For qualifying companies, this program provides direct quarterly cash payments of up to 5% of new taxable payroll for up to 10 years.
View a complete list of qualifying sectors and company types here.
To qualify, a company must achieve a $2.5 million taxable annual payroll for new full-time employees for any four consecutive quarters during its first 12 quarters in the program. Once the threshold is achieved, a company must maintain the $2.5 million payroll for four consecutive calendar quarters. BUT, at MidAmerica the threshold is only $1.5 million.
Smaller companies may qualify for incentive payments, if the third-year payroll projections range between $1.5 million and $2.5 million.
A payroll threshold of $1.5 million is also available for companies in SIC Code 20 (Food & Kindred Products) and for Research and Development firms with 75% out-of-state sales or for purchasers who resell products for ultimate use or consumption out-of-state to the federal government.
All companies must offer basic health insurance coverage to all employees whose pay is included in the payroll figures for qualification within 180 days of employment. Eighty percent of the employees must also work at least 30 hours per week.
Small Employer Quality Jobs Program
Qualified small qualified employers (less than 90 employees at the time of application) may receive quarterly cash payments of up to 5% of new taxable payroll for seven years. Qualifying annual payroll must be attributed to annual salaries that are at least 110% to 125% of the average county wage in which the jobs are located.
Recently, three area leaders were recognized for their efforts and commitment to northeast Oklahoma through workforce development initiatives. Barbara Hawkins of the Pryor Area Chamber of Commerce, David…
MidAmerica Industrial Park provides a $1.4 billion economic impact annually according to a report compiled by the Tulsa Regional Chamber. Officials at MidAmerica recently completed the 2016 impact study…