Oklahoma Senate panel OKs aerospace tax credits
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February 09, 2011
By Associated Press
OKLAHOMA CITY — A state Senate committee is sending to the full Senate a bill to restore a $3.5 million tax credit for companies that hire aerospace engineers.
The Senate Finance Committee voted 15-0 on Tuesday for the Aerospace Engineer Workforce and Recruitment incentives. Lawmakers working to balance the state budget last year placed a two-year moratorium on the aerospace and several other tax credits.
The State Chamber opposed the moratorium and said only companies that create new jobs are eligible for the credit. State Chamber President Fred Morgan said aerospace companies had hired 348 new engineers after the tax credits took effect in 2009.
A spokesman for The Boeing Company said the credits were a key reason the company decided last year to move 550 jobs from California to Oklahoma.
Read more from this Tulsa World article at http://www.tulsaworld.com/news/article.aspx?subjectid=12&articleid=20110208_12_0_OKLAHO764103&rss_lnk=1
