Macy's Inc. could receive up to $21 million in tax breaks and incentives for its $170 million order fulfillment center to be built in Tulsa County.
The Tulsa World reports the largest of those tax breaks would come from Tulsa County, pending approval from county commissioners.
The commissioners recently agreed to pursue the creation of a Tax Incentive Finance District that would exempt Macy's from property taxes on new construction for four years at its planned site for the center.
The county assessor's office estimates that the company could save more than $1.7 million per year — or more than $8.75 million over the life of the tax abatement. Under Oklahoma's incentive program, the state will pay Tulsa County the taxes that would have been owed by Macy's.
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