OKLAHOMA (OBV) – The Oklahoma Department of Commerce and the Oklahoma Development Finance Authority (ODFA) are working together to invest tens of millions of dollars in businesses and communities across the state.
Officials with the two agencies announced Wednesday that they will invest $34.5 million toward the cause, providing Business Expansion Incentive Program (BEIP) and P3 Pooled Finance Program (P3) grants to the following five recipients:
- American Airlines
- Berry Global Group Inc.
- City of Frederick
- City of Lawton
- Oklahoma Custom Coating LLC
BEIP helps Oklahoma companies make substantial capital investments in depreciable items such as machinery, equipment and buildings. The P3 program facilitates local infrastructure development that benefits companies.
“For Oklahoma’s business sector to succeed, we must support the existing companies that are right here in Oklahoma,” said Lt. Governor and Secretary of Workforce and Economic Development Matt Pinnell. “Because of resources like the Business Expansion Incentive Program and the P3 Pooled Finance Program, Oklahoma companies will strengthen and grow, boosting local economies and moving our state forward.”
The grants amount to more than $405 million in capital investments to Oklahoma. Those funds are expected to create 365 jobs and nearly $40 million in annual payroll.
American Airlines received $22 million to fund planned infrastructure improvements and expansion of its existing Tulsa facilities. The funds will enable the airline to make a multimillion dollar capital investment and facilitate the creation of over 300 new jobs.
“We graciously thank Governor Stitt, Lieutenant Governor Pinnell and the State of Oklahoma Department of Commerce for recognizing the important work our team does and appreciate their investment in the future of our Tulsa maintenance base,” said Greg Emerson, American Airlines Vice President of Base Maintenance and Facilities. “American has a long, rich history in Oklahoma and this investment in our Tech Ops – Tulsa facility and team members ensures a bright future for years to come.”
Berry Global, a leading manufacturer in healthcare, hygiene and specialty products, received $700,000 from the BEIP Program. The grant will pay for a planned infrastructure expansion as well as the installation of a state-of-the-art printing press in its McAlester facility. This expansion will enable Berry Global to invest $17.7 million in capital within the state and create 21 additional jobs.
“We are excited to bring a world-class, ‘state-of-the-art’ printing press to McAlester with the support of the Oklahoma Department of Commerce,” said Robert Weilminster, Executive Vice President, Global Operations Health Hygiene and Specialties. “This investment will further enhance our position as a leading supplier of breathable printed films in North America while allowing us to expand our talented and diverse workforce.”
The Seminole-based Oklahoma Custom Coating received $450,000 to renovate its existing facilities and establish their headquarters in Oklahoma, as well as purchase new paint equipment. The grant enables Oklahoma Custom Coating to make a $5.4 million capital investment and create 36 new jobs with $1.6 million in new payroll.
“The BEIP program kept our planned new headquarters in Oklahoma and allowed us to expand the scope of our project to increase capacity and better serve our customer base,” said Adam Adkisson, Vice President, Oklahoma Custom Coating.
The City of Fredrick received $1.8 million to help build a new hospital to serve the city’s residents and surrounding communities.
“I want to thank the Oklahoma Department of Commerce for their ongoing dedication and hard work in establishing a self-sustainable hospital in Tillman County,” said Rep. Trey Caldwell. “This represents yet another instance of our commitment to ‘leave no stone unturned’ in our now seven-year mission to bring back proper healthcare access points in rural Oklahoma. I also want to thank Bancfirst, Benson Law and Pioneer Telephone for their ongoing commitment to advancing rural Oklahoma.”
The City of Lawton and FISTA were granted $9.6 million on behalf of FISTA Innovation Park. FISTA, a highly specialized facility, supports aerospace and defense as well as STEM education programs. It’s an incubator for aerospace and defense businesses.
“Lawton Fort Sill is excited to receive an award to continue renovating the FISTA and make infrastructure improvements in proximity to Fort Sill,” said Dr. Krista Ratliff, President and CEO of FISTA. “The award will enable investment in an administrative space, a state-of-the-art STEM lab for our students, along with an incubator and accelerator to help entrepreneurs grow their innovations into actual business models. This is going to allow FISTA and Lawton Fort Sill to lead the nation in innovation!”
