The Oklahoma Innovation Expansion Program (OIEP) makes $15 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).
NOTICE: The application period for 2024 OIEP will begin on Monday, April 1, 2024, and close on April 12, 2024, at 5 p.m.
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
- 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 62 O.S. §891.10;
- 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.
2023 Award Recipients
During the 2023 application period, Commerce received 222 submissions for project funding. Of those applications, 178 projects received awards ranging from $25,000 to $150,000 with the total awards funding reaching $13.5 million. The funding will facilitate $91.1 million in capital expenditures. These companies plan to create 1,058 jobs with a total payroll of $63.7 million.
| Company | City | OIEP Award |
|---|---|---|
| A&B Engraving, Inc dba A&B Identity | Tulsa | $25,000 |
| Aceco Valve | Mounds | $25,000 |
| Advanced Industrial Devices | Tulsa | $150,000 |
| Advantage Controls | Muskogee | $77,500 |
| Advantage Plumbing Heating and Cooling, LLC | Oklahoma City | $50,000 |
| AeroCore X | Del City | $25,000 |
| Air Hygiene International, Inc. | Broken Arrow | $145,000 |
| Allegiance Federal Credit Union | Oklahoma City | $50,000 |
| Alliance Steel | Oklahoma City | $150,000 |
| ALLtra Corporation | Dewey | $125,000 |
| Applied Industrial Machining | Oklahoma City | $150,000 |
| Ardmore Construction Supply, Inc. | Ardmore | $30,000 |
| ARL Bio Pharma, Inc. | Oklahoma City | $150,000 |
| ASC, Inc. | Tulsa | $150,000 |
| Atoka Trailer Mfg. | Atoka | $50,000 |
| B+T Group Holdings, Inc. | Tulsa | $150,000 |
| BankOnIT | Oklahoma City | $150,000 |
| Bauman Machine Inc. | Oklahoma City | $53,200 |
| Bergey Windpower Co. LLC | Norman | $55,000 |
| Bluestem Integrated, LLC | Tulsa | $70,000 |
| Bushwackers Land Clearing, LLC | Calera | $27,500 |
| Cameron Glass LLC | Broken Arrow | $100,000 |
| Candid Color Systems, Inc | Oklahoma City | $109,080 |
| Capital Aviation, Inc. | Bethany | $72,500 |
| Centek Inc. | Oklahoma City | $50,000 |
| Centerline, Inc. | Ponca City | $40,000 |
| Century, LLC | Oklahoma City | $62,500 |
| Chasm Advanced Materials Inc | Norman | $35,000 |
| Chisholm Broadband LLC | Coalgate | $60,000 |
| CMP Corporation | Oklahoma City | $100,000 |
| CNI Manufacturing, LLC | Marietta | $50,000 |
| Country Ford-Mercury, Inc | Guthrie | $50,000 |
| CSE Bliss Manufacturing LLC | Ponca City | $40,000 |
| Custom Mechanical Equipment, Inc. | Ponca City | $60,000 |
| CVEC Fiber, LLC | Tecumseh | $148,000 |
| Dakk Mfg. DBA Dakk Liners | Shawnee | $45,000 |
| Delaware Resource Group of Oklahoma, LLC | Oklahoma City | $150,000 |
| Diamond Attachments, LLC | ATOKA | $25,000 |
| Diamond R Industries LLC | Pawnee | $31,087 |
| Diamond T Trailer Manufacturing Co. | Rattan | $70,000 |
| DNA Solutions, Inc. | Oklahoma City | $50,000 |
| Dock and Marina Services, Inc. | McAlester | $40,000 |
| Dow Aero, LLC | Oklahoma City | $95,000 |
| Downing Mfg., Inc. | Tulsa | $30,000 |
| Duracoatings Holdings, LLC | Oklahoma City | $150,000 |
| Dvorak Instruments Inc. | Tulsa | $30,000 |
| EHC Inc. dba KECO | Oklahoma City | $150,000 |
| Electrical Solutions of Oklahoma, Inc. | Del City | $70,000 |
| Energy Exchanger Company | Tulsa | $150,000 |
| Enterprise Grain Company, LLC | Kremlin | $25,000 |
| E-Saw Welding & Fabrication, LLC | Weatherford | $27,000 |
| E-Z DRILL, INC. | Perry | $60,000 |
| Fabwell Acquisition L.P | Tulsa | $50,000 |
| Fammco Mfg Co | Tulsa | $25,000 |
| Flex-Ability Concepts | Oklahoma City | $25,000 |
| GasTech Engineering LLC | Sapulpa | $150,000 |
| Gavco Plastics, Inc | Broken Arrow | $114,500 |
| GEMINI INDUSTRIES, INC. | El Reno | $80,000 |
| Gen-X Machine Technologies Inc. | Tulsa | $45,000 |
| Gideon Steel Panel Company, LLC | Oklahoma City | $25,000 |
| Global Production Solutions LLC | Shawnee | $80,000 |
| GoBob Pipe & Steel Sales LLC | Tulsa | $30,000 |
| Goodwill Industries of Central Oklahoma | Oklahoma City | $55,000 |
| Great American Decoy Company, LLC | Henryetta | $31,500 |
| Green Country Aircraft Exhaust Inc. | Tulsa | $95,000 |
| Ground Zero Shelters Co. | Perry | $60,000 |
| Harris Pattern & Mfg., Inc. | Tulsa | $25,000 |
| Head Country | Ponca City | $60,000 |
| Heather Cannon Honda | Ponca City | $25,000 |
| HERO Flare LLC | Kellyville | $50,000 |
| Hill Manufacturing and Fabrication | Broken Arrow | $50,000 |
| HSI Sensing Inc. | Chickasha | $150,000 |
| Hunzicker Brothers, Inc | Oklahoma City | $91,000 |
| Immuno-Mycologics, Inc. | Norman | $150,000 |
| Industrial Maintenance Inc | Pryor | $40,000 |
| Infinite Composites, Inc. | Tulsa | $25,000 |
| J&J Solutions | Perry | $100,000 |
| Jetta Corporation | Edmond | $120,000 |
| John Vance Motors | Guthrie | $100,000 |
| K and E Fabrication, LLC | Oklahoma City | $40,000 |
| K&C Manufacturing | Ponca City | $35,000 |
| KT Plastics, Inc. | Calera | $25,000 |
| L6 Inc d/b/a Total Valve Systems | Broken Arrow | $96,500 |
| Layco Electric Innovations | Tulsa | $150,000 |
| Lektron Branding Solutions | Tulsa | $80,000 |
| Lippe Federal LLC (d/b/a Federal Corporation) | Oklahoma City | $100,000 |
| Little Waisted LLC dba Bakery Bling | Oklahoma City | $150,000 |
| M J & H Fabrication, Inc. | Ponca City | $115,000 |
| Martens Machine Shop LLC | Fairview | $25,000 |
| Matador Foods LLC | Blanchard | $25,000 |
| MaxQ Research | Stillwater | $30,000 |
| MAYCO INC | Oklahoma City | $80,000 |
| Metal Goods Manufacturing Company, Inc. and KC Welding and Machine Corp | Bartlesville | $95,000 |
| Metro Mechanical LLC | Tulsa | $45,000 |
| MidCentral Manufacturing | Oklahoma City | $115,800 |
| MTM Recognition Corporation | Oklahoma City | $37,500 |
| MW Piping Fabrication, LLC | Tulsa | $40,000 |
| N.E.O. FAB | Miami | $80,000 |
| National Oilwell Varco, L.P. | Duncan | $150,000 |
| Naumann Machining Solutions Inc | Sand Springs | $39,000 |
| Nitro-Lift Fabrication LLC | Tishomingo | $50,000 |
| NORMco Pump & Power, LLC | Shawnee | $30,000 |
| Oklahoma Home Centers LLC | Guthrie | $75,000 |
| Outback Customs, LLC | Oklahoma City | $150,000 |
| Ozark Steel, LLC | Tulsa | $135,000 |
| PAS MRO | Bristow | $30,000 |
| Pelco Products, Inc. | Edmond | $150,000 |
| Pelco Structural | Claremore | $150,000 |
| Pepetools, Inc. | Oklahoma City | $50,000 |
| Piping Enterprise Company, Inc. | Sand Springs | $150,000 |
| Platinum Arch Manufacturing And Construction | Stillwater | $65,000 |
| Platinum Cross Welding, Inc. | Okemah | $70,000 |
| Pope Distributing Company | Enid | $150,000 |
| Preston Eastin Inc. | Tulsa | $100,000 |
| Process Manufacturing Company, Inc. | TULSA | $125,000 |
| Progressive Stamping and Fabrication | Oklahoma City | $35,000 |
| Public Strategies Inc | Oklahoma City | $125,000 |
| Quality Machine Services Inc. | Oklahoma City | $35,000 |
| R.L. Hudson & Co | Broken Arrow | $150,000 |
| Radial Engines Ltd | Guthrie | $29,687 |
| Rajon LLC dba Vertical Aerospace | Bristow | $150,000 |
| RCO Fabrication Technologies, LLC | Cushing | $35,000 |
| Red Devil, Inc. | Pryor | $150,000 |
| Red River Pallet, Inc. | Marietta | $50,000 |
| Rick Scott Construction, Inc. | Ponca City | $75,000 |
| Rise Manufacturing, LLC | Broken Arrow | $100,000 |
| Rivers Edge Countertops Inc. | Newcastle | $40,000 |
| RLR Vision, PLLC d/b/a ClearSight LASIK | Oklahoma City | $80,000 |
| Royal Filter Mfg. Co. | Chickasha | $35,000 |
| RRY Services, LLC | Stillwater | $38,000 |
| Russell Group LLC / dba CBi Print | Afton | $30,000 |
| S&T Mfg. Co. Inc. | Tulsa | $150,000 |
| Sagebrush Pipeline Equipment Co, LLC | Tulsa | $150,000 |
| Savage Equipment, Inc. | Madill | $33,000 |
| Sawyer Manufacturing Company | Tulsa | $120,000 |
| Schwab Meat Company | Oklahoma City | $100,000 |
| SeatbeltPlanet.com LLC | Edmond | $25,000 |
| Selco, LLC | Tulsa | $37,000 |
| Seminole Ford-Mercury, Inc. | Seminole | $25,000 |
| Sensia LLC | Duncan | $150,000 |
| Sertco Industries | Okemah | $50,000 |
| Shielding Resources Group, Inc. | Tulsa | $35,000 |
| Skulls Unlimited International, Inc/Museum of Osteology | Oklahoma City | $31,250 |
| Slim Haney Machining, Inc. | Tulsa | $115,000 |
| Southwest Filter Company | Tulsa | $35,000 |
| Southwood Landscape & Nursery Co., Inc. | Tulsa | $52,180 |
| Specific Systems, LLC | Tulsa | $150,000 |
| SportChassis LLC | Clinton | $90,000 |
| SSI Cards | Edmond | $55,000 |
| Stillwater Milling Company LLC | Davis | $106,000 |
| SurRoca Redi-Mix, LLC | Tulsa | $50,000 |
| T&D Fabrication, Inc. | Drumright | $50,000 |
| T&L Foundry, Inc. | Glenpool | $100,000 |
| Tag Drilling Motor Co LLC | Oklahoma City | $25,000 |
| Taylor & Sons Pipe & Steel, Inc. | Chickasha | $135,000 |
| Texoma Mfg LLC. | Durant | $55,000 |
| The Don Hume Company | Miami | $25,000 |
| The Jameson Group | Oklahoma City | $35,000 |
| The Railroad Yard | Stillwater | $90,000 |
| The Shutter Mill, Inc. | Stillwater | $44,000 |
| Tri-Lift Services Inc. | Crescent | $85,000 |
| Tri-States Sales Inc. | Claremore | $35,000 |
| U. S. Pioneer | Tulsa | $52,500 |
| Vacuworx Global, LLC | Tulsa | $130,000 |
| Valco Inc | Duncan | $85,000 |
| Vallourec Star | Muskogee | $75,000 |
| Value Added Products | Alva | $40,000 |
| Vance Auto Group of Miami/Vance Chrylser Dodge Jeep Ram | Miami | $50,000 |
| Vault Ice, LLC | Norman | $40,000 |
| ViaCore Nutrition | Kingfisher | $40,000 |
| Victory Energy Operations LLC | Collinsville | $150,000 |
| VMI Inc. | Cushing | $32,650 |
| Wako, LLC | Enid | $47,175 |
| Wall Colmonoy - Aerobraze | Oklahoma city | $150,000 |
| Weibee Steel | Norman | $65,000 |
| Western Industries Corporation | Oklahoma City | $125,000 |
| Wild Country Meats | Cleveland | $35,000 |
| XploSafe | Stillwater | $30,000 |
Your OIEP Team
For assistance, contact the Regional Development Specialist (RDS) who serves your region.
Jared Cooper
Steven Bratcher
Glenn Glass
Stan Ralstin
Charlotte Howe
Martin Roberts
