Bill No. 2402, known as the "Oklahoma Advanced Manufacturing Incentive Act of 2025," aims to establish a tax incentive and direct grant program to attract manufacturers specializing in low-grade waste heat electrification technology to Oklahoma. The program is designed to promote investment, job creation, and expansion in the energy sector. Eligible manufacturers can qualify for state corporate income tax abatements based on their investment levels and job creation, with two tiers of incentives: up to 30% for investments of $10 million or more creating at least 50 jobs, and up to 50% for investments of $20 million or more creating at least 100 jobs. Both tiers are renewable for an additional five years, contingent on compliance and continued investment.

Additionally, the Oklahoma Department of Commerce will administer a direct grant program capped at $20 million over five years, prioritizing projects in specific areas and those contributing significantly to the state's economy. The total incentives provided in any fiscal year will not exceed $8 million, with unused funds rolling over to subsequent years. Manufacturers must establish new operations in Oklahoma, submit an eligibility application, and file annual reports detailing their investments and job creation. The Department of Commerce will also collaborate with educational institutions to develop training programs for the workforce. The act is set to expire on July 1, 2030.