RECRUITING
MAYES COUNTY TIF DISTRICT
Questions and Answers
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WHAT IS A TIF?
TIF is short for Tax Increment Financing.
Establishing a Tax Increment Financing (TIF) is used as an incentive to recruit new employers in a specific area and a valuable investment in buildings and equipment.
WILL A TIF DISTRICT RAISE MY TAXES?
A TIF District will not raise your taxes. Tax rates do not change with a TIF District is created. It will not impact your existing property tax or the sales tax we pay at the grocery store or the gas pump.
WILL GOOGLE AND CANOO BE INCLUDED IN THE TIF DISTRICT?
No, the TIF District will only include undeveloped land with no current employers.
WHAT IS CURRENTLY BUILT IN THE TIF DISTRICT?
There are no employers or buildings in the proposed TIF District boundary. The undeveloped land will be prepared with roads, electricity, and water.
WHO WILL OVERSEE THE FUNDS? HOW DO WE KNOW HOW THEY ARE USED?
Per the Project Plan, primary oversight will be the Mayes County Commissioners and the County Assessor to ensure the funds are used as defined by the Project Plan.
A public Annual Report and Audit by a third party organization will ensure our taxpayers receive transparent information regarding the investments and outcomes.
WHAT IS THE DIFFERENCE BETWEEN A TIF AND A TID?
A Tax Incremental District (TID) only improves the land associated with a development. A Tax Incremental Financing (TIF) provides funds for the development AND funds for County-wide improvements and redevelopment projects.
WILL THE TIF HELP OR HURT OUR SCHOOLS?
A TIF District does not change the current funding that any school district in Mayes County receives – meaning, it will not hurt any school district. Creating the TIF District also will not change the current amount of funding a school receives from the State of Oklahoma.
However, a TIF District will help provide additional funding so a school within the project area can grow as the population grows.
WHAT SCHOOL DISTRICT IS LOCATED WITHIN THE TIF DISTRICT?
The undeveloped land in MidAmerica Industrial Park falls within the Chouteau-Mazie Public School District.
WHY DO WE NEED PROJECT FUNDS AND HOW CAN THEY BE USED?
A TIF District will create funds from ad valorem taxes that are used to develop the land and attract a new, mega employer.
Additional funds will be distributed throughout the project area as outlined by the project plan.
WHY NOW?
Since its creation 60 years ago, MidAmerica Industrial Park has successfully created 4,500 jobs. Incentives from the State of Oklahoma help, but are not always enough to compete for a major project.
Mayes County has a once-in-our-lifetime opportunity to recruit a new, mega employer that will transform the lives of all citizens. We must be able to compete at the highest level possible and we cannot do it without support from all of our communities.
WHY CREATE A TIF?
DO WE NEED ONE?
A TIF District means Mayes County can compete with other states and other counties in Oklahoma for new jobs and new businesses.
There are 95 TIF Districts across 28 counties in Oklahoma that help recruit major manufacturers and invest in community improvements.
A TIF District will help Mayes County prepare for population growth and the funding needed for public services like police and fire, healthcare, water, electricity, roads and education.
WHAT ARE THE 3 PARTS OF THE TIF?
TIF DISTRICT
In Mayes County, the TIF District boundary will be created within the MidAmerica Industrial Park on undeveloped land with no current employers or buildings.
TIF PROJECT AREA
All of Mayes County will be considered a part of the project area and will benefit from the revenue created by the TIF District.
TIF PROJECT PLAN
The TIF Project Plan is under development by a review committee that will determine funding priorities.
WHAT TAXING ENTITIES WOULD RECEIVE AD VALOREM?
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Mayes County
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Chouteau-Mazie
Public School District
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NETech
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Mayes County Health Department
IS THE CHOUTEAU-MAZIE SCHOOL DISTRICT CURRENTLY RECEIVING AD VALOREM FROM THE TIF DISTRICT AREA?
No, as the land is owned by MidAmerica Industrial Park and is undeveloped with no buildings or investment, the Chouteau-Mazie School District currently receives no benefit from the land.
HOW WILL THE TIF DISTRICT IMPACT MAYES COUNTY?
All areas of Mayes County will improve. Thousands of new, high-paying jobs will be created and provide new opportunities for our citizens and for our familes for many generations to come.
TAKE TIME TO KNOW THE FACTS
THERE ARE 95 TIF DISTRICTS IN OKLAHOMA.
The Oklahoma State Statute clearly defines how it is regulated. Do not be confused by people quoting TIF Districts in other states. That is like comparing an apple to a pencil.
TAX INCENTIVES ARE NOT SUBSIDIES.
Tax incentives are pro-business. Tax incentives aim to attract more jobs and investment to Oklahoma by making it less expensive to start up operations here. Do not be fooled by those trying to call the TIF District a “subsidy.” A subsidy is money given to firms in an effort to boost business.
OUR COMMUNITIES WILL GROW FOR THE FIRST TIME IN A DECADE.
The census reports Mayes County continues to shrink. Businesses close, kids move away, and a smaller population is paying more to just maintain our communities. A group of people want to scare you into thinking growth is bad. But, to be sure our communities are prepared for growth, Gov. Stitt pledged an additional $145 million
in funds to help prepare us for a project this size.
WHAT WE STAND TO WIN:
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$6 billion in new investment
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4,000-6,000 new jobs
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$408 million in new payroll each year
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New businesses
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New neighbors
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New education funding
WHAT WE STAND TO LOSE:
The Company is expected to make a decision soon. Without the TIF District, we do not win this project. Going to the “vote of the people” will delay the TIF District another 6 months and we do not win this project.
THE TIF DISTRICT DOES NOT USE “YOUR” MONEY.
In the first 12 years of the TIF District, the company will pay $300 million in new tax revenue to Mayes County.
HERE’S HOW IT WILL BE USED BASED ON THE PROJECT PLAN APPROVED:
Revitalizing Rural
Communities in Oklahoma
There are 95 TIF Districts across 28 counties in Oklahoma that help recruit major manufacturers and invest in community improvements through Tax Increment Financing (TIF) Districts.
A new development built within a TIF District creates a higher property value and increases the County’s ad valorem tax revenue, which is reinvested within the TIF District to pay for the development.
In Mayes County, the TIF District will be established on undeveloped land within MidAmerica Industrial Park with the highest potential to create a large return in ad valorem. This investment incentive will return millions of dollars in new jobs, innovative new businesses and infrastructure improvements throughout the area.
95 TIF
DISTRICTS IN OKLAHOMA
What is
Ad Valorem?
In Oklahoma, “ad valorem” means “according to value.” This simply means the tax is a certain percent of the property’s total cash value for land, buildings, business equipment and inventory. Ad valorem taxation generates revenues to support public services and projects provided by local government agencies.
A PLAN TO IMPROVE OUR COMMUNITIES
Transforming Mayes County.
Thousands of new jobs will require investment to prepare for the acceleration of population growth.
The Mayes County TIF District includes a “Placemaking Plan” which reviews the impact the new employment growth will have on each of our communities.
A portion of ad valorem taxes generated by the Mayes County TIF District will fund additional job-creating projects and invest in county-wide infrastructure such as roads, power/water supply, technology and education to support a growing population.
Projected Investment & Return
Oversight & Reporting Successes
INVESTMENT
$4 – $6 billion in private investment
RETURNS
4K-6K new, high-paying direct jobs
1,200 new, supportive indirect jobs
$408 million in new annual payroll
74,500 temporary jobs during construction
which equals $3.7 billion each year
AD VALOREM PROJECTION
The ad valorem projection is approximately $24 million annually once the project development is complete.
Reporting the investments and successes to the citizens of Mayes County is a number one priority.
The money created by the TIF District does NOT go directly to MidAmerica Industrial Park. The County oversees the public funds. Not MidAmerica.
The Board of County Commissioners, Assessor and Treasurer distribute the funds to MidAmerica, as a public trust for the State of Oklahoma, to pay for the development of the project.
TRANSPARENCY IN REPORTING
A third-party audit each year will report to the taxpayers how Mayes County has distributed the funds according to the plan when the TIF is formed.
Raising our Economy.
The rapid expansion in employment and population will accelerate the growth of all businesses and tax revenue streams in Mayes County through the following:
Small business owners benefit
More money is circulated in our communities for goods and services in demand from area stores. More purchases are made for home goods, furniture, home improvement materials, cars/trucks, groceries, fashion, and more.
More money to fund Police, Fire
and Emergency Responders
Our communities’ police, fire and emergency responders rely on retail sales tax revenue for funding. Increasing our population means more money is generated at retail stores.
New housing and residential
developments to fund schools
Our schools rely on property taxes to fund essential improvements and expansions. The population increase will require new housing and residential developments and create a new ad valorem stream for school districts.
Quality healthcare services increases
As more people move into our region, the demand for local healthcare services and specialists also increases to encourage expansion of hospitals, urgent care locations and County health department services.
Entire economy improves for all
More money is invested in the local banks and financial institutions; which assists with increased lending opportunities for property owners, farmers and ranchers, and small business owners.
More jobs for all
Labor needs for residential and commercial construction and heavy equipment contractors will increase; local jobs at retail stores will increase; more jobs for police, fire and first responders will increase; more teachers and support personnel will increase at local schools; and demand for more service providers will increase.
Proposed TIF District Map
The land currently provides $0 to the County and $0 to the Chouteau-Mazie School District.
It has just been sitting here for decades waiting for the right project at the right time.
The TIF District creates “new” money and does not take away any current County or school funds.
However, there is no money unless the Company selects Oklahoma and builds here.
Click on map to magnify.
