ENID, Okla. — Six Enid area businesses together received nearly half a million dollars in state money for manufacturing and job expansion plans.
Enid businesses Wako LLC, Parrish Enterprises Ltd. and No Man’s Land Foods LLC, along with Broce Manufacturing Co. of Fairview, Sidwell Seed of Kremlin, and ViaCore Nutrition of Kingfisher were awarded a total of $444,000 in state grants, said Stan Ralstin, northwest region development specialist for the Oklahoma State Department of Commerce.
The Oklahoma Innovation Expansion Program will fund the businesses’ short-term projects with a one-year timeframe, the department announced Tuesday.
With this incentive, the six companies would invest $2,449,570 in their businesses, Ralstin later said Friday. This investment, along with the OIEP funding, would create 46 new jobs with a new annual payroll of $1,598,892, he added.
Gov. Kevin Stitt an nounced the program in April 2021. Initially launched during the COVID-19 pandemic to assist with purchasing PPE or making new products, the program has become annual, Ralstin said.
“The OIEP program is one of our most successful and popular programs,” he said. “The little bit of assistance from the state spurs investment to create jobs and payroll. This incentive, as with all others from ODOC, are a net positive benefit to the state.”
The program makes available $10 million in funding each year to qualifying manufacturers in Oklahoma, administered by ODOC, the Oklahoma Development Finance Authority and the Oklahoma Tax Commission.
This year, 125 projects received a total $9.3 million across the state, with the most located in Tulsa, at 24, and another 23 projects in Oklahoma City.
This funding is projected to facilitate $58 million more in projects, creating 767 jobs and a total payroll of $35.4 million, according to ODOC.
“Every $1 in OIEP funding is leveraging $5.28 in private sector funds to complete projects, creating a great return on investment for the state while providing Oklahoma companies with a unique opportunity to diversify their operations,” ODOC Executive Director Brent Kisling said in a news release.
To qualify for the grant, the business’ facility must be located in Oklahoma, and the project requires a minimum capital expenditure of at least $50,000. The business also must currently have a minimum payroll at the project facility of at least $625,000 per year.
The new project must either be an innovative project — which shortens or strengthens the supply chain for the product being manufactured — or be a project designed to target new markets.
The business must also not be participating in any of the Oklahoma Quality Jobs Act programs and cannot take state Investment Tax Credits while in the program.