Oklahoma City, Oklahoma 73105
Release: May 25, 2005
Sen. Mike Mazzei
Major Job Growth Legislation Receives Final Approval From Legislature
A measure to make the Employer Quality Jobs Act more
sensitive to 21st century jobs, like the ones being created in the
biotech industry, has received unanimous approval from the Senate.
Principal author of Senate Bill 407, Sen. Mike
Mazzei said the measure will help draw new companies and businesses
with high paying jobs to Oklahoma by offering special incentives.
"This legislation is very important for companies," said
Mazzei, R-Tulsa. "It lets them know that Oklahoma is a hotbed
for research and new technology start-ups."
SB 407 helps companies in many ways. First, it provides more time,
specifically three years rather than the one year currently allowed,
for new technology companies to qualify for state rebate incentives.
Mazzei said this is important to allow for more incubation time
for technology, biotech, and new research and development companies
- companies for which it normally takes much more than one year
to finish experiments and testing before the manufacturing and distribution
The bill helps ensure that new job growth opportunities that sprout
up from the research occurring around Tulsa and Oklahoma City can
benefit from the Quality Jobs Program. It also increases net benefits
to reward existing companies for bringing managerial and professional
jobs to the state that pay above-average wages.
"This measure will not only help exciting new 21st century
businesses grow and develop in Oklahoma, but will also help get
the word out across the country that Oklahoma is the place to come
for knowledge economy companies," Mazzei concluded.
For more information contact:
Senator Mazzei's Office - (405) 521-5675