Business Incentives
Programs and incentives designed to help your business grow and thrive
The BAEDC will help your business identify the incentives that will best suit your business goals. There are many available, depending on the type of business, the type and number of jobs created and retained, the wages paid, and the overall community impact. Contact us to see how your business may leverage all Broken Arrow and Oklahoma has to offer.
State Business Expansion Incentive Program (BEIP)
The Business Expansion Incentive Program (BEIP) assists Oklahoma companies making major capital investments in depreciable items like machinery, equipment and buildings. This incentive makes quarterly cash payment awards to help companies grow and boost business expansion investments in Oklahoma.
State Customized Employee Training
Whether you’re a new or expanding company, Oklahoma’s nationally acclaimed Training for Industry Program (TIP) can help you create the quality workforce you need to be successful, all at little or no cost to you. Services include job analysis, training needs assessment, pre-employment training, pre- and post-production training, instructional materials and more.
State Oklahoma Quality Jobs Program
Oklahoma’s Quality Jobs incentive program is a 10-year cash rebate that promotes job growth and helps improve your company’s bottom line by injecting cash back into your business as you expand and create new jobs in Oklahoma. The program provides a cash rebate to companies that create well-paying jobs and promote economic development.
Federal New Market Tax Credits
To spur private investment in low-income urban and rural communities, investors receive a 39 percent federal tax credit.
Federal Foreign Trade Zones
The benefits of operating within a designated site licensed by the Foreign Trade Zones Board are many. At the very least, an FTZ can help you defer paying duties. More often, the company pays lower costs, not only to U.S. Customs, but to its bank, insurance company and other vendors.
State Industrial Access Road Assistance
Designed to aid local industrial development efforts by funding, within practical limitations, access facilities connecting a specific industry or industrial area directly to the state or local road system.
State Freeport Inventory Benefits
Exempts from taxation goods, wares and merchandise that come from outside the state and leave the state within nine months if such goods, wares and merchandise are held for assembly, storage, manufacturing, processing or fabricating purposes within the state.
State Five-Year Ad Valorem Tax Exemption
A qualifying manufacturing company can abate ad valorem taxes upon new, expanded or acquired manufacturing facilities and equipment for a period of five years. This incentive is available for manufacturing, research and development, warehouse and distribution, certain computer/data processing services, refinery and aircraft repair.
State Investment / New Jobs Package
This package provides growing manufacturers a significant 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.
State Manufacturing Sales Tax Exemptions
Oklahoma has a comprehensive sales tax exemption for manufacturers who qualify for and obtain a Manufacturer’s Sales Tax Exemption Permit (MSEP). The exemptions cover purchases of machinery and equipment, energy and tangible personal property used in design, development and the manufacturing operation at the manufacturing site.
