Norman’s Economic Plan: Giveaway for Businesses, or Step in the Right Direction?
The Norman City Council on Tuesday approved a new economic incentive plan meant to attract businesses and jobs in an 8-1 vote.
The Norman City Council on Tuesday approved a new economic incentive plan meant to attract businesses and jobs in an 8-1 vote.
Oklahoma spends at least $2.19 billion a year on economic incentive programs for private companies, according to a state-by-state analysis by the New York Times. That’s more than one-third of Oklahoma’s state budget or roughly $584 per Oklahoman each year. Nationwide, the Times found thousands of incentives worth more than $80 billion to private companies. The paper’s [...]
Oklahoma has an array of tools to encourage economic development and business growth, the sum of which are generally refereed to as tax “incentives” or “breaks.” As we’ve learned from the ongoing tax credit task force meetings, Oklahoma’s incentives vary wildly in their use, accounting and oversight. Oklahoma’s major economic incentives fall into four functional [...]
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