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Oklahoma Innovation Expansion Program

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:

  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 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 & Agreement for Potential Participation

Read the complete rules for program participation prior to applying. Companies must initial each page of the rules for program participation and sign the last page before submitting. Upload the initialed and signed copy of the agreement when 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 90 days and is paid over the course of 12 months or until June 2025.

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. 

CompanyCity OIEP Award
A&B Engraving, Inc dba A&B IdentityTulsa$25,000
Aceco ValveMounds$25,000
Advanced Industrial DevicesTulsa$150,000
Advantage ControlsMuskogee$77,500
Advantage Plumbing Heating and Cooling, LLCOklahoma City$50,000
AeroCore XDel City$25,000
Air Hygiene International, Inc.Broken Arrow$145,000
Allegiance Federal Credit UnionOklahoma City$50,000
Alliance SteelOklahoma City$150,000
ALLtra CorporationDewey$125,000
Applied Industrial MachiningOklahoma 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
BankOnITOklahoma City$150,000
Bauman Machine Inc.Oklahoma City$53,200
Bergey Windpower Co. LLCNorman$55,000
Bluestem Integrated, LLCTulsa$70,000
Bushwackers Land Clearing, LLCCalera$27,500
Cameron Glass LLCBroken Arrow$100,000
Candid Color Systems, IncOklahoma City$109,080
Capital Aviation, Inc.Bethany$72,500
Centek Inc.Oklahoma City$50,000
Centerline, Inc.Ponca City$40,000
Century, LLCOklahoma City$62,500
Chasm Advanced Materials IncNorman$35,000
Chisholm Broadband LLCCoalgate$60,000
CMP CorporationOklahoma City$100,000
CNI Manufacturing, LLCMarietta$50,000
Country Ford-Mercury, IncGuthrie$50,000
CSE Bliss Manufacturing LLCPonca City$40,000
Custom Mechanical Equipment, Inc.Ponca City$60,000
CVEC Fiber, LLCTecumseh$148,000
Dakk Mfg. DBA Dakk LinersShawnee$45,000
Delaware Resource Group of Oklahoma, LLCOklahoma City$150,000
Diamond Attachments, LLCATOKA$25,000
Diamond R Industries LLCPawnee$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, LLCOklahoma City$95,000
Downing Mfg., Inc.Tulsa$30,000
Duracoatings Holdings, LLCOklahoma City$150,000
Dvorak Instruments Inc.Tulsa$30,000
EHC Inc. dba KECOOklahoma City$150,000
Electrical Solutions of Oklahoma, Inc.Del City$70,000
Energy Exchanger CompanyTulsa$150,000
Enterprise Grain Company, LLCKremlin$25,000
E-Saw Welding & Fabrication, LLCWeatherford$27,000
E-Z DRILL, INC.Perry$60,000
Fabwell Acquisition L.PTulsa$50,000
Fammco Mfg CoTulsa$25,000
Flex-Ability ConceptsOklahoma City$25,000
GasTech Engineering LLCSapulpa$150,000
Gavco Plastics, IncBroken Arrow$114,500
GEMINI INDUSTRIES, INC.El Reno$80,000
Gen-X Machine Technologies Inc.Tulsa$45,000
Gideon Steel Panel Company, LLCOklahoma City$25,000
Global Production Solutions LLCShawnee$80,000
GoBob Pipe & Steel Sales LLCTulsa$30,000
Goodwill Industries of Central OklahomaOklahoma City$55,000
Great American Decoy Company, LLCHenryetta$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 CountryPonca City$60,000
Heather Cannon HondaPonca City$25,000
HERO Flare LLCKellyville$50,000
Hill Manufacturing and FabricationBroken Arrow$50,000
HSI Sensing Inc.Chickasha$150,000
Hunzicker Brothers, IncOklahoma City$91,000
Immuno-Mycologics, Inc.Norman$150,000
Industrial Maintenance IncPryor$40,000
Infinite Composites, Inc.Tulsa$25,000
J&J SolutionsPerry$100,000
Jetta CorporationEdmond$120,000
John Vance MotorsGuthrie$100,000
K and E Fabrication, LLCOklahoma City$40,000
K&C ManufacturingPonca City$35,000
KT Plastics, Inc.Calera$25,000
L6 Inc d/b/a Total Valve SystemsBroken Arrow$96,500
Layco Electric InnovationsTulsa$150,000
Lektron Branding SolutionsTulsa$80,000
Lippe Federal LLC (d/b/a Federal Corporation)Oklahoma City$100,000
Little Waisted LLC dba Bakery BlingOklahoma City$150,000
M J & H Fabrication, Inc.Ponca City$115,000
Martens Machine Shop LLCFairview$25,000
Matador Foods LLCBlanchard$25,000
MaxQ ResearchStillwater$30,000
MAYCO INCOklahoma City$80,000
Metal Goods Manufacturing Company, Inc. and KC Welding and Machine CorpBartlesville$95,000
Metro Mechanical LLCTulsa$45,000
MidCentral ManufacturingOklahoma City$115,800
MTM Recognition CorporationOklahoma City$37,500
MW Piping Fabrication, LLCTulsa$40,000
N.E.O. FABMiami$80,000
National Oilwell Varco, L.P.Duncan$150,000
Naumann Machining Solutions IncSand Springs$39,000
Nitro-Lift Fabrication LLCTishomingo$50,000
NORMco Pump & Power, LLCShawnee$30,000
Oklahoma Home Centers LLCGuthrie$75,000
Outback Customs, LLCOklahoma City$150,000
Ozark Steel, LLCTulsa$135,000
PAS MROBristow$30,000
Pelco Products, Inc.Edmond$150,000
Pelco StructuralClaremore$150,000
Pepetools, Inc.Oklahoma City$50,000
Piping Enterprise Company, Inc.Sand Springs$150,000
Platinum Arch Manufacturing And ConstructionStillwater$65,000
Platinum Cross Welding, Inc.Okemah$70,000
Pope Distributing CompanyEnid$150,000
Preston Eastin Inc.Tulsa$100,000
Process Manufacturing Company, Inc.TULSA$125,000
Progressive Stamping and FabricationOklahoma City$35,000
Public Strategies IncOklahoma City$125,000
Quality Machine Services Inc.Oklahoma City$35,000
R.L. Hudson & CoBroken Arrow$150,000
Radial Engines LtdGuthrie$29,687
Rajon LLC dba Vertical AerospaceBristow$150,000
RCO Fabrication Technologies, LLCCushing$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, LLCBroken Arrow$100,000
Rivers Edge Countertops Inc.Newcastle$40,000
RLR Vision, PLLC d/b/a ClearSight LASIKOklahoma City$80,000
Royal Filter Mfg. Co.Chickasha$35,000
RRY Services, LLCStillwater$38,000
Russell Group LLC / dba CBi PrintAfton$30,000
S&T Mfg. Co. Inc.Tulsa$150,000
Sagebrush Pipeline Equipment Co, LLCTulsa$150,000
Savage Equipment, Inc.Madill$33,000
Sawyer Manufacturing CompanyTulsa$120,000
Schwab Meat CompanyOklahoma City$100,000
SeatbeltPlanet.com LLCEdmond$25,000
Selco, LLCTulsa$37,000
Seminole Ford-Mercury, Inc.Seminole$25,000
Sensia LLCDuncan$150,000
Sertco IndustriesOkemah$50,000
Shielding Resources Group, Inc.Tulsa$35,000
Skulls Unlimited International, Inc/Museum of OsteologyOklahoma City$31,250
Slim Haney Machining, Inc.Tulsa$115,000
Southwest Filter CompanyTulsa$35,000
Southwood Landscape & Nursery Co., Inc.Tulsa$52,180
Specific Systems, LLCTulsa$150,000
SportChassis LLCClinton$90,000
SSI CardsEdmond$55,000
Stillwater Milling Company LLCDavis$106,000
SurRoca Redi-Mix, LLCTulsa$50,000
T&D Fabrication, Inc.Drumright$50,000
T&L Foundry, Inc.Glenpool$100,000
Tag Drilling Motor Co LLCOklahoma City$25,000
Taylor & Sons Pipe & Steel, Inc.Chickasha$135,000
Texoma Mfg LLC.Durant$55,000
The Don Hume CompanyMiami$25,000
The Jameson GroupOklahoma City$35,000
The Railroad YardStillwater$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. PioneerTulsa$52,500
Vacuworx Global, LLCTulsa$130,000
Valco IncDuncan$85,000
Vallourec StarMuskogee$75,000
Value Added ProductsAlva$40,000
Vance Auto Group of Miami/Vance Chrylser Dodge Jeep RamMiami$50,000
Vault Ice, LLCNorman$40,000
ViaCore NutritionKingfisher$40,000
Victory Energy Operations LLCCollinsville$150,000
VMI Inc.Cushing$32,650
Wako, LLCEnid$47,175
Wall Colmonoy - AerobrazeOklahoma city$150,000
Weibee SteelNorman$65,000
Western Industries CorporationOklahoma City$125,000
Wild Country MeatsCleveland$35,000
XploSafeStillwater$30,000
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