On March 4, 2025, the Oklahoma State Legislature introduced Senate Bill 1090, a legislative proposal aimed at enhancing investment opportunities within the state through the establishment of the "Invest In Oklahoma" program. This initiative seeks to encourage public entities to invest in local venture capital and growth funds, thereby fostering economic development and supporting Oklahoma-based companies.

The bill outlines several key provisions, including the encouragement for public entities to allocate up to five percent of their rolling three-year assets under management into qualifying venture capital and growth funds. The State Treasurer is tasked with overseeing the program, ensuring that investments are managed prudently and with a focus on both safety and potential income. Additionally, the bill mandates the creation of a request for proposal that outlines specific criteria for participating funds, which will be maintained by the Oklahoma Center for the Advancement of Science and Technology (OCAST).

Debate surrounding SB 1090 has highlighted concerns regarding the effectiveness of public investments in private equity and venture capital. Proponents argue that the bill could stimulate local economic growth by directing funds to Oklahoma businesses, potentially creating jobs and fostering innovation. Critics, however, caution against the risks associated with investing public funds in private ventures, emphasizing the need for stringent oversight and accountability to protect taxpayer interests.

The implications of SB 1090 extend beyond mere financial investment; they touch on broader economic strategies aimed at revitalizing Oklahoma's business landscape. By promoting local investment, the bill could help retain talent and resources within the state, contributing to a more robust economy. Experts suggest that if successful, this initiative could serve as a model for other states looking to enhance their economic development strategies.

As the bill progresses through the legislative process, stakeholders will be closely monitoring its developments. The outcome of SB 1090 could significantly influence the future of public investment in Oklahoma, shaping the state's economic trajectory for years to come.