Investment / New Jobs Package
Oklahoma Department of Commerce
Who can apply
Participation in this benefit prohibits a manufacturer from participating in the Quality Jobs Program unless the manufacturer makes a qualifying capital investment in excess of $40 million.
About this opportunity
This tax credit provides growing manufacturers with a substantial 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. Choice of tax credit based on investment or new employees. Five-year state tax credit on the greater of 1% per year of investment in new depreciable property, or $500 per new job. Credit doubles to 2% per year based on investment or $1,000 per employee when the business is located in an Enterprise Zone. It also doubles when investments are greater than $40 million. Minimum investment of $50,000. Investment in Priority Enterprise Zones (PEZs) may take advantage of Federal Opportunity Zone Funds. PEZs have the same benefits as regular Enterprise Zone...