While I can’t speak to Dan(9698)’s specific situation, I can tell you about some of the business incentives available in Oklahoma as I help businesses get qualified for some of the incentives offered. Most states have similar incentive programs to attract to new business as well as to help incumbent businesses to grow by hiring additional employees.
The primary “tax break” in OK is a percentage rebate (up to 5%) of new employee payroll for new/expanding businesses in certain categories (NAICS code specific) if they will add $2.5mil in new payroll within 12 quarters. Obviously, this is for large businesses (they can get rebates for 10 years as long as they continue to qualify) but small business also has a program (7 years) they can qualify for when hiring as few as 5-15 people, providing they qualify by location, wages paid, etc. Further details @ www.okcommerce.gov
Other possibilities that are explored include an Investment/New Jobs tax credit, possible property tax abatement, sales tax exemptions (primarily manufacturers), former Indian lands tax incentives (covers most of OK), etc.
While I agree that businesses of all sizes have a tough row to hoe in the current economic climate, various kinds of assistance and incentives have been available.
“Most states have similar incentive programs to attract to new business as well as to help incumbent businesses to grow by hiring additional employees.”
That’s well and good, but most of us small businesses are not large enough for any state to try to attract us. Most of us have maybe 3-8 employees, so there’s no incentive for a state to get us to move. Nor are we manufacturers. So the above incentives aren’t relevant to most of us. And the programs you cite later also have nothing to do with the typical small business. Add 2-5 million in payroll? You are kidding. Most small businesses would kill for that figure in total sales, much less payroll!
Walk down the street: the businesses on both sides are the typical “small” businesses that pay all the freight with no incentives or tax breaks involved.