WEEKLY UPDATE      June 15th, 2007

SUMMER VACATION...NOT! ...things remained in high gear this week with PCDA "refining" several proposal points to companies interested in expansion or relocation here. Company X and PCDA danced until we found each other's bottom line, (that was Wednesday) now we have to see if they are compatible. Company Y choose option B from a PCDA proposal on Wednesday as well, so now we get down to the real negotiations. Company Z called and said they really liked certain parts of the proposal they received but didn't like others…could they please have the best of both worlds??? In addition, thanks to CME for siccing us on an out of state company looking for a new home, (Thursday). TRUSTEES GREEN LIGHT THE GREEN ...yesterday's PCDA Board meeting featured the approval of the fiscal 2007-2008 budget, workplan and marketing plan. This gives the organization direction on where to allocate resources. In general, the largest category in the budget remains in the incentives area as PCDA is working with several, (more than three, less than ten) companies on potential expansions and relocations. These folks want a nice place to do business, (re: buildings) and a workforce. PCDA continues to work with Pioneer Tech and the OESC on the workforce angle while using the incentives to try and take care of the building question. No one is given a building or a grant and all agreements are based upon job count and wages paid with clawbacks or performance based measures. The incentives line item, is followed by marketing, operations and capital outlay as the largest expense items. THANKS TO GREG AND DOUG ...The PCDA board bid a thankful farewell to Greg Neisen of Precision T&D, and Doug Major of Pioneer Tech, (PTC), two Trustees with terms expiring at the end of June. Replacing these two irreplaceable gentlemen will be our new best friends, Jeff Meyers from ConocoPhillips and Dennis Ruttman from PTC. Both were appointed by an astute and visionary City Commission on Monday night. PCDA thanks Greg whatisname, and the other guy from Pioneer Tech and welcomes Jeff Meyers and Dennis Ruttman. GO WEST AND ALL THAT ...according to a recent article in the Wall Street Journal, (so it must be true), California, along with several other coastal states, are experiencing what is known as negative domestic migration. In English, that means more people are leaving California to go to the other 49 states than are coming to California from the other 49. California continues to grow thanks to births and immigration but the point is that many previously happy Californians are becoming disillusioned with the Golden State and are looking for other locations. Many of these people own or control companies and many of their employees would be happy to leave with them. PCDA will be in California next week for a meeting with a specific company that has expressed a strong interest in bailing out, as well as with site consultants who help guide those corporate souls seeking nirvana, (aka Ponca City). UPCOMING.... Sun. June 16-Wed. June 20th: California business recruitment mission Ponca City Development Authority 102 S. Fifth Street, Ste. 3, Ponca City, OK 74601 580.765.7070/580.765.0969-fax Or E-Mail - David Myers CEcD - Executive Director Visit Ponca City Development's Latest News Archives © www.goponca.com - Ponca City Development Authority - Ponca City, Oklahoma