STATE INCENTIVES
OKLAHOMA QUALITY JOBS PROGRAM – 10 YEAR CASH INCENTIVE Companies can directly receive up to 5% of new payroll in the form of quarterly cash payments for up to 10 years. Visit www.GreaterOklahomaCity.com for complete details and requirements associ- ated with incentives. OKLAHOMA QUALITY JOBS – SMALL EMPLOYER PROGRAM Allows qualifying small businesses (500 employees or less) to receive up to 5% cash-back incentive for up to seven years to locate or expand in Oklahoma. 21ST CENTURY QUALITY JOBS INCENTIVE PROGRAM – 10 YEAR CASH INCENTIVE Created to attract certain growth industries by rewarding businesses with a highly skilled workforce. Companies can receive up to 10% on new payroll for up to 10 years. INVESTMENT/NEW JOBS TAX CREDITS Provides growing manufacturers a significant tax credit based on investment in depreciable property or the addition of full-time employees engaged in manufacturing, processing, or aircraft maintenance. A 1% tax credit of qualified investment for five- years totaling 5%. Tax credit doubles in enterprise zones or for investments worth over $40M.
QUALITY JOBS & INVESTMENT TAX CREDIT Qualifying companies typically have to choose either the Quality Jobs Program OR the Investment/ New Jobs Tax Credit benefits. Qualifying manufacturing companies will have the option of receiving both of these incentives depending upon eligibility requirements, including and revenue positive determination by the state. AUTOMATIC 5% AREAS FOR OKLAHOMA QUALITY JOBS PROGRAM For the Quality Jobs Program, companies locating in “Automatic 5% Counties” may qualify for a 5% net benefit rate. Within “Opportunity Zones”, in addition to a 5% net benefit rate, average wage requirements may be waived in the Quality Jobs Program.
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Norman is a Top 10 city to kickstart your career. -WalletHub
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