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Oklahoma Innovation Expansion Program

The Oklahoma Innovation Expansion Program (OIEP) makes $10 million in funding available to qualifying companies across the state. OIEP supports high-impact new capital investment across a broad range of industries to help diversify the state’s economy, lead to new product development or increase capacity at Oklahoma’s existing companies. In addition to encouraging new capital investment, these awards support existing jobs and the creation of new jobs. The program is administered by the Oklahoma Department of Commerce (Commerce) and the Oklahoma Development Finance Authority (ODFA).

During the 2022 application period, Commerce received 163 submissions for project funding. Of those applications, 125 projects received awards ranging from $25,000 to $150,000 with the total awards funding reaching $9.241 million. The funding will facilitate $58.065 million in projects. These companies plan to create 767 jobs with a total payroll of $35.4 million. 

NOTICE: The application period for OIEP began on April 4, 2022, and closed April 15, 2022. 

Applicants are strongly encouraged to read the following documents on this webpage before applying:

  1. Agreement for Potential Participation (this document is required to be attached to the application)
  2. Program Rules
  3. OIEP FAQ

Financial Incentive for Your Diversification, Expansion or Development

This incentive makes monthly cash payment awards in the form of payroll tax rebates to help companies grow and offset the cost of capital expenditures incurred through business expansion investments in Oklahoma.

  • Lower the cost of a capital project
  • Improve return on investment
  • Increase the scope of a planned expansion
  • Enhance ability to finance a project

In April 2021, Governor Kevin Stitt announced the launch of the Oklahoma Innovation Expansion Program (OIEP), making $10 million in funding available to qualifying manufacturers across the state. Based on the success of the Oklahoma Bounce Back Assistance Program in 2020, OIEP was developed to support high-impact new capital investment across a broad range of industries to help diversify the state’s economy, lead to new product development or increase capacity at Oklahoma’s existing companies. In addition to encouraging new capital investment, these awards support existing jobs and the creation of new jobs. The program is administered by the Oklahoma Department of Commerce (Commerce) and the Oklahoma Development Finance Authority (ODFA).

Program Eligibility

For a business to be eligible for consideration into the program they must meet all of the following requirements:

  • Must be a “for-profit” business entity;
  • The Project facility must be located in Oklahoma and the project requires a minimum capital expenditure of at least $50,000;
  • Must currently have a minimum payroll at the project facility of at least $625,000 per year;
  • Funds cannot have been spent toward the new project prior to the Company having received an award letter recommending approval of the new project from the Oklahoma Department of Commerce;
  • The new project must either be an innovative project, a project that shortens or strengthens the supply chain for the product being manufactured, or it must be a project designed to target new markets;
  • The business must not be participating in any of the Oklahoma Quality Jobs Act Programs and cannot take  Investment Tax Credits while in the program;
  • The Project must meet all other eligibility requirements for participation in the Oklahoma Economic Development Pooled Finance Act set forth in 68O.S. §891.1 et. seq.;
  • Businesses selected for participation in the program must spend at least 10% of the estimated project costs within ninety (90) days of executing a funding agreement with the Oklahoma Development Finance Authority
  • Only projects where the net benefit rate of the project is sufficient to sustain a $25,000 award or greater shall be eligible for participation in the program.
  • Business must meet all eligibility requirements and follow all program rules as set forth in the Oklahoma Innovation Expansion Program Rules document and as set forth in the Oklahoma Economic Development Pooled Finance Act

Program Details

Award Amounts

The maximum award amount for OIEP is $150,000 and will vary depending on the potential positive impact on Oklahoma’s economy.

Reporting Requirements

Participating businesses will be required to:

  • Provide quarterly reports verifying employment levels and expenditures.
  • Submit verification of purchase and installation of machinery and equipment.

Program Rules

Read the complete rules for program participation prior to applying.

Agreement for Potential Participation

Companies must download and sign the Agreement for Potential Participation and then upload a copy when applying.

Program FAQs

Frequently asked questions about the program will be posted here as they are developed.

Generally, companies participating in the OIEP must have an existing or projected payroll of $625,000 in order to participate, in addition to other requirements. Refer to the program rules for complete details.

A qualifying capital expenditure, as the term is used in the program, refers to money spent on the purchase of depreciable assets such as equipment, fixtures, machinery or improvements to property made by the business entity toward the new project. They do not include additional employee costs related to the new project, such as increased salary, wages or fringe benefits.

In filling out the Application, an applicant will want to be prepared to discuss or provide the following:

  • Company FEI number
  • Company NAICS code
  • If company remits withholding taxes through a third party, such as a PEO, and the identity of the third party
  • Most current fiscal year sales figures
  • Total Budget for new project
  • How much of the budget the company will contribute to the new project
  • A narrative description of the project
  • Number of persons currently employed by the company within Oklahoma
  • Average annual wage of current jobs in Oklahoma
  • Total current yearly payroll for the company in Oklahoma
  • Number of jobs to be created by the new project in Oklahoma
  • Average annual wage of the new jobs created by the project
  • Timeline for new job creation
  • Whether or not the company will create a qualifying health plan for new or existing jobs
  • Timeline for the new project
  • Whether or not the award would lead to diversification, new capabilities or expanded capabilities
  • A description as to how the award would lead to diversification, new capabilities or expanded capabilities
  • A completed copy of the Agreement for Potential Participation

No. Due to the inherent mobility of vehicles, a project based on the acquisition of vehicles does not create a sufficient benefit to the state for an award under the program.

Similar to the Quality Jobs Program, payroll for this incentive includes wages, overtime and bonuses.  It does not include benefits, unemployment insurance or other payroll costs. 

No, this the Oklahoma Innovation Expansion incentive is a rebate (not a grant) based on actual withholdings taxes associated with a company’s payroll. 

No, since this incentive operates as a rebate, it is paid after the company demonstrates performance of 10% spend in the first ninety days and is paid over the course of 12 months or until June, 2023.

Questions

For assistance, contact the Regional Development Specialist (RDS) who serves your region.

2022 Award Recipients

During the 2022 application period, Commerce received 163 submissions for project funding. Of those applications, 125 projects received awards ranging from $25,000 to $150,000 with the total awards funding reaching $9.241 million. The funding will facilitate $58.065 million in projects. These companies plan to create 767 jobs with a total payroll of $35.4 million. 

CompanyCity
Aceco Valves, LLCMounds
ADCO Designs & Fixtures, inc.Beggs
Advanced Industrial Devices Company, LLCTulsa
Ahrberg Milling of Cushing, Inc.Cushing
Air Hygiene International, Inc.Broken Arrow
Aquestia USA Inc.Tulsa
ASC, Inc.Tulsa
Bakery BlingOklahoma City
BankOnIT Oklahoma City
Baskins Machined ProductsCollinsville
Bauman Machine IncOklahoma City
Bergey Windpower Co. LLCNorman
Blue Arc Metal Specialties, Inc.Claremore
Bluestem Integrated, LLCTulsa
BOARDMAN, L.L.C.Oklahoma City
Broce Manufacturing Co.Fairview
Candid Color Systems, IncOklahoma City
Canyon Oilfield Services, LLCElk City
Capital Aviation, Inc.Bethany
Centurion Health Systems (aka Mercy Regional Oklahoma)Owasso
Century, LLCOklahoma City
Choctaw Defense Manufacturing, LLCMcAlester
CMP CorporationOklahoma City
CNI Manufacturing LLCMarietta
Coulter & CompanyOwasso
Custom Mechanical Equipment, Inc.Ponca City
CVEC Fiber, LLCSeminole
Delaware Resource Group of Oklahoma LLCOklahoma City
Diamond Attachments, LLCAtoka
Diamond T Trailer ManufacturingRattan
Duncan Machine Products, Inc.Duncan
Dvorak Instruments Inc.Tulsa
Freestyle Creative (Freestyle Labs)Moore
Gavco PlasticsBroken Arrow
GoBob Pipe and Steel Sales, LLCMounds
Ground Zero Shelters Co.Perry
HEAVYBILT MFG INCCoalgate
Hero Flare LLCKellyville
Hiland DairyChandler
Hill Manufacturing & FabricationBroken Arrow
Infinite Composites, Inc.Tulsa
J&J SolutionsPerry
J. Price Energy Services, LLCMadill
Jetta CorpEdmond
Johnson Machine IncCollinsville
JP Consultants, LLCMadill
K&C ManufacturingPonca City
Kirby-Smith Machinery, Inc.Oklahoma City
KT Plastics, Inc.Calera
Layco Electric InnovationsTulsa
Lektron LED TechnologiesTulsa
Lippe Federal LLC (dba Federal Corporation)Oklahoma City
Log10, LLCPonca City
Mar-K Specialized ManufacturingOklahoma City
Maxcess Americas, Inc. - DBA FifeOklahoma City
MaxQ ResearchStillwater
McClarin PlasticsOklahoma City
McElroy Manufacturing Inc.Tulsa
Memorial Machine, IncTulsa
Metro Mechanical LLCTulsa
MidCentral ManufacturingOklahoma City
MJ&H Fabrication Ponca City
Molded Products, Inc.Broken Arrow
Moore Iron & Steel Corp.Yale
MTM Recognition CorporationOklahoma City
NEW VISION MANUFACTURING LLCMadill
Nitro-Lift Fabrication LLCTishomingo
No Man's Land Foods LLCEnid
OCV Control Valves, LLCTulsa
Oklahoma Folding Carton & Printing Inc.Minco
Oklahoma Interpak LLCMuskogee
Parrish Enterprises, Ltd. d.b.a. PTEnid
PAS MROBristow
PDR/ Orchestrate, LLC (includes Prodigital Labs, LLC)Ardmore
Pelco Products, IncEdmond
Pelco Structural, LLCClaremore
Pepetools, Inc.Oklahoma City
Plantation Investments LLC dba Stroud SafetyOklahoma City
Platinum Arch Manufacturing and ConstructionStillwater
Platinum Cross Welding, Inc.Okemah
Precision Metal FabPonca City
Premium Beef Feeders, LLCLone Wolf
PRESCOR LLCTulsa
Preston Eastin Inc.Tulsa
PROCESS MANUFACTURING CO., INC.Tulsa
Pro-Fab, LLCOklahoma City
Proform Group Inc.Muskogee
Radial Engines LtdGuthrie
Rajon LLC dba Vertical AerospaceBristow
Red Devil, Inc.Pryor
REG OKLAHOMA ACQUISITIONS DBA SSI CARDSEdmond
RISE Manufacturing, LLCBroken Arrow
RL Hudson & CoBroken Arrow
Royal Filter Mfg. Co.Chickasha
Sagebrush Pipeline Equipment Co., LLCTulsa
Savage Equipment, Inc.Madill
Sawyer Mfg CompanyTulsa
SCHWAB & COMPANYOklahoma City
Selco Custom Time CorporationTulsa
Sertco IndustriesOkemah
Shen Te Enterprises, Inc.Tulsa
Sidwell SeedKremlin
SLIM HANEY MACHINING INC.Tulsa
Southwest Filter CompanyTulsa
Splash Sales LLC DBA Splash Truck SalesGuthrie
Sportchassis LlcClinton
Standard Panel LLCTulsa
T&D Fabrication, Inc.Drumright
Tactical Electronics & Military Supply, LLCBroken Arrow
TC Whilden Consulting Inc DBA Burleson Pump CoOklahoma City
texoma mfg llcDurant
The Jameson GroupOklahoma City
The Shutter Mill, Inc.Stillwater
THG Energy Solutions, LLCTulsa
Tomcat AviationMidwest City
Tri-Lift Services Inc.Crescent
True Sky Federal Credit UnionOklahoma City
Vacuworx Global, LLCTulsa
Value Added Products CoopAlva
ViaCore NutritionKingfisher
Victory Energy Operations LLCCollinsville
VMI INCCushing
Wako, LLCEnid
Western Industries CorporationOklahoma City
Zeeco, Inc.Broken Arrow
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