Progrexion to open OKC officePublished: Friday, May 20, 2016 By: Molly M. Fleming
OKLAHOMA CITY – A Utah-based credit repair company is bringing 500 jobs to the city, filling office space on W. Reno Avenue.
Progrexion renovated 50,000 square feet at the OKC Works building and plans to add another 400 people in the next five years, said Celeste Edmunds, a company spokeswoman. The company is one of several that are hiring people in the city.
This is Progrexion’s eighth new location in the last seven years. It also has offices in Idaho and Arizona. Edmunds said it had several markets it evaluated before choosing the city for its next site.
“This is a sizable win,” said Kurt Foreman, executive vice president of economic development for the Greater Oklahoma City Chamber. “It’s another great opportunity with a company that’s fast-growing and well-regarded. They want to be the kind of employers that people want to work for.”
He said Oklahoma City beat out Albuquerque, New Mexico, as Progrexion’s next site. The Oklahoma City Economic Development Trust approved $600,000 in general obligation limited tax bond proceeds for Progrexion at its Wednesday meeting. Edmunds said incentives like the one from the city and the state helped with its decision. She said the city culture and environment aided the company’s decision as well.
“We have a really great relationship with the state department of economic development,” she said.
The Greater Oklahoma City Chamber has been working with Progrexion since July 2015. The economic development trust estimates the company’s financial impact is more than $78 million over the first three-year period.
The estimated wage for these jobs is $33,288. City of Oklahoma City Economic Development Manager Brent Bryant said the economic development office has previously been criticized for recruiting jobs that are high-paying and can require high qualifications, such as Boeing searching for engineers.
“These (Progrexion jobs) are good-paying jobs,” he said. “We try to support the development of jobs that help people of all wages.”
The GOLT bonds were approved by voters in 2007. Since then, the city has issued $64.5 million, with 11,000 jobs anticipated.
Other companies still hiring that have received GOLT bonds include Boeing and Paycom.
Boeing spokesman Benjamin Davis said as of April 28, the aerospace company has 2,465 employees in Oklahoma. He said it anticipates reaching its 3,000 goal by year-end.
The new 290,000-square-foot building at the campus is near completion. He said lab equipment will be moved in June. The building is housing the design and test laboratories for aircraft such as C-17 Globemaster III, B-2 bomber and Airborne Warning and Control System plane.
Paycom is constructing a third building at its campus. In 2015, the company has added 377 jobs.
Corporate Communications Manager Jason Bodin said the company couldn’t release figures as to how many people it’s hired in accordance with its March 2015 plan for 423 jobs. Its GOLT bonds from the city are for $1.2 million.