For Immediate Release:
March 3, 2004
Sen.
Jay Paul Gumm
Senate Approves Bill to Keep Jobs in Oklahoma
Senator Jay
Paul Gumm has won support for a measure aimed at keeping
jobs in Oklahoma. Senate Bill 1247 targets businesses that
accept state incentive dollars then leave within 7 to 10
years of accepting the money.
“Economic development experts across the country have
proclaimed Oklahoma’s business incentives to be among
the best in the nation. We’re saying if you are a
business that accepts those incentives and then decides
to leave our state in just a few years, you’re going
to have to pay back that money,” said Gumm, a Democrat
from Durant.
The version approved by the full Senate would require a
company relocating outside the state less than seven years
after receiving any incentive payment would have to pay
by 100 percent of that amount. Those relocating eight years
after receiving state payments will have to pay back 80
percent After 9 years they would be required to pay back
60 percent. Those moving outside the state but were here
longer than 10 years would not be required to repay any
incentives.
“Those incentives dollars are Oklahoma’s good
faith effort to bring jobs to our citizens. It comes out
of the pockets of hard-working men and women who believe
it is worth the investment. We need to make sure that the
companies taking that money live up to their end of the
bargain by keeping those jobs in Oklahoma,” said Gumm.
While Gumm said many companies who have accepted incentives
have remained in state and worked to add jobs, some have
taken the money only to announce they were leaving a few
years later. One example would be the Kwikset plant in Bristow.
“In fact, officials from the Oklahoma Tax Commission
told us when the bill was in committee that some companies
that moved out of Oklahoma received agreed-to job creation
incentives even after they left. It is bad public policy
to reward companies that take our incentives, stick that
money in their pockets and then move on,” said Gumm.
“This bill will help will protect Oklahomans from
companies like that.”
SB 1247 was approved 43 to 1. The measure now moves to the
House for further consideration.
For
more information contact:
Senate
Communications Division- (405) 521-5774
