The Oklahoma Department of Commerce will begin accepting applications on December 1, 2022 for the first round of the Rural Jobs Act. The application period will remain open until all of the certifiable capital investments have been allocated. It will be a six year program and the tax credits are only available in years 3-6 after the capital allocation date.
Application requires submitting:
- the amount of capital investment requested – a maximum of $100 million; (This may be submitted by completing Tab 1 in the ORJA Application spreadsheet, which you may find below)
- copies of licenses AND certificate mentioned in 68 O.S. § 3932(A)(2);
- evidence of investment of at least $100 million invested in small businesses in rural areas of the nation (This may be submitted by completing Tab 2 in the ORJA Application Spreadsheet, which you may find below);
- a business plan covering 10 years stating the investment objective of the rural fund; and the revenue assessment; and the anticipated jobs creation and retention of the rural fund (This requires two notarized affidavits indicating the consulting firm and the applicant firm are unrelated) ; and
- the application fee.
In addition to the five items statutorily required to be submitted as a part of the application, the Oklahoma Department of Commerce requires the below to be submitted at the same time for the application to be considered complete.
- Bios of the officers of the applicant and the affiliates of the applicant should be included so that the Oklahoma Department of Commerce may perform due diligence.
- Organization Chart showing the ownership structure and relationship for the Rural Fund, its affiliates and its investors.
Please email your completed application to OKRuralJobs@okcommerce.gov. If you do not receive a confirmation email within 60 minutes, please call 405-815-5210. The confirmation email will serve as your proof of submission on a given date.
Oklahoma's Qualifying Areas
View the Rural Jobs Act qualifying counties and cities in Oklahoma.
Call us today at 800-588-5959 and we’ll get started on a cost/benefit analysis for your business. After your preliminary assessment, we can assist you with the application process.
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.
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