Our organization works closely with our local and state partners to provide incentives to help in your relocation or expansion project
The Blackwell Industrial Authority has the capacity to build a facility to the tenants' specifications resulting an long-term lease or potential sale of property.
2. New Market Tax Credits
The credits are five percent (5%) of investment for the first three years of credit and six percent (6%) for the last four years of credit, for a total of 39% of investment over the seven years of credit period. Blackwell has several locations in and around the industrial park that qualify. Blackwell has two sites eligible. See Map
3. Tax Increment Financing
Funding mechanism created by cities or counties used to redistribute proceeds from taxes towards infrastructure projects in economically distressed areas. Blackwell has two sites currently in a TIF District.
4. Federal Opportunity Zone
Opportunity Zones are economically distressed communities, defined by individual census tract, nominated by America’s governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. Blackwell has two sites that fall within this zone. See Map
5. Enterprise Zones
The Oklahoma Department of Commerce designates enterprise zones and publishes lists of eligible counties, cities, and census tracts.
The State of Oklahoma has some of the best incentives and lowest tax rates in the country. In addition to the local incentives offered by Blackwell, the Oklahoma Department of Commerce provides a comprehensive view of incentives that may be stacked with other incentives: Business Incentives | Oklahoma Department of Commerce (okcommerce.gov).