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catch22
03-16-2023, 03:20 PM
I think it would have to be a state-run port or state-subsidized. Would be a huge economic development tool to have in their back pocket.

Hobby Lobby's drayage costs alone from Ft Worth have to be massive. I wonder how many international containers they import every week that arrive by train in Ft Worth and are trucked up to OKC. Oklahoma City is large enough now to have premium intermodal options even if it is a somewhat smaller operation, you'd think.

fortpatches
03-16-2023, 03:46 PM
For waterway shipping, just for comparison, Tulsa Ports (Catoosa and Inola) have shipped a total of 89mil tons since 1971 (now ~4.4mil/yr). This is the only Oklahoma port in the top 150, it is ranked 81 by tonnage.
Houston port authority, has shipped a total of ~276mil tons in 2020 alone.

Blythwood, SC is like ~100 mi to the Port of Charleston, which ships ~25mil tons/yr.

Plutonic Panda
03-16-2023, 04:22 PM
I believe a major consideration is the utility rate power that is available in this area. Clearly not enough to get over the hump, but I think it's a pretty big reason companies are considering the area.
Ah yes good point here. I didn’t think about that.

Plutonic Panda
03-16-2023, 04:25 PM
Yesterday I went to an ASCE luncheon where one of the officials from MidAmerican was speaking. I was surprised that much of his presentation was about all the neighborhoods they are building around the park (outside of it, well away from potential major industrial sites). They have apparently built a little commercial district and already have some local restaurants and such that have moved in. They are building northwards into Pryor with a bunch of mixed use areas and have a focus on creating solid quality of life with trail systems, green spaces, and commercial amenities so that people will actually want to live out there. There are plans for hundreds of homes, and many are already under construction.

He also said a major factor in the VW decision was the lack of an intermodal facility to take material off of trains efficiently. Without it, you have to send trains to KC or Dallas and truck them to Pryor, which obviously greatly adds to shipping costs. That's what they meant when they talked about VW needing to be closer to the raw materials. There are plans for an intermodal facility at the park, but it will cost ~$100 million, so it isn't happening soon.
If the intermodal rail facility is only $100 million and the state is offering nearly a billion to lure these companies to build plants costing north of 2 billion why can’t the state just use some of the incentive money to build it? It seems worthwhile.

Just the facts
03-16-2023, 05:00 PM
If the intermodal rail facility is only $100 million and the state is offering nearly a billion to lure these companies to build plants costing north of 2 billion why can’t the state just use some of the incentive money to build it? It seems worthwhile.

Yeah, sometimes they can't see the forest for the trees. Instead of throwing money at private businesses just spend those dollars on infrastructure that will attract those types of industries. OKC tried to spend millions to land United - which went on to become MAPS 1.

April in the Plaza
03-16-2023, 05:49 PM
I do think the objectively terrible weather (like today’s) cannot help matters. Why locate a company here when you could be in Dallas or Florida?

Plutonic Panda
03-16-2023, 06:05 PM
I do think the objectively terrible weather (like today’s) cannot help matters. Why locate a company here when you could be in Dallas or Florida?
Then why does Chicago and Denver and Toronto have such massive industries? Upstate NY just landed a massive 100+ billion dollar facility.

April in the Plaza
03-16-2023, 06:25 PM
Then why does Chicago and Denver and Toronto have such massive industries? Upstate NY just landed a massive 100+ billion dollar facility.

Way prettier. Closer to mountains/oceans. And, in the case of Chicago, started to develop hundreds of years before OKC.

Dob Hooligan
03-16-2023, 06:36 PM
I do think the objectively terrible weather (like today’s) cannot help matters. Why locate a company here when you could be in Dallas or Florida?

Seems to me that Dallas gets the same weather, just 5-6 hours later. And the Florida hurricanes are way more destructive than any Oklahoma tornados.

catch22
03-16-2023, 06:40 PM
Unless their business involves outdoor processes or some other specific dynamic I don't think weather ranks very high on these lists.

Dob Hooligan
03-16-2023, 07:16 PM
Then why does Chicago and Denver and Toronto have such massive industries? Upstate NY just landed a massive 100+ billion dollar facility.

Except for Denver the answer is commercial waterways. Access to the Great Lakes, oceans and the Mississippi River have always been critical to business and industry.

chssooner
03-16-2023, 07:18 PM
Seems to me that Dallas gets the same weather, just 5-6 hours later. And the Florida hurricanes are way more destructive than any Oklahoma tornados.

And Texas does not have a better educated populace. They just have more people, and more money. Education in Texas sucks just as bad in Texas as it does here. But, if you have the same % of people with a quality education, just over 30 million people instead of 4 million, you have "more" educated people. Same with Florida. Heck, Florida rivals Oklahoma in terms of a governor who doesn't value education (and theirs might run for president).

Swake
03-16-2023, 07:28 PM
South Carolina has a bill under consideration right now, with 21 sponsors, to make abortion a crime subject to the death penalty for the doctor and the woman.

https://www.nbcnews.com/politics/politics-news/sc-republicans-propose-bill-subject-women-abortions-death-penalty-rcna75060

Our politics are not unique, or the most radical.

Bunty
03-16-2023, 08:39 PM
South Carolina has a bill under consideration right now, with 21 sponsors, to make abortion a crime subject to the death penalty for the doctor and the woman.

https://www.nbcnews.com/politics/politics-news/sc-republicans-propose-bill-subject-women-abortions-death-penalty-rcna75060

Our politics are not unique, or the most radical.

South Carolina has beaches, mountains and a fairly warm winter to counter any extremist political agenda. No wonder it has been adding on population faster than Oklahoma by around twice as fast.

Just the facts
03-16-2023, 09:01 PM
Are you people this miserable in real life, or just on the internet? Honest to goodness, if I hated where I lived as much as some of you appear to I would have moved years ago.

chssooner
03-16-2023, 09:23 PM
South Carolina has beaches, mountains and a fairly warm winter to counter any extremist political agenda. No wonder it has been adding on population faster than Oklahoma by around twice as fast.

So aa bunch of things Oklahoma can't control, you hold against it?

Granted, Oklahoma an control politics by actually voting (but straight party voting will NEVER go away, as long as our state government stays the way it is).

Rover
03-16-2023, 11:11 PM
And Texas does not have a better educated populace. They just have more people, and more money. Education in Texas sucks just as bad in Texas as it does here. But, if you have the same % of people with a quality education, just over 30 million people instead of 4 million, you have "more" educated people. Same with Florida. Heck, Florida rivals Oklahoma in terms of a governor who doesn't value education (and theirs might run for president).
By almost any measure the overall the Texas educational system ranks substantially higher than Oklahoma’s. This is even more true in higher education. You simply are wrong.

Plutonic Panda
03-16-2023, 11:29 PM
By almost any measure the overall the Texas educational system ranks substantially higher than Oklahoma’s. This is even more true in higher education. You simply are wrong.
UT has one of the best universities in the world.

chssooner
03-16-2023, 11:33 PM
By almost any measure the overall the Texas educational system ranks substantially higher than Oklahoma’s. This is even more true in higher education. You simply are wrong.

Not sure why you sounded so definitive, when you are wrong on the college rankings. Just the fact they are close proves you are wrong. The fact they are ahead in higher ed rankings proves I am not even close to "substantially" wrong! I am talking college and K-12. If Oklahoma improved their K-12 rankings even a little bit, they would be basically on par with Texas. But higher ed, Oklahoma is higher ranked.

https://www.usnews.com/news/best-states/rankings/education/higher-education

https://worldpopulationreview.com/state-rankings/most-educated-states

https://www.alecreportcard.org/state/

https://worldpopulationreview.com/state-rankings/best-states-for-education


I know you will bash away, given your proclivity to ad hominems.

chssooner
03-16-2023, 11:36 PM
UT has one of the best universities in the world.

See my links in my post. UT is great, but is also about all Texas has from a public college standpoint. And even then it is hard to compare that to most public colleges, given how much money they have from oil wells. But Oklahoma bats well above their average in higher ed rankings, especially compared to their crappy K-12 rankings.

Plutonic Panda
03-17-2023, 12:58 AM
See my links in my post. UT is great, but is also about all Texas has from a public college standpoint. And even then it is hard to compare that to most public colleges, given how much money they have from oil wells. But Oklahoma bats well above their average in higher ed rankings, especially compared to their crappy K-12 rankings.
Having a progressive city like Austin and the University it has is a massive asset to Texas. Oklahoma doesn’t have anything remotely close.

chssooner
03-17-2023, 01:23 AM
Having a progressive city like Austin and the University it has is a massive asset to Texas. Oklahoma doesn’t have anything remotely close.

Again, not arguing against that. Just saying that this facade that Texas has a better higher education system as a whole is just plain wrong. UT helps Austin a ton. Not gonna lie. But there isn't anything Oklahoma can do about that, and they spend pretty well on their higher Ed.

We are arguing 2 different things. There are no new colleges or universities starting up in this country. So OKC isn't going to get some major college. They can't change that Norman was chosen as the place to build the flagship university. They are growing their HSC campus in OKC, and the area around it.

Right now, Oklahoma is being punished by 23rd and Lincoln, and their decisions, especially constantly pushing Tulsa over OKC.

Scott5114
03-17-2023, 10:45 PM
Maybe it’s a bit too early but Winstar supports a large employment base so perhaps Panasonic could have been supported too.


When I worked for the Chickasaws, I knew more than one person who declined a transfer to WinStar because of the lack of housing in the Thackerville area. Houses hardly ever came up for sale there, and at the time nobody was building new ones (I don't know if this is still true today). A good number of WinStar employees live in the OKC or Dallas areas and make that long drive every day. Apparently if you're in a lucrative department like blackjack or poker, you still come out ahead, though.

BG918
03-18-2023, 12:10 AM
When I worked for the Chickasaws, I knew more than one person who declined a transfer to WinStar because of the lack of housing in the Thackerville area. Houses hardly ever came up for sale there, and at the time nobody was building new ones (I don't know if this is still true today). A good number of WinStar employees live in the OKC or Dallas areas and make that long drive every day. Apparently if you're in a lucrative department like blackjack or poker, you still come out ahead, though.

Interesting, I’ve always thought most people working there lived in Gainesville which is only 10 min south. Denton is 45 min and Ardmore is 30 min, those would likely be better options than OKC.

MAIP to Tulsa is 45 min, northern parts of Broken Arrow are closer to 35 min so it’s not that far from metro Tulsa but not a fun commute either. I wouldn’t mind living just east of Pryor near Lake Hudson, that’s a beautiful area. Grand Lake is also only 25 min away and just over an hour to Fayetteville.

Fair Oaks (which will also include housing) and the Port of Inola will certainly be more attractive from the standpoint of being closer to Tulsa. Lots of potential for multiple large manufacturing plants in those three areas along the future interstate corridor at Hwy 412

https://bloximages.newyork1.vip.townnews.com/tulsaworld.com/content/tncms/assets/v3/editorial/3/63/363d9a46-353c-11ed-a9c0-27099876c999/63248be048377.preview.jpg?crop=1586%2C833%2C0%2C27&resize=1200%2C630&order=crop%2Cresize

Bunty
03-18-2023, 01:12 AM
When I worked for the Chickasaws, I knew more than one person who declined a transfer to WinStar because of the lack of housing in the Thackerville area. Houses hardly ever came up for sale there, and at the time nobody was building new ones (I don't know if this is still true today). A good number of WinStar employees live in the OKC or Dallas areas and make that long drive every day. Apparently if you're in a lucrative department like blackjack or poker, you still come out ahead, though.

Very tiny Thackerville will never be a boom town since it actually lost population from 2010 to 2020. The bigger small towns in the area aren't very desirable places to live in, since the most they have to offer is a Walmart, Home Depot or Lowes. They all may be only small versions of the big metro versions.

LocoAko
03-28-2023, 05:47 PM
Not sure what to make of this, if anything. Panasonic making moves for a second battery plant here?

https://twitter.com/reesejgorman/status/1640741426337136640

Jake
03-28-2023, 07:36 PM
Not sure what to make of this, if anything. Panasonic making moves for a second battery plant here?

https://twitter.com/reesejgorman/status/1640741426337136640

Will be interesting to see how Oklahoma loses out yet again.

HangryHippo
03-28-2023, 11:20 PM
Will be interesting to see how Oklahoma loses out yet again.
Dayum, lol.

Jake
03-29-2023, 11:27 AM
https://www.readfrontier.org/stories/why-three-major-companies-have-passed-on-expanding-in-oklahoma/

Anonymous.
03-29-2023, 02:13 PM
https://www.readfrontier.org/stories/why-three-major-companies-have-passed-on-expanding-in-oklahoma/

"The Senate committee, made up of 10 Republicans and two Democrats, will meet for the first time Tuesday."

Yes, I can already see how this study will go. Let me guess, the argument will continue to be "but other conservative states land companies!". To which the response is, "yes it is called pros and cons." Everywhere has both, the goal should be to remove as many cons as possible.

Just the facts
03-29-2023, 02:20 PM
https://www.readfrontier.org/stories/why-three-major-companies-have-passed-on-expanding-in-oklahoma/

Maybe if the State and Local governments focused strictly on quality of life items we wouldn't have to bribe companies with corporate welfare. $700 million would be better spent on OKC to Tulsa rail than a battery plant

Just the facts
03-29-2023, 02:42 PM
Corporate welfare is a race to the bottom. Quality of life is a race to the top. If I was in charge banning corporate welfare would be a Day 1 item

https://thehill.com/opinion/finance/592681-heres-how-states-can-end-corporate-welfare/

Dob Hooligan
03-29-2023, 03:46 PM
Maybe if the State and Local governments focused strictly on quality of life items we wouldn't have to bribe companies with corporate welfare. $700 million would be better spent on OKC to Tulsa rail than a battery plant

I'm no fan of OKC to Tulsa rail. I would even say it is corporate welfare, IMO. Because it is a commercial enterprise that requires a subsidy, won't bring any more people to Oklahoma, or create permanent, high paying jobs.

ComeOnBenjals!
03-29-2023, 03:55 PM
I do think politics has a small part to play in this issue, but I don't think it's that important. Look at the tremendous amount of development and relocation to Texas.. they've got arguably more conservative policies than Oklahoma does.

FighttheGoodFight
03-29-2023, 04:03 PM
The thing I see the most from these reports is investing in our workforce. I think that starts with getting more students into higher ed, trade schools, community colleges, etc... Or you have to attract young talented people to move here for those jobs. I dont think we are going to convince young people to move here so lets start by getting a more skilled workforce.

Plutonic Panda
03-29-2023, 04:55 PM
Maybe if the State and Local governments focused strictly on quality of life items we wouldn't have to bribe companies with corporate welfare. $700 million would be better spent on OKC to Tulsa rail than a battery plant
This is the perfect time to do it as they are preparing to widen the I-44 corridor to 3 lanes each way between OKC and Tulsa. Start with the cheapest segments in this situation first beginning at the park and ride station in OKC at I-44/I-35 junction to a new park and ride station outside Sapulpa. That is a very realistic scenario and one that could be done cheaper by combining the highway widening contracts with the rail maintaining a speed for 220MPH which is modest compared to the new MagLev trains opening in China and Japan.

After that is built then we can focus on the best to extend each section in downtown transit centers in OKC and Tulsa. Oklahoma could easily be the first US state to have HSR but there is zero chance our legislature would support that. The Texas legislature is trying to sabotage the proposed Austin metro expansion.

Or use the funds to plan and build the nuclear power plants at Inola. Or build a marine highway to OKC to support an inland water port there so we have two water ports in the state. US-69 should be upgraded to a fully freeway to support future development in this area. Work with Texas to extend I-45 to Tulsa. So much that could be done. Get rid of the tolls on I-44. No foresight.

Plutonic Panda
03-29-2023, 04:58 PM
I'm no fan of OKC to Tulsa rail. I would even say it is corporate welfare, IMO. Because it is a commercial enterprise that requires a subsidy, won't bring any more people to Oklahoma, or create permanent, high paying jobs.
How do you figure this? We’re about the only major developed country in the entire world that doesn’t have HSR. It absolutely is a quality of life issue. Even Egypt is build a network of HSR. Using that logic than interstates are corporate welfare as well. Infrastructure is an investment that doesn’t need to turn an immediate profit. The profit comes from other ways rather than direct user fee return.

Plutonic Panda
03-29-2023, 04:59 PM
I do think politics has a small part to play in this issue, but I don't think it's that important. Look at the tremendous amount of development and relocation to Texas.. they've got arguably more conservative policies than Oklahoma does.
They have liberal Meccas like austin and even Dallas and Houston are considerably more blue than anywhere in Oklahoma. So are places like El Paso and San Antonio. Texas is much more purple than Oklahoma is.

dcsooner
03-29-2023, 05:04 PM
They have liberal Meccas like austin and even Dallas and Houston are considerably more blue than anywhere in Oklahoma. So are places like El Paso and San Antonio. Texas is much more purple than Oklahoma is.

Agree

chssooner
03-29-2023, 05:16 PM
They have liberal Meccas like austin and even Dallas and Houston are considerably more blue than anywhere in Oklahoma. So are places like El Paso and San Antonio. Texas is much more purple than Oklahoma is.

I don't know how to say this, but, state law supercedes city law. Look at the laws that state enacts. Some are worse than here. They just have money to throw at companies in amounts Oklahoma will never have.

Like, literally. Just look at the tax breaks they give out to get jobs. Austin is blessed in having UT there. Dallas has a ton of people. But they aren't passing Portland or San Fran-type laws. So liberal mecca seems VERY extreme.

Dob Hooligan
03-29-2023, 06:34 PM
How do you figure this? We’re about the only major developed country in the entire world that doesn’t have HSR. It absolutely is a quality of life issue. Even Egypt is build a network of HSR. Using that logic than interstates are corporate welfare as well. Infrastructure is an investment that doesn’t need to turn an immediate profit. The profit comes from other ways rather than direct user fee return.

I am not unsympathetic, but I think the Great Plains of the American West is so car-centric that a rail system of 100 miles will be seen as nothing more than an expensive toy. It will not realistically and effectively reduce private vehicle usage at a level to make a difference. Either symbolically or economically.

Plutonic Panda
03-29-2023, 07:17 PM
I am not unsympathetic, but I think the Great Plains of the American West is so car-centric that a rail system of 100 miles will be seen as nothing more than an expensive toy. It will not realistically and effectively reduce private vehicle usage at a level to make a difference. Either symbolically or economically.
It’s a start. You gotta start somewhere.

Scott5114
03-29-2023, 07:52 PM
I do think politics has a small part to play in this issue, but I don't think it's that important. Look at the tremendous amount of development and relocation to Texas.. they've got arguably more conservative policies than Oklahoma does.

I would say it's entirely possible that Texas might be growing even faster if they didn't have those policies.

In any event, I don't imagine a committee made up of 10 Republicans and 2 Democrats is likely to release a report saying our policies are too conservative, even if the CEOs of the companies that turned our offers down directly told them so.

Plutonic Panda
03-30-2023, 01:56 AM
KFOR article on our legislators trying to figure out why we’re being passed over: https://kfor.com/news/local/lawmakers-ask-why-large-companies-pass-over-oklahoma/

fortpatches
03-30-2023, 11:00 AM
I would say it's entirely possible that Texas might be growing even faster if they didn't have those policies.

In any event, I don't imagine a committee made up of 10 Republicans and 2 Democrats is likely to release a report saying our policies are too conservative, even if the CEOs of the companies that turned our offers down directly told them so.

Senate Pro Tem Treat seemed to at least acknowledge that the conservative policies around social issues is a factor when looking at Headquarters locations.

> After losing out on Volkswagen and Panasonic, critics have pointed at a number of issues.

Access to abortion and health care rights for trans youth have been a couple major legislative actions that some Oklahomans believe could be scaring away investment.


Senate Pro Tem Greg Treat, the organizer and potential chair of the select committee, did not buy those arguments.


“I think that’s a red herring. I don’t think it plays into as much as some people like to believe,” said Treat.


He said talking to the business community shed a new light on how those issues can become a factor.


“They actually told me it plays more of a factor when you’re talking about headquarters than manufacturing plants,” said the Pro Tem.

Midtowner
03-30-2023, 11:01 AM
I'm no fan of OKC to Tulsa rail. I would even say it is corporate welfare, IMO. Because it is a commercial enterprise that requires a subsidy, won't bring any more people to Oklahoma, or create permanent, high paying jobs.

This is kind of a silly attitude though--what's your metric for not supporting it? You won't support transit that isn't revenue-neutral? Okay, then any road which isn't a turnpike does not deserve our support by that metric.

These trains always bring with them a significant economic impact. I can't think of a rational argument for not supporting them.

Dob Hooligan
03-30-2023, 02:20 PM
This is kind of a silly attitude though--what's your metric for not supporting it? You won't support transit that isn't revenue-neutral? Okay, then any road which isn't a turnpike does not deserve our support by that metric.

These trains always bring with them a significant economic impact. I can't think of a rational argument for not supporting them.

I don't think the $700 million Panasonic Battery Plant incentive fund is going to be seen as a better use of taxpayer money if it is diverted to a railroad from OKC to Tulsa in any portion. Not to mention how the education and tax cut sectors will have their hands out immediately.

Naptown12713
04-01-2023, 09:55 PM
https://abcnews.go.com/amp/Business/wireStory/war-states-ev-chip-makers-lavished-subsidies-98287695

Excellent article regarding the use of Government Subsidies to lure potential economic development deals.

Just the facts
04-02-2023, 05:10 AM
It would be interesting to see the results from the 20 largest subsidies Oklahoma has provided. Did the taxpayers of Oklahoma get their money's worth?

On edit, I found this website.

https://subsidytracker.goodjobsfirst.org/hq_state/Oklahoma

mugofbeer
04-02-2023, 06:20 PM
I read this week where the city of Ft. Worth has granted American Airlines $200 million and is buying 27 acres of land for their new headquarters campus and the move of AAs One World Alliance from NYC to the AA HQ campus. They recognise the value and indirect tax revenues this facility provides as well as the prestige.

Bunty
04-02-2023, 06:47 PM
It would be interesting to see the results from the 20 largest subsidies Oklahoma has provided. Did the taxpayers of Oklahoma get their money's worth?

On edit, I found this website.

https://subsidytracker.goodjobsfirst.org/hq_state/Oklahoma

Many of them energy companies. With so many of them that were leaving Oklahoma for Houston and elsewhere, no wonder.

Bunty
04-02-2023, 07:33 PM
Senate Pro Tem Treat seemed to at least acknowledge that the conservative policies around social issues is a factor when looking at Headquarters locations.

> After losing out on Volkswagen and Panasonic, critics have pointed at a number of issues.

Access to abortion and health care rights for trans youth have been a couple major legislative actions that some Oklahomans believe could be scaring away investment.


Senate Pro Tem Greg Treat, the organizer and potential chair of the select committee, did not buy those arguments.


“I think that’s a red herring. I don’t think it plays into as much as some people like to believe,” said Treat.


He said talking to the business community shed a new light on how those issues can become a factor.


“They actually told me it plays more of a factor when you’re talking about headquarters than manufacturing plants,” said the Pro Tem.

Businesses with a global reach, who want to move their HQs, probably wouldn't pick Oklahoma, due to it not having a big airport that offers non-stop international destinations. So, that could be a factor in addition to politics. At least OKC is a short flight from one of the busiest airports in the country--DFW.

I don't see any of these far-right policies making my life any better. At least it seems that the ridiculous law to ban drag shows in public got shelved, though. Maybe OKC mayor told legislators to can it as it could adversely affect gay pride.

Once again, legislators need to focus on making life better for everybody. One way to do that is to eliminate state sales tax on groceries. I don't think that is radical, since most states don't tax food. If that was done, outsiders looking for a new state to move to could take the state more seriously.

Not brought up in the article but on Flashpoint is that Oklahoma seems to be used as leverage to get competing states to come up with more.

Plutonic Panda
04-07-2023, 01:20 AM
Panasonic deal V2: https://okcfox.com/newsletter-daily/panasonic-is-back-in-the-conversation-ahead-of-deadline-for-nearly-700m-state-incentive-volkswagen-governor-kevin-stitt-representative-jon-echols-okc-oklahoma-lawmakers-capitol-lead-act#

Pete
04-14-2023, 05:35 PM
Oklahoma signs deal for Panasonic battery plant in Pryor, but there's a catch (https://tulsaworld.com/news/local/govt-and-politics/article_1ab4f740-dae3-11ed-974f-6b31d097d0f6.html#main-page-container)
Apr 14, 2023 Updated 48 min ago 0

OKLAHOMA CITY — The state has inked a contract for Panasonic to open a massive electric vehicle battery plant at the MidAmerica Industrial Park in Pryor.

But a dispute over who will pay for roughly $245 million in site work at the industrial park means the agreement isn't a done deal yet.

After the Oklahoma House saw a copy of the agreement on Wednesday, Speaker Charles McCall, R-Atoka, said the deal does not meet the qualifications for Panasonic to be eligible for $698 million in economic development incentives.

The announcement of the state's agreement with Panasonic comes as the $698 million socked away in the Large-scale Economic Activity and Development — or LEAD — Act Fund is about to revert to the state's general revenue fund.

"The House reviewed the contract two days ago and notified the Department of Commerce, the Governor and Project Josie to inform them that it does not meet the criteria and give them an opportunity to correct it before the deadline," McCall said.

Previously dubbed Project Ocean, Project Josie is the new code name for the Panasonic deal.

In a news conference Friday, Stitt said the Oklahoma Legislature will be tasked with finding $245 million to cover the costs of site work and infrastructure improvements at the industrial park in Pryor as part of the deal. It's unclear whether the Legislature wants to appropriate an additional $245 million for the project.

McCall said the company must sign a contract "free of contingencies" in order to be eligible for LEAD Act funds. A spokesman for McCall said he thinks the agreement the Department of Commerce touted Friday is the same contract the House determined was insufficient days prior.

"It's the largest economic development (deal) in state history," Stitt said. He proposed using some of the state's $1.2 billion in surplus cash to cover the site work requested by Panasonic.

Earlier this year, Volkswagen considered building an electric vehicle battery plant in Pryor but opted to build in Canada instead.

Panasonic’s new Oklahoma facility would be in addition to its new Kansas battery plant. The company started eyeing Oklahoma last year, before selecting the neighboring state as the site for its next manufacturing plant.

“Project Ocean has never told us no,” Stitt said. “They always had a two-state strategy.”

Under the LEAD Act, which the Legislature revised this year after last year's offer to Panasonic was turned down, the company could qualify for $698 million in state incentives if it invests at least $3.6 billion in the plant and creates 3,500 new jobs within four years. Before the LEAD Act was revised, a 4,000 job minimum was required.

With the law's revision, the LEAD Act money is to revert to the state's general revenue fund on April 15 — Saturday — if the state doesn't have a binding economic development deal in place. If the money does get clawed back, that $698 million could still be used for economic development initiatives, legislative leaders said this week.

Department of Commerce spokeswoman Becky Samples said the agency is continuing discussions with Panasonic and will share more information as it becomes available. The agency did not make available a copy of the Panasonic contract.

chssooner
04-15-2023, 10:52 AM
Good news, and I believe it will al be worked out in the end.

But, giving a company an inch, and they turn around and ask for a foot? Who would have thought. I mean, Oklahoma should pay it, but there will be a lot more asks like this.

Richard at Remax
04-15-2023, 11:08 AM
$245 million for site work?!

Jersey Boss
04-15-2023, 11:26 AM
$245 million for site work?!

And for "watering some beaks"

catch22
04-15-2023, 12:39 PM
$245 million for site work?!

I thought the same thing. That’s an obscene amount of money for site work. Surely this was an error.

Dob Hooligan
04-15-2023, 02:09 PM
The Governor mentioned Day Care Centers and Fire Stations yesterday. Sounds like Panasonic wants us to build a town their workers would be willing to live in.

Just the facts
04-15-2023, 04:27 PM
I'm going to have to agree with the Democrat leadership in the House on this one. Panasonic was offered $700 million and that should be enough. In my opinion it is $700 million to much to begin with. For that much money Oklahoma should get a share of the profits.

How about spend $700 million on quality of life items to attract Humans then you don't have to bribe companies.