Failure to do due diligence before investing state money!
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Oklahoma officials neglected to require "due diligence" and "economic feasibility", for state funded economic development incentives. As any reasonable person would expected, this resulted in failed or failing ventures. No jobs, no economic boost, only providing a tax shelter for the wealthy.


"Economic feasibility" evaluations are the investors' tool to better evaluate a ventures potential for success, if the market could support the business, are there too many competitors, etc?


"Due diligence" includes "economic feasibility" while going further evaluating management capabilities, financial history, criminal background, etc.


Oklahoma officials simply ignored these fundamental and responsible steps, in effect pre-approving all ventures.


Note: failed or failing ventures - The known ventures that have became public through non-official channels. State officials refuse to release information on where these tax dollars. It is estimated there are 50 plus.



Venture Amount given Promised jobs
actually created
Successful
accomplishments
Current status
Great Plains $27 million Small portion ZERO
Quartz Mountain Aerospace $66 million Less than one-third ZERO Money gone!
Laying off the few.
Closing imminent.
Rocketplane $18 million Small portion
mostly out of state
ZERO Money gone!
Laying off the few.
Closing imminent.

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