Greater Oklahoma City is in the geographic center of North America equidistant from the east and west coasts and major trade partners of Canada and Mexico. The ten county region is at the crossroads of the U.S., sitting at the heart of three major national highways on the NAFTA corridor.
There's a reason Greater Oklahoma City is such a great place for business: Location. The ten county region is positioned within a day's drive of the rapidly-growing south-central region (OK, TX, AR, LA) projected to grow more than 44% during the next 25 years.
Explore the counties and cities of Greater Oklahoma City including major employers and higher education. The ten county region boasts an average commute time of 20 minutes and a skilled workforce over half a million strong.
"When I started my business 20 years ago, I always had the feeling that people were cheering for me to succeed. [We do] business in almost every state, but the people of Oklahoma are always the best to work with."
- David Box, Owner, Box Talent Agency
Environmental Cleanup Cost Deduction (Brownfields)
A business can deduct qualified cleanup costs for hazardous substances in the year the costs are incurred.
Federal Historic and State Historic Tax Credits
Federal Tax Law currently provides attractive incentives for the rehabilitation of historic and older buildings. These special benefits encourage revitalization of historic districts as well as individual buildings. To qualify for the tax incentives, requirements of both the Internal Revenue Service and the U.S. Department of the Interior must be met. Contact: State Historic Preservation Office, Oklahoma Historical Society, 2704 Villa Prom, Shepherd Mall, Oklahoma City, OK 73107, (405) 521-6249.
Investment Tax Credits for Rehabilitation
Federal Tax Law currently provides attractive incentives for the rehabilitation of historic and older buildings. These special benefits encourage revitalization of historic districts as well as individual buildings. To qualify for the tax incentives, requirements of both the Internal Revenue Service and the U.S. Department of the Interior must be met. The State Historic Presevation Office (SHPO) participates in the review of proposed rehabilitation projects and is the initial contact for applicants. The U.S. Department of the Interior, National Park Service, is the agency responsible for certifying historic structures and rehabilitation work. For detailed information, contact Catherine Montgomery, AIA at 405/522-4479.
New Markets Tax Credits
Equity investors in Community Development Entities (CDEs) can receive tax credits of 5% to 6% per year for each year in the investment is held for up to seven (7) years following the initial investment. The CDE must in turn invest in projects in qualifying census tracts - 20% poverty rate or higher.
Site Certification Program
A statewide site certification program that assures a quality site available will be available in minimal time. Review the program details here.
Tax Increment Financing (TIF)
Tax increment financing is a way of capturing the added value of a real estate project and using these funds to help pay for the improvements that enable the project to come to fruition. Download a map of TIF Districts one and two here.