Governor Kevin Stitt today joined the Oklahoma Department of Commerce (Commerce) in announcing the first 24 companies that have signed contracts as participants in the Oklahoma Manufacturing Reboot Program. Launched on April 10, the program was created to address the negative effects COVID-19 has had on Oklahoma businesses, specifically manufacturers.
“Oklahoma businesses across the state have stepped up in response to this historic pandemic and developed innovative ways to support their communities, and now it is our turn to give back,” said Gov. Stitt. “The Oklahoma Manufacturing Reboot Program will help meet a critical need for Oklahoma companies, while also creating more job opportunities for Oklahomans during this difficult time.”
The list of companies can be found here. The list will be updated as additional contracts are finalized.
“Manufacturing is key to the survival and growth of any community and to any state. Governor Stitt and the team at the Oklahoma Department of Commerce recognized a need and found a way to help solve it,” said Kenneth Statton, President & CEO, MST Manufacturing. “MST is privileged to qualify for this Reboot program and we are already well on our way to exceeding the expectations. We are growing, hiring people and investing in the economic base of Oklahoma.”
The program utilizes $5 million from the Governor’s Quick Action Closing Fund to assist Oklahoma manufacturers as they retool to develop new products and/or expand current capabilities.
Following the announcement of the creation of the program, Boeing decided to forgo previously awarded funds of $1 million from the Governor’s Quick Action Closing Fund to make those moneys available for the new Manufacturing Reboot Program. Boeing, which has operations located throughout Oklahoma, determined that these funds could be better served to help small businesses in the state work through this pandemic.
“Boeing is committed to supporting our community and small businesses with COVID-19 recovery and relief efforts,” said Nancy Anderson, Boeing vice president of Aircraft Modernization and Modification. “Forgoing this $1 million payment in favor of redistribution to the community and small businesses is one way we can help our community partners and Oklahoma remain strong.”
Oklahoma manufacturing companies with NAICS codes 311111-339999 with projects that are a net benefit to the state were eligible to apply. Priority was given to companies producing products for the healthcare industry such as medical devices, personal protection equipment or pharmaceuticals.
“The projects submitted by these Oklahoma companies were impressive and will help spur our economy and the manufacturing industry forward,” said Sean Kouplen, Oklahoma Secretary of Commerce & Workforce Development. “With one-third of these projects focused on keeping our healthcare providers safe, we are also increasing our preparedness as we recover from the COVID-19 crisis.”
Awarded funds can be used for purchase of machinery, purchase of CAD/CAM equipment or software, payroll and/or training for new and/or existing employees. Participating businesses will be required to provide quarterly reports verifying employment levels and expenditures.