UPDATE: Mercury Marine

Oklahoma City, OK – Mercury Marine to repay tax credits

OKLAHOMA CITY (AP) Boat engine manufacturer Mercury Marine plans to repay tax credits it received from Oklahoma now that it plans to relocate jobs from the state.

Wisconsin-based Mercury Marine revealed the plans in a letter from company President Mark Schwabero to Oklahoma House Speaker Chris Benge and other state lawmakers on Tuesday.

Last spring, the state Legislature approved investment tax credits as an incentive for the company to move jobs in Wisconsin to its manufacturing plant in Stillwater.

But last week, the company said it would relocate about 380 Oklahoma jobs to Wisconsin within two years after union workers at the Wisconsin plant agreed to wage and benefit concessions.

Mercury Marine says it will refund any benefit it has received with interest no later than Sept. 14.