Oklahoma Innovation Expansion Program

OKLAHOMA INNOVATION & EXPANION PROGRAM (OEIP)
 
Monthly Cash Payments to help Oklahoma companies:

• Lower the cost of a capital project
• Increase the size/capacity of a planned expansion
• Enhance the ability to finance a project
• Improve employee retention and recruitment
• Create new capabilities, revenues & new jobs

 
ELIGIBILITY

• Minimum $50,000 capital investment in facility located in Oklahoma
• Minimum payroll of at least $625,000 per year
• Must be a “for-profit” business entity (preference to Manufacturing and Industrial businesses)
• Projects must be innovative, shorten or strengthen the supply chain for the product being manufactured, or it must be a project designed to target new markets
• No double dipping in Oklahoma Quality Jobs Act Programs or Investment Tax Credits while in the program
• No funds spent toward the new project prior to receiving an award letter from the Oklahoma Department of Commerce
• Businesses selected for participation must spend at least 10% of the project budget by September 30th
• Only projects where the net benefit rate of the project is sufficient to sustain a $25,000 award or greater can participate
• Business must meet all eligibility requirements and follow all program rules as set forth in the OIEP Rules www.okcommerce.gov/oiep

 
Online applications open March 31 – April 11 at https://www.okcommerce.gov/oiep/
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