Business Incubators
Business incubators are facilities designed to accelerate the development and success of start-up and existing businesses. By providing affordable lease space and a wide array of on-site managerial, administrative and financial services, the incubator assists entrepreneurs and small business owners in overcoming challenges faced in the marketplace.
Oklahoma boasts a total of 42 certified business incubators. Each has undergone a thorough review by the Oklahoma Department of Commerce prior to their certification. Incubators provide leasehold space for a wide range of tenants in service and light manufacturing industries, as well as firms conducting research and development activities.
Bottom-Line Benefits
For start up businesses/tenants:
-
Cost effective lease rates and business development services, such as financial consulting and marketing assistance
- State tax liability exemption on income earned as a result of activities conducted as an occupant in an incubator for up to ten years.
For Certified Incubators/Sponsors:
- Oklahoma income tax exemption on income derived from services provided to the tenants, or for providing funding for an incubator site. This exemption is for ten years from the date of the tenant’s occupancy within an incubator.
To Apply
Certification of business incubators may be obtained through the Oklahoma Department of Commerce through an application process. Details regarding the operation and range of services are required to be presented in a business plan.
Contact:
Rana Steeds
405-815-5143
800-879-6552
Related Websites
National Business Incubation Association
The National Business Incubation Association (NBIA) is a private, nonprofit 501(c)(3) membership association. NBIA comprises organizations and professionals from throughout the world who share an interest in advancing the business incubation industry’s role as an effective tool that supports the process of developing entrepreneurs and their businesses.
Disclaimer
The materials contained on this website have been prepared by the Oklahoma Department of Commerce for informational purposes only and do not constitute legal or tax advice. This information is subject to change based on judicial interpretation and legislative action. The application of the information is subject to your unique facts and circumstances. YOU SHOULD NOT ACT UPON ANY INFORMATION CONTAINED IN THESE MATERIALS WITHOUT SEEKING YOUR OWN PROFESSIONAL LEGAL AND TAX ADVICE.