Oklahoma Creates Robust Evaluation Process for Economic Development Incentives
WASHINGTON—The Pew Charitable Trusts commended Oklahoma Governor Mary Fallin today for signing HB 2182, which creates a robust evaluation process for the state’s economic development incentives.
Jeff Chapman, who directs Pew’s economic development work, issued the following statement:
"Gov. Fallin and Oklahoma’s policymakers should be applauded for passing this bipartisan legislation, which establishes the state as a leader in evaluating economic development incentives. This comprehensive bill requires that all programs be evaluated regularly, provides criteria for measuring economic results, and ensures that evaluators will consider the long-term fiscal impact of incentives.
"The state is an active participant in Pew’s business incentives initiative, which includes the collaboration of six governors, each of whom has assembled a team with expertise in economic development, tax policy, budgeting, and other areas, to work across agencies and states to resolve common challenges.
"These efforts will help provide Oklahoma lawmakers with better information on which incentives are working, which are not, and how to improve the effectiveness and transparency of these programs. Oklahoma joins a growing list of states that have recognized that regular and rigorous incentive evaluations can help states obtain the best possible results for their taxpayers and economies."