Oklahoma City trust approves incentives for Amazon center

The Journal Record - May 16, 2018 4:19 pm

OKLAHOMA CITY (AP) – An Oklahoma City trust has approved $1.7 million worth of incentives for Amazon in exchange for job creation and capital investment at the company’s new order-fulfillment center.

The Journal Record reports that the Oklahoma City Economic Development Trust approved the incentives Tuesday.

The money would come from general obligation limited tax bond debt if approved by City Council. The city wouldn’t release the incentive unless Amazon creates 53 jobs over five years.

The retail giant promises to hire more than 1,700 people at its new center, with a total payroll of $11.5 million the first year. The company is expected to create sales tax and property tax revenue worth $2.6 million for the first two years.

Public comments on the decision included complaints of non-transparency. Chairman Larry McAtee says Amazon required the trust keep negotiations quiet.

 

Latest Stories

Citizens Police Academy Applications Online

If true crime podcasts and reruns of Cops are no longer satisfying your curiosity, the Ponca...

Former NOC Wrestling Coach Honored

Former NOC Wrestling Coach Bob Zweiachar was honored Oct. 31 at the NOC-Trinidad (CO) wrestling match...

Oklahoma Slashes Developmental Disabilities Waitlist From 13 Years to Two

OKLAHOMA CITY, OKLA — The Oklahoma Department of Human Services announced the reduction of the Developmental Disabilities...