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Oklahoma Innovation Expansion Program

Award Announcements

On April 27, the Oklahoma Department of Commerce (Commerce) opened applications for the Oklahoma Innovation Expansion Program (OIEP). Applications closed on Friday, May 7. During the application period, Commerce received 137 submissions requesting $24.7 million for projects. Of those applications, 108 projects received awards ranging from $25,000 to $150,000 with the total awards funding reaching $7.74 million. The funding will facilitate $49.6 million in projects. These companies plan to create 680 jobs with a total payroll of $28.5 million.

CompanyCity
Advanced Machining & Fabricating, Inc.Owasso
Advantage Controls, LLCMuskogee
Advantage Terrafab, LLCMuskogee
Airgo Systems, LLC dba Drov TechnologiesOklahoma City
Amethyst Research IncorporatedArdmore
ASC, Inc.Tulsa
Baity Screw Machine Products, LLCChickasha
Bakery BlingOklahoma City
BankOnIT, LLCOklahoma City
Bauman Machine, Inc.Oklahoma City
Bluestem Integrated, LLCTulsa
Bridge Crane Specialists, LLCBeggs
Broce Manufacturing CoFairview
Cameron Glass (CamGlass)Broken Arrow
Candid Color SystemsOklahoma City
CaptiveAire SystemsMuskogee
Century, LLCMidwest City
Champagne Metals, LLCGlenpool
CMP CorporationOklahoma City
CNI Manufacturing, LLCMarietta
Cosmetic Specialty Labs, Inc.Lawton
Custom Mechanical Equipment, Inc.Ponca City
Design Ready Controls, Inc.Oklahoma City
Downing Manufacturing, Inc.Tulsa
Duncan Machine Products, Inc.Duncan
Dvorak Instruments, Inc.Tulsa
E & I Sales, Co.Tulsa
EDGE ProductionsNorman
EHC, Inc dba KECOOklahoma City
Enterprise Grain Company, LLCKremlin
Fammco Mfg. Co., Inc.Tulsa
Fiber Pad, Inc.Tulsa
Flex-Ability ConceptsOklahoma City
Gavco Plastics, Inc.Broken Arrow
Global Production Solutions, LLCShawnee
Green Country Aircraft Exhaust, Inc., a/k/a Green Country AircraftTulsa
Ground Zero Shelters, Co.Perry
Haus Bioceuticals, Inc.Oklahoma City
HomeWetBarOklahoma City
Infinite Composites, Inc.Tulsa
Innovative Original Solutions, LLCMuskogee
Janeway Machine, Inc.Sapulpa
Jetta CorporationEdmond
KiZE Concepts, Inc.Oklahoma City
L6 Inc. dba Total Valve SystemsBroken ARrow
Layco Electronic Innovations Corp.Tulsa
Lee C. Moore, A Woolslayer CompanyCatoosa
Lippe Federal, LLC (dba Federal Corporation)Oklahoma City
Mar-K Specialized Manufacturing, Inc.OKC
Maxcess Americas, Inc. (dba Fife)Oklahoma City
McClarin PlasticsOklahoma City
Midwest Cooling Towers, Inc.Chickasha
Midwest Hose & Specialty, Inc.Oklahoma City
Molded Products, Inc.Broken Arrow
MST Manufacturing, LLCClaremore
MTM Recognition CorporationOklahoma City
NewView OklahomaOklahoma City
NXTNano, LLCClaremore
Oilfield Equipment & Manufacturing, Inc./Scorpion Pump & IndustrialShawnee
Oklahoma Pediatric Therapy CenterYukon
Oklahoma Screen Mfg. (dba Precision Screen Mfg.)Oologah
Oklahoma Tire RecyclersBristow
Pallet Logistics of America, LLCOklahoma City
Paragon Films, Inc.Broken Arrow
Park Dental Research CorporationArdmore
Pelco Products, Inc.Edmond
Pelco Structural, LLCClaremore
Plantation Investments, LLC (dba Stroud Safety)Oklahoma city
Platinum Arch Manufacturing and ConstructionStillwater
Premium Beef Feeders, LLCLone Wolf
Pro-Fab, LLCOklahoma
Progressive Stamping and FabricationOklahoma City
Pulsebac Vacuum Systems, LLCTulsa
Radial Engines Ltd.Guthrie
Rajon, LLCBristow
Reg Oklahoma Acquisition, LLC (dba SSI Technologies)Edmond
RightWay Mfg. Solutions, LLCDuncan
RL Hudson & CompanyBroken Arrow
Royal Filter Mfg. Co.Chickasha
S&T Mfg. Co., Inc.Tulsa
Schwab & Company Inc.Oklahoma City
Selco, LLCTulsa
Skulls Unlimited International, Inc.Oklahoma City
Southern Sheet Metal Works, Inc.Tulsa
Southwest Filter CompanyTulsa
Southwood Landscape & Nursery Co., Inc.Tulsa
SportChassis Holdings, Inc.Clinton
SWEPTulsa
Tactical Electronics & Military Supply, LLCBroken Arrow
Teal Jones LumberAntlers
The Jameson Group, LLCOklahoma City
The Morrison Group, Inc.Edmond
The Shutter Mill, Inc.Stillwater
THG Energy Solutions, LLCTulsa
TPE MidstreamTulsa
Tristar Glass, Inc.Catoosa
True Sky Credit UnionOklahoma City
United Contracting Services, Inc.Tulsa
Vacuworx Global, LLCTulsa
Valley Electric Services, LLCMcAlester
Value Added ProductsAlva
ViaCore NutritionEl Reno
Victory Energy Operations, LLCCollinsville
Vox Printing, LLCOklahoma City
Waggoners MechanicalNorman
Wilspec Technologies, Inc.Oklahoma City

NOTICE: The application period has now closed. Visit our Incentives page for other programs.

In April 2021, Governor Kevin Stitt announced the launch of the Oklahoma Innovation Expansion Program (OIEP), making $10 million in funding available to qualifying manufacturers across the state. Based on the success of the Oklahoma Bounce Back Assistance Program in 2020, OIEP was developed to support high-impact new capital investment across a broad range of industries to help diversify the state’s economy, lead to new product development or increase capacity at Oklahoma’s existing companies. In addition to encouraging new capital investment, these awards support existing jobs and the creation of new jobs. The program is administered by the Oklahoma Department of Commerce (Commerce) and the Oklahoma Development Finance Authority (ODFA).

Financial Incentive for Your Diversification, Expansion or Development

This incentive makes monthly cash payment awards in the form of payroll tax rebates to help companies grow and offset the cost of capital expenditures incurred through business expansion investments in Oklahoma.

  • Lower the cost of a capital project
  • Improve return on investment
  • Increase the scope of a planned expansion
  • Enhance ability to finance a project

Program Eligibility

For a business to be eligible for consideration into the program they must meet all of the following requirements:

  • Must be a “for-profit” business entity;
  • The Project facility must be located in Oklahoma and the project requires a minimum capital expenditure of at least $50,000;
  • Must currently have a minimum payroll at the project facility of at least $625,000 per year;
  • Funds cannot have been spent toward the new project prior to the Company having received an award letter recommending approval of the new project from the Oklahoma Department of Commerce;
  • The new project must either be an innovative project, a project that shortens or strengthens the supply chain for the product being manufactured, or it must be a project designed to target new markets;
  • The business must not be participating in any of the Oklahoma Quality Jobs Act Programs and cannot take  Investment Tax Credits while in the program;
  • The Project must meet all other eligibility requirements for participation in the Oklahoma Economic Development Pooled Finance Act set forth in 68O.S. §891.1 et. seq.;
  • Businesses selected for participation in the program must spend at least 10% of the estimated project costs within ninety (90) days of executing a funding agreement with the Oklahoma Development Finance Authority
  • Only projects where the net benefit rate of the project is sufficient to sustain a $25,000 award or greater shall be eligible for participation in the program.
  • Business must meet all eligibility requirements and follow all program rules as set forth in the Oklahoma Innovation Expansion Program Rules document and as set forth in the Oklahoma Economic Development Pooled Finance Act

Program Details

Award Amounts

The maximum award amount for OIEP is $150,000 and will vary depending on the potential positive impact on Oklahoma’s economy.

Reporting Requirements

Participating businesses will be required to:

  • Provide quarterly reports verifying employment levels and expenditures.
  • Submit verification of purchase and installation of machinery and equipment.

Program Rules

Read the complete rules for program participation prior to applying.

Agreement for Potential Participation

Companies must download and sign the Agreement for Potential Participation and then upload a copy when applying.

Program FAQs

Frequently asked questions about the program will be posted here as they are developed.

Generally, companies participating in the OIEP must have an existing or projected payroll of $625,000 in order to participate, in addition to other requirements. Refer to the program rules for complete details.

A qualifying capital expenditure, as the term is used in the program, refers to money spent on the purchase of depreciable assets such as equipment, fixtures, machinery or improvements to property made by the business entity toward the new project. They do not include additional employee costs related to the new project, such as increased salary, wages or fringe benefits.

In filling out the Application, an applicant will want to be prepared to discuss or provide the following:

  • Company FEI number
  • Company NAICS code
  • If company remits withholding taxes through a third party, such as a PEO, and the identity of the third party
  • Most current fiscal year sales figures
  • Total Budget for new project
  • How much of the budget the company will contribute to the new project
  • A narrative description of the project
  • Number of persons currently employed by the company within Oklahoma
  • Average annual wage of current jobs in Oklahoma
  • Total current yearly payroll for the company in Oklahoma
  • Number of jobs to be created by the new project in Oklahoma
  • Average annual wage of the new jobs created by the project
  • Timeline for new job creation
  • Whether or not the company will create a qualifying health plan for new or existing jobs
  • Timeline for the new project
  • Whether or not the award would lead to diversification, new capabilities or expanded capabilities
  • A description as to how the award would lead to diversification, new capabilities or expanded capabilities
  • A completed copy of the Agreement for Potential Participation

No. Due to the inherent mobility of vehicles, a project based on the acquisition of vehicles does not create a sufficient benefit to the state for an award under the program.

Questions

For assistance, contact the Regional Development Specialist (RDS) who serves your region.

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