Quality jobs report, 05/2012

              Companies Enrolled in Quality Jobs Program Announce Expansions - Oklahoma Department of Commerce
file:///Y|/...ies%20Enrolled%20in%20Quality%20Jobs%20Program%20Announce%20Expansions%20-%20Oklahoma%20Department%20of%20Commerce.htm[2/26/2013 12:01:35 PM]
About Commerce Companies Enrolled in Quality Jobs Program Announce Expansions
June 27, 2012
Companies Enrolled in Quality Jobs Program Announce Expansions
OKLAHOMA CITY — The Oklahoma Department of Commerce announced
that 408 new jobs will be created by three companies recently accepted into
the Quality Jobs Program (QJP) in May. The information below includes:
The number of jobs the companies project they will add
The net benefit rates
The maximum amount of money the companies can receive if they
participate in the program for the full 10 years allowed
A brief background on the Quality Jobs Program
Company
Name
Town
Town
Pop.
New
Jobs
NAICS
Code
Benefit
Rate
New or
Expanded
Max.
Benefits
D & L
Manufacturing,
Inc. dba D & L
Oil Tools, Inc.
Tulsa 391,906 100 333999 5.0% Expanded $2,396,591
Team Oil
Tools, LP
Tulsa 391,906 200 333132 5.0% Expanded $4,547,441
About the QJP enrollees:
D & L Manufacturing, Inc. dba D & L Oil Tools designs,
manufactures, and services a full spectrum of downhole injection oilfield
equipment for the oil and gas exploration and extraction industry.
Team Oil Tools, LP is a leading provider of completion products and
services to the international upstream oil and gas industry and provides
energy companies worldwide with customized and standard completion tools.
What is the Quality Jobs Program?
The Oklahoma Quality Jobs Program allows qualifying establishments creating
new quality jobs to receive an incentive to locate or expand in Oklahoma.
Administered by Oklahoma Department of Commerce, the program provides
quarterly cash payments of up to 5 percent of new taxable payroll directly to a
qualifying company for up to 10 years.
Since its inception in July 1993, the state has issued more than 650 contracts
to locating, expanding and start-up businesses. To date, more than $725
million in performance-based wage rebates has been paid because of the
Quality Jobs Program.
The state also benefits from new state personal income tax, sales and other
consumption tax receipts as well as multiplier benefits from the added
workers. Quality Jobs is a revenue neutral program and is risk-free to the
state because without new payroll, companies do not receive rebates.
To qualify, a company must be a central administrative office, manufacturer,
research and development, or a listed service company with 75 percent of
total sales to out-of-state customers. Most companies must achieve a $2.5
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