Economic development resource guide

              Economic Development
Resource Guide
2010 OKcommerce.gov
Table of Contents
Business Funding
Overview 2
Small Business
Administration 3
Rural Enterprises
Insitute 5
U.S. Department of
Agriculture Programs 4
Research &
Development/Venture
Capital 6
Import/Export
Resources 9
Unsecured Financing 10
Secured Financing 12
Development Bonds 16
Business Incentives
Overview 17
Quality Jobs 18
Opportunity &
Enterprise Zones 20
New Market
Tax Credits 21
Training for
Industry Program 22
Foreign Trade Zones 23
American Indian
Land Tax Credits 24
Rural Economic
Development
Overview 25
Rural Action
Partnership Program 26
Rural Development
Specialists 27
Regional Partnerships 28
Business Recruiting 29
Communities
Overview 30
Oklahoma’s Site
Certification Program 31
Grants & Funding 32
Oklahoma Century
Communities 33
Oklahoma Main Street 34
Workforce
Overview 35
Workforce for
Businesses 36
Industry Training 37
Workforce Investment
Boards (WIBs) 38
New and Small
Business Support
Overview 39
Entrepreneurs 40
Minority &
Women-Owned
Businesses 40
Small Business
Advocacy 41
Small Business
Health Insurance 41
Export Assistance 42
Business Incubators 42
OKcommerce.gov 43
1
Change is constant,
and Oklahoma is
all about positive
change.
In today’s competitive environment, Oklahoma continues adapting to shifts in the
economic climate. The Oklahoma Department of Commerce is here to keep you
ahead of the curve. Inside, you’ll find anything and everything you need as an
economic developer or community leader in Oklahoma.
• Business Funding and Incentives • New and Small Business Support
• Rural Economic Development • Workforce and Community Development
Included here are important names and contact information for each area of interest.
As you go through this resource guide, you’ll see our website (OKcommerce.gov)
posted on almost every page. OKcommerce.gov will give you access to detailed
items that can only be delivered on an interactive platform… things like our Service
Provider Database and our Site Certification Program.
We believe the Oklahoma Department of Commerce can help your community
attract, develop and retain businesses that improve the quality of life in Oklahoma.
Overview
2
www.OKcommerce.gov/bizfunds
Business Funding
Business
Funding
Overview
Every day, hundreds of Oklahoma small businesses are
paying salaries, providing services, creating products,
buying and selling — across the street and around the
globe. Small businesses survive based on access to
appropriate financing. And, while there are many resources
for financing available to small businesses in Oklahoma, the
process can be complex and resources can be potentially
difficult to access.
The references represented here provide an introduction
and an overview for a wide variety of financial resources.
Despite the popularity of late-night
infomercials promoting grant money
for start-up businesses, the Oklahoma
Department of Commerce is not
aware of such funding for businesses.
Typically, grant money is only available
to assist non-profit organizations.
Non-profit, organizations should start
with www.grants.gov.
3
www.OKcommerce.gov/bizfunds
Business Funding
Small Business
Administration
SBA 7(A) Guaranty Loan Program
The Small Business Administration 7(a) loan is the
most basic and most used type of loan in SBA busi-ness
loan programs. Its name comes from section
7(a) of the Small Business Act, which authorizes the
agency to provide business loans to American small
businesses.
These loans are only available on a guaranty basis.
This means they are provided by lenders who choose
to structure their own loans by SBA requirements and
who apply and receive a guaranty from SBA on a por-tion
of this loan.
SBA Microloan Program
The SBA Microloan Program combines the
resources and experience of the U.S. Small Business
Administration with those of locally based nonprofit
organizations to provide small loans and technical
assistance to small businesses.
Under the Microloan Program, the SBA makes funds
available to qualified nonprofit organizations, which
act as intermediary lenders. Lenders use these
funds to make loans of up to $35,000 to new and
existing small businesses. Intermediaries also pro-vide
management and technical assistance to help
ensure success.
SBA Export Working Capital
Guarantee Program
Under the program, the SBA backs up a business
loan request with its repayment guaranty. The SBA
guarantees up to $1 million or 90 percent of the loan
amount, whichever is less; offers exporters prelimi-nary
commitments that encourage lenders to provide
credit; and offers a simplified application.
U.S. Small Business Administration
Community Express Loan Program
This program is offered to pre-designated geographic
areas serving mostly low and moderate income areas
and new market small businesses. The program also
includes technical and management assistance,
which is designed to help increase the loan appli-cant’s
chances of success.
Eligibility and application information:
U.S. Small Business Administration
Oklahoma City District Office
Federal Building
301 NW 6th St, Ste. 116
Oklahoma City, OK 73102
405-609-8000
www.sba.gov/ok
Oklahoma Small Business
Development Centers
With a network of 15 centers located across the state,
the Oklahoma Small Business Development centers
(OSBDCs) provide high-quality, one-to-one busi-ness
counseling, economic development assistance,
and training to small business and entrepreneurs.
Potential benefits from working with the OSBDC’s:
• Business plan development and implementation
assistance
• Increased profitabilitly
• Management support
• Innovation advancement
• Government contract procurement assistance
Contact your local OSBDC: www.osbdc.org
4
www.OKcommerce.gov/bizfunds
Business Funding
U.S. Department
of Agriculture
Programs
Intermediary Relending Program
The Intermediary Re-lending Program (IRP) finances
business facilities and community develop-ment
projects in rural areas. To do this, the Rural
Business-Cooperative Service (RBS) loans money to
intermediaries. Intermediaries then re-lend funds for
business and community development. Intermediaries
establish revolving loan funds, with repayment creat-ing
more opportunity for more loans.
Rural Economic Development
Loans and Grants
The Rural Economic Development Loans and Grants
(REDLG) program makes direct zero-interest loans
and grants to Rural Utilities Service (RUS) electric
and telecommunication utilities that use the funds to
provide financing for business and community devel-opment
projects. Zero-interest loans are provided
to finance a broad array of projects, including for-profit
businesses.
Grants are provided to the RUS utility to establish
a revolving loan fund to finance such purposes as
community development assistance, education and
training for economic development, medical care,
telecommunications for education, job training or
medical services, business incubators and technical
assistance. Program funds can be used for value-added
projects.
Contact
Business and Community Programs
100 USDA, Suite 108
Stillwater, OK 74074
Phone 405-742-1000
Fax 405-742-1005
www.rurdev.usa.gov/ok
For a list of Intermediary Re-lending Program
Lenders go to www.OKcommerce.gov/bizfunds
and then click on U.S. Department of
Agriculture Programs.
5
www.OKcommerce.gov/bizfunds
Business Funding
Rural Enterprises of
Oklahoma, Inc.
Small Business Lending
Rural Enterprises of Oklahoma, Inc. (REI) has evolved
from the small business lending arena into a multi-fac-eted
economic development organization. REI has
become the model of study for effective economic
development services.
• REI has offices in Alva, Durant, Oklahoma City
and Tulsa.
• REI manages business incubators in 10 Oklahoma
communities.
• Offers affordable housing opportunities for
Oklahoma working families
• Provides international trade assistance to
Oklahoma businesses
• Offers a variety of business lending programs
• Targets Oklahoma’s women-owned businesses
with services of the Women’s Business Center from
two locations, Durant and Oklahoma City.
• Offers an equipment lease/purchase program
designed to assist small, rural manufacturers
• REI New Markets Investment, LLC administers
the New Markets Tax Credit and Oklahoma State
Tax Credit Programs to bring new investments into
low-income communities
REI has a team of 36 economic development pro-fessionals
who have been expanding Oklahoma’s
economy since 1982 through effective economic
development services. REI has a statewide network of
partners to help deliver its programs.
Contact
REI Corporate Headquarters
2912 Enterprise Blvd.
Durant, OK 74701
Phone 800-658-2823
www.ruralenterprises.com
6
www.OKcommerce.gov/bizfunds
Business Funding
Research &
Development/
Venture Capital
Oklahoma Center for the Advancement
of Science and Technology
Oklahoma Center for the Advancement of Science
and Technology (OCAST) works to grow Oklahoma’s
knowledge-based economy by building the infra-structure
of expertise and equipment needed to
conduct nationally competitive research and devel-opment
in Oklahoma and stimulate Oklahoma firms
applying and producing technology. OCAST imple-ments
programs and initiatives to impact the entire
technology development pipeline from basic research
through commercialization and application.
Contact
Oklahoma Center for the
Advancement of Science & Technology
755 Research Parkway, Suite 110
Oklahoma City, OK 73104
(866) 265-2215 or (405) 524-1357
www.ocast.state.ok.us
7
www.OKcommerce.gov/bizfunds
Business Funding
Innovation to Enterprise
Innovation to Enterprise, Inc. (i2E) is a private, not-for-
profit Oklahoma corporation focused on wealth
creation in Oklahoma by growing the technology-based
entrepreneurial economy in Oklahoma. i2E
was founded in 1997 and operates the following pro-grams
for OCAST.
• Oklahoma Technology
Commercialization Center
• Seed Capital Fund
• Oklahoma Investment Forum
• Enterprise Oklahoma Venture Fund
Contact
i2E
840 Research Parkway, Suite 250
Oklahoma City, OK 73104
800-337-6822
www.i2E.org
Oklahoma Venture Forum
The Oklahoma Venture Forum is a non-profit group
organized in Oklahoma City to encourage and pro-mote
economic and small business development
through private enterprise. For membership details,
use contact information below.
Contact
Oklahoma Venture Forum
P.O. Box 20209
Oklahoma City, OK 73156
405-341-6545
www.ovf.org
The Southwest Capital Conference
This conference has been one of the leading capital
conferences in the nation. The SWCC offers a robust
educational program for the entrepreneurial, private
equity and service provider communities focused
on the development of high growth companies.
Additionally, companies are showcased to investors
and business professionals from across the nation.
Contact
Oklahoma Investment Forum
415 S Boston, Ste 800
Tulsa, OK 74103
918-584-8884
www.i2E.org
8
www.OKcommerce.gov/bizfunds
Business Funding
Oklahoma Capital Investment Board
The Oklahoma Capital Investment Board (OCIB) sup-ports
investments in venture capital firms who will, in
turn, make venture capital investments in Oklahoma
businesses.
OCIB supports investment in funds ranging from
early stage venture capital to subordinated debt. The
Oklahoma Capital Investment Board is an instrumen-tality
of the State of Oklahoma. The Board manages a
$100 million resource.
Contact
Oklahoma Capital Investment Board
301 NW 63rd, Suite 520
Oklahoma City, OK 73116
405-848-9456
www.ocib.org
Small Corporate Offering Registration
The Small Corporate Offering Registration (SCOR) is
a securities offering program available to small corpo-rations
and limited liability companies. The program
contemplates offerings that are exempt from federal
registration under (1) Rule 504 of Regulation D, (2)
Regulation A, or (3) Rule 147 of the Securities Act of
1933. Oklahoma is one of 42 states that allow SCOR
offerings and the Pacific Stock Exchange lists SCOR
securities under certain conditions.
Contact
Oklahoma Department of Securities
First National Center, Suite 860
120 North Robinson
Oklahoma City, OK 73102
405-280-7700
www.securities.state.ok.us
U.S. Small Business Administration –
Small Business Investment Companies
The Small Business Investment Company (SBIC)
program is designed to fill the gap between the avail-ability
of venture capital and the needs of small
businesses that are either starting or growing.
Contact
Chisholm Private Capital Partners
211 North Robinson, Suite 1910
Oklahoma City, OK 73102
405-605-1111
www.ChisolmVC.com
Council Oak Investment Corporation
101 North Broadway, Suite 400
Oklahoma City, OK 73102
405-218-4696
First United Venture Capital Corporation
1400 West Main Street
Durant, OK 74701
580-920-4907
U.S. Small Business Administration - Oklahoma City
District Office
Federal Building
301 NW 6th St, Ste. 116
Oklahoma City, OK 73102
405-609-8000
www.sba.gov/ok
9
www.OKcommerce.gov/bizfunds
Business Funding
Import/Export
Resources
Overseas Private Investment Corporation
Overseas Private Investment Corporation (OPIC)
helps U.S. businesses invest overseas, fosters eco-nomic
development in new and emerging markets,
complements the private sector in managing the risks
associated with foreign direct investment, and sup-ports
U.S. foreign policy. OPIC provides financing
to ventures involving significant equity and/or man-agement
participation by U.S. businesses. Loans
to qualifying businesses can be tailored to meet the
specific needs of overseas operations.
Overseas Private Investment
Corporation Political Risk Insurance
OPIC Political Risk Insurance provides the peace of
mind necessary to pursue opportunities in emerging
markets.
Contact
Overseas Private Investment Corporation
Attn: Small Business Center
1100 New York Avenue, NW
Washington, D.C. 20527
800-225-5722
www.opic.gov
Export-Import Bank of the United
States Export Credit Insurance
The insurance covers commercial losses due to insol-vency,
bankruptcy and default at 95 percent; and
political losses due to war, revolution, cancellation of
an import or export license, currency inconvertibility
at 100 percent. There is no first-loss deductible.
Fixed-Rate Term Financing
for International Buyers
Export-Import (Ex-Im) Bank assists exporters by
guaranteeing term financing to creditworthy inter-national
buyers, both private and public sector, for
purchases of U.S. goods and services. With Ex-Im
Bank’s loan guarantee, international buyers are able
to obtain competitive term financing from lenders
when financing is not available or there are no eco-nomically
viable interest rates on terms over one to
two years.
Working Capital Guarantees
Ex-Im Bank’s working capital financing enables U.S.
exporters to obtain loans to produce or buy goods
or services for export. These working capital loans,
made by commercial lenders and backed by the
Ex-Im guarantee, provide exporters with the liquid-ity
to accept new business, grow international sales
and compete more effectively in the international
marketplace.
Contact
Houston Regional Office
Export-Import Bank
1880 South Dairy Ashford II, Suite 585
Houston, TX 77077
281-721-0470
www.exim.gov
10
www.OKcommerce.gov/bizfunds
Business Funding
SBA Export Working Capital
Guarantee Program
Under the program, the SBA backs up a business
loan request with its repayment guaranty. The SBA
guarantees up to $1 million or 90 percent of the loan
amount, whichever is less; offers exporters prelimi-nary
commitments that encourage lenders to provide
credit; and offers a simplified application.
Contact
U.S. Small Business Administration
Oklahoma City District Office
Federal Building
301 NW 6th St. Ste. 116
Oklahoma City, OK 73102
405-609-8000
www.sba.gov/ok
Unsecured
Financing
Community Development Block Grant –
Economic Development
Infrastructure Financing
The Community Development Block Grant (CDBG)
federal program administered by the Oklahoma
Department of Commerce uses publicly owned and
maintained infrastructure.
Eligible projects to be financed by this program are
publicly owned and maintained improvements that
will provide basic infrastructure services to a new or
expanding business. At least 51 percent of the new
jobs must be made available to low and moderate
income individuals.
Such improvements may include, but are not limited
to, water, wastewater, transportation improvements,
and rehabilitation and new construction of publicly
owned industrial buildings.
Communities fall under one of two financing options.
Infrastructure that supports an existing busi-ness
can qualify up to a $500,000 grant maximum.
Infrastructure that supports a new business
to the State of Oklahoma can qualify up to
a $1 million grant maximum.
Contact
Scott Myers
Oklahoma Department of Commerce
800-879-6552
scott_myers@OKcommerce.gov
11
www.OKcommerce.gov/bizfunds
Business Funding
U.S. Small Business Administration
504 Loan Program
The federal government, through the Small Business
Administration (SBA), provides permanent financing
for companies with its 504 loan program. Certified
Development Companies (CDCs), authorized by the
SBA, administer the program. The 504 loan program
is a long-term financing tool for economic devel-opment
within a community. The program provides
growing businesses with long-term, fixed-rate financ-ing
for major fixed assets, such as land and buildings.
A CDC works with the SBA and private sector lend-ers
to provide financing to small businesses within its
specific geographic area.
Proceeds from 504 loans must be used for fixed
asset projects such as purchasing land and improve-ments,
including existing buildings; grading; street
improvements; utilities; parking lots and landscaping;
construction of new facilities; or modernizing, reno-vating
or converting existing facilities; or purchasing
machinery and equipment. The 504 program cannot
be used for working capital or inventory, consolidat-ing
or repaying debt, or refinancing.
Contact
U.S. Small Business Administration (or your local
Certified Development Company)
Oklahoma City District Office
Federal Building, Ste. 116
301 NW 6th St
Oklahoma City, OK 73102
405-609-8000
www.sba.gov/ok/financing
SBA’s 504 Certified Development Companies
Metro Area Development
Corporation
6412 N Santa Fe, Suite C
Oklahoma City, OK 73116
405-424-5181
Rural Enterprises of
Oklahoma, Inc.
P.O. Box 1335
Durant, OK 74702
580-924-5094
SWODA Development
Corporation
P. O. Box 569
Burns Flat, OK 73624
580-562-4882
Small Business Capital
Corporation
15 W Sixth St., Suite 1300
Tulsa, OK 74119-5406
918-584-7888
Tulsa Economic Development
Corporation
907 South Detroit Avenue, Suite
1001
Tulsa, OK 74120
918-585-8332
Verd-Ark-Ca Development
Corporation
1700 W Broadway
Muskogee, OK 74401
918-683-4634
12
www.OKcommerce.gov/bizfunds
Business Funding
Secured Financing
Bureau of Indian Affairs Loan Guaranty Fund
The Bureau of Indian Affairs (BIA) provides guaran-teed/
insured loans to Federally Recognized Indian
Tribal Governments, Native American Organizations,
and individual American Indians in obtaining financing
from private sources to promote business devel-opment
initiatives on or near Federally Recognized
Indian Reservations.
Loans may be used to finance commercial, indus-trial,
agricultural, or business activities organized for
profit. Loan guarantees to private lenders will only be
provided if funds otherwise would be unavailable to
the borrower. Funds may not be used for speculation.
The financial assistance must be used on or near an
Indian Reservation.
Contact
Bureau of Indian Affairs Area Credit Office
P.O. Box 8002
Muskogee, OK 74402-8002
Phone 918-781-4622
Oklahoma Agriculture Enhancement
& Diversification Program
Oklahoma Agriculture Enhancement & Diversification
Program (OAEDP) is a program designed to develop
or improve uses for agricultural products, expand
the state’s production of value-added products and
to encourage diversified farming. Interest free loans
and grants are available through four program areas:
Marketing Utilization Loan, Cooperative Marketing
Loan, Basic and Applied Research Loan/Grant and
Farm Diversification Grant.
Marketing Utilization Loan
Can be used to assist in the development or imple-mentation
of sound domestic or foreign marketing
plans for Oklahoma agricultural products, by-prod-ucts,
or new or better uses for existing agricultural
products by the financing of marketing feasibility
studies, business plans and test marketing.
Cooperative Marketing Loan
Are available to entities or individuals wishing to work
together to develop or establish production, process-ing
or marketing of agricultural products. The purpose
of this category is to provide funding for promot-ing
productivity, providing added value to agricultural
products stimulating and fostering agricultural diversi-fication
and encouraging processing innovations.
Basic & Applied Research Loan/Grant
For business creation, expansion or research which
shall likely lead to a marketable product. Proposals
should focus research efforts on use and processing
of agricultural products and by-products in Oklahoma.
Farm Diversification Grant
Can be used for projects dealing with the diver-sification
of existing family farms or ranches to
nontraditional crops, livestock, or on-farm value-added
processing of agricultural commodities.
Contact
Oklahoma Department of Agriculture, Food & Forestry
Market Development Services
P.O. Box 528804
Oklahoma City, OK 73152
405-522-5563
www.oda.state.ok.us
13
www.OKcommerce.gov/bizfunds
Business Funding
Economic Development Administration
The Economic Development Administration (EDA)
oversees multiple programs offering develop-ment
assistance to targeted communities that meet
specific criteria for economic distress. These pro-grams
include the Planning and Assistance Program,
the Economic Adjustment Assistance Title IX
Revolving Loan Fund, and grants for Public Works
and Development Facilities, Planning Assistance,
Technology Assistance, and Trade Adjustment
Assistance.
Contact
Association of Central Oklahoma Governments
(ACOG)
21 E. Main Street, Suite 100
Oklahoma City, OK 73104-2405
John G. Johnson, Executive Director
(405) 234-2264
Counties: Canadian, Cleveland, Logan, Oklahoma
Association of South Central Oklahoma Governments
(ASCOG)
802 Main Street
Duncan, OK
Blaine Smith, Executive Director
(580) 252-0595
Counties: Caddo, Comanche, Cotton, Grady,
Jefferson, McClain, Stephens, Tillman
Central Oklahoma Economic Development District
(COEDD)
400 N Bell
Shawnee, OK 74801
Gregory Clifton, Executive Director
(405) 273-6410
Counties: Hughes, Lincoln, Okfuskee, Pawnee,
Payne, Pottawatomie, Seminole
Eastern Oklahoma Development District (EODD)
1012 North 38th Street
Muskogee, OK 74402
(918) 682-7891
Counties: Adair, Cherokee, McIntosh, Muskogee,
Okmulgee, Sequoyah, Wagoner
Grand Gateway Economic Development Association
(GGEDA)
P.O. Drawer B
Big Cabin, OK 74332-0502
Ed Crone, Executive Director
(918) 783-5793
Counties: Craig, Delaware, Mayes, Nowata, Ottawa,
Rogers, Washington
Indian Nations Council of Governments (INCOG)
200 West Fifth Street, Suite 800
Tulsa, OK 74103-4236
Rich Brierre, Executive Director
(918) 584-7526
Counties: Creek, Osage, Tulsa, Wagoner
Kiamichi Economic Development Organization
(KEDDO)
P.O. Box 638
Wilburton, OK 74578-0638
(918) 465-2367
Chester Dennis, Executive Director
Counties: Choctaw, Haskell, Latimer, Leflore,
McCurtain, Pittsburg, Pushmataha
Northern Oklahoma Development Association
(NODA)
2901 North Van Buren
Enid, OK 73701
(580) 237-4810
Larry Tipps, Executive Director
Counties: Alfalfa, Blaine, Garfield, Grant, Kay,
Kingfisher, Major, Noble,
Oklahoma Economic Development Association
(OEDA)
P.O. Box 668
Beaver, OK 73932-0668
(580) 625-4531
Mike Bostic, Executive Director
Counties: Beaver, Cimarron, Dewey, Ellis, Harper,
Texas, Woods, Woodward
Southern Oklahoma Development Association
(SODA)
224 West Evergreen, Suite 202
Durant, OK 74702
(580) 920-1388
Wes Bowman, Executive Director
Counties: Atoka, Bryan, Carter, Coal, Garvin,
Johnston, Love, Marshall, Murray, Pontotoc
South West Oklahoma Development Association
(SWODA)
Sooner Drive, Building 420
Burns Flat, OK 73624
(580) 562-4882
Gary Gorshing, Executive Director
Counties: Beckham, Custer, Greer, Harmon, Jackson,
Kiowa, Roger Mills, Washita
14
www.OKcommerce.gov/bizfunds
Business Funding
Oklahoma Capital Access Program
The Oklahoma Capital Investment Board supports
investments that catalyze new sources of equity and
near-equity capital for Oklahoma business. The board
manages a $100 million resource. Through its venture
capital program, the board supports investments in
private, professionally managed venture capital firms
that will commit to building an enduring presence
within the state.
Through its Oklahoma Capital Access Program (CAP),
the board provides credit insurance to banks to help
them stretch to make loans to Oklahoma businesses
that might not otherwise be made.
Contact
Oklahoma Capital Investment Board
301 NW 63rd St., Ste. 520
Oklahoma City, OK 73116
405-848-9456
www.ocib.org
Oklahoma Industrial Finance Authority
The Oklahoma Industrial Finance Authority (OIFA) pro-vides
financing for real estate and equipment. Its
primary purpose is to assist industrial development in
the state by increasing employment. Businesses may
contact the Oklahoma Industrial Finance Authority
to explore financing available to them under these
guidelines:
• $5 million limit
• Fixed asset collateral (land, buildings and equipment)
• Up to 15-year term
• Fixed rate terms
• Loan recipient can be private or public entity
• Expansions or relocations
• Bank participation encouraged
• Below market rates for tax-exempt qualified projects
Contact
Oklahoma Finance Authorities
5900 N Classen Ct.
Oklahoma City, OK 73118
405-842-1145
15
www.OKcommerce.gov/bizfunds
Business Funding
Oklahoma Linked Deposit Loan Programs
The Oklahoma Treasurer administers the Linked
Deposit Loan Programs, created in 1987 to provide
special, low-interest loans to eligible family farmers
and small businesses.
This is an economic development tool that reduces
debt service costs to Oklahoma small businesses.
The program helps preserve existing jobs as well as
helping create jobs and business expansion. It can
be used for a broad range of business and types of
industry.
Oklahoma Agriculture Linked
Deposit Loan Programs
This economic development program is aimed at
reducing debt service costs to Oklahoma farmers
and ranchers. The linked deposit loans are available
to at-risk farm or ranch operations or to alternative
agricultural product operations who are residents of
Oklahoma and whose business operation is located
in this state.
Contact
State Treasurer’s Office
2300 N Lincoln Blvd, Room 217
Oklahoma City, OK 73105
405-522-4235
www.ok.gov/treasurer
16
www.OKcommerce.gov/bizfunds
Business Funding
Development
Bonds
General Obligation Limited Tax Bonds
Many Oklahoma counties and cities have voted
approval of General Obligation Limited Tax Bonds
(GOLTBs) for industrial development. These units of
government are limited to the amount that could be
retired by a special tax levy of not more than five mills
on the assessed dollar valuation of all taxable real
and personal property in that county or city.
The proceeds for GOLTBs are generally used to
acquire or build a facility for manufacturing and
industrial projects. Lease income from the facility is
used to amortize the bonds.
Contact
Local Industrial Development Authority, or
Oklahoma Department of Commerce
Business Division
900 N. Stiles
Oklahoma City, OK 73104
800-879-6552
Conduit Program
The Oklahoma Development Finance Authority’s
Conduit Program was established to provide any
entity (public or private) an avenue to issue revenue
bonds, rates, certificates of participation or other evi-dence
of indebtedness. Funds generated by such
sale are then available for loans to qualified borrow-ers.
In most instances the Conduit Program provides
an entity with more favorable rates than they nor-mally
could obtain on their own. The program utilizes
ODFA’s market presence to provide access to Wall
Street, has no limits on dollar amount and can be for
tax-exempt or taxable obligations.
Contact
Oklahoma Finance Authorities
5900 N Classen Court
Oklahoma City, OK 73118
405-842-1145
Private Activity Bond Allocation Program
Private activity bonds are available to state and local
finance authorities for allocation to manufacturers
and farmers in addition to housing authorities, stu-dent
loan programs and other programs. These types
of bonds are defined in two ways: Private activity
bonds are any bonds of which more than 10 percent
of the proceeds is to be used in a trade or business
of anyone other than a governmental unit, and which
is to be directly or indirectly repaid, or secured by
revenues from, a private trade or business. Also, pri-vate
activity bonds are any bonds in which an amount
exceeding 5 percent or $5 million – whichever is less –
of the proceeds is to be used for loans to any person
or persons other than a governmental unit.
Contact
State Bond Advisor
5900 N Classen Court
Oklahoma City, OK 73118
405-602-3100
www.ok-bonds.state.ok.us
17
www.OKcommerce.gov/incentives
Business Incentives
Business
Incentives
Overview
The State of Oklahoma has been recognized nationally
for its outstanding business location and job growth
incentives. Qualifying businesses can choose between
two primary business incentive options for newly
locating or expanding companies — outlined as
Option 1 or Option 2. Additionally, a wide range of tax
credits, refunds, and workforce training benefits are
available to help a company succeed. A comprehensive
overview of Oklahoma’s business incentives can be found
in the Oklahoma Business Incentives and Tax Guide
www.OKcommerce.gov/incentives.
For a customized incentive
analysis, call 800-879-6552
and ask for Martin Roberts.
18
www.OKcommerce.gov/incentives
Business Incentives
Quality Jobs
Option 1:
Oklahoma’s Quality Jobs incentive targets manufac-turers
and certain service industries that have a new
payroll investment of $2.5 million or more to receive
a quarterly cash payment of up to 5 percent of new
taxable payroll for up to 10 years. A lower payroll
threshold is available for certain food processing and
research and development projects or as a result of
locating in targeted areas. Qualifying average wage
requirements will vary among counties.
Effective with new legislation on July 1, 2009, a Prime
Contractor with a Federal Contract is eligible to partici-pate
in the Quality Jobs Program receiving benefits not
only from jobs and wages created at the Prime, but also
in locations where work is passed from the Prime to a
subcontractor. The Prime is paid at the fully reimbursable
labor rate specified in the Federal Contract, up to 2%
of the new wages created. Other Quality Jobs Program
performance requirements apply.
Small Employer Quality Jobs
Seven-Year - Cash Incentive
The Small Employer Quality Jobs incentive allows quali-fying
small businesses (90 or fewer employees) that are
creating new direct jobs within one year to receive up to
a 5 percent cash-back incentive (for up to seven years)
to locate or expand in Oklahoma. The qualifying average
wage requirement will vary among counties.
Option 2: Investment/New Jobs Tax Credit
Targeted primarily to manufacturing companies, the
Investment/New Jobs Tax Credit incentive allows a
five-year tax credit on the greater of 1 percent per
year of investment in qualified new depreciable prop-erty
or a credit of $500 per new job. These incentives
double in an enterprise zone to 2 percent of new
investment or $1,000 per new job. Additional sales
tax refunds and/or income tax exemptions/credits
may apply.
Additional Incentives Available
with Options 1 and 2
For comprehensive details on the following incen-tives,
go to OKcommerce.gov/incentives or follow the
individual links for more information.
• Five-year ad valorem tax exemption
• No-cost or low-cost customized employee training
• Sales tax exemptions
• Freeport inventory benefits
• Industrial access road assistance (limited under
Option 1)
• Foreign Trade Zones
• American Indian Land tax credits
• Opportunity and enterprise zones
• Opportunity fund
• State and local financing programs
Option 3: Quality Jobs Program
& Investment Tax Credit
Beginning January 1, 2010, a company may pursue
participation in both the Quality Jobs Program and the
Investment Tax Credit. The qualifying investment must
be $40 million or more, and wages paid in the Quality
Jobs Program must be at $35,131 or higher. The credit
equals 2% of the qualifying investment in Capital
Expenditures.
Disclaimer
The materials contained in this publication have been
prepared by the Oklahoma Department of Commerce
for informational purposes only and do not consti-tute
legal or tax advice. This information is subject to
change based on judicial interpretation and legislative
action. The application of the information is subject to
your unique facts and circumstances. YOU SHOULD
NOT ACT UPON ANY INFORMATION CONTAINED IN
THESE MATERIALS WITHOUT SEEKING YOUR OWN
PROFESSIONAL LEGAL AND TAX ADVICE.
19
www.OKcommerce.gov/incentives
Business Incentives
Don’t pay someone to help you with your Quality
Jobs application; the Oklahoma Department of
Commerce provides assistance for FREE!
Quality Jobs Application Deadline
Applications accepted throughout the year, anytime
prior to new hires.
A Simple and Easy Application Process
1) Contact an Oklahoma Quality Jobs representative
at the Oklahoma Department of Commerce,
800-879-6552, to request a preliminary cost-benefit
analysis. This analysis estimates the
payments that a project may be eligible to obtain.
2) If your company wishes to pursue application for
the program, you then submit a formal application
to the Oklahoma Department of Commerce.
Commerce determines eligibility for the initial
contract and makes the formal contract offer to
qualifying companies.
For Assistance
Technical assistance regarding program concepts,
eligible companies, application guidelines and other
information pertaining to the Quality Jobs Program is
available upon request and encouraged.
Contact
Martin Roberts
Oklahoma Department of Commerce
800-879-6552
martin_roberts@ OKcommerce.gov
20
www.OKcommerce.gov/incentives
Business Incentives
Tax Credit. Additionally, companies obtaining ad
valorem exemptions from local taxing entities may be
exempted for up to six years, rather than five.
Contact
Steve Barker
Oklahoma Department
of Commerce
800-879-6552
steve_barker@ OKcommerce.gov
To see maps of all Opportunity
and Enterprise Zones, go to:
www.OKcommerce.gov/incentives
Opportunity And
Enterprise Zones
Businesses located in one of Oklahoma’s Opportunity
or Enterprise Zones may receive enhanced financial
incentives for stimulating economic expansion in rural
and disadvantaged communities.
What are Opportunity and Enterprise Zones?
Opportunity Zones are those census tracts in which,
according to the most recent federal decennial cen-sus,
at least 30 percent of the residents have an
annual gross household income from all sources
below the poverty guidelines established by the U.S.
Department of Health and Human Services.
Opportunity Zones are generally the only areas in
Oklahoma, Tulsa, and Cleveland counties where com-panies
may qualify to use the Small Employer Quality
Jobs Incentive Act.
If a company is locating in an Opportunity Zone
and meets the other requirements to qualify for the
Oklahoma Quality Jobs Program Act, then it does
not have to also meet the new wage threshold intro-duced
in 2003. This legislation requires, in general,
that salaries of the new direct jobs must equal the
average county wage or the cap which renews annu-ally,
whichever is lower (Refer to the Quality Jobs
Guidelines for the latest figures). As well, these com-panies
receive an automatic 5 percent benefit level.
Enterprise Zones can be designated in disad-vantaged
counties, cities or portions of cities. The
Oklahoma Department of Commerce designates
Enterprise Zones and publishes lists of eligible coun-ties,
cities and census tracts.
Bottom-Line Benefits
Businesses locating in an Opportunity Zone are not
subject to the annualized average wage require-ment
in the standard Quality Jobs Program. Within
the Small Employer Quality Jobs Program, only busi-nesses
in Oklahoma and Tulsa counties located
within an Opportunity Zone are eligible to apply.
Businesses located in an Enterprise Zone are eli-gible
to receive double the Investment/New Jobs
Disclaimer
The materials contained in this publication have been
prepared by the Oklahoma Department of Commerce
for informational purposes only and do not consti-tute
legal or tax advice. This information is subject to
change based on judicial interpretation and legislative
action. The application of the information is subject to
your unique facts and circumstances. YOU SHOULD
NOT ACT UPON ANY INFORMATION CONTAINED IN
THESE MATERIALS WITHOUT SEEKING YOUR OWN
PROFESSIONAL LEGAL AND TAX ADVICE.
21
www.OKcommerce.gov/incentives
Business Incentives
Three Oklahoma organizations have been
selected as eligible Community Development
Entities (CDEs) for purposes of the New
Markets Tax Credits on behalf of the U.S.
Department of Treasury. The CDEs are the REI
New Markets Investment, LLC; Meta Fund,
Inc.; and New Markets Redevelopment LP.
Eligible investors in these organizations may
qualify for federal income tax credits when
the organizations invest in underserved low-income
communities. The credits are 5 percent
of investment for the first three years of the
credit and 6 percent for the last four years of
the credit, for a total of 39 percent of invest-ment
over the seven years of credit period.
Contact:
Cherokee Nation Businesses Economic
Development Company
777 West Cherokee Street
Catoosa, OK 74105
918-384-7774
Meta Fund, Inc.
2225 N May Avenue
Oklaoma City, OK 73107
405-949-0001
info@metafund.org,
New Markets Redevelopment LP
5801 N Broadway Extension, Suite 120
Oklahoma City, OK 73118
405-842-0100
Disclaimer
The materials contained in this publication have been
prepared by the Oklahoma Department of Commerce
for informational purposes only and do not consti-tute
legal or tax advice. This information is subject to
change based on judicial interpretation and legislative
action. The application of the information is subject to
your unique facts and circumstances. YOU SHOULD
NOT ACT UPON ANY INFORMATION CONTAINED IN
THESE MATERIALS WITHOUT SEEKING YOUR OWN
PROFESSIONAL LEGAL AND TAX ADVICE.
New Market
Tax Credits
22
www.OKcommerce.gov/incentives
Business Incentives
Example programs include:
• LEAN practices
• Six Sigma
• Supply chain management
• High-performance work systems
• Strategic planning
• Team training
• Project management
Contact
Scott Smith
CareerTech
800-879-6552
scott_smith@
OKcommerce.gov
Training For Industry
Program
Consistently ranked as one of the nation’s leading workforce
training incentives, Oklahoma’s Training for Industry Program
(TIP) is a low- or no-cost way for new or growing qualifying com-panies
that create jobs to get a skilled, focused, and motivated
workforce.
Highly trained professionals deliver customized technical, man-agerial,
and general workplace skills through a network of
technology centers across the state.
Totally Customized
Every business is different. That’s why flexibility is key to meet-ing
your specific start-up requirements. This program offers the
freedom and flexibility to deliver the training you need to ensure a
skilled workforce.
World-Class System
TIP can be delivered at your site or one of 56 technology center
campuses across the state. These are modern, state-of-the-art
facilities with up-to-date equipment and knowledgeable, busi-ness-
savvy instructors.
Technical Skills and More
Employees need much more than basic technical skills to ensure
your success. That’s why Career Tech also covers everything
from company orientation to customer service, software exper-tise
to inventory management, supervisory development to ISO,
SPC and process improvement, team and interpersonal skills to
safety.
Long-Term Relationship
TIP is just the beginning of a long-term relationship. Career Tech
also provides no cost/low cost ongoing upgrade training to keep
your employees on the leading edge. Each year, nearly 3,000
Oklahoma employers take advantage of this resource.
Disclaimer
The materials contained in this publication have been
prepared by the Oklahoma Department of Commerce
for informational purposes only and do not consti-tute
legal or tax advice. This information is subject to
change based on judicial interpretation and legislative
action. The application of the information is subject to
your unique facts and circumstances. YOU SHOULD
NOT ACT UPON ANY INFORMATION CONTAINED IN
THESE MATERIALS WITHOUT SEEKING YOUR OWN
PROFESSIONAL LEGAL AND TAX ADVICE.
23
www.OKcommerce.gov/incentives
Business Incentives
Foreign Trade Zones
Foreign Trade
Zones
If you conduct International business, locating your
business in one of Oklahoma’s four Foreign Trade
Zones will help you save money and take advantage
of efficiencies in customs procedures. In addition to
our strategic location in the geographic center of the
U.S., Oklahoma offers an expansive transportation
system and state-of-the-art industrial parks ideal for
businesses importing and warehousing, manufactur-ing,
or assembling with imported goods.
Oklahoma’s Four Foreign Trade Zones
FTZ 164
The Port of Muskogee, located on the McClellan
Kerr Arkansas River Navigation System, provides
high-capacity barge, rail, and truck services. The
Port is currently constructing the largest state-of-the-
art marina providing in part, docking facilities
for both domestic and international vessels.
For Port of Muskogee Assistance: Scott Robinson,
918-682-7886, www.muskogeeport.com.
FTZ 53
The Tulsa Port of Catoosa, also on the McClellan
Kerr Arkansas River Navigation System, provides
rail, barge and truck transportation services from
Oklahoma to ports through out the world.
For Tulsa Port of Catoosa Assistance: Bob Portiss,
918-266-2291, www.tulsaport.com.
FTZ 106
The Port Authority at Will Rogers International Airport of
the Greater Oklahoma City Area is the governing board and
Oklahoma’s largest Foreign Trade Zone, having responsibility
for a 42-county service area in central and western Oklahoma.
For Greater Oklahoma City Area Zone Assistance: Matthew S.
Weaver, 405-623-5335, foreigntradezone106.org
FTZ 227
The International Business Park in Durant is a thriving 320-acre
park, serving southern and southeastern Oklahoma and Texas.
Interstate Hwy 35, the primary trunk of the NAFTA Super
Highway Systems, lies just 45 miles west of the zone.
For International Business Park in Durant Assistance: Joy C.
Rambo, 800-658-2823.
24
www.OKcommerce.gov/incentives
Business Incentives
Benefits
• Accelerated Federal Property Depreciation Schedule
• Federal Employment Tax Credits of up to $4,000 per qualifying
employee per year
• Savings of up to 35 percent to 40 percent in depreciation of
equipment
Contact:
Martin Roberts
Oklahoma Department
of Commerce
800-879-6552
martin_roberts@ OKcommerce.gov
Oklahoma Indian Land Tax Credit Map
American Indian
Land Tax Credits
Two-thirds of Oklahoma, because of its unique Native
American heritage, qualifies for special federal tax treat-ment.
Businesses locating or expanding in these areas
benefit by accelerated depreciation of investment and by
employment tax credits when employing tribal members
or their spouses.
Disclaimer:
This incentive is approved annually by the U.S. Congress. Please check OKcommerce.gov/incentives for availability.
25
www.OKcommerce.gov/rural
Rural Economic Development
Rural
Economic
Development
Overview
Developing the economies of our rural communities
represents a crucial part of raising the overall standard of
living and economic viability of our state. The Oklahoma
Department of Commerce offers a wide range of programs,
services, and resources for our rural businesses and
communities. Through the Rural Action Partnership
Program, the Commerce Rural Development Team can help
communities recruit, retain, and expand businesses; help
entrepreneurs and innovators turn ideas into marketable
products and services; secure funds for community
development projects such as a new senior center or water
treatment plant, and much more.
26
www.OKcommerce.gov/rural
Rural Economic Development
Rural Action
Partnership
Program
The Rural Action Partnership Program (RAPP) fosters
healthy and sustainable rural communities through
small business retention and expansion, business
recruitment, entrepreneurial development, and the
development of regional economic development
partnerships.
As the facilitator of this effort, the Oklahoma
Department of Commerce is able to offer a wide
range of programs and services to help rural
communities grow:
• Business retention and expansion programs
• Entrepreneurial education
• Value-added production opportunities
• Strategic planning and community development
programs
• Site location and business recruitment analysis
• Workforce development programs
• Regional economic development partnerships
Rural Action Partnership Program Partners
• Governor’s Council for Workforce & Economic
Development
• Oklahoma Employment Security Commission
• Oklahoma Tourism & Recreation Department
• Oklahoma Department of Transportation
• Oklahoma Department of Agriculture
• Oklahoma Department of Environmental Quality
• Oklahoma Resource Conservation and
Development
• Oklahoma Association of Regional Councils
• Oklahoma State University Extension
• USDA Rural Development
• Higher Education
• Oklahoma CareerTech
• Rural Enterprises of Oklahoma, Inc.
• U.S. Small Business Administration
• Oklahoma Small Business Development Centers
• State Chamber
• Oklahoma Business Roundtable
• Oklahoma Rural Development Council
• Oklahoma Center for Science and Technology
• i2E
• Oklahoma Manufacturing Alliance
Rural Development Specialists
The Oklahoma Department of Commerce Rural
Development Specialists coordinate the various
programs and services that comprise the Rural Action
Partnership Program. The specialists are regionally
located across the state and work closely with our part-ners
to facilitate the formation of regional economic
development partnerships throughout the state.
Rural Development Specialists provide a wide vari-ety
of expertise and assistance to communities,
including:
• Business retention and expansion programs
• Entrepreneur development
• Asset and natural resource mapping
• Industry and workforce support
• Industry targeting
• Help with business incentives
• Community and economic development
Contact the Rural Development Specialist in your
area today to learn how we can help.
www.OKcommerce.gov/rural
Contact:
Rob Gragg,
Oklahoma Department
of Commerce
800-879-6552
rob_gragg@OKcommerce.gov
27
www.OKcommerce.gov/rural
Rural Economic Development
Rural Development
Specialists
Lisa Clark
North East Region
918-323-1411
lisa_clark@OKcommerce.gov
Glenn Glass
South East Region
580-596-1640
glenn_glass@OKcommerce.gov
Michael Fry
Tulsa
918-594-8419
mike_fry@OKcommerce.gov
Rob Gragg
Oklahoma City Metro / Far NW
405-596-0314
rob_gragg@OKcommerce.gov
Barry Clark
North Central Region
405-640-9149
barry_clark@OKcommerce.gov
Corey Herndon
West Central Region
405-596-0663
corey_herndon@OKcommerce.gov
Christy Elkins
South West Region
405-596-0080
christy_elkins@OKcommerce.gov
28
www.OKcommerce.gov/rural
Rural Economic Development
Regional
Partnerships
When communities and/or counties come together
for a common economic development effort, all will
gain much more than if they went at it alone. Many
Oklahoma communities are starting to recognize the
value of regional partnerships.
Rural Development Specialists will help communities
that are not currently in a regional partnership identify
potential partners and facilitate the formation of those
alliances by leveraging existing resources and providing
incentives for regional economic development initiatives.
Advantages of Regional Partnerships
• More efficient use of pooled resources
• More effective marketing of larger workforce, site
locations, financial incentives, and capital formation
• Broader array of experience, contacts, skill sets to
draw upon
• Expanded tourism attractions to promote
For more information, go to
OKcommerce.gov/rural.
Executive Pulse Business
Intelligence/Retention System
This system facilitates the rention of existing
businesses and jobs by encouraging economic, com-munity
and workforce development organizations to
work together.
Service Provider Database
OKcommerce.gov/spd
This online database gives communities, individu-als,
and businesses the ability to search and find local
government and public sector service providers in the
areas of business financing; training and education;
general business services, start-up and entrepre-neur
assistance; government and licensing agencies;
community development resources; information
resources; economic development organizations;
and association and membership groups. Users can
search based on category, keyword, or geographical
service area.
Contact:
Rob Gragg,
Oklahoma Department
of Commerce
800-879-6552
rob_gragg@ OKcommerce.gov
29
www.OKcommerce.gov/train
Workforce
Business
Recruiting
The Oklahoma Department of Commerce promotes
businesses wanting to relocate or expand opera-tions.
Through the Fast Forward team, Commerce
helps coordinate with state and federal agencies
and local communities to reduce red tape and bring
site selection projects in on-time and within bud-get.
If your community needs assistance with business
recruiting, the Oklahoma Fast Forward economic
development team can help with the following:
• Recruitment and expansion assistance
• Connect with site consultants
• Site location and business recruitment analysis
Industry Targets
• Aerospace
• Energy
• Weather
• Biotechnology
• Logistics
• Manufacturing
• Business Services
• Value-Added Agriculture
Find It FAST!
Check out OKcommerce.gov to find the information you
need or call the Fast Forward Team at 800-879-6552 for
personal assistance.
• Incentives
• Buildings & Sites
• Demographic Data
• Workforce Data
• Target Industries
• Community Profiles
• Workforce Training
• Major Employers
• State Chambers and ED Organizations
• Recent News
• Sooner ED News
Contact:
Fast Forward Team
Oklahoma Department of Commerce
800-879-6552
OklahomaFastForward@OKcommerce.gov
www.OKcommerce.gov/fastforward
30
www.OKcommerce.gov/communities
Communities
Community
Resources
Overview
The Oklahoma Department of Commerce is responsible
for numerous programs that help communities raise the
per capita income and improve the quality of life for local
residents. Community Development Block Grants assist with
vital infrastructure issues. Funding for programs that improve
the lives of low-income residents is provided to Community
Action Agencies throughout the state. The State Energy Office
supports renewable energy and energy efficiency programs
across the state. Contact the Community Development division
today at 800-879-6552 or info@OKcommerce.gov to learn
how we can help your community.
31
www.OKcommerce.gov/communities
Communities
Oklahoma’s Site
Certification Program
The Oklahoma Department of Commerce, in partnership with
PSO and OG&E launched Site Ready, Oklahoma’s site certifi-cation
program for new investment and retention of expanding
industry in the State of Oklahoma.
As businesses attempt to minimize risk, locations with shovel-ready
sites emerge as the top choices. A statewide site
certification program that assures a quality site available in
minimal time not only provides site selectors with the informa-tion
they need to make appropriate decisions, it also places
Oklahoma in a position to maximize economic development
opportunities.
The purpose of Site Ready is to place Oklahoma in a position
to further capitalize on economic development opportuni-ties.
With an inventory of sites that are certified for immediate
investment and development, Oklahoma will proactively serve
the needs of businesses.
In addition, Site Ready helps prepare Oklahoma communities
to accommodate new business prospect inquiries. By going
through the application process, communities will have the
opportunity to learn what the relevant needs for various projects
are and how to strategically plan to address those needs.
Contact:
Jeremy Zeller
Oklahoma Department
of Commerce
800-879-6552
jeremy_zeller@ OKommerce.gov
32
www.OKcommerce.gov/communities
Communities
Energy-Related Funding
The Oklahoma State Energy Office receives con-gressionally
appropriated funding from the U.S.
Department of Energy (DOE) to operate the State
Energy Program (SEP).
Contact:
Carolyn Sullivan
Oklahoma Department
of Commerce
800-879-6552
carolyn_sullivan@
OKcommerce.gov
Human
Development Funding
Human Development programs are designed to assist
low-income individuals and families make healthy
transitions in their lives and consequently achieve
and sustain a better life. In total, more than $20 mil-lion
is appropriated to support programs that help
empower Oklahoma’s need-iest
families to overcome
hardship and move toward
self-sufficiency.
Contact:
Kathy McLaughlin
Oklahoma Department
of Commerce
800-879-6552
kathy_mclaughlin@
OKcommerce.gov
Grants & Funding
Through a variety of funding and technical assistance
programs, the Oklahoma Department of Commerce
is working to make an impact on Oklahoma’s future.
Federal and state funding programs administered
through Commerce provide $50 million annually to
address critical economic, infrastructure and human
development needs and help build and improve
Oklahoma communities.
Community Development Block Grants
The Community Development Block Grant (CDBG)
program enables rural Oklahoma communities to
finance a variety of public infrastructure and eco-nomic
improvements and helps promote job growth
as a result of these improvements. CDBG funds are
provided by the federal government and managed
by Oklahoma Commerce to help ensure Oklahoma’s
most critical needs are addressed.
Contact:
Scott Myers
Oklahoma Department
of Commerce
800-879-6552
scott_myers@
OKcommerce.gov
For a list of grant-related websites go
to www.OKcommerce.gov/funding
33
www.OKcommerce.gov/communities
Communities
Opportunities
• CDBG Competitive Planning Grants
• Conference Scholarships
• Leadership Class Assistance
• Support Workshops
• Award Recognition and Networking events
• OCC CDBG Project Funds
• CDBG Bonus Points
Community Development Resource Kit
For communities not eligible to participate in
Oklahoma Century Communities, the Community
Development Resource Kit is available.
The Resource Kit has been created to provide com-munities
with tools in which to conduct community
assessments and create a community strategic plan.
The tools help a community identify where they are
today and visualize where they want to be in the
future.
Contact:
Kathy Gain
Oklahoma Department
of Commerce
800-879-6552
kathy_gain@OKcommerce.gov
Oklahoma Century
Communities
Each participant community is served based on
their current level of economic preparedness. With
self assessment tools, level appropriate goals and
achievement based incentives, Oklahoma Century
Communities encourages locally driven, community
wide strategic planning and leadership development
in Oklahoma communities possessing the desire to
develop local capacity.
Participate At Your Community’s Level
Oklahoma Century Communities is designed to help
communities, whether they are just coming to realize
a need for change or they’ve been actively pursuing a
better future for some time.
Communities are invited to self-evaluate their level
from one of the following:
Designing Plans — A general interest in planning
and implementation has become apparent.
Laying Foundations — A strategic plan has been
created and now isthe time to turn dreams into
realities.
Under Construction — Things are happening, goals
are beingreached, ideas and plans are turning into
actions.
Grand Opening — The community is positioned to
help existing businesses expand and grow to attract
new businesses, to bolster the local economy and to
improve the overall quality of life.
Related Websites:
Oklahoma Community Institute
www.ocionline.org
Oklahoma Association of Regional Councils
www.oarcok.org
34
www.OKcommerce.gov/communities
Communities
mainstreet
Oklahoma Main
Street
For 24 years, Oklahoma’s Main Street program
has been pumping new life back into the heart of
communities across the state. Combining historic
preservation and downtown revitalization efforts with
powerful economic stimulation, Main Street restores
the core assets of our communities and enhances the
quality of life for our citizens.
What We Do
The Oklahoma Main Street Center provides training,
resources, and technical assistance for preservation-based
commercial district revitalization. Based on the
National Main Street Center’s guiding principles and
nationally recognized Four-Point Approach, the pro-gram
offers a practical strategy scaled for each local
community. Main Street promotes public and private
partnership and local leadership, commitment, and
synergy while delivering tangible and intangible bene-fits
to communities.
Results
Main Street Impact (since Inception)
Public/Private Reinvestment: $616,152,580
Building Rehabilitations: 3,250
Net Gain in New Business Expansions: 3,652
Net Gain in New Jobs: 11,422
Volunteers Hours: 583,798
To Apply
Prospective communities interested in participating
in the Main Street Program are required to send two
representatives to the annual Main Street Application
Workshop held every September.
Formal applications are accepted from workshop
attendees and are due in January for review and
selection by a panel of judges.
Contact:
Linda Barnett
Oklahoma Department of Commerce
800-879-6552
www.OKcommerce.gov/mainstreet
Restore
Restructure
Revitalize
Results
35
www.OKcommerce.gov/train
35 Workforce
www.OKcommerce.gov/train
Communities
Workforce
Overview
Having a well-trained, hard-working, professional and
diverse workforce is critical to Oklahoma’s economic
success. The Oklahoma Department of Commerce, in
conjunction with the Governor’s Council for Workforce
and Economic Development, helps coordinate workforce-related
services, strategy and referrals for businesses and
communities. We partner with education and businesses
to analyze workforce availability and needs in industry
clusters and connect employers, job seekers and workforce
professionals.
36
www.OKcommerce.gov/train
Workforce 36
www.OKcommerce.gov/train
Communities
Workforce Expansions
No matter the size of your business, finding and hir-ing
qualified employees represents one of the most
important parts of any long-term growth strategy.
When you hire people, you’re investing time, money,
training and trust. If done properly, business booms. If
done incorrectly, you lose your investment and poten-tially
much more. Workforce Services can assist you
with:
• Recruiting and hiring
• Finding qualified employees
• Business tools for recruiting and hiring
• Workers’ Compensation: Avoiding legal pitfalls
• Tax credits, incentives, and services
• Business tools for new hire tax reporting
• Hiring foreign workers
• Business tools for verifying employment eligibility
Contact:
Oklahoma Employment Securities Commission
888-980-work (9675)
OESC.state.ok.us
Workforce Reductions
Because layoffs are often part of weathering a lack-luster
economy and aren’t necessarily permanent,
employers who manage their workforce reductions
well can expect to improve their organization’s image,
productivity, profits, and staff morale. Workforce
services can help manage workforce reductions, reg-ulations
and tax issues
Contact:
Lynda Baird
Oklahoma Employment Securities Commission
888-980-work (9675)
lynda.baird@oesc.state.ok.us
Workforce for
Business
Oklahoma Career Readiness/WorkKeys
Designed by ACT, the company that developed the
ACT college entrance exam, CareerReady measures
communication, problem-solving, and interpersonal
skills valuable to any occupation — skilled or profes-sional
— and at any level of education.
When fully implemented, assessment sites will be
set up across the state on college campuses, One-
Stop sites, CareerTech centers, and other strategic
locations. Individuals’ assessments and scores
will be recorded and housed in a secure database.
Depending on their scores, potential or incumbent
employees will be awarded a gold, silver or bronze
Oklahoma Career Readiness Certificate.
These portable skills credentials, which are easily
and nationally recognized, can be used to facilitate
job placement, retention, and advancement.
Contact:
Susan Kuzmic
CareerTech
405-809-3582
susan_kuzmic@
okcareertech.org
37
www.OKcommerce.gov/train
Workforce
Industry Training
Oklahoma’s community colleges, universities, tech-nology
centers, apprenticeships, technical institutes,
nonprofits, businesses, and state agencies work
hand-in-hand to deliver companies 3 key benefits.
Save money: Save thousands of dollars in expenses
for job analysis, training assessment, consultation,
curriculum development, instructors, facilities, equip-ment,
materials, and day-to-day training program
administration.
Train anywhere: Your employees can receive start-up
training or skills upgrade onsite or take advantage
of universities, community colleges, and technology
centers in every part of the state.
Make one call: Tapping into this vast network of
workforce training and education options takes one
call — Oklahoma Commerce.
www.OKcommerce.gov/train
Contact
Scott Smith
CareerTech
800-879-6552
scott_smith@
OKcommerce.gov
Oklahoma’s system of 29 technology center
districts with 56 campuses provides a wide
variety of programs, services and resources
for businesses across the state.
www.OKcommerce.gov/incentives
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www.OKcommerce.gov/train
Workforce
www.OKcommerce.gov/council
Workforce
Investment Boards
Complying with the Workforce Investment Act,
Oklahoma created its system of Workforce
Investment Boards (WIB) in February 1999. The WIBs
advise the governor and are charged with identifying
Oklahoma’s current and future workforce develop-ment
needs; coordinating business, education, and
government efforts and resources; and implement-ing
programs and services designed to ensure that
Oklahoma’s employers and employees achieve their
full potential.
Workforce 38
Southeast
Southern
Eastern
Northeastern
East Central Tulsa
Cleveland County
Central
North Central
South Central
Southwest
Northwest
To Contact a WIB in your area, go to
OKcommerce.gov/workforce
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www.OKcommerce.gov/smallbiz
New and Small Business Support
Eastern
New and
Small Business
Support
Overview
The Oklahoma Department of Commerce makes it a priority
to provide you the information and connection to resources
you need to help new and small businesses in your area.
Please use the information and resources detailed in this
section to build and sustain businesses in your community.
And when you need personal, one-to-one assistance,
contact the Business Solutions Division at Commerce,
405-815-5143 or info@OKcommerce.gov.
40
www.OKcommerce.gov/smallbiz
New and Small Business Support
Entrepreneurs
The Oklahoma Department of Commerce created
OKstartup.com, and this virtual center provides a central
point of access for entrepreneurs to access resources
they need for new or expanding business.
Starting a Business?
• Get a Federal Employer Identification Number
• Register with state agencies
• Determine which state licenses and permits
are needed
• Look into Business incubators
Expanding a Business?
• Business financing
• Business incentives
• Export assistance
• Workforce assistance
• Small business health insurance
• Case studies
Contact:
Shelli Todd
Oklahoma Department
of Commerce
800-879-6552
shelli_todd@
OKcommerce.gov
Minority and
Women-Owned
Businesses
Oklahoma Minority Supplier
Development Council (OMSDC)
Provides a Minority Business Enterprise (MBE) certi-fication
for minority-owned business in Oklahoma. In
turn, it solicits major corporations and private entities
to increase their amount of purchasing and procure-ment
with its certified MBEs.
U.S. Small Business Administration (SBA)
The SBA provides certification to eligible small busi-ness
that want to do business with agencies of the
federal goverment.
Oklahoma Department of Transportation
Oklahoma Department of Transportation (ODOT) pro-vides
a “Disadvantaged Business Enterprise” (DBE)
certification for qualified minority and women-owned
businesses in Oklahoma. The qualify for DBE certifi-cation,
the minority or female owner:
• must have full operational control of the business
and 51percent or more of the ownership
• must provide a service, product or needed item that
is involved with transportation projects
Contact:
Ken Talley
Oklahoma Department
of Commerce
800-879-6552
ken_talley@
OKcommerce.gov
Women-Owned Business Certifications
Commerce provides a Women-Owned Business certi-fication.
When purchasing or procurement officials are
specifically seeking women-owned businesses, this
certification may be particularly beneficial to minority
female business owners.
To qualify for certification in general, the female appli-cant
must be in full operations control of the business
and have 51percent or more ownership.
Contact:
Rana Steeds
Oklahoma Department
of Commerce
800-879-6552
rana_steeds@
OKcommerce.gov
41
www.OKcommerce.gov/smallbiz
New and Small Business Support
Insure Oklahoma
To participate in the Insure Oklahoma program for
small employers, a business must meet the following
eligibility criteria:
• The buiness must be located within Oklahoma
• The business must have 99 or fewer full-time and
part-time employees
• The small employer must contribute at minimum 25
percent of eligible employees’ premium costs
• The employer must offer an Insure Oklahoma quali-fied
health plan
Insure Oklahoma Individual Plan
The Insure Oklahoma individual Plan is available to
Oklahomans not otherwise eligible to participate in
an Insure Oklahoma employer-sponsored Qualified
Health Plan. Eligibility details are available on the
Insure Oklahoma website.
The Insure Oklahoma website features eligibility
wizards to help you determine you or your company’s
eligibility. You’ll also find forms, health plan descrip-tions,
answers to frequently asked questions, and
more. And while you’re there, be sure to sign up for
the monthly Insure Oklahoma newsletter to stay on
top of enhancements to the program.
Other Insurance Options Available
to Businesses and Individuals:
• Oklahoma Chamber Blue Small Business Health
Insurance Plan
• HumanaOne Individual Health Plan for Oklahoma
• Manufacturer’s Insurance Program
Contact:
Insure Oklahoma
888-365-3742
www.oepic.ok.gov
Small Business
Advocacy
If you are an Oklahoma small business owner and
you believe an existing or proposed state agency rule
will adversely affect your business, you now have the
means to make your concerns known.
The Small Business Advocacy Committee (SBAC)
includes 13 business owners and the chairs of
the Oklahoma House and Senate Small Business
Committees.
SBAC reviews new rules which may adversely impact
small businesses and suggests less restrictive alter-natives
and/or creative, flexible means for business
to comply to the agencies wherever possible. The
committee can also assist businesses with concerns
about existing rules.
If you’re facing a problem with a state agency rule,
please write explaining your difficulty with the rule
and suggestions you have to improve the situation.
Contact
Rana Steeds
Oklahoma Department
of Commerce
800-879-6552
rana_steeds@
OKcommerce.gov
Small Business
Health Insurance
Insure Oklahoma, fromerly known as the Oklahoma
Employer/Employee Partnership for Insurance
Coverage (O-EPIC), is the first program of its kind
in the nation to assist small business owners,
employees and their spouses with health insurance
premiums.
Insure Oklahoma will pay part of the health plan pre-miums
for eligible employees working for qualified
Oklahoma small businesses (with 99 or fewer employ-ees).
Participation in this program is voluntary.
42
www.OKcommerce.gov/smallbiz
New and Small Business Support
Export Assistance
In the age of globalization, exporting represents a cru-cial
component to the long-term economic health of
the United States and to Oklahoma. As the world gets
smaller, markets for products and services continue
to expand, representing a variety of opportunities for
Oklahoma businesses and communities to increase
profits, create jobs and raise employment levels, fund
sustainable economic development initiatives, and
attract foreign direct investment (FDI) dollars.
Designed to ensure that Oklahoma’s small- to
medium-sized businesses and large corporations can
access the resources and services they need to suc-ceed
in the international marketplace. Our export
assistance provides:
• Exporting basics
• Exporting FAQs
• Exporting step-by-step
• Workshops, seminars, & networking
• Financing
• Commerce export services
• Market research
Contact:
Dessie Apostolova
Oklahoma Commerce
800-879-6552
dessie_apostolova@
OKcommerce.gov
Business
Incubators
Incubators are an effective and popular technique to
help entrepreneurs and start-up business firms sur-vive
and prosper during their early years -- when they
are most vulnerable.
There are 49 business incubators now in Oklahoma.
According to the National Business Incubation
Association, the overall success rate for businesses
that begin in an incubator is 80 percent.
When it comes to the subject of business incubators,
we’re just getting warm. Business incubators also:
• Provide a physical location in which a new business
can commence, coupled with support services
such as shared facilities and business advice;
• Are designed to produce healthy firms that cre-ate
jobs and wealth, strengthen the economy,
commercialize new technologies and revitalize
communities;
• Are sponsored by local governments, economic
development agencies, universities, community col-leges
and vocational schools, private sector firms,
and combinations of these groups.
Oklahoma Certified Incubators
Sponsors of a certified incubator may be exempt
from Oklahoma income taxes on income derived from
services provided to the tenants, or for providing
funding for an incubator site. This exemption is for 10
years from the date of the tenant’s occupancy within
an incubator.
The tenant of a certified incubator is exempt from
state tax liability on income earned as a result of
activities conducted as an occupant in an incuba-tor
for up to 10 years from the occupancy date in
an incubator site in accordance with rules of the
Oklahoma Tax Commission. The exemption remains
in effect after the date the tenant is no longer an
occupant in an incubator, but not to exceed a total
of 10 years. In order to qualify for the income tax
exemption for the sixth through 10th year, the ten-ant
must make at least 75 percent of its gross sales
to buyers located outside the state or to the federal
government.
How To Apply for Certification
Certification of business incubators may be obtained
through Oklahom Commerce. Details regarding the
operation and range of services are required to be
presented in a business plan.
Contact:
Rana Steeds
Oklahoma Department
of Commerce
rana_steeds@
OKcommerce.gov
800-879-6552
43
www.OKcommerce.gov
Directory
OKcommerce.gov
Need to find something on the Commerce website in
a hurry? Need to tell someone outside of Commerce
how to get to a specific piece of content? There may
be a shorter version of the URL available to help you -
- we call them redirects.
The list below shows the redirects available on the
Commerce website. Use them yourself or tell others
about them. They’re a great convenience.
BidWatch Service
OKcommerce.gov/bidwatch
Biotech/Nanotech Industry
OKcommerce.gov/bio
Business Incentives and Tax Guide
OKcommerce.gov/incentives
Business Licensing Program
OKcommerce.gov/licensing
Business Retention and Expansion Strategies
OKcommerce.gov/bre
Business Start-Up Frequently Asked Questions
OKcommerce.gov/startup
CDBG Funding Guidelines and Applications
OKcommerce.gov/cdbg
Oklahoma’s Career Readiness Program
OKcommerce.gov/careerready
Oklahoma Century Communities
OKcommerce.gov/century
Commerce News and Publications
OKcommerce.gov/news
Commerce Staff Directory
OKcommerce.gov/contacts
Communities overview page
OKcommerce.gov/communities
Community Developer Newsletter
OKcommerce.gov/developer
Cost of Doing Business
okcommerce.gov/lowcost
Data and Research overview page
OKcommerce.gov/data
Email newsletter subscriptions page
OKcommerce.gov/subscribe
Events Calendar
OKcommerce.gov/events
Fast Forward Team
OKcommerce.gov/fastforward
Financial Resources for Businesses
OKcommerce.gov/bizfunds
GIS Mapping Program (includes Site Ready and
Buildings & Sites database)
OKcommerce.gov/locateok
Governor’s Council for Workforce and
Economic Development
OKcommerce.gov/council
Grants and Funding for Communities
OKcommerce.gov/funding
Hot Jobs for Job Seekers
OKcommerce.gov/jobs
International Trade Tools and Resources
OKcommerce.gov/trade
Multimedia Library
OKcommerce.gov/media
New and Existing Business overview page
OKcommerce.gov/business
New and Small Business Support
OKcommerce.gov/smallbiz
Oklahoma Main Street Program
OKcommerce.gov/mainstreet
Oklahoma’s Weather Industry
OKcommerce.gov/weather
Quality Jobs Program
OKcommerce.gov/qualityjobs
Quality of Life in Oklahoma
OKcommerce.gov/goodlife
Rural Economic Development
OKcommerce.gov/rural
Service Provider Database
OKcommerce.gov/spd
44
www.OKcommerce.gov
Directory
Oklahoma’s Site Certification Program
OKcommerce.gov/sites
Site Ready Properties
okcommerce.gov/siteready
Site Selection overview page
OKcommerce.gov/chooseok
Sooner Economic Development News
OKcommerce.gov/soonernews
State Energy Office
OKcommerce.gov/energy
Workforce overview page
OKcommerce.gov/workforce
Workforce Training
OKcommerce.gov/train
Disclaimer
The materials contained in this publication have been
prepared by the Oklahoma Department of Commerce
for informational purposes only and do not consti-tute
legal or tax advice. This information is subject to
change based on judicial interpretation and legislative
action. The application of the information is subject to
your unique facts and circumstances. YOU SHOULD
NOT ACT UPON ANY INFORMATION CONTAINED IN
THESE MATERIALS WITHOUT SEEKING YOUR OWN
PROFESSIONAL LEGAL AND TAX ADVICE.
45
Notes