OKLAHOMA CITY (KFOR) – Several Oklahoma companies have signed contracts for a program that addresses the negative effects of the COVID-19 pandemic on Oklahoma manufacturers.
Twenty-four companies signed contracts to participate in the Oklahoma Manufacturing Reboot Program, which was launched on April 10, an Oklahoma Department of Commerce news release states.
“Oklahoma businesses across the state have stepped up in response to this historic pandemic and developed innovative ways to support their communities, and now it is our turn to give back,” said Gov. Stitt. “The Oklahoma Manufacturing Reboot Program will help meet a critical need for Oklahoma companies, while also creating more job opportunities for Oklahomans during this difficult time.”
Gov. Kevin Stitt and the Oklahoma Department of Commerce announced the signings on Friday. Click here for the full list of companies.
The program uses $5 million from the Governor’s Quick Action Closing Fund to help Oklahoma manufacturers as they retool to develop new products and/or expand their current capabilities.
Awarded funds can be used to purchase machinery, CAD/CAM equipment or software, payroll and/or training for new and/or existing employees. Participating businesses are required to provide quarterly reports that verify employment levels and expenditures.
“Manufacturing is key to the survival and growth of any community and to any state. Governor Stitt and the team at the Oklahoma Department of Commerce recognized a need and found a way to help solve it,” said Kenneth Statton, President & CEO, MST Manufacturing. “MST is privileged to qualify for this Reboot program and we are already well on our way to exceeding the expectations. We are growing, hiring people and investing in the economic base of Oklahoma.”
Manufacturing companies in the state with NAICS codes 311111-339999 with projects that are a net benefit to the state were eligible to apply. Companies that produce health care products, such as medical devices, personal protection equipment or pharmaceuticals, were given priority.
Boeing, which has operation facilities in Oklahoma, chose to forgo the $1 million funds the company was previously awarded from the Governor’s Quick Action Closing Fund; they did so to make the money available for the new Manufacturing Reboot Program, according to the news release.
Boeing officials felt the funds would better serve small businesses in Oklahoma during the pandemic.
“Boeing is committed to supporting our community and small businesses with COVID-19 recovery and relief efforts,” said Nancy Anderson, Boeing vice president of Aircraft Modernization and Modification. “Forgoing this $1 million payment in favor of redistribution to the community and small businesses is one way we can help our community partners and Oklahoma remain strong.”