OKLAHOMA CITY (KFOR) – Governor Kevin Stitt says he is trying to lure billions more in electric car business to the state.
He is asking the Oklahoma State legislature to help him with laws that would increase tax breaks for mega companies.
The Governor has already extended tax incentives to Canoo, an electric car company to build a manufacturing facilities in NE Oklahoma. Now he says he is close to beating out other states for a deal that could bring as many as 70,000 direct and indirect jobs to the state but he needs the legislatures help to do it.
“We have the opportunity to land one of the largest factories in the entire country just a humongus, humongus factory with billions of dollars in investment, thousands and thousands of jobs.” Said Governor Kevin Stitt.
That’s why the Governor says he is asking the state legislature to pass new laws to increase financial incentive for “mega” companies bringing manufacturing facilities to Oklahoma specifically in the electric vehicle industry.
“Now is the time to go after it. Tens of billions of dollars are going to be invested over the next 5 to 7 years in this space, and we want Oklahoma to be the spot that these folks land.” Said Stitt.
The Governor would not name the company or companies involved but he says the state is in negotiations to bring a multi-billion dollar manufacturing facility to Northeast Oklahoma. Sources telling KFOR the facility would involve Panasonic and Canoo.
“Imagine if you were in the aerospace industry and you had the ability to bring in Tinker AFB or to bring in an American Airlines base to Tulsa, knowing what that supply chain is going to look like long term. You would want to do anything you could to bring that in.” said Brent Kisling of the Oklahoma Department of Commerce.
The Governor is asking lawmakers to pass new legislation that would increase the tax rebate for quality jobs and bump up the rate for the investment tax credit program. He said state surpluses would be used to pay out those rebates.
“If we can land some of these major, major companies and these major manufacturing facilities, it will have generational impact on the state of Oklahoma.” Said Stitt.
Lawmakers hearing the new bills in committee this afternoon.. Those we talked to are in favor of bringing in more jobs and business to the state, especially in cutting edge industries but they say they need to see exactly how the deal would work.
“My beef here is with the level of transparency that does not exist. Details, the devil is in the details.” Said Rep. Forrest Bennett of Oklahoma City.
HB4455 passed thru Senate and House Joint Appropriations Committees today. 16-5 in the Senate and 27-3 in the House.. It now moves to each chamber’s floor for approval.