Rader Bill to Bolster State’s Economic Development Efforts Passes Senate

OKLAHOMA CITY – The Oklahoma Senate on Tuesday passed legislation from Sen. Dave Rader, R-Tulsa, that modifies an established tax incentive program that has been proven to attract key industries and businesses to the state.

Senate Bill 1403 modernizes the Oklahoma Quality Jobs Program based on recommendations from the state’s Incentive Evaluation Commission. The bill passed the Senate in a vote of 32 to 15.

Senator Rader said the Oklahoma Quality Jobs Program has helped numerous Oklahoma employers grow and create new jobs.

“I was surprised by the number of ‘nay’ votes, particularly because the bill significantly strengthens the incentive’s application in rural Oklahoma,” Rader said. “It also tightens the state’s eligibility requirements for possible recipients, which better protects the state’s investment.”

The bill shortens the time frame for employers to file a claim for payment, giving companies more budget certainty about the incentives for which they will qualify.

“Senate Bill 1403 updates an effective state program that has helped attract new employers to this state and support local businesses that are looking to grow,” Rader said. “This legislation is a win for Oklahoma and for the creation of new jobs at Oklahoma businesses. I very much appreciate the support from the majority of my colleagues who understand how successful this program has been and voted to make it even better. Oklahoma’s Quality Jobs incentives are one of the state’s most successful economic development tools, earning the state $2 for every $1 investment.”

Recognizing the vast disparities in average county wages from one county to the next, the bill also removes a minimum statewide wage threshold to be considered “qualifying wages” while still requiring the wages paid by qualifying companies to exceed the county wage threshold.

“The Quality Jobs Program isn’t a handout offered to any company that asks,” Rader said. “These incentives are reserved for companies that are investing in our state and offering relatively high-paying jobs that contribute to our economy. This program has been vital for Oklahoma’s economic growth.”

More information about Oklahoma’s Quality Jobs Program can be found here.

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For more information, contact Communications@oksenate.gov