Tax Credits to Cherokee Nation Businesses

Cherokee Nation Businesses has been awarded $60 million in New Market Tax Credits, which can be used to encourage businesses to locate and expand operations in northeastern Oklahoma. Cherokee Nation Businesses will offer the tax credits as incentives to companies who can bring jobs and economic opportunity to this region.
“Cherokee Nation Businesses is creating an environment for job creation and investment in our local communities,” said Chad Smith, Principal Chief of the Cherokee Nation. “Cherokee Nation and our businesses employ nearly 8,000 people, and these tax credits, coupled with other incentives, will help us bring in millions in private investment to create more jobs and further diversify our economy.”
The $60 million in tax credits are the largest ever granted to a tribally affiliated organization and the second largest allocation of New Market Tax Credits in Oklahoma history. Cherokee Nation Businesses was the only tribally affiliated entity in the nation to receive New Market Tax Credits this year, and its allocation was the largest of any organization seeking to use the tax credits in a localized region.
Southeastern Freight Lines, a provider of regional less-than-truckload transportation services, has expanded international operations to Mexico.
To assist in its expanded operations, Southeastern has opened a new service center in Laredo with 46 doors and a 30,000-SF warehouse.
“This facility gives us the infrastructure and capacity to grow and service our customers like never before,” said Bob Bullock, vice president of Southeastern Freight Lines international operations.
Entrepreneurs young and old are invited to enter the New Product and Process Fair to be held Dec. 5 at the Wes Watkins Center on the campus of Oklahoma State University. The application deadline is Nov. 16. Official rules and regulations are available in a clear, easy-to-navigate format at www.newproductsfair.com.
Fair founder and former Congressman Wes Watkins says the annual event is designed to challenge the creativity and inventiveness of people of all ages.
Fair sponsors are Oklahoma Department of Career and Technology and Rural Enterprises of Oklahoma, a non-profit economic development firm.
Oklahoma’s tourism professionals gathered to honor fellow tourism industry leaders with RedBud Awards at the Governor’s Conference on Tourism, where the Stillwater Convention and Visitors Bureau was named the Tourism Organization of the Year.
The SCVB also received the merit award for Overall Marketing Campaign.
The Oklahoma Tourism and Recreation Department partners with the Oklahoma Travel Industry Association to present the awards.
A training session in Sapulpa will focus on providing small business owners with opportunities for increasing sales and profits, according to Barbara Rackley, coordinator of the Women’s Business Center of Rural Enterprises of Oklahoma, Inc. (REI).
Dewey Brandon of the Oklahoma Tax Commission, marketing consultant Denise Mason Chambers and a panel of local bank lenders will present the workshop, entitled “Small Business Essentials,” 9 a.m. until 3 p.m. Thursday, Oct. 30, at Central Technology Center, 1720 S. Main, in Sapulpa.
There is no registration fee and lunch will be provided.



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