OIEP Projects Approved in Ponca City

Approved Ponca City projects for the Oklahoma Innovation Expansion Program (OIEP) were announced earlier this month. Four companies were accepted into the program for employee tax funding projects for new equipment and construction in the amount of $380,365.00 One of the applicants was bumped up to a bigger program and received $200,000 for their project. The total funding of $580,365.00 will result in an economic impact of $1.9 million for Ponca City. This program is open to Oklahoma companies with a payroll of at least $625,000 per year, for-profit and ready to invest a minimum of $50,000 in their facility every April.  Read more about the program and see the complete list of projects for the state at  https://www.okcommerce.gov/oiep/.

The selected Ponca City companies must spend at least 10% of the project budget by September 30th, 2025 whether on equipment or expansions to create new capabilities, revenues or new jobs.  

The four companies with qualifying OIEP projects are:

CPM Acquisition Corp (CPM/Bliss)     $150,000
Greenwood Group, Inc    $ 74,865
K&C Manufacturing Inc   $ 35,500
Stolhand Wells Group     $120,000
    
Larger project approval went to Century Products for $200,000. 

This is a great Oklahoma Department of Commerce Program designed to assist small business grow, diversify and add jobs in Oklahoma communities.  If your Ponca City company has questions or would like more information on these types of incentive programs, please do not hesitate to contact Laurence Beliel at 580.765.7070.