OKLAHOMA CITY (OBV) – An Oklahoma Department of Commerce initiative is creating close to 1,000 jobs across Oklahoma.
The Department of Commerce received 266 applications for its 2025 Oklahoma Innovation Expansion Program (OIEP).
Commerce officials approved projects at 201 companies. Those projects are expected to create 967 jobs and generate $52 million in new payroll over the next year.
“A lot of people don’t realize that 70% of our incentives go toward existing Oklahoma companies,” said Evan Brown, Executive Director of Oklahoma Office of Economic Development, Growth and Expansion (OkEDGE). “We want to invest in companies that invest in our state. Since its launch in 2020 by Governor Stitt, OIEP has been a wildly successful program, encouraging new capital investment from companies, supporting existing jobs and creating thousands of new ones.”
Awards range from as low as $25,000 to as much as $150,000.
OIEP supports high-impact new capital investment across multiple industries in an effort to diversify Oklahoma’s economy and facilitate new product development or increased capacity within companies.
Businesses that participated in OIEP in 2024 have already created 551 new jobs and generated over $250 million in new sales, according to Commerce officials.
Projects approved for 2025 represent $82 million in capital investment across 64 Oklahoma communities. They are projected to have a $278 million economic impact.
The awarded funds primarily went to small business, such as the family-owned Tomcat Aviation LLC in Midwest City, which will use the funds for new equipment and construction projects. Tomcat Aviation specializes in jet engine component repair.
“Oklahoma Commerce comes through with financial support to help small businesses, it’s a great day to be in Oklahoma,” said John Coates, President of Tomcat Aviation LLC. “This award allows us to invest in a new piece of machinery that will increase our current capacity, which means we will also need to hire additional workers.”
The Commerce Department’s website has a full list of the 2025 award recipients.
