Oklahoma § 74-5003.10 - Oklahoma Department of Commerce - Powers and

§ 74-5003.10. Oklahoma Department of Commerce - Powers and

authority.

The Oklahoma Department of Commerce shall have the authority to:

1. Disseminate information concerning the industrial,

commercial, governmental, educational, cultural, agricultural,

business and other advantages and attractions of the state;

2. Assist public and private agencies in the preparation of

informational and publicity programs designed to attract or retain

business and industry for the state;

3. Obligate and expend funds for services performed by local

political subdivisions of the state, state agencies, including

universities and colleges within and without the state, and federal

agencies for research and training in conformity with the general

state laws governing such activity; and apply for, accept,

Oklahoma Statutes - Title 74. State Government

administer and expend grants from the federal government and any

other public or private sources for research and training purposes;

4. Conduct, publish and disseminate or encourage research

designed to further new and more extensive uses of the natural and

other resources of the state and designed to develop and

commercialize new products and commercial processes;

5. Study trends and developments in the industries of the state

and analyze the reasons underlying such trends; study costs within

the state; and make recommendations regarding circumstances

promoting or hampering business and industrial development;

6. Generally gather, compile and make available economic

analyses and statistical information relating to business, trade,

commerce, industry, transportation, communication, natural

resources, population and other like subjects in this state, with

authority to call upon other agencies, universities and colleges of

the state for statistical data and results obtained by them, and to

arrange and compile such economic analyses and statistical

information in such a manner as it deems advisable;

7. Study such other scientific, industrial, financial and

economic issues as, in the judgment of the Department, shall be

deemed of value to the people of the state;

8. Support and assist the efforts of state, regional and local

development organizations, industrial committees, chambers of

commerce, agricultural organizations, labor organizations and other

similar public and private agencies to obtain new and to foster

expansion of existing service, industrial and manufacturing

facilities, businesses and enterprises; and to foster community

improvements in leadership, expertise, human development,

infrastructure, public facilities and quality of life; and to expand

data availability and utilization opportunities;

9. Maintain a continuing evaluation of the sources available

for the financing of the development or expansion of industrial,

agricultural and commercial facilities in this state through both

public and private agencies;

10. Assist in obtaining financing for the development and

expansion of industrial, agricultural and commercial facilities in

the state;

11. Serve as the state’s official liaison agency between

persons interested in locating new economic enterprises in Oklahoma

and state and local groups seeking new enterprises. In this

respect, the Department shall aid communities in organizing for and

obtaining new businesses and expanding existing businesses and shall

process requests which reflect interest in locating economic

enterprises in the state;

12. Promote the sale and facilitate the marketing of Oklahoma

products including agricultural and value-added products in the

international market;

Oklahoma Statutes - Title 74. State Government

13. Encourage the location of foreign manufacturing plants and

other industries in Oklahoma;

14. Coordinate the international efforts of the various state

agencies without violating the individual authority given those

agencies by statute;

15. Coordinate and serve as liaison to the private sector as

needed;

16. Establish, subject to an annual appropriation or private

gifts, offices outside the state boundaries. The offices may be

operated by the state or may be operated pursuant to contract which

shall not be subject to the competitive bid laws of the State of

Oklahoma. The Department shall prepare an annual report concerning

the activities of the offices and submit it to the Governor and the

Legislature. The Chief Executive Officer of the Oklahoma Department

of Commerce shall notify in writing the Governor, the President Pro

Tempore of the Senate and the Speaker of the House of

Representatives that the Department intends to establish a new

office pursuant to this paragraph at least thirty (30) days prior to

the establishment of the new office or execution of a contract;

17. Establish a system of not less than six geographic regions

for promoting new or existing businesses, assisting in the expansion

of small and medium sized manufacturers through a modernization

program, creating new jobs, and assisting local businesses,

political subdivisions or other entities to better utilize the

services of the Department;

18. Solicit, accept and expend donations and contributions from

any source, whether public or private, in order to advertise,

promote or disseminate information which may assist in the

recruitment of companies, firms or jobs to Oklahoma, including but

not limited to the Oklahoma Quality Jobs Program Act, and any other

acts which the Department administers or which may assist the

Department in the performance of its mission. The Department shall

deposit any funds collected pursuant to this paragraph in the

“Oklahoma Department of Commerce Revolving Fund” created by Section

5012 of this title; and

19. Enter into contracts at fair market value for the rental of

office space in any facility under its control to entities engaged

in activities related to the export of goods produced in Oklahoma.

The Department shall deposit any funds collected pursuant to this

paragraph in the “Oklahoma Department of Commerce Revolving Fund”

created by Section 5012 of this title.

Added by Laws 1992, c. 259, § 1, emerg. eff. May 22, 1992. Amended

by Laws 1994, c. 322, § 27, emerg. eff. June 8, 1994; Laws 1999, c.

71, § 1, emerg. eff. April 7, 1999; Laws 2024, c. 377, § 6, emerg.

eff. June 5, 2024.

§74-5003.10a.

Termination of office outside state.

Oklahoma Statutes - Title 74. State Government

An office established by the Oklahoma Department of Commerce

outside the State of Oklahoma pursuant to paragraph 16 of Section

5003.10 of this title shall not be terminated until the Chief

Executive Officer of the Oklahoma Department of Commerce provides a

written report to the Governor, the Speaker of the House of

Representatives, and the President Pro Tempore of the Senate of the

intent of the Chief Executive Officer to terminate the office.

Termination of the office pursuant to this section shall not occur

earlier than sixty (60) days following the date the report is filed

as provided in this section. For purposes of this section,

“termination” means a reduction in funding for an office or a change

in representation.

Added by Laws 1998, c. 364, § 36, emerg. eff. June 8, 1998. Amended

by Laws 2001, c. 313, § 1, emerg. eff. June 1, 2001; Laws 2013, c.

227, § 37, eff. Nov. 1, 2013; Laws 2024, c. 377, § 7, emerg. eff.

June 5, 2024.

§74-5003.10b. Administration of federal funds to develop trade

center and industrial park.

A. 1. The Oklahoma Department of Commerce is hereby authorized

to administer any federal funds received by this state that are

allocated for the purposes of completion of traffic and feasibility

studies for, and the development of a trade center and industrial

park by, the Continental Gateway Authority, a public trust in

McClain County, Oklahoma.

2. For purposes of this section, “administer any federal funds”

means to provide oversight administration and includes, but is not

limited to, approval or rejection by the Department of expenditures

of the Authority and review by the Department of contracts proposed

by the Authority for noncompliance with federal and state law,

rules, regulations, and the provisions set forth herein, and the

rejection by the Department of such contracts prior to their

execution by the Authority if determined by the Department to be out

of compliance with law determined to be applicable by the

Department.

B. The Department of Transportation is hereby authorized and

directed to transfer to the Oklahoma Department of Commerce for use

by the Continental Gateway Authority any federal funds received and

allocated for the purposes set forth in subsection A of this

section.

C. The Oklahoma Department of Commerce shall utilize such funds

to contract with the Continental Gateway Authority for the provision

of the study authorized by federal appropriation and subsection A of

this section. Such contract shall be exempt from the competitive

bidding procedures set forth in Section 85.7 of Title 74 of the

Oklahoma Statutes and shall contain provisions as required by law.

Oklahoma Statutes - Title 74. State Government

D. The Continental Gateway Authority shall utilize the funds

for the studies set out in subsection A of this section and may

contract with a consultant for such studies. Such contract shall be

exempt from the competitive bidding procedures set forth in Section

85.7 of the Oklahoma Statutes but shall comply with the following

requirements:

1. The Continental Gateway Authority shall issue requests for

proposals to no less than three and no more than five consultants to

perform the studies. Detailed consideration, including interviews,

shall be given to those responding to the request for proposals.

The initial screening should consider the requirements of a

consultant interview evaluation sheet as well as the following

factors to be determined from Authority staff and replies to

inquiries to former clients:

a. specialized experience in the type of work

contemplated,

b. capacity of the consultant to perform the work in the

required time, and

c. past performance;

2. A full report of the evaluation procedures and

recommendations of the Authority shall be prepared by the Authority

and submitted to the Oklahoma Department of Commerce for an

independent review of the entire process; and

3. The Authority shall negotiate the contract with the selected

consultant, which contract shall include a fair and reasonable fee.

The negotiated scope and fee shall be reported to the Oklahoma

Department of Commerce for review of compliance with state and

federal laws, rules and regulations. If the Authority and the first

choice consultant cannot reach an agreement, their negotiations

shall be terminated and negotiations with the second-choice

consultant shall commence. If the Authority and the second-choice

consultant cannot reach an agreement, their negotiations shall be

terminated and negotiations with the third-choice consultant shall

commence. If the Authority and the third-choice consultant cannot

reach an agreement, then all negotiations shall be terminated.

Should the Authority be unable to negotiate a satisfactory contract

with any of the three selected consultants, the Authority shall

select additional consultants in order of their competence and

qualifications and shall continue negotiations in accordance with

the provisions of this subsection until an agreement is reached.

Added by Laws 1999, c. 388, § 1, emerg. eff. June 8, 1999.

§74-5003.10c.

2013.

Repealed by Laws 2013, c. 227, § 38, eff. Nov. 1,

Oklahoma Statutes - Title 74. State Government

§74-5003.10d. State's Workforce Investment Board, Recognition Purpose - Membership - Terms - Meetings - Duties and

Responsibilities - Funding.

A. The Governor's Council for Workforce and Economic

Development established under the authority of Executive Order 200527 is hereby recognized by the Legislature as the State's Workforce

Investment Board. The Council succeeded and was established in lieu

of the Oklahoma Workforce Investment Board. Appointed members of

the Council serving under the authority of Executive Order 2005-27

when this act becomes effective shall continue to serve until their

terms have expired and their successors have been duly appointed.

Pursuant to the federal Workforce Innovation and Opportunity Act,

the purpose of the Council shall be to:

1. Guide the development of a comprehensive and coordinated

workforce development system for the state and monitor its

operation; and

2. Review and make recommendations that will align the

workforce system, including education, with the economic development

goals of the state for the purpose of creating workforce and

economic development systems that are integrated and shall provide

Oklahoma a competitive advantage in a global economy.

B. Membership of the Council shall include representatives of

private employers who reflect Oklahoma's projected and desired

business and industry base and public officials from agencies which

provide programs and services related to workforce, education and

economic development. All Council members shall be in positions to

influence policy and hiring decisions within their organizations.

Initial appointments to the Council shall conform to the following

described schedule:

1. The membership of the Council shall comply with the federal

requirements of the state investment board;

2. A majority of the Council shall come from described private

sector employers, including owners of businesses, chief executives

or operating officers of businesses or other business executives or

employees with optimum policymaking or hiring authority, and who

represent businesses, including small businesses, that provide

employment opportunities that, at a minimum, include high-quality,

work-relevant training and development in in-demand industry sectors

or occupations in this state;

3. State officials shall include incumbents or designees of the

following named offices, or their successors in office or function:

a.

Governor,

b.

two members of the Oklahoma Senate, appointed by the

President Pro Tempore,

c.

two members of the Oklahoma House of Representatives,

appointed by the Speaker, and

Oklahoma Statutes - Title 74. State Government

d.

Executive Director of the Oklahoma Employment Security

Commission;

4. Additional members, at the discretion and pleasure of the

Governor, may be appointed representing the needs or interests of

the state economy or specific regional needs; and

5. Ex-officio members, at the discretion and pleasure of the

Governor, may be included to provide expertise and agency

information to the Council. These appointments may include, but not

be limited to:

a.

the Secretary of Education,

b.

the Secretary of Health and Human Services,

c.

the Secretary of Commerce,

d.

the Chancellor of the Oklahoma State Regents for

Higher Education,

e.

the Director of Career and Technology Education,

f.

the State Superintendent of Public Instruction,

g.

the Director of the State Department of Rehabilitation

Services,

h.

the Director of the Oklahoma Department of

Corrections,

i.

the Commissioner of the Oklahoma Department of Mental

Health and Substance Abuse Services,

j.

the Director of the Oklahoma Health Care Authority,

and

k.

the Native American Liaison.

C. Private sector members shall be appointed by and serve at

the pleasure of the Governor for a two-year term beginning October

1, 2005, and may be reappointed. However, of the initial private

sector members appointed, half shall be appointed for an initial

term of one (1) year beginning October 1, 2005. Private members may

be removed from office for failure to attend three consecutive

Council meetings. The chair of the Council shall be from the

private sector and shall be appointed by and serve at the pleasure

of the Governor.

D. The Council shall meet at such times and places as it deems

appropriate. Members shall serve without compensation. Council

members employed by a state agency shall be reimbursed travel

expenses related to their service on the Council as authorized by

state law by their respective state agency. Legislative members of

the Council shall be reimbursed by their respective houses for

necessary travel expenses incurred in the performance of their

duties as authorized by state law. Remaining Council members shall

also be reimbursed travel expenses related to their service on the

Council by the Oklahoma Employment Security Commission as authorized

by state law. No member of the Council shall profit, directly or

indirectly, from any transaction with the Council.

Oklahoma Statutes - Title 74. State Government

E. The duties and responsibilities of the Council in the

development, monitoring and aligning of the workforce system with

economic development shall include, but not be limited to:

1. Performing the duties required of the state governance board

by the federal Workforce Innovation and Opportunity Act;

2. Identifying the human resource investment needs of Oklahoma

business and industry, together with those of the citizens of the

state, so that each might respond to and meet the needs of the

others and thus together build a robust, diversified economy;

3. Reviewing and evaluating workforce development programs

within the state, formulate recommendations to increase their

efficiency and effectiveness, eliminate duplication, and align with

economic goals. Recommendations shall be communicated to the

Governor, Legislature, state and federal government agencies and

appropriate individuals and entities within the private sector;

4. Increasing academic capability and technical skills within

the state workforce and foster lifelong learning among Oklahoma's

citizens;

5. Strengthening collaboration among institutions which provide

education and training services, government agencies which

coordinate employment and other human resource investment

activities, and Oklahoma business and industry to create a seamless

system to nurture healthy economic development; and

6. Enhancing rural economic development capability and

capacity, giving particular attention to regional collaboration and

partnering.

F. Activities of the Council shall be coordinated by the

Secretary of Workforce Development.

G. The State Workforce Partners originally established under

the authority of Executive Order 2005-27 as the Workforce Solutions

Staff Team is hereby recognized by the Legislature. This

interagency team shall be comprised of executive level staff from

workforce, education and economic development agencies of the state

for the purpose of providing staff support to the Council and to

create efficiencies, eliminate duplication, and eliminate barriers

to jointly providing a service delivery system. Other members may

be included on this team as the Governor may deem necessary to

accomplish this goal.

H. The Council shall be supported by funds available to state

agencies pursuant to state and federal laws and regulations. Each

member of the Council whose agency qualifies pursuant to state and

federal law to receive and use such funds shall assist by providing

support and funding of the Council in carrying out the

responsibilities of the Council.

I. The Council shall form a subcommittee on health workforce

whose purpose shall be to inform, coordinate, and facilitate

statewide efforts to ensure that a well-trained, adequately

Oklahoma Statutes - Title 74. State Government

distributed, and flexible health workforce is available to meet the

needs of an efficient and effective health care system in Oklahoma.

Duties of the Health Workforce Subcommittee shall include, but not

be limited to, the following:

1. Conducting data analysis and preparing reports on health

workforce supply and demand;

2. Research and analysis of state health professional education

and training capacity;

3. Recommend recruitment and retention strategies for areas

determined by the Oklahoma Primary Care Office or the Oklahoma

Office of Rural Health to be areas of high need; and

4. Assessment of health workforce policy, evaluation of impact

on Oklahoma's health system and health outcomes, and developing

health workforce policy recommendations.

Added by Laws 2006, c. 236, § 1, emerg. eff. June 6, 2006. Amended

by Laws 2015, c. 188, § 1, eff. Nov. 1, 2015; Laws 2024, c. 100, §

1, emerg. eff. April 23, 2024.

§74-5003.10e. Work-based Learning Program.

A. There is hereby created the Work-based Learning Program.

The Governor's Council on Workforce and Economic Development shall

have authority over the program. The Governor's Council shall

coordinate the program by establishing partnerships with the State

Department of Education, the State Regents for Higher Education, the

State Department of Career and Technology Education, the Oklahoma

Board of Private Vocational Schools, the Secretary of State and

business entities throughout the state. The Oklahoma Employment

Security Commission, serving as the Workforce Innovation and

Opportunity Act designee as established by the Governor in Executive

Order 2023-21, shall have the official duty to develop and maintain

a Work-based Learning Program within its jurisdiction and will

collaborate, specifically related to registered apprenticeships,

with the Oklahoma Department of Career and Technology Education in

its focus on increasing the number of registered apprenticeships and

internship programs, defined as paid and unpaid work experience by

the United States Department of Labor as contained in 20 CFR

681.600, in this state to at least an aggregate of twenty thousand

positions by the end of the calendar year 2020. All partners

participating in the Work-based Learning Program shall be required

to provide their expertise, time and resources as deemed necessary

to advance and sustain the work-based learning goals of Oklahoma

Works to assist with publishing an annual progress report showing

each state agency's steps and accomplishments toward meeting

statewide workforce goals and to network and coordinate with other

public and private entities in an effort to align all state

agencies, boards and commissions and the private business sector in

meeting Oklahoma Works goals.

Oklahoma Statutes - Title 74. State Government

B. The Work-based Learning Program shall include the following

components:

1. Coordinate work-based learning opportunities through the

state's labor market and labor exchange systems to connect youth and

adults in public and private sectors;

2. Work toward increasing the number of youth and adults

participating successfully in public and private work-based learning

opportunities;

3. Set standards for equality and fair access to quality workbased learning experiences for all Oklahomans, including, but not

limited to, women, out-of-school youth, adults, African Americans,

Hispanics, Native Americans, veterans, individuals with disabilities

and other target populations identified in the federal Workforce

Innovation and Opportunity Act;

4. Promote quality work-based learning experiences which are

developmentally appropriate, including an orientation for all

parties, identify learning objectives for the term of the

experience, explore multiple aspects of an industry, develop

workplace skills and competencies, assess performance, provide

opportunities for work-based reflection, link appropriate next steps

and see that all aspects are documented and reported and comply with

state and federal labor laws;

5. Convene industry partners to develop industry-specific

standards for internships in order to aid employers with the

creation of rigorous internship programs; and

6. Prioritize paid work-based learning experiences to ensure

equity and access.

C. Each organization seeking to be a registered Work-based

Learning Program in Oklahoma shall either:

1. Be registered as a Work-based Learning Program, such as an

apprenticeship, with the United States Department of Labor; or

2. File a certificate each year in the Office of the Secretary

of State, which shall confirm such an organization is an active

participant in Oklahoma's registered Work-based Learning Program.

The certificate to be filed shall include:

a.

the name of the business, nonprofit organization or

government organization,

b.

the street address of the organization,

c.

the name of the primary contact for the organization,

d.

the electronic mail address for the primary contact of

the registered organization,

e.

the registered organization's North American Industry

Classification System code (NAICS), if applicable,

f.

the number and type of work-based learning

opportunities proposed for the year, the estimated

term of each opportunity, the proposed occupations,

Oklahoma Statutes - Title 74. State Government

and estimated number of hours per week of each

opportunity, if available,

g.

the number and type of work-based learning

opportunities proposed for the year, the estimated

term of each opportunity, the proposed occupations,

and the estimated number of hours per week of each

opportunity, if available,

h.

signed acknowledgement of the application by the

primary contact, and

i.

the annual renewal shall be due on the anniversary

date of filing the registration application.

The filing shall be made electronically via the Secretary of

State website.

D. The annual certificate of participation shall be due on the

anniversary date of original registration, as the case may be, until

cancellation of the work-based organization in the Work-based

Learning Program.

E. The Secretary of State shall, at least sixty (60) days

before the anniversary date each year of a participating

organization, cause a notice of renewal of the annual certificate to

be sent to such organization to its last known electronic mail

address of record filed with the Secretary of State. At the time of

renewal, the organization shall provide a Work-based Learning

Program annual summary, including for each position offered:

1. The number of opportunities posted;

2. The number of opportunities hired;

3. The type of work-based learning opportunities offered (e.g.,

internship, apprenticeship);

4. The Standard Occupational Classification (SOC) code;

5. The performance evaluation criteria utilized;

6. The term of the position;

7. The number of hours per week;

8. Paid or unpaid status;

9. Academic credit awarding institution, if applicable;

10. Academic hours awarded, if applicable; and

11. The gender, age and ethnicity of hires, if available.

F. A registered organization that fails to file the annual

renewal and pay the annual renewal fee by the anniversary date of

registration shall cease to be a registered organization with the

Governor's Council for Workforce and Economic Development.

G. The Secretary of State shall charge and collect the

following fees:

1. For filing the original application, a fee of Fifty Dollars

($50.00) submitted to the Secretary of State; and

2. For filing subsequent annual renewals, a fee of Twenty-five

Dollars ($25.00) submitted to the Secretary of State.

Oklahoma Statutes - Title 74. State Government

H. To coordinate with statewide career pathways efforts,

registered organizations under this program shall recruit

participants by posting job announcements on the state labor market

exchange system. Job announcements shall include the registered

organization number as assigned by the Secretary of State.

I. The Secretary of State shall transfer on July 1 of each

fiscal year an amount based on the Governor's Council for Workforce

Development annual budget not to exceed Eight Hundred Fifty Thousand

Dollars ($850,000.00) annually from the Secretary of State revolving

fund to support the administration of the program and business

registration to help enable the development of the state's talent

pipeline.

Added by Laws 2018, c. 138, § 1, eff. July 1, 2018. Amended by Laws

2024, c. 100, § 2, emerg. eff. April 23, 2024.

§74-5003.10f. Short title - Oklahoma Research and Development

Attraction Act.

This act shall be known and may be cited as the "Oklahoma

Research and Development Attraction Act".

Added by Laws 2022, c. 322, § 1, eff. Nov. 1, 2022.

§74-5003.10g. Research and Development Attraction Program.

A. The Oklahoma Center for the Advancement of Science and

Technology (OCAST) shall create a Research and Development

Attraction Program (Program), to be administered in accordance with

this section for the purpose of fostering research and development

in key industry clusters, leading to the creation of new products

and services that are brought to market by Oklahoma-based companies,

or brought to market by relocating companies financially sponsored

by an Oklahoma-based capital provider and which conduct a

substantial portion of total business activity in the State of

Oklahoma.

B. OCAST may award matching funds to eligible businesses to

offset a portion of expenses incurred through a collaborative

research and development project engagement with an Oklahoma

institution of higher education or nonprofit research institution.

C. OCAST may award matching funds up to fifty percent (50%) of

the cost of the project, not to exceed One Hundred Thousand Dollars

($100,000.00). A business may receive only one matching award under

this section per year.

D. In order to be eligible for matching funds under this

section, a business must satisfy all of the following conditions:

1. The business must be an Oklahoma-based small business. For

the purposes of this section, "Oklahoma-based" means a business that

has its principal place of business in this state or a business that

has, in the preceding twelve (12) months, raised an equity round not

less than Five Hundred Thousand Dollars ($500,000.00) with an

Oklahoma Statutes - Title 74. State Government

Oklahoma-based capital provider investing not less than ten percent

(10%) of such equity round, that commits to spend all eligible

Program funds in the State of Oklahoma, and that has filed a

certificate of qualification with the Oklahoma Secretary of State.

For the purposes of this section, "small business" means a business

entity that employs not more than one hundred (100) persons;

2. In accordance with the Oklahoma Office of Science and

Innovation's 2021-2026 strategic plan, the business must operate in

one of the state's three strategic industry clusters, including

aerospace and autonomous systems, life sciences, and energy

diversification;

3. The research and development service provider which partners

with the business must be an Oklahoma-based research entity. For

the purposes of this section, "Oklahoma-based research entity" means

an institution of higher education or another nonprofit organization

that primarily provides research services, and which has its main

physical campus in this state. For the purposes of this section,

"research services" means research and development, technology

exploration, technical development, product development, and

commercialization intended to foster innovation in eligible small

businesses;

4. The research and development project for which matching

funds are provided must be conducted physically within the State of

Oklahoma for the duration of the engagement with the Oklahoma-based

research entity; and

5. To be awarded matching funds under the Program, an Oklahomabased small business must file an application with OCAST attesting

to the total cost of the project and demonstrating available and

unrestricted private capital to meet at least fifty percent (50%) of

the total project cost. Matching funds may be used only to purchase

research services, as defined in this section, from an Oklahomabased research entity.

E. When administering the Program under this section, OCAST

shall select eligible projects to qualify for matching funds within

the Oklahoma Research and Development Attraction Act based on

factors including, but not limited to:

1. The amount of private capital the matching funds will induce

to be spent in Oklahoma;

2. The total market size of the Oklahoma-based small

businesses' product or service offering;

3. Third-party validation of the Oklahoma-based small

businesses' intellectual assets, including but not limited to equity

raised from venture capital or private equity firms, federal

commercialization grants through the Small Business Innovation

Research or Small Business Technology Transfer Programs, or

competitive federal research awards through National Institutes of

Oklahoma Statutes - Title 74. State Government

Health, National Science Foundation, Department of Defense,

Department of Energy, and others;

4. The projected future job creation impact of the Oklahomabased small business for the state;

5. Other economic benefits to the state, including through

increased state and local revenues and growth in private investment;

6. The need of the Oklahoma-based small business to acquire

specialized services and resources in Oklahoma;

7. The alignment of the project within Oklahoma's identified

cluster strategies; and

8. The impact on Oklahoma-based research entities, including

through increased revenue, exposure to new technologies, and

increased attraction opportunities for students, researchers, and

professional staff.

Added by Laws 2022, c. 322, § 2, eff. Nov. 1, 2022.

§74-5003.10h. Promulgation of rules.

OCAST shall promulgate rules to enforce the provisions of the

Research and Development Attraction Program, including the

following:

1. The application process for applying for matching funds;

2. The criteria to be used by OCAST to evaluate matching funds

applications from Oklahoma-based small businesses and to determine

the amount of the award;

3. OCAST shall include in its annual report the evaluation

metrics which will be gathered to report efficacy of this Program

back to the State of Oklahoma, which may include, but will not be

limited to, volume of applications, technological diversity of

companies taking up the Program, the success of Oklahoma-based small

businesses at raising follow-on capital rounds or advancing in

technological readiness level (TRL), and follow-on capital spent in

the state and at Oklahoma-based research entities; and

4. The agreements that Oklahoma-based small businesses must

enter into in regard to claiming matching funds and to ensure

compliance in spending of matching funds.

Added by Laws 2022, c. 322, § 3, eff. Nov. 1, 2022.