State Program Helps Creates Nearly 700 New Jobs

While Moody’s and an economic survey by a Creighton University professor don’t exactly heap glowing praises on Oklahoma’s economy, the state is still adding jobs thanks to the Quality Jobs Program at the Oklahoma Department of Commerce.

The addition of four companies under the program means the creation of 679 new jobs in the state, according to an announcement by the Quality Jobs Program.

Power Costs, Inc. of Norman, a firm that sells and supports utility software and provides consulting services is creating 48 new jobs due to nearly $1.8 million in benefits from the state. The enrollment by Power Costs means an expansion of the company.

Verinovum, LLC of Tulsa is getting nearly $2 million in state assistance and expanding its operations to create 47 new jobs. Verinovum monitors and acts on data coming from the “blueprint-less” medical superhighway. Another Tulsa company, Spacenet, Inc. received $1.3 million in expansion help to create 50 new jobs. Spacenet designs, implement and manages fast, secure and reliable communication networks for groups with geographically dispersed locations.

The largest creation of jobs will be the $6.6 million in help going to Progrexion ASG, Inc. of Oklahoma City. The new firm will add 534 new jobs to the state’s employment. Progrexion ASG provides IP, technology, marketing, administration and teleservices.

Under the Quality Jobs Program, qualifying establishments that create new jobs receive an incentive to locate or expand in Oklahoma. The program provides quarterly cash payments of up to 5 percent of new taxable payroll directly to a qualifying company for up to 10 years.

Since the program was created in 1993, Oklahoma has issued more than 743 contracts to locating, expanding and start-up businesses and those contracts total more than $968 million in performance-based wage rebates.





   

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