Note: No new appropriations were given to the Oklahoma Opportunity Fund in the 2007 legislative session. While there are no funds available for 2008, the program still exists for the possibility of future appropriations.
The Oklahoma Opportunity Fund - HB 1169 - was established to promote economic development and related infrastructure development. The fund has been established with $45 million.
Eligibility
Eligible applicants are for-profit entities; non-profit entities; and state and local government entities. Funds will be expended for projects which provide a substantial economic benefit to the state through any of the following:
- Creation of new jobs that offer a basic health benefit plan, as defined in the Oklahoma Quality Jobs Program Act;
- Maintenance of existing jobs that are at risk for termination;
- Investment in new real property, plant or equipment or in the improvement or retolling of existing plant or equipment; OR
- Additional revenues in either ad valorem, income or sales and use taxes.
Application Process
Applications may be submitted to the Oklahoma Department of Commerce at any time during the year. Fund recipients are determined by a unanimous consent of a Contingency Review Board comprised of the Governor, the Speaker of the House, and the President Pro Tempore.
Oklahoma Opportunity Fund Application
Contact:
Don Hackler
405-815-5359
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.
