Oklahoma manufacturers get a boost from new $10 million incentive programPublished: Friday, April 9, 2021 By: Dale Denwalt Source: NewsOK
As Oklahoma continues its march out of the economically disastrous COVID-19 pandemic, the state Department of Commerce is setting aside $10 million for existing manufacturers to spur investment and innovation.
The Oklahoma Innovation Expansion Program is designed 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 and increase capacity, the department said.
"I think this is one of the most innovative programs that we have come up with at the Department of Commerce to assist our legacy companies here in Oklahoma," said Executive Director Brent Kisling. "And that's really been our theme for this year, coming out of pandemic, is taking care of our own. They're the ones that stayed strong all the way through and kept our citizens employed, and we want to help them to continue to grow."