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Oklahoma Resources Page
Inward Investment Guides

Securing Incentives With a Well-Paid Workforce

Robert Foley, Manager, Global Location & Expansion Services, KPMG LLLP (Q4 2014)
As a growing number of states augment their business incentives with Quality Jobs programs, manufacturing, technology and other high value-add companies are well positioned to potentially reap significant and often enhanced tax and non-tax benefits. More

Communities Enable “Disruptive” Advantage for Advanced Manufacturers

Jeff Troan, Director, Lockheed Martin Corporate Treasury (Advanced Industries 2014)
To attract and retain core manufacturing businesses in the twenty-first century, communities will have to offer significant workforce development support, combined with a business climate package that makes their companies competitive with producers that enjoy lower labor costs and more favorable taxation throughout the rest of the world. More

Zero-Sum Labor - The C-Suite's Next Wicked Problem

Mark Lautman, Lautman Economic Architecture LLC (Workforce 2014)
The impending chronic shortage of qualified workers is causing employers to rethink their business models, locations, and role in their host communities. More

Oklahoma Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
Oklahoma's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Major New Developments for Keystone Pipeline

James T. Berger (Q1 2014)
Even without approval of the controversial Keystone XL phase, Canadian crude oil is now flowing through the pipeline from Canada to the Gulf for the first time. More

Regional Report: Reaching for the Stars in the Southwest

Steve Stackhouse-Kaelble (Directory 2014)
Most of the Southwest is enjoying better job growth than the nation as a whole, and all of these states have ramped up their economic development efforts. More

Critical Location Decision Factor #6: Powering Up While Keeping Costs Down

Steve Stackhouse-Kaelble (Q4 / Fall 2013)
While some operations are more energy-intensive than others, reducing energy costs is always an important consideration in the location decision. This is the Fifth in a series of articles examining the top-10 site selection factors as decided by the respondents to AD's Q1 Corporate Executive Survey. More

Leading Locations for 2013: The Southwest MSAs

Area Development Magazine Special Presentation (June 2013)
With 13 of the top 15 regional leaders, Texas is the star player in the Southwest, which also includes Arizona, New Mexico, and Oklahoma. More

OKLAHOMA at a glance

POPULATION: 3,791,508 (2011 Census)

LABOR FORCE: 1,798,940 (Aug. 2012)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES:Manufacturing, energy

EXPANDING INDUSTRIES: Aerospace and defense (incl. unmanned aerial systems); energy (incl. compressed natural gas vehicles; distribution); agriculture and biosciences: (incl. manufacturing, commodity production and distribution, research and development); information and financial services (incl. data centers, banking, cybersecurity); distribution: (air, rail, water, and pipeline transportation; warehousing and storage)

COLLEGE GRADUATES: (Age 25 and over) 22.6%

BASIC BUSINESS TAXES:
Corporate Income Tax: 6 percent of federal taxable income earned in Oklahoma

Business Activity Tax: $25 plus 1 percent of net revenue from business activity allocated or apportioned to Oklahoma

Sales and Use Tax: 4.5 percent state rate; most cities levy an additional tax of 1 to 4.25 percent; counties may levy an additional tax up to 2 percent; the average city sales tax rate is 2.1 percent, and the average county sales tax rate is 1.2 percent.

Property Tax: Levied on both real and tangible personal property at the county level; for all communities in Oklahoma, the effective property tax rate averages about 1 percent for real and personal property, exercised as a percentage of fair cash value.

BUSINESS INCENTIVES:
Oklahoma Quality Jobs Program ("cash-back" incentive for qualifying manufacturing and service employers with rebates ranging from 5 to 6 percent)

21st Century Quality Jobs Program (up to 10 percent cash back)

Quality Jobs + Investment Tax Credit incentive

Oklahoma Small Employers Quality Jobs Program ("cashback" incentive program)

Former Indian Land Tax Credit (pending renewal)

New Markets Tax Credit (federal income tax credits)

Oklahoma Finance Authorities:
• Pooled Business Finance Program

• Tax-Exempt Manufacturing Industrial Development Bond Program

Bid Assistance Centers (assistance in securing federal government contracts)

Oklahoma Center for the Advancement of Science and Technology (tech-transfer programs)

Oklahoma Capital Investment Board (venture-capital portfolio program)

Capital Access Program

Tribal financing

Export Finance Program

Customized job training

Freeport tax exemption

Industrial access road assistance

Foreign-trade zones

Local finance and build-to-suit programs (tax credits, exemptions, and refunds)

Five-year property tax abatement

Sales tax refund on construction materials

Principal Manufacturing industries

  • Machinery
    20.2%
  • Fabricated Metal Products
    16.4%
  • Food
    11.6%
  • Transportation Equipment
    8.9%
  • Plastics and Rubber Products
    7.3%
  • Nonmetallic Mineral Products
    5.1%
  • Computer and Electronic Products
    3.7%
  • Primary Metal Products
    3.3%
  • Other Manufacturing Industries
    23.5%