Oklahoma Innovation Expansion Program (OIEP)
Oklahoma Department of Commerce
Up to $150,000
Up to $150K OK cash rebate for $50K+ capital investment
OIEP makes $15 million in funding available annually to Oklahoma for-profit businesses that invest at least $50,000 in qualifying capital expenditures (equipment, machinery, fixtures, or property improvements). Awards of up to $150,000 are paid as monthly cash rebates based on payroll tax over 12 months. The 2026 application window opened March 30 and closed April 10 — the 2027 cycle will follow a similar early-spring schedule.
- Funding type
- Grant
- Level
- State
- Amount range
- $150,000
- Realistic amount
- Most recipients receive $50,000–$150,000 in rebates over 12 months. Award amounts are not publicly disclosed per recipie…
- Deadline
- Annual — approximately March 30 to April 10 each year. The 2026 window closed April 10, 2026. Monitor okcommerce.gov/oiep/ for the 2027 window announcement.
- Status
- between-intakes
- States
- OK
- Payment model
- advance
Who qualifies
- For-profit entity with a facility located in Oklahoma
- Minimum capital expenditure of $50,000 or more (must occur after receiving an award letter)
- Minimum annual payroll of $625,000 at the project facility
- Project must be an innovative initiative, supply chain improvement, or new market targeting effort
- Must spend at least 10% of estimated project costs within 90 days of signing the funding agreement
- Cannot simultaneously participate in Oklahoma Quality Jobs Act programs
- Must meet all requirements under Oklahoma's Economic Development Pooled Finance Act
Hard requirements
- Must be incorporated
- Location restriction: Oklahoma
- Minimum project size: $50,000
What it covers
Eligible expenses
- Equipment and machinery (depreciable assets)
- Fixtures and leasehold improvements
- Improvements to property (real estate-related capital expenditures)
- Production equipment, manufacturing tools, technology hardware
Ineligible expenses
- Employee costs (salaries, wages, benefits)
- Vehicle purchases
- Inventory
- Operating expenses and working capital
- Expenditures made before receiving an award letter
How to apply
-
1
Monitor for annual application window (March)
Watch okcommerce.gov/oiep/ for the announcement of the annual application window, typically opening in late March for a 10-day period. Sign up for Commerce notifications to get advance notice.
~1 hrs
-
2
Submit application during the 10-day window
Complete and submit the OIEP application through Commerce within the announced window. Include business plan, revenue projections, capital expenditure plan (minimum $50K in equipment/machinery/property improvements), and payroll documentation.
~10 hrs
-
3
Receive award letter and execute funding agreement
Successful applicants receive an award letter from Commerce. Execute the funding agreement — all qualifying capital expenditures must be made AFTER this date.
~3 hrs
-
4
Make capital investments and receive monthly rebates
Spend at least 10% of project costs within 90 days of the funding agreement. Commerce pays monthly cash rebates based on payroll tax over 12 months after initial spending requirements are met.
~5 hrs
The 10-day application window is real — companies that discover this program in May miss the year. Set a calendar reminder for late March and prepare your capital expenditure plan and payroll documentation in advance so you can submit on Day 1.
Deadline & timing
The 2026 application window (10 days: March 30 – April 10) has closed. The 2027 window will follow a similar early-spring schedule. All capital expenditures and spending must occur AFTER receiving an award letter — pre-application spending does not qualify.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.