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Schedule

OCAST

Oklahoma Health Research

Estimated Incentive Cost

$3,000,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Sections 5046 - 5055

Industry

N/A

Review Year

3
The purpose of the program is to help recruit and retain well-qualified health research scientists for the State, improve the competitiveness of Oklahoma-based investigators for national research funds, improve health care for the citizens of Oklahoma, and strengthen the State's health care industry. Research funded under this program investigates the causes, diagnosis, treatment and prevention of human diseases and disabilities and facilitates the development of health care products and services.
OCAST

Oklahoma Applied Research

Estimated Incentive Cost

$2,750,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Section 5060.2 74 O.S., Section 5060.19 74 O.S., Section 5060.4

Industry

N/A

Review Year

3
The purpose of the OARS program shall be two-fold. First, it shall assist in the accelerated development of technology in the state by supporting applied research activities in existing and emerging technical areas in which the results have (1) a high probability of leading to commercially successful products, processes or services within a reasonable period of time and (2) a significant potential for stimulating economic growth within the state of Oklahoma. Secondly, the program shall encourage and sustain partnerships among institutions of higher education, non-profit research organizations and private enterprises by encouraging collaborative projects which are designed to promote increased knowledge and technology transfer.
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

Aircraft Facilities Sales Tax Exemption

Estimated Incentive Cost

None

Program Type

Tax exemption

Citation

68 O.S. sec.1357.5.

Industry

Aerospace

Sunset

none found

Review Year

4
Sales of aircraft and aircraft parts are tax exempt; provided such sales occur at a qualified aircraft maintenance facility. As used in this paragraph, "qualified aircraft maintenance facility" means a facility operated by an air common carrier at which there were employed at least 2,000 full-time-equivalent employees in the preceding year as certified by OESC and which is primarily related to the fabrication, repair, alteration, modification, refurbishing, maintenance, building or rebuilding of commercial aircraft or aircraft parts used in air common carriage.
Oklahoma Tax Commission

Aircraft Maintenance or Manufacturing Facility Use Tax Refund

Estimated Incentive Cost

None

Program Type

Tax refund or rebate

Citation

68 O.S. sec.1404.3-4

Industry

Aerospace

Sunset

None Found

Review Year

4
Defined as any new or expanded business which adds at least 250 new full-time-equivalent employees, as certified by the Employment Security Commission. In order to quality for the exemption, the construction cost of the new or expanded facility must exceed $5,000,000.
Oklahoma Tax Commission

Aircraft Repairs and Modifications

Estimated Incentive Cost

$2,344,500

Program Type

Tax exemption

Citation

68 O.S. sec. 1357 [28]

Industry

Aerospace

Sunset

None found

Review Year

4
Sales tax does not apply to sales of aircraft engine repairs, modification, and replacement parts, sales of aircraft frame repairs and modification, aircraft interior modification, and paint or sales of services employed in the repair, modification and replacement of parts of aircraft engines, aircraft frame and interior repair and modification, and paint.
Oklahoma Tax Commission

Computer Services / Data Processing / Telecommunications Equipment Tax Refund

Estimated Incentive Cost

None

Program Type

Tax exemption

Citation

68 O.S. 54004

Industry

Infotech

Sunset

None Found

Review Year

4
Oklahoma offers a sales tax refund on the purchase of computers, data processing equipment, related peripherals, telegraph or telecommunications services, and equipment. The company must be a new or expanding business, an addition of 10 new full time employees with an average salary of $35,000, 50% of annual gross revenues must result from sales to out-of-state buyers but may include the federal government, and 75% of annual gross income results from computer services, data processing activities, or research and development activities.

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