Oklahoma § 62-2103 - Grant eligibility criteria

§ 62-2103. Grant eligibility criteria

A. For the purpose of developing, constructing, or improving an

industrial facility, a community shall be eligible to apply for a

grant from the Industrial Facilities Development Fund through the

Oklahoma Department of Commerce.

B. In order to be eligible for a grant, the community must

establish to the Department that it:

1. Has previously demonstrated an ability to recruit new

manufacturing business activity. A community may satisfy this

requirement by proving that an establishment has located a

manufacturing activity within the community employing at least ten

persons not more than five (5) years prior to the date as of which

the community makes application for funding; or

2. Employs at least one person on a full-time basis or is

benefited by the efforts of at least one full-time employee of a

local chamber of commerce or similar organization whose principal

duty is the recruitment of new business activity to the community.

C. The community shall include in the application a statement

of the estimated total project cost for the industrial facility.

The community, or a combination of the community and the

Oklahoma Statutes - Title 62. Public Finance

establishment for whose benefit the industrial facility will be

constructed or improved, shall be required to provide matching funds

equal to at least twenty-five percent (25%) of the total cost of the

project in order to receive a grant from the Industrial Facilities

Development Fund.

Added by Laws 1998, c. 252, § 3, eff. Nov. 1, 1998.