The Enid Regional Development Alliance is offering one $5,000 competitive MicroEnterprise Grant. Grant funds are to be used for any necessary expense for the operation, management, formation, or expansions of the business, such as rent, payroll, inventory, software, marketing, equipment, renovations. Submit completed applications by 5pm on May 1, 2020 to firstname.lastname@example.org, or deliver to the ERDA office at 2020 Willow Run, Ste. 100. Click here for more information. Click here to download ERDA Loan Application.
Grow Enid Loan Fund
The Enid Regional Development Alliance has established a revolving loan fund for entrepreneurs and business expanding in the Enid area. This loan program can be used to finance any business expense and can be combined with commercial lending to complete your financing package. Click here to download ERDA Loan Application.
Start With Enid Program
The Start with Enid Program is a partnership between the Enid Regional Development Alliance, Autry Technology Center, Greater Enid Chamber of Commerce, Main Street Enid, and Enid Young Professionals. Each program sponsor offers a different benefit to help new and expanding businesses in Enid reduce start-up costs and get plugged into the community.
Tax Increment Financing (TIF)
A TIF captures the added value of a real estate project and uses these funds to help pay for the improvements of the new project. To qualify, there are performance guidelines that must be met for capital investment, new jobs, and new local payroll.
The City of Enid and the Garfield County Industrial Authority have provided discounted/donated land or buildings for numerous projects. To qualify, there are performance guidelines that must be met for capital investment, new jobs, and new annualized local payroll.
James W. Strate Center for Business Development
Eighty percent of new businesses that start in a business incubator become profitable ventures. Enid has one of the most professional and useful incubator facilities in the state. Tenants of the Center for Business Development are exempt from state tax liability on income earned as a result of business activities for up to 10 years. They also receive a reduction space rental while having access to the “back office” needs that are available at the Center. Business Incubator Brochure. Click here to visit their website.
Training for Industry Program
The Training for Industry Program helps new and expanding businesses create customized, productive workforce as needed. Through Autry Technology Center, the TIP provides the funds and services to bring curriculum, training materials, and instructors to companies who qualify. Click here to visit their website.
Enterprise Zones (EZ)
Enid’s two shovel-ready, certified industrial parks are in an Enterprise Zone. These Enterprise Zones provide extra incentives for business. Double the Oklahoma Investment/New jobs Tax Credit is allowed and low interest loans may be made available. The Oklahoma Department of Commerce designates enterprise zones and publishes lists of eligible counties, cities and census tracts. Click here to visit their website.
New Markets Tax Credits (NMTC)
Equity investors in Community Development Entities (CDEs) can receive tax credits of 5% to 6% per year for each year in the investment is held for up to seven (7) years following the initial investment. The CDE must in turn invest in projects in qualifying census tracts – 20% poverty rate or higher. Enid has one of Northwest Oklahoma’s few qualified census tracts that includes 100% of the downtown retail area. Click here to visit their website.
State of Oklahoma Programs
In addition to Enid’s local incentives, the State of Oklahoma has been recognized nationally for its outstanding business location and job growth incentives. For more information, download the ODOC Incentive and Tax Guide. Click here to visit their website.
Downtown Sprinkler Assistance Program
This program is designed to encourage the redevelopment of Enid’s historic downtown buildings for commercial use by offsetting a portion of the cost to install fire suppression sprinklers in the building. Applications for the grant must be turned in to the ERDA Board before installation. Click here for more information. Click here for the ERDA Loan Application