Incentives for Workforce AEROSPACE INDUSTRY ENGINEER WORKFORCE TAX CREDITS Aerospace companies hiring engineers in a variety of fields will receive tax credit equal to 5% of the compensation paid to an engineer and 10% if the engineer graduated from an Oklahoma college or university, plus another credit of up to 50% of the tuition reimbursed to an employee. Additionally, the engineer hired receives a tax credit of $5,000 per year. AUTOMOTIVE ENGINEER WORKFORCE TAX CREDIT Companies that manufacture or assemble motor vehicles, or manufacture automotive parts, and hire newly employed engineers may be eligible for a corporate income tax credit of up to 10% of the compensation paid to the engineer, plus an additional tax credit of up to 50% of the tuition cost reimbursed to an employee. Additionally, the engineer hired receives a tax credit of $5,000 per year.
CUSTOMIZED EMPLOYEE TRAINING Consistently ranked as one of the top programs in the nation, Oklahoma’s Training for Industry Program (TIP) provides customized training and resources to qualifying new and expanding Oklahoma companies at little or no cost to the company. Delivered through the state’s Career Technology Centers, TIP ensures that companies have a productive workforce from the start.
SOFTWARE/CYBERSECURITY WORKFORCE TAX CREDIT
Cybersecurity or software employees who have received a degree from an accredited institution can receive a tax credit up to $2,200 annually or $1,800 annually for qualifying employees who are awarded a certificate from a technology center.
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