Legislation Restoring Aerospace Incentives Heads to Governor

• March 30, 2011
  
  

  Legislation Restoring Aerospace Incentives Heads to Governor

  Legislation that will help grow the aerospace industry in Oklahoma is one step away from becoming law. House Bill 1008, by Representative Skye McNiel and Senator Mike Mazzei, passed the Senate today by a vote of 41-6 and now goes to the governor for her expected signature into law.

  This legislation removes the Aerospace Engineer Workforce and Recruitment incentives from the list of credits on moratorium as of July 1 this year and will work to encourage growth within the Oklahoma aerospace sector, which is currently one of Oklahoma’s top three economic engines. The credits are proven job-creators, as they can only be claimed after companies have hired new aerospace engineers. The creation of new jobs is a requirement to claim the credit.

  “Quick passage of this bill shows that proven tax incentives with known job growth are good for our state’s economy,” said State Chamber President Fred Morgan. “Gov. Fallin and legislative leaders have said the focus this legislative session would be on jobs and growing our state. Getting this important bill to the governor’s desk just halfway through session proves they are serious about improving our state’s economic future.”

  Thank you for your commitment and support in making Oklahoma the state of choice for business by contacting your legislators and urging them to support pro-business legislation like HB 1008.

  For more information about The State Chamber and how you can get involved, click here. If you are a member and would like to be a part of The State Chamber’s Aerospace Committee, contact Lindsey Sparks.

  CHAD WARMINGTON
  Executive Vice President

  The State Chamber of Oklahoma
  330 NE 10^th Street | Oklahoma City, OK 73104
  Phone: (405) 235-3669 | Fax: (405) 235-3670
   

   

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