February 2013 Quality Jobs Report 1 |
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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 Staff Directory 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
Object Description
Okla State Agency |
Commerce, Oklahoma Department of |
Okla Agency Code |
'160' |
Title | Quality jobs reports, 02/2013 |
Authors |
Oklahoma. Department of Commerce. |
Publication Date | 2013-02-28 |
Publication type | Newsletter |
Purpose | The Oklahoma Department of Commerce announced that 188 new jobs will be created by two (2) companies enrolled in the Quality Jobs Program (QJP).; Celllu Tissue Corporation; SWEP North America, Inc. |
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/february-2013-quality-jobs-report/ |
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. |
Date created | 2013-04-09 |
Date modified | 2013-04-09 |
OCLC number | 890222802 |
Description
Title | February 2013 Quality Jobs Report 1 |
Full text | 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 Staff Directory 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 | 2013-04-09 |
Date modified | 2013-04-09 |