WE DO WHAT IT TAKES TO GET JOBS!

What does that means to the companies who are looking to expand or relocate? AN INCREASE TO THE BOTTOM LINE. With Seminole's Economic Development funding added to Oklahoma's business incentive package, Seminole is as the forefront as a location for new or existing businesses. Our business incentives are a valuable asset to improving your bottom line.

A FEW RESONS WHY SEMINOLE RANKS HIGH IN INCENTIVES

1. Easy
Oklahoma's state business incentives are simple, straightforward and statutory.

2. Business Friendly
Oklahoma's award winning Quality Jobs incentive gives qualifying enrolled companies quarterly rebates of up to five percent of taxable wages for up to 10 years. Since inception, the state has committed over $1.2 billion of incentive payments to more than 300 companies. Over 260 companies have already received more than $286 million in wage rebates. Currently, the Quality Jobs program pays benefits on more than 35,000 new jobs in the Oklahoma economy.

3. Special Federal Tax Treatment
Because of its unique history, two-thirds of Oklahoma qualifies for a special federal tax treatment. All firms in qualifying lands are entitled to utilize accelerated depreciation schedules on their federal income taxes. In addition, firms in the area that hire Native Americans or their spouses also qualify for federal income tax credits. With tax liability, this accelerated depreciation is worth in present value terms three to four percent of the cost of investment compared to a non-qualifying location. The State of Oklahoma offers two business incentive options for a new or expanding company.

A.Quality Jobs 10-Year Cash-Back Incentive
This option is targeted to manufacturers and certain service companies that utilize Oklahoma Quality Jobs program and can show a payroll investment of $2.5 million or more. A lower payroll threshold is available for certain food processing and research and development projects or as a result of location in targeted areas.

B. Investment/Jobs Tax Credit Package
Targeted primarily to manufacturing, this incentive allows tax credits o nthe great of 1% per year for five years of investment in qualified new depreciable property for a credit of $500 per year for five years per new job, doubled in an Enterprise Zone or for capital investment in excess of $40 million. The credit may be carried forward for 15 years once the credits are accumulated.

4. Other Incentives Offered
Sales Tax Refunds - available on construction materials for certain manufacturers and aircraft maintenance repair facilities; on purchases of computers, data processing equipment, and telecomunications equipment for certain aircraft facilities.
Income Tax Exemptions/Credits - for hazardous waste reuse or source reduction, CNG conversion and insurance premiums.

5. The Seminole Economic Development Council is the most agressive job creation entity in the Southwest. They have expertise to customize a package your company cannot resist.