Taxes & Incentives

Incentives

Our economic development team can offer and negotiate incentive packages to individually meet unique business needs. Together, the Claremore Industrial and Economic Development Authority (CIEDA), the City of Claremore, and Rogers County partner to provide innovative incentives and financing options for industrial and manufacturing entities.

The collaborative approach for fostering business opportunities and strong regional industry support have resulted in several successful attraction and expansion projects in our community.

Examples include:

• In partnership with the City of Claremore, CIEDA commissioned the construction of a $3.4 million dedicated electrical substation for Baker Hughes, today powering its flagship research and development facility for its artificial lift product line.
• The $1.4 million purchase of and reduced-price sale of an existing facility for expansion of AXH Air Coolers. Learn more about how the incentive options provided to AXH have supported the company's rapid growth, tripling its size and opportunities.
• CIEDA established a $350,000 Development Assistance Finance Agreement for equipment at NXT Nano Fiber Technologies, providing the company with the support needed to launch its operations in the Claremore Industrial Park.
• CIEDA purchased a vacant building, providing a lease option for MST Manufacturing, which allowed for quick start-up and flexibility of capital. As a result, today, MST serves an impressive list of aerospace leaders such as Spirit AeroSystems, Boeing, Gulfstream, Lockheed Martin, Triumph Aerostructures, and many more. Read more here.

Additional incentive examples include, but are not limited to:

• Claremore Industrial Park Land Donation | Valued at $25,000 - $35,000 per acre
• Tax Increment Finance District
• Utility Connection Fee Assistance
• Permitting Credit and Fast Track Permitting Process
• Site Prep (Cleaning and Groundwork)
• Credit Toward Land Purchase for Each Quality Job

Customized Incentive Analysis

In addition to the local incentives listed above, CIEDA closely partners with the Oklahoma Department of Commerce to complete customized incentive analysis to ensure companies are provided with a robust incentive portfolio. These incentives are not limited to new or relocating companies. Oklahoma offers many state incentives aimed at aiding expanding businesses.

Review a detailed list of state incentives available to Oklahoma’s company.

Taxes

Oklahoma’s low tax rates and pro-business policies continue to land Oklahoma in the top rankings for business-friendly states. Oklahoma is ranked the fifth-lowest in the nation for unemployment taxes and maintains low personal income tax rates. In addition, Oklahoma corporations pay no capital gains on property, and businesses benefit from low state sales tax.

Tax Incentives

Companies located in Claremore are subject to:

• Ad Valorem Tax Exemptions
• Competitive Rates in Workers Compensation Insurance
• Low Corporate Taxes and Fees
• Low Personal Income Tax Rates
• Low Unemployment Taxes
• and Much More

A detailed summary of available tax incentives, as well as information about the state’s tax structure, can be viewed at Oklahoma Business Incentives & Tax Guide.

For additional questions regarding state, county or local tax information, please call 918-283-8240.