Lawton Business Incentives

Businesses that locate in Lawton-Fort Sill enjoy financial support and assistance at both the state and local level to speed return on investment and nurture bottom-line growth.

Strategic local incentives in a favorable tax environment
Locally, Lawton’s favorable tax rates are combined with customized high-value incentives that may include land grants and job-forgivable loans based on capital investment, number of jobs created and average wage. And in a business-friendly community, our doors are always open to assist with any question or issue.

 

Example Incentive Package:
Land Grant (based on 200 acres at $30,000 per acre): $6,000,000.00
Forgivable Loan (based on 30 jobs); Cash to company: $120,000.00
Total Lawton Incentive: $6,120,000.00

 

Tax Rates:

  • Corporate income tax: 4%
  • Lawton sales tax: 9% (Comprised of Oklahoma Sales Tax 4.5%, County Sales Tax .375%, Lawton Sales Tax 4.125%)
  • Ad valorem tax (property taxes paid to Comanche County): An assessment rate of 11.25% and a millage rate of 101.39.
    • Ad valorem tax example:
      $200,000 value x 11.25% = 22,500
      22,500 x 101.39 = 2,281,275
      2,281,275 / 1000 = $2,281.28

 

Oklahoma incentives that reward job creation and investment

Lawton-Fort Sill Economic Development Corporation (LEDC) helps match new and existing businesses with lucrative State of Oklahoma incentives that include cash for job creation, employee training, tax credits, incubator resources, and more. Here are a few of Oklahoma’s many available incentive programs:

Oklahoma Quality Jobs Program - 10 Year Cash Incentive
Companies can receive cash payments for up to 10 years for creating high-paying jobs. Companies may qualify if they’re manufacturers, central administrative offices, research and development agencies (including wind power manufacturers), distribution centers (with 40% out-of-state shipping), and some service companies (where out-of-state sales exceed 75% of sales). Specific requirements apply.

Oklahoma Quality Jobs - Small Employer Program
Qualifying small businesses (with 500 employees or fewer) can receive up to 5% cash back for up to 7 years for expanding or getting established in the state. The program is for qualifying industries. Contact LEDC for additional requirements. 

21ST Century Quality Jobs Incentive Program - 10 Year Cash Incentive
This program incentivizes businesses in growth industries with a highly skilled workforce. It offers a cash incentive of up to 10% for new wages that match or exceed 300% of the average wage in the county. (The average wage requirement can’t be more than the state index wage.) This incentive rewards businesses in knowledge-based service industries—including professional, music, film, performing arts, specialty hospitals, and scientific and technical businesses with half their sales from out of state.

Investment/New Jobs Tax Credits
This incentive gives a tax credit to growing manufacturers. The credit is based on investment in depreciable property or on addition of full-time-equivalent employees working in processing, manufacturing, or aircraft maintenance.

Expansion and Relocation Financing
If you need business financing, there are numerous federal, state, and local tax credit and loan programs that could help.

 

Contact us for a customized incentive analysis and to explore more ways that we can help with your enterprise growth.

Businesses that locate in Lawton-Fort Sill enjoy financial support and assistance at both the state and local level to speed return on investment and nurture bottom-line growth.

Strategic local incentives in a favorable tax environment
Locally, Lawton’s favorable tax rates are combined with customized high-value incentives that may include land grants and job-forgivable loans based on capital investment, number of jobs created and average wage. And in a business-friendly community, our doors are always open to assist with any question or issue.

 

Example Incentive Package:
Land Grant (based on 200 acres at $30,000 per acre): $6,000,000.00
Forgivable Loan (based on 30 jobs); Cash to company: $120,000.00
Total Lawton Incentive: $6,120,000.00

 

Tax Rates:

  • Corporate income tax: 4%
  • Lawton sales tax: 9% (Comprised of Oklahoma Sales Tax 4.5%, County Sales Tax .375%, Lawton Sales Tax 4.125%)
  • Ad valorem tax (property taxes paid to Comanche County): An assessment rate of 11.25% and a millage rate of 101.39.
    • Ad valorem tax example:
      $200,000 value x 11.25% = 22,500
      22,500 x 101.39 = 2,281,275
      2,281,275 / 1000 = $2,281.28

 

Oklahoma incentives that reward job creation and investment

Lawton-Fort Sill Economic Development Corporation (LEDC) helps match new and existing businesses with lucrative State of Oklahoma incentives that include cash for job creation, employee training, tax credits, incubator resources, and more. Here are a few of Oklahoma’s many available incentive programs:

Oklahoma Quality Jobs Program - 10 Year Cash Incentive
Companies can receive cash payments for up to 10 years for creating high-paying jobs. Companies may qualify if they’re manufacturers, central administrative offices, research and development agencies (including wind power manufacturers), distribution centers (with 40% out-of-state shipping), and some service companies (where out-of-state sales exceed 75% of sales). Specific requirements apply.

Oklahoma Quality Jobs - Small Employer Program
Qualifying small businesses (with 500 employees or fewer) can receive up to 5% cash back for up to 7 years for expanding or getting established in the state. The program is for qualifying industries. Contact LEDC for additional requirements. 

21ST Century Quality Jobs Incentive Program - 10 Year Cash Incentive
This program incentivizes businesses in growth industries with a highly skilled workforce. It offers a cash incentive of up to 10% for new wages that match or exceed 300% of the average wage in the county. (The average wage requirement can’t be more than the state index wage.) This incentive rewards businesses in knowledge-based service industries—including professional, music, film, performing arts, specialty hospitals, and scientific and technical businesses with half their sales from out of state.

Investment/New Jobs Tax Credits
This incentive gives a tax credit to growing manufacturers. The credit is based on investment in depreciable property or on addition of full-time-equivalent employees working in processing, manufacturing, or aircraft maintenance.

Expansion and Relocation Financing
If you need business financing, there are numerous federal, state, and local tax credit and loan programs that could help.

 

Contact us for a customized incentive analysis and to explore more ways that we can help with your enterprise growth.


 ADD ITEM TO REPORT

You can print out this valuable information by creating a custom report. As you navigate our website, you can use the “Add Item to Report” button to add any page or property to a custom report that you can print out or save.