This year, we focused on passing laws to help grow our economy, support our towns, and bring in new jobs.
With Senate Bill 1447, we set up the COMPETE Act, which creates two new teams within the Oklahoma Department of Commerce: the Division on Economic Development, Growth, and Expansion (EDGE) and the Division on Community Outreach and Revitalization Enterprise (CORE).
EDGE and CORE will work side by side to keep our economy steady, make Oklahoma more competitive, and put the department’s game plan into action. EDGE will take the lead on economic development for the state, while CORE will focus on increasing competitiveness and boosting economic opportunities at the local level.
It brings in the Oklahoma Workforce Commission to help with the state’s five-year plan for economic development, covering key industries, development sites, and workforce needs. Senate Bill 1447 will also create the eightmember LegislativeEvaluationand Development Committee to review financing for incentive packages over $20 million.
The other bill, House Bill 3959, changestheOklahomaQualityJobs Program, allowing pro sports teams from the NFL, NBA, NHL, MLB, or MLS to qualify for a rebate of up to five percent of their payroll if they bring their operations to Oklahoma. They have to meet a $10 million payroll minimum within a year, and the rebates will only stick if they stay for at least three years.
The Oklahoma Tax Commission isalso set to reserve income tax revenue for these rebates, placing it in the new Oklahoma Five Major Sports League Rebate Payment Fund.
We can begin filing bills on November 15, and I’ll keep you posted on updates.
I’m open to hearing from everyone – the more constituents involved, the better I can do my job for House District 49.
Again, thank you for electing me to serve House District 49. It is truly an honor and privilege to represent you at the State Capitol. Please do not hesitate to reach out to me with any concerns at 405-557-7383 or josh.cantrell@okhouse.gov.
Rep. Josh Cantrell, a Republican, serves District 49 Oklahoma House of Representatives, which covers Carter, Love and Marshall counties.