The Oklahoma Department of Commerce announced Wednesday that Tulsa-based oil and natural gas equipment manufacturer Summit ESP LLC has pledged to hire 148 new employees in exchange for $3.1 million in economic incentives under the Oklahoma Quality Jobs Program.
Summit was one of four companies enrolled during December of 2016 under the program, which provides quarterly cash payments of up to 5 percent of new taxable payroll directly to a qualifying company for up to 10 years.
Oklahoma City-based D&M Employee Leasing LLC, which operates Freymiller Inc., qualified for nearly $810,000 under its plan to create 98 jobs, primarily directed at hiring service technicians and mechanics to maintain its trucking fleet.
Oklahoma City-based Southwest Electric Co. qualified for nearly $3.5 million in incentives based on its plans to hire 220 employees.
Summit, D&M and Southwest Electric have already participated in the Quality Jobs Program.
Tulsa collection services company McCarthy, Burgess & Wolfe Inc. agreed to create 100 new jobs in exchange for $1.7 million in incentives. It is the company’s first award under the program.
Companies that receive incentive payments also may be eligible for the five-year ad valorem tax exemption for manufacturing, a free industry training program, foreign trade zone and free port benefits and other technical/financial assistance programs.