Oklahoma’s economy has thrived in recent years, as more and more companies are moving to the state and longtime Oklahoma-based small businesses are finding opportunities to expand. Pro-growth policies set in place by state leaders have contributed to Oklahoma’s low unemployment rate and rise in family incomes.
While the energy boom of the 20th century laid a foundation for Oklahoma’s present day economy, recent economic expansions in the metropolitan areas of the state have helped diversify our economy and put Oklahoma’s future on surer footing.
For example, initiatives like the aerospace engineering tax credit helps create high-paying, high-skilled jobs in the state, and our low cost of living helps attract some of the nation’s brightest rising stars in the technology fields. With an economic output of more than $12 billion, the aerospace industry is one of Oklahoma’s top 3 job creators.
But small businesses are just as vital to our state’s economy as big industries. That’s why Oklahoma developed the Small Employer Quality Jobs Program, which allows small businesses to receive a 5% cash-back incentive for up to seven years to locate or expand in Oklahoma.
OK United wants to make sure our economic environment will allow all businesses, large or small, to achieve the kind of success here in Oklahoma that so many already have found in the Sooner State.
Tax reform legislation currently being considered by Congress will have a positive impact on the Oklahoma economy. If
the current legislation is approved, OKLAHOMA can expect its economy to grow by 1.5% over the next 10 years. That’s
good news for Oklahoma businesses, workers and taxpayers.
While Oklahoma has come through the “Great Recession" stronger than ever, state leaders learned an important lesson about waste in state government during that period. Just like many families had to make sacrifices, all state agencies and departments can find ways to operate more efficiently without slashing services and benefits that the people of Oklahoma rely upon.
Instead of supporting higher taxes that will maintain a bloated government, OK United supports finding smart ways to limit the expansion of government so that Oklahomans can keep more of their hard-earned paychecks.
Recently, state leaders started discussing raising the Gross Production Tax on oil and gas produced in Oklahoma. We are asking Oklahomans to stand up for Oklahoma industry and businesses and tell your legislator to oppose any new taxes on gross production.