May 3, 2012
OKLAHOMA CITY — The Oklahoma Department of Commerce announced today that 50 new jobs will be created by capSpire, Inc., which was recently accepted into the Oklahoma Quality Jobs Program in April. The information below includes:
• The number of jobs the company projects it will add
• The net benefit rates
• The maximum amount of money the company can receive if it participates in the program for the full 10 years allowed
• A brief background on the 21st Century Quality Jobs Program
|Company Name||Town Location||Town Population||New Jobs||NAICS Code||Benefit Rate||New or Expanded||Maximum Benefits|
capSpire, Inc. is a global consulting and solutions company serving the commodity trade and risk management sector of the energy industry.
What is 21st Century Quality Jobs?
The 21st Century Quality Jobs Program was created in 2009 to attract growth industries and sectors to Oklahoma in the 21st Century through a policy of rewarding businesses with a highly skilled, knowledge-based workforce. The intended purpose of the 21st Century Oklahoma Quality Jobs Program is to promote indisputably impactful high wage jobs without competing with existing incentives. The framework of this program is based on the successful Quality Jobs Program developed in 1993.
The program works to rebate a portion of the newly created Oklahoma payroll to the participant. Qualifying companies in this program that create at least 10 new jobs, which are paid at the rate of 300% of the average county wage where the project is located (or 300% of the average of all Oklahoma county wages, which currently equals $93,601) whichever is lower may qualify for up to 10% of the wages of these new jobs rebated in cash on a quarterly basis. The company has 3 years to create the required 10 new jobs.
During this time, the company may qualify for payments even if it is below the required 10 new jobs, but the net benefit rate may only be up to 7% during that time. The participating company must achieve the required average wage on a quarter-by-quarter basis for the jobs it has created to that point to receive a benefit payment.
More information on the program can be found on the Department of Commerce website at www.okcommerce.gov/Incentives.