Three companies have qualified to receive up to a combined $6.46 million in job creation incentives over the next 10 years for creating a total 164 new jobs through Oklahoma's Quality Jobs Program, the Oklahoma Department of Commerce announced Friday.
Emerge Diagnostics has qualified to receive up to $1.18 million in Quality Jobs money over the next 10 years to create 28 new jobs in Tulsa. The company develops new medical equipment to diagnose soft-tissue injuries.
IPS Engineering can receive up to $2.61 million in Quality Jobs money over the next 10 years to create 61 new jobs in Tulsa. IPS provides engineering services for pipelines, pump and compressor stations, and related liquids and natural gas facilities.
PureCoat has qualified to receive up to $2.65 million in Quality Jobs money to create 75 new jobs over the next 10 years in Ardmore. The company manufactures a line of coating materials for the powder coating industry.
The Quality Jobs Program provides quarterly cash payments of up to 5 percent of a company's new payroll for up to 10 years.
Since 1993, the state has issued more than 685 contracts to locating, expanding and startup businesses. The state Department of Commerce prepares a cost-benefit analysis to determine the amount each company's incentive.