PRYOR, Okla. — The Oklahoma House and Senate passed a rebate program bill expected to incentivize a Fortune 500 company to choose Oklahoma for a new factory.
Governor Stitt signed House Bill 4455 Monday morning and Mayes County Commissioners voted to approve a TIF district as another incentive for this unnamed company.
The district will allow the unnamed company to get some money back on their ad valorem tax. It will only apply to the land the company is looking to purchase, which is in the MidAmerica Industrial Park in Pryor.
The MidAmerica Industrial Park Chief Administrative Officer, David Stewart, explained this TIF district adds tax revenue which would benefit both the county and the school systems.
“The net benefit is huge to the school system and to the county and the jobs and all of that. So you're not paying the company to come, you're essentially giving them a rebate on what they pay," Stewart said.
However, County Commissioner Matt Swift doesn't feel it would benefit Mayes County. Swift feels it would be more of a burden.
“In order for the county to have a fighting chance we probably need all of the tax money so that we can keep up with the spike of the population. Without that, we don’t have the infrastructure to handle the increase of people," Swift said.
He believes the company will come to Pryor without the TIF district, but the MidAmerica Industrial Park says that's not the case.
“I just believe the burden could be tremendous and to give us a fighting chance I think that we will need 100% of the tax money to try to keep up with roads and water and sewer and electricity and everything", Swift said.
Swift added he felt if this company wants to build a great relationship with the county, they would come without it. The other two Mayes County Commissioners are in favor of having the TIF district, making Swift the only one against it.
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