AT&T is seeking $350,000 in job creation incentives from Oklahoma City to bring about 140 new positions to the city over the next three to five years.
The amount of job creation incentives that Oklahoma City will give AT&T is calculated by how much money the company invests in the city and its employees, said Cathy O'Connor, president of the Alliance for Economic Development of Oklahoma City, who oversees many of the city's economic development programs.
By the city's calculations, the new jobs AT&T is bringing to Oklahoma City will have a $51 million economic impact on the city over the next five years.
“The amount of money is a function of the wages the company pays and whether or not they are making any capital investment in the city,” O'Connor said. “We use a model that calculates what the return on investment is for the taxes that they generate.”
About 100 new jobs
The Oklahoma City Economic Development Trust voted on Tuesday to begin negotiating with AT&T for the incentives, offered through the city's Strategic Investment Program, funded by $75 million in general obligation limited tax bonds that Oklahoma City voters approved in 2007.
AT&T announced in June that it would create about 100 new project management jobs in Oklahoma City as part of an expansion of its business services division, but said more positions could be added later.
Continue reading this story on the...
MORE FROM NEWSOK
AT&T looked into a number of alternative locations for these jobs. State and local incentives were important in positioning Oklahoma City. The friendly business climate, high quality of life and excellent workforce make Oklahoma a place were AT&T is excited to invest.”
Oklahoma president for AT&T