Expand the mission of the Oklahoma Transportation (Turnpike) Authority to include other forms of transportation and communication. The new Communications and Transportation Authority would be authorized in 2003 and would consider:
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Direct air flights and potential direct subsidies.
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Expansion of telecommunications including OneNet.
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High speed rail traffic connecting Tulsa and Oklahoma City to Dallas and Kansas City.
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Support for Oklahoma’s waterways.
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Expanded highways and highway maintenance.
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Focus on making Oklahoma the most revitalized and vibrant rural state in U.S. Measured by: 100 Certified Mainstreet communities and other community group projects; $1 billion of reinvestment; increase in number of small business; endorsing internal Mainstreet measurements.
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Economic competitiveness: Attract and grow high performance companies.
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Improve the access of small businesses to information.
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Community leadership programs expanded to rural Oklahoma; Identify and develop leaders to revitalize rural America incentives for agriculture and create new or expand existing incentives for capturing further value from our extraction based industries such as energy, agriculture, timber, and other natural resources.
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Technology and business cluster development. Identify five key industry anchors to promote and market Oklahoma’s R&D and corporate assets. Increase significantly public and private R & D in Oklahoma through the cooperative effects of existing research institutions and also of business development. Increase inflow of federal dollars with help of our congressional delegates.
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Enhance our intermodal transportation system.
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Increase pool of venture capital in Oklahoma.
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Promote regionalization. Convene leaders from region on how to utilize and leverage resources of region using cooperation and cross fertilization. One of these groups should be created within each of four state quadrants.
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Generation of emerging technology intensive industries-including biotech; bioag, biomed and other related biological areas, nanotechnology, telecommunications, software and advanced materials.
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State government should take action to provide information to small businesses. It should improve access to and streamline delivery of information.
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The Department of Commerce needs to be communicating more effectively with chambers, Mainstreet and other organizations. The Department of Commerce needs to maintain the Business Incentive Guide and How to Do Business in Oklahoma guide current and up to date and it should be available online. The Department of Commerce should regularly hold educational meetings with local chambers of commerce and business development groups.
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Increase the total number of Oklahomans employed by knowledge-based businesses.
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Enhance the quality, quantity and entrepreneurship of Oklahoma human capital.
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We should request the state to match private funds reinvested in the local economy and community. For example, the state could use revenue from one of the proposed revenue generating policies to fund an endowment which could then provide matching grants to leverage federal grants which require matching, such as SBIR grants.
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Initiative petition to raise fuel taxes for infrastructure purposes by 4 to 8 cents.
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Develop and pass the “Electron Development Fund Act” - levying a tax on kilowatts of energy and target the funds to improving educational excellence and/or investments in technology and/or to offset the revenue impact other targeted tax cuts.
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Minority Report (Electron Dev Fund Act): Oppose the passage of the “Electron Development Fund Act”, appearing on page 45. Electricity is an exportable product. As such, we should encourage the development of that industry which adds value to our energy resources. By taxing electricity as an exported commodity, we discourage development and investment. The net result would be to make Oklahoma products less competitive with producers in surrounding states. This is in conflict with our goal to import dollars to our economy, An “electron” tax on electricity would be no different than a “molecule” tax on all manufactured products.
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We should remedy our tax structure to reduce the top marginal income tax rates, increase the dollar amount at which the income tax begins, expand the sales tax base and eliminate income tax on capital gains. Encourage the next generation of family farmers and ranchers to stay in agriculture by eliminating Oklahoma’s death tax, or at a minimum adopting federal exemption levels.
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Encourage growth and development of a statewide broadband and digital telecommunications network by supporting state and federal policy changes which encourage private investment in digital and broadband telecommunication technologies.
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Allow private business access to OneNet.
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Consider privatizing the management of OneNet by leasing the system to the private sector.
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Create an incentive on the state’s tax code that allows high performance Oklahoma companies to sell net operating losses to other companies.
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Eliminate or reduce the state income tax on capital gains.
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Encourage Oklahoma pension funds to invest in Oklahoma businesses.