Poteau Industrial Authority Build-to-Suit and
Land for Jobs Program
Application download
Please click here to download the application in PDF format.
Program Overview:
This incentive gives companies wishing to locate in Poteau a option for obtaining the building they need to operate their business, with little or no up front cost. The Poteau Industrial Authority will build a building in the Poteau Industrial Park to suit the company’s needs and then execute a lease/purchase contract for three years, providing the jobs requirements are met.
A fully executed contract, with the Poteau Industrial Authority must be in place before any new jobs can be counted to fulfill jobs requirements of the contract.
Threshold Requirements:
The following requirement must be met before an application can be reviewed –
- Basic Industry – All applicants must be within a qualifying basic industry in order to participate in the Build-to-Suit Program (see attachment A). Regardless of a company’s overall North American Industry Classification System number (NAICS #), the activities and functions of the new direct jobs must be within a qualifying basic industry.
- Employment Threshold – To be eligible, a company may have no more than 50 employees at the time of application. The applicant company must create 20 new jobs, at a minimum to qualify. The activities and functions for which these jobs are created must not have existed during the previous 12 months in Poteau.
- Health Insurance Coverage – The Company must offer basic health insurance coverage to employees that are part of the job creation requirement, and pay at least 50% of the cost. All employees working 25 hours or more per week must be offered this insurance. The company has 12 months to institute a qualified basic health insurance coverage policy, and employees must be allowed access to coverage after 6 months of employment.
- Wage Requirements – The Company must pay (direct, taxable wages) to the employees included in the application an average of 200% of current Federal Minimum Wage. The company can include the cost of health benefits paid on behalf of the employee.
Application Requirements
Application – Applicants must provide a response to all application form questions and satisfy all documentation requirements. An original must be signed by a principal of the Company and submitted to the Poteau Industrial Development Authority prior to hiring any new employees whose payroll will be claimed to meet the job and payroll threshold.
OES-3 Reports – OES-3 reports are filed with the Oklahoma Employment Security Commission each quarter. A copy of the report should be filed with the Poteau Industrial Development Authority. If already in business in Oklahoma, a copy of the last four quarterly reports should be filed with Application.
New Hire Summary – Applications must include a breakdown of the proposed new hires by job title and wage. Only eligible new direct jobs and average taxable wages (including heath benefits) may be used in calculating the threshold requirements.
Major Medical Employee Health Plan – Along with the Application, a current copy of the company’s health benefits plan must be included.
Company Background – At a minimum, company background information must consist of product/service descriptions, a projected growth explanation, listing of other locations, a corporate family organizational chart, annual sales figures and investment projections (see Attachment C). A complete Financial Statement, including business and personal net worth, last two years tax returns and project cash flow is required. Signing of the application gives permission for a credit check to be conducted.
Building Requirements – A drawing of the required building shall be submitted with the application along with an estimated cost of construction.
Application and Approval Process
Applications are submitted to the Poteau Industrial Authority with all required documentation. Once the application is submitted, an internal committee will verify eligibility and make a recommendation for approval to the Poteau Industrial Authority. Approval or denial of the application is solely within the discretion of the Poteau Industrial Authority. After approval an agreement will be drawn for the lease/purchase agreement. At this point all agreements, job numbers become public information (this does not include confidential financial information).
All approved companies must be registered to do business in Oklahoma and in good standing with the Secretary of State’s Office, Oklahoma Tax Commission and Oklahoma Employment Security Commission.
At the time of submission a $250.00 one time origination fee shall be paid to the Poteau Industrial Development Authority.
Ongoing Assistance
Participants in the program are viewed as the Poteau Industrial Authority’s primary job growth opportunity. As such, the Poteau Development Authority will strive to ensure that companies understand all the potential incentives offered by the State of Oklahoma and other enties, and all business resources that might be available to them to help them succeed in Poteau and Oklahoma. Companies can expect to be contacted regularly regarding their status in the program and timely informational topics.
Attachment A: Qualifying Basic Industries
Manufacturing – Industries classified under NAICS Manual Nos. 31,32,33,5111 or 11331
Research and development and Testing Laboratories – See NAICS Manual Nos. 541710 and 541380
Central Administration Offices and Research and Development and Testing Divisions of other establishments or enterprises – See NAICS Manual Nos. 5611, 5612, 51821, 52232, 54191, and 524291.
Certain Warehouse/Distribution operations – Where 40% of inventory is shipped out of state.
Services – the program would also apply for certain service companies, if 75% of sales are out-of-state.
See program administrator for complete list.
