Resident Recruitment Program Boosts Business Relocation Efforts in Bartlesville | Local business news
The Bartlesville City Council this month approved incentives for two other companies: ConocoPhillips Permian Asset Acquisition and Phoenix Rising Aviation, an aircraft maintenance company. Software company HeraSoft was OK with the program in September.
“We knew we were missing an opportunity to grow our community and our tax base,” Bartlesville Development Authority Chairman David Wood said in a statement. “So we decided to try a new approach, and that’s how the Resident Recruitment Program was born. …
“Generally the cost of creating jobs is the same as traditionally offered – the difference is simply the beneficiary, the employee rather than or instead of the employer. In many ways, the return on public investment is higher because the recipient must live in the local tax jurisdiction. For this reason, targeted employee relocation incentives have proven to be the preferred use of job creation incentives.
The stimulus money, which requires city council approval, is for “primary sector” businesses that add or relocate at least 10 jobs, Batchelder said. The recruiting program — for which $160,000 has been allocated to date — is funded by a half-cent economic development sales tax that is submitted to voters every five years, he said. he declares.
Bartlesville’s economic scheme is similar to Tulsa Remote, a 3-year-old program that offers people $10,000 to live in the city for a year. He has brought over 1,200 people to the municipality, over 90% of whom remain after their one-year commitment and many are putting down long-term roots.