POPULATION: 3,850,568 (2013 Census Population Estimates)
LABOR FORCE: 1,816,794 (BLS LAUS 2013 Annual)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES:Manufacturing, energy
EXPANDING INDUSTRIES: Aerospace and defense (incl. unmanned aerial systems); energy (incl. compressed natural gas vehicles; distribution, heat exchangers); 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) 23.2%
BASIC BUSINESS TAXES:
Corporate Income Tax: 6 percent of federal taxable income earned in 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 up to 5 and 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
Source: QCEW Employees, Non-QCEW Employees, Self-Employed & Extended Proprietors - EMSI Class of Worker
