The Enid Regional Development Alliance is eager to work with existing and new companies to help provide financial assistance for their projects.
Companies are eligible for one program per year. These local incentives may not be layered with one another. These programs are intended to be layered with State and Federal programs. Multi-level marketing businesses are not eligible. ERDA’s Assistance Programs are reimbursable competitive grants. If funds are awarded, a check would be processed once ERDA receives paid receipts for the equipment and the equipment has been received by the company. Funds must be used within 6 months of the award date with a few exceptions (see grant descriptions below for additional details). An extension of this deadline may be requested but is not guaranteed.
To apply for assistance an application must be completed and requested documents delivered to ERDA by 4:30 pm on January 3, 2023. The MicroEnterprise Grant deadline is February 3, 2023 by 4:30 pm. The ERDA Board of Directors will review all applications at their next scheduled board meeting.
APPLICATIONS DUE FEBRUARY 3, 2023: The Enid Regional Development Alliance is offering (5) $7,500 MicroEnterprise 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, APPLICATION
The Equipment Grant will pay 50% of equipment purchase costs up to a possible maximum award of $20,000. Equipment should increase sales, increase efficiency, add an additional product line, add addition jobs or upskill existing jobs.
Qualifications: Company must employ a minimum of 7 FTE whose average pay is equal to or greater than $30,000 and the company must offer medical benefits where the employee pays no more than 50% of premium costs. APPLICATION
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 award. Infrastructure must be for infill development only and may not extend the boundaries of existing City utilities. Infrastructure must be new or improved/repaired to solve a problem that was impacting the business and leads to increased efficiencies, increased sales and/or employment.
Qualifications: Company must employ minimum of 7 FTE whose average pay is equal to or greater than $30,000 and the company must offer medical benefits where the employee pays no more than 50% of premium costs. APPLICATION
Small Business Renovation
The Small Business Renovation grant would pay 50 % of renovation costs to owned or leased space up to a maximum $5,000 award. Funds will be provided as a reimbursement of expenses to renovate, expand, or redesign a commercial, retail space. The business must pay sales tax revenue to the City of Enid to qualify for this grant.
Qualifications: The small business would have a maximum of 6 FTE. A certificate of occupancy must be received before reimbursement will be made by ERDA. Award may be forfeited if work is not completed within 12 months of award date or within 60 days of receiving certificate of occupancy, whichever comes first. APPLICATION
Downtown Sprinkler Assistance Program
This program is designed to encourage the redevelopment of Enid’s historical downtown buildings for commercial use by offsetting a portion of the cost to install fire suppression sprinklers in the building. The Downtown Sprinkler grant would be for 100% of the cost to install the exterior fire line, not to exceed $10,000. The award is reimbursed upon receipt of the Certificate of Occupancy from the City of Enid and paid receipts received by ERDA.
Qualifications: Buildings located within the boundaries of Main Street Enid – between the Railroad Track and Adams (east to west) and Elm and Owen K. Garriott (north to south). Applications are subject to ERDA Board approval at their next regularly scheduled meeting.
Eligible Costs for Award: Installation of the exterior fire line.
The award will expire 12 months from the award date and would then be forfeited. An extension may be requested but is not guaranteed. 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.
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 may have discounted/donated land or buildings for various 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