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Oklahoma Department of Commerce

Quality Investment Program

Estimated Incentive Cost

N/A

Program Type

Equity investment

Citation

74 O.S. sec. 5062.8A

Industry

Various

Sunset

None Found

Review Year

3
The Oklahoma Development Finance Authority can match dollar for dollar an investment enterprise's private capital for helping new and expanding businesses. An investment enterprise includes any corporation, limited partnership, or similar business entity, including entities qualifying as Small Business Investment Companies under applicable federal law. The primary function is to use private and public resources to build a more comprehensive and efficient financing infrastructure for businesses expanding or relocating in the state of Oklahoma.
Oklahoma Department of Commerce

Quick Action Closing Fund

Estimated Incentive Cost

$3,000,000

Program Type

Closing Fund

Citation

62 O.S.sec.48.2

Industry

Same as QJ

Sunset

None Found

Review Year

3
The fund is to be used for economic development and related infrastructure development when expenditure of funds is likely a determining factor in locating an high-impact business. In the 2013 legislative session the budget agreement included appropriating $3,000,000 to the Oklahoma Quick Action Closing Fund.
Oklahoma Center for the Advancement of Science and Technology

Technology Business Finance Program

Estimated Incentive Cost

N/A

Program Type

Equity investment

Citation

74 O.S. sec.5060.20a

Industry

Misc. Tech

Sunset

None Found

Review Year

3
TBFP provides Oklahoma tech start-up companies with pre-seed financing and early-stage risk capital to stimulate investments from private sources. TBFP is administered through a contract with i2E Inc. with awards ranging up to $100,000.
Oklahoma Tax Commission

Affordable Housing Act1

Estimated Incentive Cost

$4,000,000

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.403

Industry

Residential

Sunset

None

Review Year

3
An income tax credit, equal to the amount of federal low-income housing tax credit, not to exceed $4.0 million per allocation year, is allowed for qualified housing projects placed in service after July 1, 2015.
Oklahoma Tax Commission

Oklahoma Capital Gain Deduction

Estimated Incentive Cost

$114,835,000

Program Type

Deduction

Citation

68 O.S. sec. 2358

Industry

None

Review Year

2
Oklahoma Department of Commerce

Quality Jobs Program

Estimated Incentive Cost

$73,183,283

Program Type

Rebate

Citation

68 O.S. sec. 3601

Industry

Various

Sunset

None Found

Review Year

2
An incentive for companies to expand or relocated jobs to Oklahoma by providing a rebate of a portion of newly created payroll in the state. Companies may receive benefits during the first 3 years of participation while working to achieve the required payroll threshold for full qualification.
Oklahoma Department of Commerce

21st Century Quality Jobs

Estimated Incentive Cost

$5,704,426

Program Type

Rebate

Citation

68 O.S. sec.3911-3920

Industry

Multiple NAICS

Review Year

2
Incentive was created to attract growth industries and sectors to Oklahoma in the 21st century through a policy of rewarding businesses with a highly skilled, knowledge-based workforce. It also maximizes the eligible incentive payment by incorporation expanded state benefits by allowing a net benefit rate of up to 10% of payroll.
Oklahoma Department of Commerce

Small Employer Quality Jobs Program

Estimated Incentive Cost

$291,175

Program Type

Rebate

Citation

68 O.S. sec.3901

Industry

Basic Industry

Sunset

None Found

Review Year

2
Businesses with 90 employees or less that qualify are allowed to receive up to 5% cash-back incentive for up to 7 years to locate or expand in Oklahoma. Qualifying payroll must be attributable to annual salaries that are 110% to 125% of the average wage of the county in which the jobs are located.
Oklahoma Department of Commerce

Hi Impact Quality Jobs Program

Estimated Incentive Cost

$0

Program Type

Rebate

Citation

68 O.S. sec.3708

Industry

Basic Industry

Sunset

None Found

Review Year

2
Lowers annualized payroll threshold to $1 million for businesses that produce new direct jobs to the State that are equal to or greater than 1% of the total labor force of the county in which they locate. Payout is 2.5% of taxable wages for 6 years.
Oklahoma Insurance Department

Home Office Tax Credit

Estimated Incentive Cost

$18,927,316

Program Type

Tax credit

Citation

36 O.S. sec. 625. 1

Industry

Various

Sunset

None Found

Review Year

2
Insurance companies that locate or expand regional home offices in Oklahoma and maintain an employee level above 200 are eligible for special tax credits against the tax imposed in the Insurance Code. Annual credits range from 15% to 50% based on numbers of full time and year-round employees. This credit is not available to participants in the Quality Jobs Program.

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