Business is Good in Oklahoma. Oklahoma’s favorable business climate is nationally recognized. The May 2003 issue of Forbes magazine named Tulsa number one as the city with the lowest cost of doing business among 150 metros across the nation. The April 2003 issue of Area Development Magazine listed Oklahoma as having one of the ten lowest overall tax burdens. What does that mean for your business? It means locating at the Tulsa Port of Catoosa puts you in an environment that encourages growth and opportunity!
Right-To-Work. In September 2001, Oklahoma became the nation's 22nd state to adopt Right-to-Work. A two-year study shows Oklahomans have been reaping the economic benefits of the new Right-to-Work law. Since taking effect:
- Oklahoma has led the nation in household income growth
- 94% more jobs have been created due to start-ups and expansions
- Average hourly wages for Oklahoma manufacturing workers grew
- Oklahoma has had a statistically significant rise in real household income
Tax incentives that attract business. Oklahoma is a business-friendly state, right down to its tax code. There are many advantages and incentives available to businesses of every size and industry.
The Oklahoma Tax and Incentives Guide, published by the Oklahoma Department of Commerce, is a comprehensive, intuitive source of information on Oklahoma’s overall tax structure and its award-winning incentive programs.
Get into the Zone. The State has designated Enterprise Zones in target areas of Oklahoma. The zones provide additional incentives for businesses to locate within them. The Port of Catoosa and Riverview Business Park are located in such an area and can offer the following incentives:
- Double the Investment / New Jobs Tax Credit
- Low-interest loans available through enterprise district loan funds
- Exemptions from local taxes for up to 6 years (instead of 5) for qualifying businesses
- Longer term Small Linked Deposit Loans
The Enterprise Zone program is one of many great Business and Tax Incentives offered through the Oklahoma Department of Commerce. For specific information on Oklahoma zones, contact the Oklahoma Department of Commerce.
