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City of
Moore Economic Development Authority
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Economic
development efforts for the City of Moore
are conducted through the Moore Economic
Development Authority (MEDA). MEDA is a
department of the City of Moore. The
Authority undertakes the process to recruit
new business to the community, actively
assists with retention and expansion of
existing businesses, and also markets the
community in the area of job growth. |
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MEDA is governed by the Moore Economic
Development Authority Board, which consists
of seven members (the
Board members also serve as the Moore City
Council).
Business Training
The Moore-Norman Technology Center is one of
the finest career-tech centers in Oklahoma.
Serving Moore and surrounding communities
the MNTC has rigorous standards in the area
of curriculum, business and industry
services, student retention, and staff
involvement. Commitment, dedication, and the
pursuit of excellence are the best ways to
describe the faculty at Moore-Norman
Technology Center. MNTC offers full-time
career training, short-term classes,
software training, special interest,
healthcare, and specialty training in trades
and crafts. Additionally, the Business and
Industry Services division has the
flexibility to custom tailor training and
education to help a business maximize its
resources.
Oklahoma Department
of Commerce
Oklahoma knows that in business, the less it
costs, the more money you keep. Based upon a
combination of lower energy, tax and labor
rates, Financial World magazine has listed
Oklahoma as the second lowest cost-of-doing
business state.
Oklahoma and the City of Moore know that
your business is driven by profit and
bottom-line results. The incentives
available from the state of Oklahoma are
designed to help a business find the best
compatible solution in growing a company and
improving profit margins. The City of Moore
Economic Development Authority and the
Oklahoma Department of Commerce are ready to
assist at whatever level of confidentiality
desired.
We invite
you to contact us at:
City of Moore Economic Development Authority
301 North Broadway
Moore, Oklahoma 73160
Telephone: (405) 793-5224|
Fax: (405) 793-5107
You may also
contact the Oklahoma Department of Commerce
at (800) 588-5959 or (405) 815-5213. Visit
the Moore, Oklahoma page at
www.locateok.com
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Incentives and Location
Assistance |
The Moore
Economic Development Authority (MEDA) can
provide you with a host of services tailor
made to fit your specific needs. Listed
below is a broad representation of the
services available to you from the MEDA
staff.
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Site and
Building Information
MEDA maintains a varied inventory of
buildings and sites that are listed by real
estate brokers. The site information is
included in a Site Prospectus. You may also
access site and building information at
www.okcedis.com (type "MOORE" in
address field). Simply
tell us your needs and we will go to work
for you.
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Incentives
MEDA can assist and inform you regarding
appropriate incentives for your specific
needs. Whether you desire to expand or
relocate your business to Moore, we can
provide incentive assistance. See below for
more detailed information concerning
incentives.
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Community
Economic Profile
MEDA developed a 16-page Economic Profile
for Moore. The profile includes information
on demographics and population, labor force
and employment, quality of life, housing,
retail growth and development, business
resource and assistance guide, public school
information, and other education
opportunities.
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Oklahoma
Quality Jobs Program
The Quality Jobs Program pays quarterly cash
refunds of up to 5% of new taxable payroll
to qualifying companies for up to ten years.
The program has certain criteria based upon:
Large Business
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A minimum payroll of $2.5
million for most companies, less
for food processing and research
and development firms |
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A minimum of 80% employees
working more than 25 hours
weekly |
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A basic health insurance program
for employees |
Small Business
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Payroll must be
attributable to annual salaries
that are at least 110% to 125%
of the average wage of the
county in which the jobs are
located |
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Basic health
insurance must be offered to new
employees within 12 months and
at least 50% of the cost must be
paid by employer |
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Five to 15 new
employees must be added in the
first 12 months after
application approval |
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Small Employer
Quality Jobs Incentive Act
This program provides quarterly incentive
payments to qualifying companies. The
payments are a variable rate or net benefit
rate, and the participation period is seven
years in length. Companies may take up to 12
months before they offer basic health care
to the new jobs (required as a part of
program). Additional qualifications may
apply to prospective clients.
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Oklahoma
Training For Industry Program (TIP)
Oklahoma offers a customized training
program provided at no cost to qualifying
companies. This training, available at
Moore-Norman technology Center, will provide
for classroom space, instructional materials
and personnel for any critical subject
courses that a company requires at start-up.
Some nominal fees may apply.
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Tax
Exemptions/Tax Credits/Exclusions
A wide range of tax exemptions, credits or
exemptions are available to qualified
businesses that are expanding or relocating
in Moore. Space does not allow to list the
specifics of all of them. However, the Moore
Economic Development staff can and will
assist anyone in determining those which
best apply to your firm.
Ad-Valorem Tax
Exemption
A five-year ad-valorem tax exemption is
available for new, expanded or acquired
(unoccupied for one year period prior to
acquisition) manufacturing facilities,
research/ development, some computer
services, data processing services and some
distribution services. Real estate,
machinery and equipment used directly in the
manufacturing processes are also eligible.
The exemption requires a minimum capital
investment of $250,000 for all facilities
and a net increase of 15 or more employees.
Sales Tax
Refund
Oklahoma offers a sales tax refund on
computers, data processing equipment,
related peripherals, telecommunication
services or equipment. Qualifying companies
include:
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New and expanded aircraft
maintenance and manufacturing
facilities that create 250 or
more jobs, with construction
investment of $5 million and
purchases of at least $2 million
worth of computers and other
listed items. |
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Research and development or
computer services companies
when:
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At least 50% of the
annual gross revenue
of the business is
generated by sales
of product or
service to an
out-of-state buyer
or consumer
(includes the
federal government) |
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75% of annual gross
income results from
computer
services/data
processing or search
and development
activities |
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The business employs
at least 10 new
workers at an
average salary of
$35,000 for at least
three years |
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Sales Tax
Refunds/Construction Materials
Refund of sales taxes paid on construction
materials for new or expanding facilities,
including:
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Manufacturing
facilities with construction
costs exceeding $5 million that
create 100 new jobs maintained
for a minimum of 36 months |
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Facilities with
construction costs exceeding $10
million, and the combined total
of material, construction and
machinery exceeding $50 million,
that add 75 employees |
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Qualified new or
expanding aircraft maintenance
and manufacturing facilities
that create 250 or more jobs,
with an investment totaling at
least $50 million |
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Any structure or
land used for packing,
repacking, labeling or
assembling for distribution,
products that are at least 70%
made in Oklahoma, but at an
off-site, in-state manufacturing
facility or facilities |
Sales Tax Exemptions
Oklahoma has an innovative sales tax
exemption program, offering exemptions in
the following areas:
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Machinery and
equipment used directly in the
manufacturing process, including
replacement parts |
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Tangible personal
property which becomes part of
the finished product |
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1-800, WATTS, and
private line business
telecommunications systems |
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Containers which
are sold to persons regularly
engaged in reselling empty or
filled one-way containers, or
when the containers are
purchased to package raw
materials |
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Primary and
secondary packaging materials
used to pack, ship, or deliver
tangible personal property may
be purchased sales tax exempt by
a manufacturer or producer
(doesn’t apply to returnable
containers or reusable
packaging) |
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Machinery,
equipment, fuels and chemicals
used directly or in treating
controlled industrial waste
(approval is required by the
State Department of
Environmental Quality) |
Income Tax
Credits/Exclusions
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The
investment/new jobs income tax
credit |
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Technology
transfer income tax exemption |
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New products
development income tax exemption |
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Income tax credit
for computer/data
processing/research &
development jobs |
The Moore Economic Development staff looks
forward to assisting you in every way
possible. Please contact us if you have
questions or comments about relocating your
business in Moore. Thank you and Moore to
Enjoy. Eat-Shop-Work…Live!
City of Moore
Economic Development Authority
301 North Broadway
Moore, Oklahoma 73160
Telephone: (405) 793-5224 Fax:
(405) 793-5107
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