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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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Object Description
| Okla State Agency |
Commerce, Oklahoma Department of |
| Okla Agency Code |
'160' |
| Title | Quality jobs report, 05/2012 |
| Alternative title | Companies enrolled in Quality Jobs Program announce expansions |
| Authors | Oklahoma. Department of Commerce. |
| Publication Date | 2012-06-27 |
| Publication type |
Newsletter |
| Purpose | 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. |
| For all issues click | C3950.6 Q1j |
| Digital Format | PDF, Adobe Reader required |
| ODL electronic copy | Downloaded from agency website: http://okcommerce.gov/about-okcommerce/news-and-media-releases/companies-enrolled-in-quality-jobs-program-announce-expansions/ |
| Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
| Language | English |
| Date created | 2013-02-26 |
| Date modified | 2013-02-26 |
Description
| Title | Companies Enrolled in Quality Jobs Program Announce Expansions - Oklahoma Department of Commerce 1 |
| Full text | 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 Staff Directory About Commerce / News & Media Releases / Companies Enrolled in Quality Jobs Program Announce Expansions Commerce Leadership Office Locations and Directions Our Building News & Media Releases ▼ Events Subscribe to Our Publications Bid Opportunities Employment Opportunities Frequently Asked Questions Art at Commerce Privacy Policy and Legal Notice Compliance Documents Contact Us Navigation |
| Date created | 2013-02-26 |
| Date modified | 2013-02-26 |
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