The Oklahoma Department of Commerce (Commerce) in partnership with the Oklahoma Development Finance Authority (ODFA), announced today that five recipients will receive grant awards for the Business Expansion Incentive Program (BEIP) and P3 Pooled Finance Program (P3). The awards represent over $405 million in capital investments to the state with an anticipated creation of 365 jobs and nearly $40 million in annual payroll.
BEIP assists Oklahoma companies in making major capital investments in depreciable items like machinery, equipment and buildings while the P3 program facilitates local infrastructure development where there is also a benefit to for-profit companies.
The following entities were awarded funds through BEIP and P3:
American Airlines
Berry Global Group, Inc.
City of Fredrick
City of Lawton
Oklahoma Custom Coating, LLC (Ecoat.us)
“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.”
American Airlines was awarded $22 million for the company’s planned infrastructure improvements and expansion to its existing facilities in Tulsa. These funds will allow American Airlines to continue making a multi-million dollar capital investment in ongoing improvements to the company’s Tulsa location and allow for the creation of over 300 additional 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.”
Commerce awarded Berry Global, a leading manufacturer in healthcare, hygiene and specialty products, $700,000 from the BEIP Program for the company’s planned infrastructure expansion and installation of a state-of-the-art printing press within its existing facility in McAlester. This expansion will allow Berry Global to make a $17.7 million capital investment 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.”
Oklahoma Custom Coating, located in Seminole, received $450,000 to renovate existing facilities to establish their headquarters in Oklahoma, as well as purchase new paint equipment for operations. This award will allow the company to make a $5.4 million capital investment the company for improvements and the anticipated creation of 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 was awarded $1.8 million to assist in the construction of a new hospital to serve the residents of Fredrick 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 awarded $9.6 million on behalf of FISTA Innovation Park. FISTA is a highly specialized facility that supports aerospace and defense as well as STEM education programs and also serves as 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!”
