Oklahoman
As Oklahoma continues its march out of the economically disastrous COVID-19 pandemic, the state Department of Commerce is setting aside $10 million for existing manufacturers to spur investment and innovation.
The Oklahoma Innovation Expansion Program is designed to support high-impact, new capital investment across a broad range of industries to help diversify the state’s economy, lead to new product development and increase capacity, the department said. I think this is one of the most innovative programs that we have come up with at the Department of Commerce to assist our legacy companies here in Oklahoma, said Executive Director Brent Kisling. And that s really been our theme for this year, coming out of pandemic, is taking care of our own. They re the ones that stayed strong all the way through and kept our citizens employed, and we want to help them to continue to grow.
Oklahoma to Use $10 Million to Boost Investment, Innovation The state Department of Commerce will allocate funds to support existing manufacturers’ projects that are innovative, bolster a product’s supply chain or target new markets, in an effort to diversify the state’s economy. Dale Denwalt, The Oklahoman | April 9, 2021 | News
(TNS) As Oklahoma continues its march out of the economically disastrous COVID-19 pandemic, the state Department of Commerce is setting aside $10 million for existing manufacturers to spur investment and innovation.
The Oklahoma Innovation Expansion Program is designed to support high-impact, new capital investment across a broad range of industries to help diversify the state s economy, lead to new product development and increase capacity, the department said.
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Gov. Kevin Stitt announced the upcoming launch of the Oklahoma Innovation Expansion Program, which will make $10 million in funding available to qualifying manufacturers across the state.
OIEP was developed to support high-impact new capital investment across a broad range of industries to help diversify the stateâs economy, lead to new product development or increase capacity at Oklahomaâs existing companies.
In addition to encouraging new capital investment, these awards will support existing jobs and the creation of new jobs. The program will be administered by the Oklahoma Department of Commerce and the Oklahoma Development Finance Authority.