TULSA, Okla. – The Tulsa Metro Chamber was thrilled to learn tonight of the passage of the Quality Events Act, a OneVoice top priority, which will be critical in helping the Tulsa Convention and Visitors Bureau continues its work in attracting and retaining national meetings, conventions and sporting events to the region. Through the incentives this bill creates, the Tulsa can make an even larger return on the minimal investment used to attract nationally prominent events whose byproduct of additional sales tax revenue can fund critical public programs and projects.
While this was a much celebrated success for the Tulsa Metro Chamber, the staff is still actively advocating for changes to Senate Bill 1267 that proposes a two-year moratorium on certain tax credits, several of which could be detrimental to the health of our business community and ultimately our regional economy especially: – Investment (New Jobs) tax credit – Historical Facility tax credit – Aerospace Workforce tax credits
These incentives have fostered new job creation that helped grow and diversify Oklahoma’s economy. Moreover, many companies have made investments that relied upon the existence of these credits.
Reduction or removal of these incentives will hinder job creation, decrease the competitiveness of Oklahoma for business and capital investment, and deter economic growth.