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Incentives Key to Region's Success

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Incentives Key to Region's Success VOTE FOR MAYOR MARCH 4 MarchJune 2012 2014 www.okcchamber.com Incentives Key to Region’s Success Economic development and community development incentives are often the difference-maker when it comes to bringing new jobs to the region. The Chamber relies heavily on a number of the state’s incentive programs to recruit companies to Greater Oklahoma City, enhance opportunities for existing companies, and encourage development. “These programs have positioned our state to compete for capital investment and job creation,” said Roy H. Williams, Chamber president & CEO. “Whether it’s Judy Hatfield, Equity Commercial Realty, is utilizing historic building rehabilitation tax credits turn the former Carnegie an existing company looking to expand or a new firm Library into residential space downtown. bringing its operations to Oklahoma, the incentives we offer are often what sets us apart. Without them, we’d be action for their continuation. These incentives must at a severe disadvantage.” remain in place to protect Oklahoma’s competitive During the 2014 session, there are four critical economic position with surrounding states. economic development programs that require legislative Continued on page 5 Mayor: “We’ve Come a Long Way” to was the City and community’s efforts to strengthen neighborhoods and improve quality of life through quality of place. Accolades Continue to Roll In National media continue to recognize Oklahoma City in multiple categories. Some of the city’s latest accolades include new opportunity for citizens to succeed, among the fittest, brainiest, best places for seniors, best places for millenials, best-tasting tap water and many others. A Recently, Mayor Mick Cornett took the stage at the list of the accolades the mayor highlighted are on page 8. Greater Oklahoma City Chamber’s annual State of the “We’ve Come a Long Way” City luncheon to offer an update on Oklahoma City’s Mayor Cornett pointed out that approximately half of progress. A key focus Mayor Cornett drew attention the people living in Oklahoma City today missed the Continued on page 8 The Point! March 2014 Greater Oklahoma City Chamber 2 215 OK Chamber_PR.indd 1 7/24/09 3:09:53 PM 2014 OFFICERS PETE DELANEY OGE Energy Corp. Leadership Notes 2014 Chairman DAVID RAINBOLT Our City’s Future Depends on You. BancFirst Chair-Elect March 4, 2014 is an important day in deciding the Vice Chair, Government Relations future of our city. On that Tuesday, Oklahoma City CARL EDWARDS Price Edwards & Company citizens will go to the polls and elect the mayor who will Immediate Past Chairman set our course for the next four years. DAVID A. JACKSON JPMorganChase Bank, N.A. Exercising your right to vote is an essential part of Treasurer BRUCE LAWRENCE your role in our community. Do not let someone else INTEGRIS Health choose who leads our city. Go to the polls on Tuesday, Corporate Secretary CLAYTON I. BENNETT March 4, and cast your vote. Early voting is also Dorchester Capital available at the county election board on Thursday, Feb. Vice Chair, Strategic Planning Roy H. Williams, CCE 27, and Friday, Feb. 28. BRYAN GONTERMAN President & CEO AT&T Oklahoma Here are 4 reasons I urge you to cast your vote on Tuesday, March 4. Vice Chair, Membership RHONDA HOOPER 1. Oklahoma City has made incredible strides in the past 20 years. We cannot Jordan Advertising Vice Chair, Economic Development afford to slow down now. We need a mayor who will lead our city forward. PERCY KIRK Cox Communications Oklahoma 2. When things are going well (as they are here), voters often become apathetic. Vice Chair, Marketing & Communications None of us can assume that our neighbors, colleagues, friends or family will go BRADLEY W. KRIEGER Arvest Bank to the polls. We must not only encourage them to vote, but set the example by Vice Chair, Military/Aerospace voting ourselves. TOM J. MCDANIEL American Fidelity Foundation 3. The mayor sets the tone and direction for our city. If we want our city’s Vice Chair, MAPS Development momentum to continue, we must elect a mayor who will further that vision. J. LARRY NICHOLS Devon Energy Corporation Vice Chair, Strategic Planning 4. While our city has come a long ways since the economic turmoil of the ‘80s JOHN RICHELS and ‘90s, we’re not finished yet. The amount of opportunity in front of us is Devon Energy Corporation incredible. We need to elect a mayor who will help us seize those opportunities. Vice Chair, Forward Oklahoma City TERESA ROSE Chesapeake Energy Corporation I know we are all busy, but if we want to keep Oklahoma City on the right track, we Vice Chair, Education/Workforce must elect a mayor who will be a strong leader for our community. Development NATALIE SHIRLEY Vote on Tuesday, March 4. Oklahoma State University - Oklahoma City Vice Chair, Convention & Visitors Bureau ROY H. WILLIAMS, CCE Greater Oklahoma City Chamber President & CEO Sincerely, THE POINT! ISSUE #3469 - March 2014 Editorial staff Stefanie Appleton, Cynthia Reid, Jennifer Seaton Designer Kathryn Bolay-Staude Roy H. Williams, CCE 297-8900 [email protected] Chamber CEO & President The Point! www.okcchamber.com www.twitter.com/okcchamber www.facebook.com/okcchamber Upcoming Chamber Events OKC’s Visionary Mayors The Point (ISSN 1075-6264) is 6 10 published monthly by the Greater Oklahoma City Chamber, 123 Park Avenue, Oklahoma City, OK 73102. POSTMASTER: Interns Find Opportunity Biotech Booming in OKC Send address changes to The Point!, 13 15 Greater Oklahoma City Chamber or e-mail [email protected]. SUBSCRIPTIONS: $5 per year included in Chamber membership; nonmembers, March 2014 Greater Oklahoma City Chamber $25 per year within the U.S. Welcome New Members Economic Indicators Periodicals Postage paid at Oklahoma City. 16 19 Advertising rates upon request. 3 Publisher reserves the right to refuse any advertising. CONTENTS Mail Enhancement. Your businesses prescription to reach its customer. OMTECH SETS THE BAR IN DIRECT MAIL strategies for business. In fact many of our customers say we have greatly enhanced their reach and exposure with The Point! our direct mail solutions. But we don’t stop there. We also provide a range of design-layout and printing solutions to Direct success. help direct your success. Contact one of our representatives today and let us show you how we can enhance your exposure. 405.843.3185 | www.accesscomtech.com March 2014 Greater Oklahoma City Chamber 4 Incentives Key to Region’s Success (continued from page 1) They include: The Chamber believes these incentives could be • the Aerospace Industry Engineer Tax Credit Program, modified to help local, regional and state governments which offers Oklahoma aerospace companies tax recover from any costs, but they must stay in place. credits for hiring engineers or paying the tuition of • Five-year ad valorem tax abatement and sales tax new engineer graduates. It also provides a tax credit to exemptions on facilities, equipment, inputs and new engineers who stay in Oklahoma. energy used in manufacturing and warehouse and • the Oklahoma Film Enhancement Rebate Program, distribution operations which provides incentives and tax rebates to attract • Freeport (inventory) exemption film projects to Oklahoma; • Investment/New Jobs Income Tax Credit Program • the Small Employer Quality Jobs Incentive Act, which Industry-specific incentives offers a cash-back performance-based incentive for small businesses locating or expanding in Oklahoma; These incentives support the growth and development of industries important to Oklahoma’s economic future. • the Oklahoma Quality Events Incentive Act, which allows cities to use incremental state sales tax • Oklahoma Quality Events Incentive Act revenues generated by the event to assist in recruiting, • Oklahoma Film Enhancement Rebate Program promoting and retaining high economic impact events • Income Tax Credit for Qualified Rehabilitation (such as horse shows). Expenditures for Historic Buildings The Chamber has identified additional incentives as • Income Credit for Energy-Efficient Residential essential for positioning Oklahoma as a pro-business, Construction economic development state. The Chamber will work to protect these programs so that the incentives can continue • Sales Tax Exemption and Refund for Aircraft Repairs to be offered to companies looking to locate here: or Modifications Premier incentives • Sales Tax Exemption and Refund for Aircraft These differentiate Oklahoma from competing locations Maintenance or Manufacturing Facility and must not be eliminated or diminished. • Excise Tax Exemption on Aircraft Sales • Quality Jobs Act and the Small Employer Quality All of the state’s economic development incentive Jobs Incentive Act programs should be evaluated for effectiveness, and the Chamber supports creating a process to do so. However, • 21st Century Quality Jobs Act the aforementioned are critical for business development • Aerospace Industry Engineer Tax Credit Program in the state. The Point! • Prime Contractor Quality Jobs Act Stay up-to-date on the progress of legislation regarding Foundational incentives incentives and other issues by signing up to receive These are incentives that every other state and competing “The Business Advocate” newsletter at www.okcbusinessadvocate.com. location offer. Without them, Oklahoma would not be considered a viable location by most firms, particularly manufacturing and warehouse and distribution firms. March 2014 Greater Oklahoma City Chamber 5 UPCOMING EVENTS Discover the Benefits of Membership Rise & Shine: March 5 Member Orientation: March 11 Join other Chamber members and learn about the New to the Chamber? Want to learn how you can many ways to maximize your membership and get better maximize your membership? Monthly Member involved in the Chamber’s efforts to strengthen the Orientations are a great way to better understand the business community at the Rise & Shine breakfast, role the Chamber plays in the community and how Wednesday, March 5, at Crowne Plaza Oklahoma City, you can both benefit and get more involved. The 2945 NW Expressway.
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