Two companies have qualified for up to a combined $1.2 million from the state's Quality Jobs Program to create up to 98 new jobs in Oklahoma over the next 10 years.
Oklahoma City-based Accurate Laboratories, Inc. has qualified for up to $864,862 in wage rebates to create up to 48 jobs over the next decade. The company offers calibration, precision measurements and equipment sales.
Tulsa-based Precision Fabricators Inc. has qualified for incentive payments through the state's Small Employer Quality Jobs Program.
The company has been approved by the state to receive up to $381,292 in Quality Jobs rebates to create up to 50 jobs over the next 10 years.
Precision Fabricators manufactures direct fired heaters, heat recovery units and other equipment used in the oil and gas processing industry.
The Oklahoma Commerce Department oversees the Quality Jobs Program, which gives companies quarterly cash payments to locate and expand in the state.
The payments are based on payroll numbers and companies can receive payments for up to 10 years. Most companies must maintain a taxable payroll of at least $2.5 million for four consecutive quarters during the first four years of the program to qualify for the job incentives.
Oklahoma has inked more than 705 job creation deals with new, relocating or expanding companies since the Quality Jobs Program began in 1993.
The program has paid out more than $871 million in wage rebates since its inception.