The community of Enid has a rich history of “partnering” with the private sector utilizing federal, state, and local resources to create unique opportunities for growth. Enid will consider partnering with any business, industrial or retail, in a way that will provide a quality return on investment.
The Enid Regional Development Alliance sponsors three main incentive programs, Grow Enid Loan Program, Start with Enid Program, and Downtown Grant Program, to learn more about each of these programs see the details below. To apply, download the application PDF and return it with the required documents to the ERDA office. Click here to download the application.
Grow Enid Loan Fund
The Enid Regional Development Alliance has established a revolving loan fund for entrepreneurs and business expanding in the Enid area. This loan program can be used to finance any business expense and can be combined with commercial lending to complete your financing package.
Start With Enid Program The Start with Enid Program is a partnership between the Enid Regional Development Alliance, Autry Technology Center, City of Enid, Greater Enid Chamber of Commerce, Main Street Enid, and Enid Young Progessionals. Each program sponsor offers a differenct incentive to help new and expanding business in Enid reduce start-up costs and get plugged into the community.
Downtown Grant Program Grants in the amount of $5,000 each are awarded annually on May 9th. Applications are due by April 5th and can be made by any business looking to locate or expand a business in downtown Enid. The downtown boundaries are, Elm to Garriott, and Adams to the railroad tracks east of 2nd Street.
Tax Increment Financing (TIF) captures the added value of a real estate project and uses these funds to help pay for the improvements of the new project. To qualify, there are performance guidelines that must be met for capital investment, new jobs, and new local payroll. Some recent examples are: Advance Food Company Expansion (Freezer Plant)- $8 million freezer facility, 700 new jobs; Roosevelt Park Apartments - $5 million affordable housing units.
The City of Enid and the Garfield County Industrial Authority have provided discounted/donated land or buildings for numerous projects. To qualify, there are performance guidelines that must be met for capital investment, new jobs, and new annualized local payroll. Some recent examples are: Advance Food Company (original plant, distribution center, and second manufacturing facility), Mid-Continent Packaging, and Pump Star.
Enid Build-to-Suit Program
For companies that need a new industrial or commercial building in Enid, we offer a business-friendly Build-to-Suit Program. With low construction costs and favorable tax treatment, our Build-to-Suit program is popular among new and expanding companies.
The typical Enid Build-to-Suit package has these features:
- Client selects construction type based on variables provided.
- Client retains the right to select architects and contractors.
- Client may supervise construction if desired.
- The facility can be sold, leased, or leased with an option to purchase.
James W. Strate Center for Business Development
Eighty percent of new businesses that start in a business incubator become profitable ventures. Enid has one of the most professional and useful incubator facilities in the state. Tenants of the Center for Business Development are exempt from state tax liability on income earned as a result of business activities for up to 10 years. They also receive a reduction space rental while having access to the “back office” needs that are available at the Center. Business Incubator Brochure
Training for Industry (TIP)
The Training for Industry Program helps new and expanding businesses create customized, productive workforce as needed. Through Autry Technology Center, the TIP provides the funds and services to bring curriculum, training materials, and instructors to companies who qualify.
Utility Assistance Program
The City of Enid offers a utility assistance program designed to help employers recruit workers. The program provides additional resources to help new employees with the cost of relocation. City of Enid will pay water, sewer, and trash utilities on behalf of the employee for the first three months of service. The City of Enid will also waive the utility activation fee.
Enterprise Zones (EZ)
Enid’s two shovel-ready, certified industrial parks are in an Enterprise Zone. These Enterprise Zones provide extra incentives for business. Double the Oklahoma Investment/New jobs Tax Credit is allowed and low interest loans may be made available. The Oklahoma Department of Commerce designates enterprise zones and publishes lists of eligible counties, cities and census tracts.
Local Quality Jobs Incentives
The City of Enid has provided Local Quality Jobs Incentives for projects that create new primary sector jobs. Cash incentives have been provided in the form of quarterly payments, annual payments, or forgivable loans. To qualify, there are performance guidelines that must be met for capital investment, new jobs, and new annualized local payroll. Some recent examples are: StarTek- $3 million capital investment, $8 million new annual local payroll, Atwoods (distribution center and corporate offices)- $3 million capital investment, $1 million in new annual local payroll.
New Markets Tax Credits (NMTC)
Equity investors in Community Development Entities (CDEs) can receive tax credits of 5% to 6% per year for each year in the investment is held for up to seven (7) years following the initial investment. The CDE must in turn invest in projects in qualifying census tracts - 20% poverty rate or higher. Enid has one of Northwest Oklahoma’s few qualified census tracts that includes 100% of the downtown retail area.
State of Oklahoma Programs
In addition to Enid’s local incentives, the State of Oklahoma has been recognized nationally for its outstanding business location and job growth incentives. For more information, download the ODOC Incentive and Tax Guide.