CHICKASHA, Okla. (OBV) – A multibillion dollar industrial park and power generation initiative will be the largest private investment in Chickasha history.
Gov. Kevin Stitt and Chickasha leaders recently unveiled plans to develop an industrial park in the city that is expected to bring in lucrative industries, potentially produce thousands of jobs and inject approximately $3.5 billion into the local economy.
“This is a transformative moment for Chickasha and for the State of Oklahoma,” Stitt said. “Oklahoma is open for business, and the proof is right here in Chickasha. With this industrial park and innovative energy partnership, we are creating the infrastructure and environment to continue to attract businesses here and signaling to the world that Oklahoma is the best state for business.”
The groundbreaking development was announced last week, along with another a major energy initiative in Chickasha and the ceremonial signing of a significant bill that enables private power generation behind the meter, according to state officials.
Chickasha-based entrepreneur Chet Hitt is leading the development. Stitt appointed Hitt to the University of Science and Arts of Oklahoma’s board of regents in April. Hitt owns numerous buildings in Chickasha as well as a California distillery and an Arizona resort, according to the University of Science & Arts of Oklahoma.
Hitt expects big things for Chickasha from the new development.
“This announcement marked the beginning of a new chapter for Chickasha,” Hitt said. “It’s a step that will bring opportunity, growth and future prosperity to our community.”
The investment will have a major impact on Chickasha, according to Jim Cowan, President of the Chickasha Chamber of Commerce and Director of the Economic Development Council.
“This investment sets Chickasha apart and establishes us as a national destination for business and innovation,” he said.
A joint venture between Citizen Capital and Lightfield Energy in Chickasha was also announced. Citizen Capital’s Executive Chairman Bond Payne and Lightfield Energy Founder Billy Sorenson are spearheading the partnership, which is anticipated to produce innovative, behind-the-meter power generation solutions to meet the energy needs of high-load industries such as data centers, critical minerals processing and advanced manufacturing.
“Oklahoma continues to lead the US in energy independence by combining its all-of-the-above energy policy with pioneering behind-the-meter power solutions,” Payne said. “Our partnership with Lightfield Energy represents a strategic investment for national security, critical supply chains, energy independence and economic development.”
Scalable energy solutions are essential to data infrastructure, according to Sorenson.
“This joint venture is about creating scalable energy solutions that will rapidly support the data infrastructure of the future and ensure America’s standing as both technology and energy leader,” Sorenson said.
Stitt and Rep. Brad Boles, R-Marlow, participated in a ceremonial signing of Senate Bill 480.
SB 480 allows certain companies and individuals that produce power on their own premises to avoid being regulated as a public utility.
Boles co-authored the bill. He said the new law will generate more industrial investment in Oklahoma.
“SB 480 is landmark legislation that unlocks billions in private investment and positions Oklahoma as a hub for future industries,” Boles said.
