Taxes & Incentives

Many cities and states offer incentives as part of their recruitment efforts, but when it comes to Durant incentives, locating businesses are discovering two differences that really counts—a true customization that comes with care and attention to business needs and a can-do attitude in helping industry grow. With a well-stocked toolkit of local as well as federal and state benefits, Durant assembles a tailored incentives package that yields the greatest impact for the greatest length of time possible. Incentives are also available for expansions. Altogether, that means that the Durant difference in incentives is one that will nurture your operational growth and success well into the future.

For a quick overview of local taxes, download the Durant Tax Guide here.

Some of Durant’s available incentives include:

Federal Incentives

Opportunity Zones: Doing well by Doing Good.
The 2017 Tax Cuts and Jobs Act created a win-win for economic opportunity, benefiting both investors and American communities. By investing in qualified Opportunity Funds, which channel resources into designated Opportunity Zones, investors gain valuable short and long-term advantages, while communities recieve much needed development and revitalization.
For more information, click here.

New Markets Tax Credit: Equity Investments That Stretches Out Advantages.
Community Development Entities (CDEs) provide needed community loans and investments, while those making equity investment in CDEs receive a generous tax credit against federal income tax over a period of 7 years, up to 39% of the original investment amount.
For more information, click here.

American Indians Land Tax Credit: Native Investment with Higher Returns.
Employers enjoy a 20% non-refundable income tax credit for wages and health insurance premiums paid for each enrolled tribal member employee.
For more information, click here.

Foreign Trade Zone: Convenience, Increased Control and Lowered Costs.
Durant's Foreign Trade Zone #227 offers manufacturers enhanced control over costs, quality, and compliance, with improved inventory tracking, weekly entry savings, indefinite storage (thus avoiding quota restrictions), and with a range deferrals, waivers, and eliminations of duties and tariffs.
For more information, click here.

State Incentives

Quality Jobs Program: Cash Back for Job Creation
For qualified projects, Oklahoma's Quality Jobs Program provides a cash rebate of up to 5% of new taxable payroll for qualifying companies that create new, well-paying jobs. Incentie payments are made quarterly and can continue for up to 10 years.
For more information, click here.

Small Employer Quality Jobs Program: Convenient Quarterly Payments.
For qualified project, small employers (500 employees or fewer) receive quarterly incentive payments totalling as much as 5% of new taxable payroll costs for us to seven years.
For more information, click here.

Training for Industry Program (TIP): Low to No-Cost Customized Training for Industry.
Delivered through Kiamichi Technology Center, Oklahoma's customized workforce TIP provides a key competitive advantage in the comprehensive development services available.
For more information, click here.

Manufacturing Sales Tax Exemptions

For qualified projects, Oklahoma offers a comprehensive sales tax exemption for manufacturers, covering purchases of machinery and equipment, energy, and tangible personal property used in the design, development, and operation of manufacturing at the project site.
For more information, click here.

Ad Valorem Tax Exemption
A qualifying manufacturing company can abate ad valorem taxes upon new, expanded or acquired manufacturing failities and equipment for a period of five years. This incentive is available for manufacturing, research and development, warehouse and distribution, certain computer/data processing services, refinery and aircraft repair.
For more information, click here.

choctaw incentives

Choctaw Development Fund: Flexible funds that make a difference.
Created to address wide-ranging community needs, including economic development, these funds are applied judiciously to create maximum impact for locating industry.
For more information, click here.