiative: The State of Oklahoma was awarded $13,168,350 by the U.S Treasury for the State Small Business Credit Initiative. The award will be used to make capital investment in new and expanding small businesses in Oklahoma. i2E will manage the funds on behalf of the State of Oklahoma. For more information please contact i2E at (405) 235- 2305 or www.i2e.org.

Oklahoma Quality Events Program: If incremental sales taxes are greater in a community as the result of hosting a quality event, this incentive program allows the Oklahoma Tax Commission to make a payment of no more than $250,000 to the host community for eligible expenses resulting from hosting the Quality Event. “Quality Event” is a meeting of the members for a nationally recognized organization. Additionally, in order to be considered a quality event for the incentive, the site selection process must be a competitive process in which at least one site not located in Oklahoma was considered by the organization. Eligible expenses are those expenses that are:

  • Paid by the local government entity from the general revenue fund or a locally imposed tax.
  • Paid to either the certified sponsor of the Quality Event or paid to a for-profit or nonprofit entity through the certified sponsor.
  • Used for advertising, promoting, organizing or otherwise supporting the Quality Event.

If the host community meets the other statutory requirements, it is eligible to be reimbursed for the eligible expenses from incremental state sales tax revenue collected from a period of up to two days prior to and to two days after the last day of the Quality Event. Additionally, the state sales taxes that are captured for reimbursement must occur no more than 13 miles from the property lines of the primary property for the Quality Event.

Oklahoma Community Economic Development Pooled Finance: Creates a financing incentive that targets job creation and infrastructure development; and a foundation of ensuring Oklahoma’s infrastructure is high quality for attracting and retaining jobs. A $100 million Infrastructure Pool is created for public financing to local governments issued through the Oklahoma Development Finance Authority. The Infrastructure Pool revenue must be used for infrastructure development. Bonds issued from the Infrastructure Pool are financed or repaid from taxes voted on by local community. A $100 million Economic Development Pool is created for public finance to local governments in conjunction with a for-profit entity through ODFA.

The Economic Development Pool shall be used for economic development projects in the state. Debt issued from the Economic Development Pool may be paid from withholdings taxes, and other revenue, at the for-profit entity benefitted by the financing. For debt obligations issued under this act, there is a maximum maturity of 25 years and a maximum coupon rate of 14%. 65% of the net proceeds from both the Infrastructure Pool and the Economic Development Pool shall be used by ODFA for municipalities that do not exceed 300,000 people. The remaining 35% may be used by the ODFA for any eligible local government. Effective September 1, 2010 an evergreen clause permits the renewal of issuing capacity by ODFA.

CDBG/EDIF: Grants of up to $500,000 are available to Oklahoma companies for business expansion, or up to $1 million for new out-of-state companies who are moving their business to Oklahoma and based upon new jobs and leverage. Companies must pay at least 110% of average county wage for all new jobs. At least 51% of the new jobs must be made available to low and moderate-income persons. Tax Increment Financing and local incentives vary by location.

Oklahoma Film Act: The Oklahoma Film Enhancement Rebate Act allows a rebate of up to 37% of qualified expenditures made in Oklahoma that are directly attributable to film, television production, television commercial and theater. Qualifying Expenditures for productions include the cost of construction and operations, photography, sound synchronization, wages and wardrobe, facilities and related services. The minimum budget for the project shall be $50,000 with a minimum of $25,000 spent in Oklahoma. In addition to the rebate, the State of Oklahoma offers a Point-of-Purchase sales tax exemption to qualifying productions on sales tax paid for property or services to be used in productions. The POP Sales Tax Exemption cannot be used in conjunction with the rebate, and there is no minimum budget or expenditure requirement.

Oklahoma Capital Access Program: The Oklahoma Capital Investment Board (OCIB) manages this easy-to-use economic service program that encourages additional business lending activity. It provides a “credit insurance” reserve for Oklahoma banks through a fee matching arrangement for loans enrolled in the program. It gives banks additional resources to finance economic development and community reinvestment activities. For more information visit www.OCIB.org.

TAX INCENTIVES

Investment/New Jobs Tax Credit: Provides growing manufacturers a significant corporate income tax credit based on either an investment in depreciable property OR on the addition of full-time-equivalent employees engaged in manufacturing, processing, or aircraft maintenance.  The tax credit is equal to 1% of the investment OR $500 per job, whichever is higher. The tax credit is doubled for locations in an Enterprise Zone.

CLICK THIS LINK FOR MORE INCENTIVES

State Listings

  • Oklahoma Department of Commerce

    Charles Kimbrough
    Director of Recruitment
    900 North Stiles Avenue
    Oklahoma City, OK 73104
    P: 405-815-5361
    [email protected]
    www.okcommerce.gov

Utility Listings

  • American Electric Power (AEP), Public Service Company of Oklahoma

    Janet Smith
    Manager, Economic Development
    212 East Sixth Street
    Tulsa, OK 74119
    P: 918-599-2405
    [email protected]
    www.aep.com
  • Kiwash Electric Cooperative, Inc.

    Dennis Krueger
    General Manager
    120 West First Street, P.O. Box 100
    Cordell, OK 73632
    P: 580-832-3361
    [email protected]
    www.kiwash.coop
  • OG&E Electric Services

    Richard Clements
    Manager of Economic Development
    P.O. Box 321, MC 206
    Oklahoma City, OK 73101
    P: 405-553-3974
    [email protected]
    www.oge.com

Regional Listings

  • Claremore/Rogers County Partnership

    Mickey Thompson
    Executive Director
    1503 North Lynn Riggs Boulevard, Suite D
    Claremore, OK 74017
    P: 918-343-8959
    [email protected]
    www.crcpartnership.com
  • Kiamichi Economic Development District

    Danny Baldwin
    Executive Director
    1002 Highway 2 North
    Wilburton, OK 74578-0638
    P: 800-722-8180
    [email protected]
    www.keddo.org
  • MidAmerica Industrial Park

    Ted Allison, CEcD
    Director of Economic Development
    P.O. Box 945
    Pryor Creek, OK 74362-0945
    P: 918-825-3500
    [email protected]
    www.maip.com
  • PREDCI (Panhandle Regional Economic Development Coalition Inc.)

    Vicki Ayres-McCune
    Executive Director
    802 NE 6th Street
    Guymon, OK 73942
    P: 580-338-8500
    [email protected]
    www.predci.com
  • REI Oklahoma

    Sherry Harlin
    Business Development Director
    212 Enterprise Boulevard
    Durant, OK 74701
    P: 580-924-5094
    [email protected]
    www.reiok.org/
  • Southern Oklahoma Development Association (SODA)

    Tommy Shepard
    Executive Director
    2704 North 1st Street, P.O. Box 709
    Durant, OK 74702-0709
    P: 580-920-1388
    [email protected]
    www.soda-ok.org
  • Tri-County Indian Nation Community Development Corporation (Tri-County OK)

    Amy Childers Elliott
    Executive Director
    1306 East Arlington, P.O. Box 1524
    Ada, OK 74821
    P: 580-310-9300
    [email protected]
    www.tri-countyok.org
  • Tulsa Metro Chamber

    Justin McLaughlin, CCE, CEcD
    Senior Vice President, Economic Development
    2 West Second Street, Suite 150
    Tulsa, OK 74103
    P: 918-560-0240
    [email protected]
    www.growmetrotulsa.com

County Listings

  • Major County Economic Development Corporation

    JaNae Barnard
    Project Manager
    2004 Commerce Street, P.O. Box 303
    Fairview, OK 73737
    P: 580-227-2512
    [email protected]
    www.okmajordev.org
  • Rogers County Development

    Mickey Thompson
    Executive Director
    1503 North Lynn Riggs Boulevard, Suite D
    Claremore, OK 74017
    P: 918-343-8959
    [email protected]
    www.rcdoklahoma.com/

City Listings

  • Ada Jobs Foundation

    Michael Alan Southard, AICP, EDFP
    President & CEO
    209 West Main
    Ada, OK 74820
    P: 580-235-0070
    [email protected]
    adaworks.org
  • Anadarko Economic Development Authority

    Jerry Marcum
    Acting Trust Manager
    501 West Virginia Avenue
    Davenport, OK 73005
    P: 405-247-2481
    [email protected]
    aeda.anadarko.org
  • Ardmore Development Authority

    Brian Carter
    President & CEO
    410 West Main, P.O. Box 1585
    Ardmore, OK 73402
    P: 580-223-6162
    [email protected]
    www.ardmoredevelopment.com
  • Bartlesville Development Corporation (BDC)

    David Wood
    President & CEO
    201 SW Keeler
    Bartlesville, OK 74003
    P: 918-336-7371
    [email protected]
    www.bdcok.org
  • Blackwell Industrial Authority

    John Robertson
    Director
    120 South Main, P.O. Box 150
    Blackwell, OK 74631
    P: 580-363-2934
    [email protected]
    www.blackwellindustrialauthority.com
  • Broken Arrow Area Chamber of Commerce

    Wes Smithwick
    President & CEO
    210 North Main Street, Suite C
    Broken Arrow, OK 74013
    P: 918-251-1518
    [email protected]
    www.brokenarrowchamber.com
  • Chickasha Economic Development Council

    Christy Elkins
    Economic Development Director
    USAO Campus, Canning Hall, First Floor, 1727 West Alabama Avenue
    Chickasha, OK 73018
    P: 405-574-3477
    [email protected]
    www.chickashaedc.com/
  • City of Collinsville

    Pamela J. Polk, MAS, ACPFIM
    City Manager
    106 North 12th Street
    Collinsville, OK 74021
    P: 918-371-1010, ext. 2012
    [email protected]
    www.cityofcollinsville.com
  • City of Elk City

    Anita B. Archer
    City Manager
    P.O. Box 1100
    Elk City, OK 73648
    P: 580-225-3230
    [email protected]
    www.elkcity.com
  • City of Glenpool

    Lynn Burrow
    Director of Community Development
    12205 South Yukon Avenue, P.O. Box 70
    Glenpool, OK 74033
    P: 918-322-5409
    [email protected]
    www.glenpoolonline.com
  • City of Weatherford Economic Development Department

    Chuck Dougherty
    Director
    522 West Rainey Avenue
    Weatherford, OK 73096
    P: 580-774-4505
    [email protected]
    www.cityofweatherford.com
  • Cushing Industrial Authority

    Brent Thompson
    Executive Director
    1301 East Main
    Cushing, OK 74023
    P: 918-225-2400
    [email protected]
    www.cushingchamber.org
  • Duncan Area Economic Development Foundation

    Lyle L. Roggow
    President
    8100 North Hwy. 81
    Duncan, OK 73533
    P: 888-254-9675
    [email protected]
    www.ok-duncan.com
  • Durant Area Chamber of Commerce

    Janet Reed
    Executive Director
    215 North Fourth Avenue
    Durant, OK 74701
    P: 580-924-0848
    [email protected]
    www.durantchamber.org
  • Edmond Economic Development Authority

    Janet Yowell
    Executive Director
    825 East Second Street, Suite 200
    Edmond, OK 73034
    P: 405-340-0116
    [email protected]
    www.eeda.com
  • Enid Regional Development Alliance

    Brent Kisling
    Executive Director
    2020 Willow Run, Suite 135
    Enid, OK 73703
    P: 580-233-4232
    [email protected]
    www.growenid.com
  • Greater Oklahoma City Partnership

    Kurt Foreman
    Executive Vice President, Economic Development
    123 Park Avenue
    Oklahoma City, OK 73102
    P: 405-297-8945
    [email protected]
    www.greateroklahomacity.com
  • Kingfisher Chamber of Commerce

    Carly Franks
    President
    123 West Miles Avenue
    Kingfisher, OK 73750
    P: 405-375-4445
    [email protected]
    www.kingfisher.org
  • Lawton/Ft. Sill Chamber of Commerce

    Debra Burch, IOM
    President & CEO
    302 West Gore Boulevard
    Lawton, OK 73501
    P: 580-355-3541
    [email protected]
    www.lawtonfortsillchamber.com
  • McAlester Chamber of Commerce

    Tanaye Harvanek
    President & CEO
    101 South 2nd Street, P.O. Box 759
    McAlester, OK 74502
    P: 918-423-2550
    [email protected]
    www.mcalester.org
  • Miami Area Economic Development Service, Inc.

    Judee Snodderly, EDFP
    Executive Director
    2 North Main Street, Suite 415
    Miami, OK 74354
    P: 918-542-8405
    [email protected]
    www.miami-ok.org
  • Midwest City Chamber of Commerce

    David Burnett
    Economic Development Director
    5905 Trosper Road, P.O. Box 10980
    Midwest City, OK 73140
    P: 405-733-3801
    [email protected]
    www.midwestcityok.com
  • Moore Economic Development Authority

    Deidre Ebrey
    Director of Economic Development & Marketing
    301 North Broadway
    Moore, OK 73160
    P: 405-793-5224
    www.cityofmoore.com/econdev
  • Muskogee Business & Economic Development Office

    Marie Seabolt
    Acting Director
    216 West Okmulgee
    Muskogee, OK 74401
    P: 918-683-2816
    [email protected]
    www.muskogeedevelopment.org
  • Norman Chamber of Commerce

    John Woods
    President & CEO
    115 East Gray
    Norman, OK 73070
    P: 405-321-7260
    [email protected]
    www.normanchamber.com
  • Norman Economic Development Coalition, Inc.

    Don Wood, CEcD
    Executive Director
    710 Asp Avenue, Suite 100
    Norman, OK 73069
    P: 405-573-1900
    [email protected]
    www.nedcok.com
  • Okmulgee Area Development Corporation (OADC)

    Bob Klabenes
    Director, Economic Development
    111 East 4th Street, P.O. Box 250
    Okmulgee, OK 74447
    P: 918-758-1131
    [email protected]
    www.okmulgeedevelopment.com
  • Pauls Valley Chamber of Commerce

    James Frizell
    City Manager
    112 East Paul Avenue
    Pauls Valley, OK 73075
    P: 405-238-3308, ext. 101
    [email protected]
    www.paulsvalley.com
  • Perry Chamber of Commerce

    Brett Powers
    President & CEO
    327 North 7th, P.O. Box 426
    Perry, OK 70377
    P: 580-336-4684
    [email protected]
    www.perryokchamber.com
  • Ponca City Development Authority

    David Myers
    Executive Director
    102 S. 5th Street
    Ponca City, OK 74601
    P: 580-765-7070
    [email protected]
    www.goponca.com
  • Sand Springs Economic Development

    Rocky Rogers
    City Manager
    100 East Broadway, P.O. Box 338
    Sand Springs, OK 74063
    P: 918-246-2500, ext. 2502
    [email protected]
    www.sandspringsok.org
  • Seminole Chamber of Commerce

    Amy Britt
    Executive Director
    326 East Evans, P.O. Box 1190
    Seminole, OK 74868
    P: 405-382-3640
    [email protected]
    www.seminoleokchamber.org
  • Shawnee Economic Development Foundation

    Tim Burg
    Executive Director
    131 North Bell, Suite 208
    Shawnee, OK 74801
    P: 405-273-7490
    [email protected]
    www.sedf.biz
  • Stillwater Chamber of Commerce

    Juliet Abdeljawad
    Director of Business Development
    409 South Main Street
    Stillwater, OK 74074
    P: 405-372-5573
    [email protected]
    www.stillwaterchamber.org
  • Stroud Industrial Authority

    Fran Wood
    Director
    P.O. Box 500
    Stroud, OK 74079
    P: 918-968-4043
    [email protected]
    www.cityofstroud.com
  • Talihina Chamber of Commerce

    Vera Nelson
    Executive Director
    900 2nd Street, Suite 12
    Talihina, OK 74571
    P: 918-567-3434
    [email protected]
    www.talihinacc.com
  • Tonkawa Development Authority/Chamber of Commerce

    Janet Purdy
    Executive Director
    102 East Grand
    Tonkawa, OK 74653
    P: 580-628-2220
    [email protected]
    www.tonkawachamber.org/
  • Wagoner Chamber of Commerce

    Meredith Zehr
    Executive Director
    301 South Grant Street
    Wagoner, OK 74467
    P: 918-485-3414
    [email protected]
    www.thecityofwagoner.org
  • Warner Chamber of Commerce

    Roger Thomason
    President
    P.O. Box 170
    Warner, OK 74469-0009
    P: 918-463-2696

  • Watonga Chamber of Commerce

    Mary Larson
    Administrative Director
    P.O. Box 537
    Watonga, OK 73772
    P: 580-623-5452
    [email protected]
    www.watongachamber.com/
  • Waurika Chamber of Commerce

    Jon Waid
    President
    P.O. Box 366
    Waurika, OK 73573
    P: 580-228-2326
    [email protected]
    www.waurikachamber.com
  • Waynoka Chamber of Commerce

    Juli Bowen
    Director
    1565 Main Street, P.O. Box 173
    Waynoka, OK 73860
    P: 580-824-4741
    [email protected]
    www.waynokachamber.com
  • Wilburton Chamber of Commerce

    Mike Mooney

    302 West Main Street
    Wilburton, OK 74578
    P: 918-465-2759
    [email protected]
    www.wilburtonchamber.com
  • Woodward Chamber of Commerce

    C.J. Montgomery
    President
    1006 Oklahoma Avenue, P.O. Box 1026
    Woodward, OK 73802
    P: 580-256-7411
    [email protected]
    www.woodwardchamber.com
  • Woodward Industrial Foundation

    LaVern W. Phillips
    President
    P.O. Box 1026
    Woodward, OK 73802-1026
    P: 580-254-5616
    [email protected]
    www.wifok.com
  • Wynnewood Chamber of Commerce

    Tabitha Hayes
    President
    P.O. Box 616
    Wynnewood, OK 73098
    P: 405-665-4466
    [email protected]
    www.wynnewoodchamber.com
  • Yukon Chamber of Commerce

    Paisley Hopkins
    Executive Director
    510 Elm Avenue
    Yukon, OK 73099-2525
    P: 405-354-3567
    [email protected]
    www.yukoncc.com