Oklahoma has taken steps to attract auto makers to the state with the passage of a new incentive. The Automotive Engineer Tax Credit is intended for vehicle manufacturing companies that manufacture or assemble automobiles or pick-up trucks (motor vehicles) in the state, hire engineers that have graduated from an accredited institution and are newly employed in the vehicle manufacturing sector. It is modeled after an existing Oklahoma incentive: the Engineer Tax Credit for Aerospace.
“The Aerospace Engineer Tax Credit has been successfully used to attract the critical aerospace workforce needed in Oklahoma’s aerospace sector, which ensures that it will thrive in the state,” said Deby Snodgrass, Oklahoma Secretary of Commerce & Tourism. “Similarly, the Automotive Engineer tax credit provides Oklahoma with a tool to attract motor vehicle manufacturing companies to the state to build on the success of the Aerospace Engineer Tax Credit.”
The incentive will start in November 2018.