The Enid Regional Development Alliance is eager to work with existing and new companies to help provide financial assistance for their projects. Starting in the FY ’21 year, ERDA will offer new support programs for both industry and entrepreneurs. Incentives are awarded on a first come first serve basis until the annual budgeted amount is met each fiscal year. All applications are subject to review by the ERDA Project Committee and then recommended to the Board of Directors for final approval. A company is only eligible for one program per year. Anyone interested in learning more about these programs should contact Debbie Moore, Project Manager email@example.com 580.233.4232
Equipment Purchase – New Program
The Equipment Purchase program will help pay 50% (up to $20,000) for equipment that will help increase efficiency for the company by increasing sales with less expense – or add a new product line to the company.
Industry Certification Assistance – New Program
The Industry Certification Assistance will help with the costs for a new national/international industry certification (I.e., ISO9000, HAACP). Costs may include audit costs, travel and lodging expenses for auditors, or consultants, consultant fees, certification, and application fees.
Infrastructure Assistance – New Program
Businesses who require new, repaired, or improved, public infrastructure to serve their location (road, water, sewer, broadband) may qualify for assistance of 50% of the total cost up to a maximum of $25,000. Infrastructure must be for infill development only and may not extend the boundaries of existing City utilities.
Small Business Renovation – New Program
Renovation costs to owned or leased space: 50% up to $2,500. Funds will be provided as a reimbursement of expenses to renovate, expand, or redesign a commercial, retail, or industrial space.
Small Business Software – New Program
The Small Business Software program will assist with the purchase of software to run the business such as a POS system, inventory tracking, website development, or accounting software.
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.
APPLICATION PERIOD CLOSED: The Enid Regional Development Alliance is offering (two) $10,000 Micro Enterprise Grants. 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. Click here for more information.
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.
Tax Increment Financing District (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.
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.
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 Market 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.
STEP Grant Funds
Promoting your company at trade shows can be an effective way to gain recognition in your industry and to
enter into the global market or expand your international trade capabilities. But not every small business is in
the position to coordinate trade show logistics or design and operate their own trade booth. The Oklahoma
Department of Commerce makes it possible for Oklahoma companies to partner with the state at trade shows
across the globe. With the help of the Oklahoma STEP Fund, qualified companies can get reimbursed for 75% of
the participation cost. Click to learn more