Altus Venture $126 million View
Scissortail $90 million View
Foxborough $300 million View
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Venture capital (also known as VC or Venture) is a type of private equity capital typically provided to early-stage, high-potential, growth companies where the rewards are years out and carry a high risk. Venture capital is a special kind of funding to create a foundation for building the businesses that will replace today's diminishing industry and jobs. Oklahoma's venture tax credit program was intended to incentivize that venture capital funding needed by rewarding investors tax credits worth 20 to 30% of their at risk investment. |
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"We gave $17.9 million in tax credits to that space group in Burns Flat and they turned around and sold them for $15 million and there's no space ship or no plans to have one," State Rep. David Dank, R-Oklahoma City
Little has been uncovered on Rocketplane. We know Rocketplane which at least $17.9 million in tax credits went to Rocketplane, which in turn sold $15 million of those for cash. Another tax credit rip off that produced nothing except a rusty shell of an old airplane cockpit that anyone can pickup from an aircraft junk yard for little more than the cost to haul it away. Rumor had it that Rocketplane, located at Burns Flat, OK, hired few Oklahomans while preferring to bring their Kansas employees to Oklahoma on a temporary basis to work on another project they hoped would land a NASA contract. Of course Rocketplane failed there too. Rocketplane is a great example of how inept and totally unqualified those allowed tax credits are in selecting business investments. | ||||||||||||||||||
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