Senator Nancy Riley said she would continue working to secure a tax break for a Sand Springs Employer of 350; that after her attempts to attach an amendment to another tax incentive bill were blocked in the State Senate.
Im very disappointed that Senator Brad Henry would not include this legislation in his bill to help Great Plains Airline. More people are going to be immediately impacted with whats happening to Sheffield Steel in Sand Springs. It is a crisis for the community, and a crisis for the state, explained Riley.
Im also surprised that the principal author, Representative Russ Roach, whose district includes Sand Springs took no action to help this company while the bill was still on the house side, said Riley.
Sheffield Steel in Sand Springs has already filed Chapter 11 bankruptcy, and two of its three subsidiary companies are in Chapter 11 as well. Senator Riley had sought to attach an amendment to HB 2315 giving the company a $3 million tax credit. However Senator Henry advanced the bill without hearing the amendment, fearing it could slow down passage of the Great Plains legislation giving that company $9 million in tax incentives.
Were already lost other major employers in Sand Springs, such as Liberty Glass. Losing these 350 jobs would be devastating to those families, but if the company goes under, the community would be affected as well because of the loss of ad valorem taxes; taxes that support our local schools, libraries and other municipal services, noted Riley, R-Tulsa.
In addition, those 350 employees pay $847,000 a year in state income taxes. The state would lose all of that, and ultimately those families could end up needing welfare and Medicare assistance, said Senator Riley.
Despite not being able to even have her amendment heard today, Senator Riley said she would keep working to find a vehicle for the tax credit legislation.
This is too important for Sand Springs and for our state. Those families are counting on us to help save their jobs, said Riley.