Companies locating or expanding in Greater Oklahoma City have access to a variety of world-class local and state incentives that help foster growth and ensure success in our community. Our region has continually invested its resources in fostering a healthy and robust business climate. You can get more in-depth info about these various programs at www.greateroklahomacity.com/incentives or www.okcommerce.gov/incentives . INCENTIVES
STATE INCENTIVES INCENTIVES FOR QUALITY JOBS
TAX EXEMPTIONS Companies in manufacturing, R&D, warehouse & distribution, certain computer/data processing services, refinery and aircraft repair could be exempt from ad valorem taxes for 5 years. Additionally, manufacturers could be exempt from paying sales tax on the purchases of machinery and equipment, energy and tangible personal property used in the design, development and the manufacturing operation at the manufacturing site. OTHER ASSISTANCE PROGRAMS Opportunity Zones, New Market Tax Credits, Foreign Trade Zones, Export Assistance, Freeport Inventory Benefits, Infrastructure Grants, American Indian
Companies could receive a cash rebate in the form of quarterly cash payments for a number of years depending on the quantity of jobs created and the average annual wages. INCENTIVES FOR INVESTMENT Manufacturers could receive a tax credit for significant investments in depreciable property or in the addition of full-time employees engaged in manufacturing, processing or aircraft maintenance. INCENTIVES FOR EXPANDING OKLAHOMA COMPANIES Local companies that are expanding and creating new jobs and making
significant investments in facilities, machinery and equipment, may be eligible for incentive dollars. INCENTIVES FOR WORKFORCE Aerospace or automotive companies that hire engineers could receive a tax
Lands Tax Credit and Industrial Access Road Assistance. LOCAL INCENTIVES The City of Oklahoma City’s Strategic Investment Program (SIP) is a deal-closing
fund that provides companies with a cash award based on the quantity and quality of newly created jobs and capital investment made within the city limits. The company must hire a minimum of 50 employees, produce an annual payroll of 1.75 million and exceed specific average wage thresholds. Additionally, other communities in the region offer different local incentives such as TIF districts, build- to-suit programs, property specific incentives and more. The Greater Oklahoma City Chamber can connect you to local community incentives and resources.
credit based upon the compensation paid to the engineer. Additionally, the individual engineer hired could receive a tax credit. A cybersecurity or software employee could also receive a tax credit. Incentive dollars are also available to support the workforce recruitment process and customized training needs of qualifying new and expanding Oklahoma companies.
Oklahoma City BY THE NUMBERS 2023
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