Oklahoma Local Development and Enterprise Zone Incentive Leverage Act (Oklahoma)

From Open Energy Information

Last modified on February 12, 2015.

EZFeed Policy

Place Oklahoma

Applies to States or Provinces Oklahoma
Name Oklahoma Local Development and Enterprise Zone Incentive Leverage Act (Oklahoma)
Policy Category Financial Incentive
Policy Type Enterprise Zone
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes
Implementing Sector State/Province

Primary Website http://okcommerce.gov/assets/files/incentives/Oklahoma_Business_Incentives_and_Tax_Guide.pdf

Last Review 2014-09-15

Information Source http://okcommerce.gov/assets/files/incentives/Enterprise_Zone_List.pdf


The Oklahoma Local Development and Enterprise Zone Incentive Leverage Act provides funding for local units of government to match local tax revenue dedicated to support a project located in an enterprise zone. No more than 10% of the net leasable space may be used for retail purposes and no state local government matching payment shall be made for project costs. Certification that all projects described within the related project plan will generate, in the aggregate, a minimum of either $1 million in payrolls, exclusive of payroll for construction, or $5 million in investment.

Enterprise Zones can be designated in disadvantaged counties, cities or portions of cities. The Oklahoma Department of Commerce designates enterprise zones and publishes lists of eligible counties, cities and census tracts. Businesses located in an Enterprise Zone are eligible to receive double the Investment/New Jobs Tax Credit. Additionally, companies obtaining ad valorem exemptions from local taxing entities could be exempted for up to six years, rather than five.

Policy Contact

Contact Name Lesli Walsh
Department Commerce
Address Oklahoma City Office
Address 2 900 N Stiles Ave.
Place Oklahoma City, Oklahoma
Zip/Postal Code 73104
Phone 405-815-5120
Fax 405-605-2850
Email lesli_walsh@okcommerce.gov
Website http://okcommerce.gov/about-okcommerce/staff-directory/#W

Authorities (Please contact the if there are any file problems.)

Authority 1: 62 O.S. § 840 et seq.
Date Effective 2011