Oklahoma Tourism Development Act

Who is eligible?

Developers and qualifying entities operating a tourism attraction project. For projects that meet requirements, the eligible companies may receive sales tax credits or a sales tax incentive payment annually for 10years up to the amount that is revenue neutral to the state or 25% of the approved development costs, whichever is lower.

How to apply

The eligible company, which may be a developer, of the tourism attraction asset must complete an application and submit it to the Oklahoma Department of Commerce along with: 

• a business plan that also includes the average number of days it is open to the public;
• marketing plan that includes plans for the targeting of out-of-state visitors; 
• a description of the project including maps of the location; 
• anticipated development costs of the project;  
• anticipated employment and wages to be paid at the project; and 
• anticipated revenues and expenses generated at the project. 

Benefits:  

If the eligible company is approved, it would receive inducements of up to 25% of development costs or the revenue neutral incentive as determined by the Oklahoma Department of Commerce, whichever is lower. It is a performance-based incentive from captured state sales taxes associated with the development over a 10-year period.   

Examples of Projects Facilitated by the Tourism Development Act: 

21C Hotel, Tulsa Club, First National Building, the OAK, an entertainment district