Business Incentives

The State of Oklahoma has been recognized nationally for its outstanding business location and job growth incentives. Businesses can choose between 2 primary business incentive options for newly locating or expanding companies -- outlined below as Option 1 or Option 2. Additionally, we offer a wide range of tax credits, refunds, and workforce training benefits to help your company succeed. A comprehensive overview of Oklahoma's business incentives can be found in the Oklahoma Business Incentives and Tax Guide, which you can view and download here.

2010 Oklahoma Business Incentives and Tax Information Guide

Recent Incentives Update

Bolstering efforts by the Oklahoma Department of Commerce to build a knowledge-based economy in the state, Gov. 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. Here is a list of the new and future incentives:

Quality Jobs + Investment Tax Credits. Effective January 1, 2010. Details coming soon!
21st Century Quality Jobs. Effective November 1, 2009. Click here for details.
OK Community Economic Development Pooled Finance. Effective July 1, 2009. Click here for details
Prime Contractor Incentive. Effective July 1, 2009. Click here for details

Option 1
Quality Jobs Ten-Year Cash Incentive

Oklahoma's Quality Jobs incentive targets manufacturers and certain service industries that have a new payroll investment of $2.5 million or more to receive a quarterly cash payment of up to 5% of new taxable payroll. A lower payroll threshold is available for certain food processing and research and development projects or as a result of locating in targeted areas. Qualifying average wage requirements will vary among counties but do not exceed $28,878.

Small Employer Quality Jobs Seven-Year
Cash Incentive

The Small Employer Quality Jobs incentive allows qualifying small businesses (90 or fewer employees) that are creating new direct jobs within one year to receive up to a 5% cash-back incentive to locate or expand in Oklahoma. The qualifying average wage requirement will vary among counties.

Option 2
Investment/New Jobs Tax Credit Package

Targeted primarily to manufacturing companies, the Investment/New Jobs Tax Credit incentive allows a five-year tax credit on the greater of 1% per year of investment in qualified new depreciable property or a credit of $500 per new job.

Additional Incentives Available with
Options 1 and 2

For comprehensive details on the following incentives, download the Tax Guide or follow the individual links for more information.

Five-year ad valorem tax exemption
No-cost or low-cost customized employee training
Sales tax exemptions
Freeport inventory benefits
Industrial access road assistance (limited under Option 1)
Foreign Trade Zones
American Indian Land tax credits
Opportunity zones
Opportunity fund
State and local financing programs
TIF Districts In Oklahoma

Tax Guide Updates

Get email notification when changes are made to the Oklahoma Business Incentives and Tax Guide.

Subscribe Now!

Got Questions?

Visit our Incentives Frequently Asked Questions page or contact the Fast Forward Team at 800-588-5959 for personal assistance.

Incentives At A Glance

For a quick glance at all the available incentives and how they work together, see the Incentive Overview Chart on page 50 of the Tax Guide.

2010 Oklahoma Business Incentives and Tax Information Guide

Custom Incentive Analysis

The Fast Forward Team will work with you at every step in the process to make your expansion or location decision straightforward and easy. We'll connect you with other state agencies and local communities that can extend the benefits you receive with specialized and localized incentives. Complete our Fast Forward Project Form or call the Fast Forward Team today at 800-588-5959 to get a custom incentives analysis and learn how we can help you.

Contact:

Nancy Nedbalek
405-815-5265
800-879-6552

Disclaimer
The materials contained on this website have been prepared by the Oklahoma Department of Commerce for informational purposes only and do not constitute legal or tax advice. This information is subject to change based on judicial interpretation and legislative action. The application of the information is subject to your unique facts and circumstances. YOU SHOULD NOT ACT UPON ANY INFORMATION CONTAINED IN THESE MATERIALS WITHOUT SEEKING YOUR OWN PROFESSIONAL LEGAL AND TAX ADVICE.