Quality jobs reports, 02/2013

              February 2013 Quality Jobs Report - Oklahoma Department of Commerce
file:///Y|/Newsletters/Quality%20Jobs%20Report/February%202013%20Quality%20Jobs%20Report.htm[4/1/2013 3:44:56 PM]
About Commerce February 2013 Quality Jobs Report
February 28, 2013
OKLAHOMA CITY - The Oklahoma Department of Commerce announced that
188 new jobs will be created by two (2) companies enrolled in the Quality
Jobs Program (QJP). The information below includes:
The number of jobs each company projects it will add
The net benefit rate
The maximum amount of money the company can receive if it participates
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
Cellu Tissue
Corporation-
Oklahoma City
Oklahoma
City
591,967 58 332291 5.0% Expansion $1,887,804
SWEP North
America, Inc.
Tulsa 396,466 130 332400 5.0% New $1,941,962
About the QJP enrollees:
Cellu Tissue Corporation manufactures tissue products in each major
category: bathroom tissue, paper towels, and napkins
SWEP North America, Inc. manufactures brazed plate heat exchangers,
used in a variety of industries.
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
million taxable payroll for any four consecutive quarters during the first 12
quarters in the program. Once the company achieves the threshold, it may
remain in the program for the rest of the 10-year period. However, once the
threshold is achieved, a company must maintain the $2.5 million payroll for
Performance Report 2012 About Commerce/ News & Media Releases/ February 2013 Quality Jobs Report
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