June 1, 2009 -- Bolstering efforts by the Oklahoma Department of Commerce to build a knowledge-based economy in the state, Governor Brad Henry recently signed a series of legislative bills designed to create high quality jobs, with some expected to pay 300% of the state's current annual average wage. 

Senate Bills 909 and 938 expand the state's Quality Jobs Program, a tool used to attract new companies to Oklahoma and help existing ones grow, and give Commerce--the state's lead economic development agency--a set of critical tools for recruiting companies involved with advanced manufacturing, aerospace, biotechnology, business services, and traditional and renewable energy.

Governor Brad Henry said the Quality Jobs Act has been vital to Oklahoma's economic development efforts.

"In improving on that program and targeting high-paying, knowledge-based jobs of the future, we are building a foundation for economic growth that will benefit Oklahomans today and well into the future," Henry said.

Commerce Secretary Natalie Shirley said the new legislation provides even greater opportunity for Oklahomans to thrive and prosper.

"While Oklahoma enjoys a nationally recognized incentive program, attracting and retaining jobs is extremely competitive," Shirley said. "With the signing of this legislation, we are now even better equipped to create high quality jobs that will raise the standard of living for all Oklahomans and accurately reflect our progress toward a knowledge-based economy."

State Senator Mike Mazzei (Tulsa) and State Representative Dan Sullivan (Tulsa) sponsored the bills in the respective chambers.

Mazzei said SB 938, the 21st Century Quality Jobs Act, targets high impact jobs in growth industries and is built on the areas of economic development Oklahoma is currently pursing.

"These are jobs that typically have an average salary of more than $100,000 a year. This would not only increase per capita income in our state, but it would also diversify Oklahoma's economy, " Mazzei said. "This truly represents a bold step forward that will ultimately benefit individuals, families, and our entire state."

Sullivan said the 21st Century Quality Jobs Act could potentially have a huge financial impact in rural Oklahoma, where smaller companies can impact communities by taking advantage of the wage benefits, which are indexed at the county level.

"If it's good for rural Oklahoma, it's good for the entire state," Sullivan said.

With passage of SB 909, Sullivan said the Quality Jobs Program has been adjusted for today's business environment and provides real opportunity to retain Oklahoma's competitive edge.

"With this new legislation, we are giving ourselves all the tools to be competitive with surrounding states to keep and attract businesses in Oklahoma," Sullivan said.

The original Quality Jobs Program, which began in 1993, has created more than 400,000 new jobs in Oklahoma with an average wage of more than $31,000 a year. Companies qualify based on the projection of jobs, wages and payroll.

About the Quality Jobs Program legislation:

Senate Bill 909 offers enhanced incentives for job creation in Oklahoma. The new legislation allows existing and new businesses in Oklahoma to take advantage of both tax rebates and tax credits, as long as they meet the criteria for payroll and job creation. Previously employers had to choose one program or the other -- Quality Jobs tax rebates if they create new jobs with a minimum payroll of $2.5 million OR tax credits if they invest $40 million in the state.

Senate Bill 938, also known as the "21st Century Quality Jobs" program, expands the existing Quality Jobs program to offer incentives for higher paying, knowledge-based jobs. Under this new legislation, companies creating the jobs specified in Senate Bill 938 would be eligible to receive a quarterly cash rebate of up to 10 percent of new taxable payroll if they achieve wage and performance job creation targets.

Also approved by the state legislature were House Bill 1953 and House Bill 1468. Under HB 1953, companies that support, repair, and maintain service for wind energy companies are now eligible for the state's Quality Jobs Act. The legislation would seek to attract companies to Oklahoma that are involved in all aspects of the wind energy industry. HB 1468 makes federal contractors eligible for the state's Quality Jobs Act.

Related Content:
KWTV Report on Oklahoma's Quality Jobs Program