What's New for Economic Development

For more information on Economic Development in Hugo: Contact: David Hinkle Phone# 580-317-7345 Email: dahinkle@msn.com

Hugo's Economic Development Committee
(Left to Right: David Hinkle, Mark Rogers, James Ray)

LOCATING YOUR BUSINESS IN CHOCTAW COUNTY

The County of Choctaw County working in conjunction with the Hugo Area Chamber of Commerce is eager to work with you to establish a new business, another location or even move your existing business to Choctaw County. Choctaw County is business friendly and features a central location to major market areas with available industrial, distribution and commercial sites. We believe you will discover Choctaw County is the right location for your business because we feature a lower cost of operation, abundant available skilled labor, good schools, helpful city and county governments, without the traffic congestion, crime and pollution of metropolitan centers.

We are very experienced in incentives and financing and look forward to working with your prospect to tailor the best fit of incentives and programs for your needs. Thank you for the opportunity to provide a brief overview of incentives and programs available in Choctaw County, Oklahoma.

The County working with its incorporated communities is prepared to assist your business in establishing its qualifications for:
• Financial assistance - to defer cost of relocation.
• Financing assistance - tax- exempt bonds, on and off-balance sheet leasing & more.
• Permitting assistance - local, state & federal as required.
• Grant assistance - EDA, USDA, CDBG.
• Land.
• Employee screening and training.
• And more………

The County of Choctaw County, Oklahoma features:
• 750 plus acres of prime industrial/commercial sites throughout the county.
• Choctaw County has an abundant supply of available water with over 27 million gallons per day available.
• Recent labor studies indicate over 1500 in the available labor pool.
• Our region has been the selected by companies such as Weyerhaeuser, Pan Pacific, Huber, Choctaw Manufacturing, Kimberly Clark, Martin Marietta, Campbell's Soup, Sara Lee, Tyson Foods and Potters Sausage as the preferred area to locate and grow.
• Newly renovated airport.
• Served by north-south-east-west rail.
• Excellent highway transportation - Indian Nations Turnpike - US HWY 271 - US HWY 70.
• Superior access to the Dallas and North Texas markets.
• And much more.

LOCATION INCENTIVES

The incentives listed below are for discussion purposes only, there are many ways to combine incentives that influence a company's specific situation and this should be carefully considered in light of your specific situation.

Local Incentives
Local Incentives from Choctaw County and its member communities that are applicable to your business will be subject to negotiations and individually tailored to your specific situation.

Grants:
The County will apply for the following grants on behalf of qualified businesses:

Community Development Block Grant $100,000 grant $400,000 0% 20 yr. loan
USDA - RBEGS Grant $500,000 grant
USDA - REDLG $200,000 grant
USDOC - EDA Grant $2,500,000 grant
(Qualifications for grants are subject to specific requirements and are subject to State and Federal guidelines.)

State Incentives
Quality Jobs Program - The State provides a quarterly cash payment of up to 5% of your payroll (in arrears), adding to your prospects bottom line. Among other state requirements are that wages and benefits average approximately $25,000 with an annual total payroll of at least $2.5 million.
Employee Training - The State can assist with training costs at up to 100%.
Manufacturer's 5-year property tax exemption.

Federal Incentives Available for Choctaw County
New Markets Tax Credit - 39% federal tax credit for qualified investments.
Accelerated Depreciation - depreciate your assets up to three times the normal speed, adding to your bottom line.
SBA HUB Zone - location in Choctaw County can provide a 10% bid preference for federal contracts.
Native American Tax Credit - receive approximately $3,000 tax credit annually for each Native or spouse hired.

We respectfully request that you consider a site visit to Choctaw County at your convenience to discuss the Choctaw County Solution.

Sincerely,

David A. Hinkle
Economic Development Director
Phone# 580-317-7345
Email: dahinkle@msn.com

Contact us for more info