SIDE Act improvements can be done through projects that include qualified economic development expenditures in industrial parks, qualified initial infrastructure expenditures associated with industrial parks, or a combination of the two. Once an application is submitted and eligibility requirements are met, the Oklahoma Department of Commerce (Commerce) may allocate Strategic Industrial Development tax credits, a corporate income tax credit, to the eligible entity for the completion of the qualifying project.
Final Round for 2023 Applications Open October 2, 2023
Applicants are strongly encouraged to read the following documents on this webpage before applying:
- Agreement for Potential Participation (this document is required to be attached to the application)
- Program Rules
- SIDE Act FAQ
SIDE Act Round 3 Submission Updates
The Oklahoma Department of Commerce is in the process of reviewing applications that were submitted. Round 3 applications will be evaluated by November 3, 2023.
| Type of Project | Number of Applications Submitted | Amount Requested |
|---|---|---|
| Initial infrastructure | 1 | $61,162 |
| Economic Development | 1 | $600,000 |
| Total | 2 | $661,162 |
If all second-round applications are approved for their requested amounts, there would be $3,937,928.20 remaining for the third round. After September 15, 2023, Commerce will provide updates on the website for the second-round projects that were awarded tax credits through the SIDE Act.
- Application
Beginning in 2024, the Oklahoma Department of Commerce will review applications quarterly. A link to the online application will be posted to the website on the first day of the open period. See below for the anticipated open periods for 2024.
Applicants must download and sign the Agreement for Potential Participation and then upload a copy when applying.
Application Timeline:
- March 18-29, 2024
- On March 18, 2024, applicants may begin filling out and submitting their online application for the second quarter open period.
- Applications must be submitted by March 29, 2024, at 5 p.m. CST.
- Between March 29, 2024, and April 11, 2024, Commerce will review and score applications. Commerce will provide updates on our website on the number of applications, types of projects and amounts of tax credits requested before April 11, 2024.
- Applications will be evaluated by April 11, 2024. Commerce will provide updates on our website of the projects that were awarded tax credits through the SIDE Act.
- July 1-12, 2024*
- September 30-October 11, 2024*
*Please note that funds are limited after the first open period all subsequent dates are contingent upon funds remaining.
Applications will ONLY be accepted via our online submission form which will be linked here on the first day of the open period. The sample PDF application is for preparation purposes only and to allow applicants to review and prepare to apply. Please note that while this document contains the pertinent questions and content needed for submission, the document is NOT final and is subject to minor changes.
Application Timeline:
- On October 2, 2023, applicants may begin filling out and submitting their online applications for the third and final round for 2023.
- Applications must be submitted by October 13, 2023 5 p.m. CST.
- Between October 13, 2023 and November 3, 2023, the Oklahoma Department of Commerce will review and score applications. Commerce will provide updates on our website on the number of applications, types of projects and amounts of tax credits requested before November 3, 2023.
- Applications will be evaluated by November 3, 2023. Commerce will provide updates on our website of the projects that were awarded tax credits through the SIDE Act.
- On January 2, 2024, Commerce will begin accepting applications for SIDE Act projects that will begin in 2024.
Join the SIDE Act Alerts mailing list for program updates.
Oklahoma's Qualifying Areas
View the SIDE Act qualifying counties and cities in Oklahoma.
Check back for an interactive eligibility map. Please be advised that by statutes, Enterprise Zone Tracts are adjusted on July 1 each year. An updated map with new tracts will take effect July 1, 2023, and will be posted as soon as available (late June).
- SIDE Act Program One Sheet
Learn more about how the Oklahoma Strategic Industrial Development Enhancement (SIDE) Act facilitates construction of new or existing facilities at rural industrial parks and promotes the competitiveness of railroad infrastructure in the state.
- Program FAQs
- Rules
2024 SIDE Act Awards Recipients
Commerce has allocated a total of $3,034,037.40 SIDE Act tax credits for one project from the 2024 1st Quarter. SIDE Act tax credits will help facilitate $106,500,000 in capital expenditures. This business plans to create approximately 248 new jobs associated with this project.
Eligible Entity | Sponsor | Type of Project | Location | Anticipated Expenditures | SIDE Act Award |
|---|---|---|---|---|---|
Legacy Fresh Farms - Seminole | Seminole Economic Development Council | Economic Development | Seminole | $106,500,000 | $3,034,037.40 |
Commerce has allocated a total of $12,000,000 SIDE Act tax credits for fourteen projects from the program’s first year. SIDE Act tax credits will help facilitate $60,787,447.50 in capital expenditures. These businesses plan to create approximately 206 jobs new jobs associated with these projects.
| Eligible Entity | Sponsor | Type of Project | Location | Anticipated Expenditures | SIDE Act Award |
|---|---|---|---|---|---|
| Producers Cooperative Oil Mill | Farmrail System, Inc. | Initial Infrastructure & Economic Development | Altus | $8,956,842 | $1,055,333.80 |
| Tulsa Base Railroad, LLC | Tulsa Base Railroad, LLC | Initial Infrastructure | Tulsa | $1,382,694 | $691,346 |
| Centrillium Holdings, LLC | Stillwater Central Railroad | Economic Development | Midwest City | $14,098,287 | $1,409,829 |
| MWC Rail Development, LLC | Arkansas-Oklahoma Railroad, LLC | Initial Infrastructure | Midwest City | $2,100,000 | $1,050,000 |
| MWC Rail Development, LLC | Stillwater Central Railroad | Initial Infrastructure | Midwest City | $1,100,000 | $550,000 |
| Farmrail System, Inc. | Farmrail System, Inc. | Initial Infrastructure | Clinton | $155,514 | $77,757 |
| Helena Agri-Enterprises, LLC | Farmrail System, Inc. | Initial Infrastructure | Altus | $398,510 | $199,255 |
| Tensar International, LLC | Blackwell Industrial Authority | Economic Development | Blackwell | $16,999,999 | $1,699,999 |
| Plains Cotton Cooperative Association | Altus Community Foundation | Initial Infrastructure | Altus | $2,657,102.50 | $1,328,551 |
| Blue Whale Materials, LLC | Bartlesville Development Authority | Economic Development | Bartlesville | $6,743,206 | $674,321 |
| TBD* | Stillwater Central Railroad | Initial Infrastructure | Stroud | $122,324 | $61,162 |
| Blackwell Northern Gateway Railroad | Blackwell Northern Gateway Railroad | Initial Infrastructure | Blackwell | $3,000,000 | $1,500,000 |
| Teal Jones Lumber, LLC | Kiamichi Railroad Company, LLC | Initial Infrastructure | Antlers | $3,072,969 | $1,536,484 |
*Pending selection and approval of an eligible entity or affiliate meeting program requirements.
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.
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.
Your Research & Economic Analysis Services Team
Let us know if you need more information or specific data for site selection or other economic services.
Jon Chiappe
Alexis Carr
