About the Program

Oklahoma has some of the lowest tax rates and some of the best tax incentives in the nation. The state offers companies a low cost of doing business, a low cost of living for employees, and tax rebates that further reduce tax burdens.

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Program Details

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Job Creation Incentives

Oklahoma’s successful Quality Jobs incentive program promotes job growth and helps improve your company’s bottom line by injecting cash back into your business as you expand and create new jobs in Oklahoma. The Quality Jobs program provides a cash rebate to companies that create well-paying jobs and promote economic development.

Quality Jobs Program

Oklahoma’s Quality Jobs incentive program is a 10-year cash rebate that promotes job growth and helps improve your company’s bottom line by injecting cash back into your business as you expand and create new jobs in Oklahoma. The Quality Jobs program provides a cash rebate to companies that create well-paying jobs and promote economic development.

Small Employer Quality Jobs Program

The Small Employer Quality Jobs Program provides quarterly incentive payments to a qualifying small employer (500 employees or fewer). Quarterly payments may be as much as 5% of new taxable payroll for up to 7 years.

21st Century Quality Jobs Program

This Quality Jobs program is specially tuned for businesses with a highly skilled, knowledge-based workforce. This unique incentive may pay qualifying businesses cash back, up to 10 percent of new payroll, for up to ten years for the creation of 10 jobs with an annual average wage of the lesser of $112,100 or 300% of the county’s average wage.

Quality Jobs + Investment Tax Credits

These tax credits target manufacturing industries with capital investments of at least $40 million and that create new jobs paying wages above the state average. The credits also allow a five-year tax credit equal to the greater of 2 percent of investment in qualified new depreciable property or $1,000 per new job per year.

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Incentives for Investment

Rural Jobs Act

The Oklahoma Rural Jobs Act promotes greater access to capital for qualifying small businesses located in rural areas of the state. Rural Funds, their affiliates or investors may earn a tax credit on the amount equity that they invest in a Rural Fund, which must then deploy as capital expenditures to provide financing for small businesses in rural Oklahoma

Strategic Industrial Development Enhancement (SIDE) Act

The Strategic Industrial Development Enhancement (SIDE) Act promotes the competitiveness of rural industrial parks by improving connections between railroads and industrial park developments. Program participants with projects meeting eligibility requirements may earn tax credits for certain qualified economic development and/or initial infrastructure expenditures.  

Oklahoma Tourism Development Act

Oklahoma’s Tourism Development Act promotes investment in new or expanded tourism sites such as entertainment districts, destination hotels, arenas, museums, theme parks, cultural centers, and others tourism destinations. For projects that meet requirements, program participants may receive sales tax credits or a sales tax incentive payment annually for ten years.

Investment / New Jobs Package

This package provides growing manufacturers a significant tax credit based on either an investment in depreciable property or on the addition of full-time-equivalent employees engaged in manufacturing, processing, or aircraft maintenance.

Business Expansion Incentive Program (BEIP)

The Business Expansion Incentive Program (BEIP) assists Oklahoma companies making major capital investments in depreciable items like machinery, equipment and buildings. This incentive provides quarterly cash payment awards to help companies grow and expand their business investments in Oklahoma.

Research and Development Rebate Program

The Research and Development Rebate program is designed to promote research activities in Oklahoma by supporting job creation, attracting new business, and incentivizing companies already invested in Oklahoma to expand their research footprint. The Oklahoma R\&D Program allows establishments that meet the eligibility requirements to claim a 5% rebate on qualified research expenditures incurred in Oklahoma.

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Explore Communities Across Oklahoma

You've learned about the program. Now explore Oklahoma communities to better understand the places where your business—and your team—could thrive.

Explore:

• LookyLOO Reviews of Oklahoma Cities
• Neighborhood Guides
• Local Reviews
• Schools & Quality of Life
• Save Oklahoma Markets to your Project Book

Explore Oklahoma→