One of the selling points on the VAP project that I blogged on yesterday, was the fact that the State of Oklahoma offers a 30% tax credit for value added ag investments by farmers. It made it a much easier sell to raise millions of dollars for the new venture.
Oklahoma also offers the same tax credit for venture capital and angel investor investments. One of the challenges that I made to the group in Alva, OK was to put their heads together to take advantage of that tax break.
I told them, “How difficult is this going to be to sell? You’re giving them a 30% guaranteed return, right off the bat. Just think of how you might be able to transform your community, if you could team up and use funding from a number of individuals and companies to help transform NW OK into an entrepreneurial haven.”
I’ll be very disappointed if they don’t do something.