Financial company eliminates city's bid

By Paul Monies
The Oklahoman

Washington Mutual Inc. has bypassed Oklahoma City and selected sites in Texas as finalists for a regional operations center, company officials said Wednesday.
Texas Gov. Rick Perry also said the financial services company would be eligible for $15 million from the Texas Enterprise Fund in exchange for creating up to 4,200 jobs in the next seven years.

Oklahoma City had been a possibility for the sales and service center along with San Antonio and a location in the Dallas-Fort Worth area.

Washington Mutual spokesman Joe Arbona said Wednesday the company was leaning toward San Antonio. City and county officials there approved tax and job-training incentives last week. Washington Mutual is considering former MCI office space in San Antonio, he said.

"We had signed a letter of intent on a property there that we're taking a closer look at," Arbona said. "But we have not made a final decision on an actual city."

Officials with the Greater Oklahoma City Chamber of Commerce said Washington Mutual told them the city would be a strong contender for future company facilities.

"In our debrief with Washington Mutual, they let us know that the Oklahoma City package was extremely competitive," said Robin Roberts, executive vice president for economic development. "In fact, we exceeded their expectations in several categories. Unfortunately, they already have an office in Texas, and the availability of an existing facility allowed them to ramp up more quickly."

Roberts said the city's package included help from the state's Quality Jobs program, which offers quarterly cash rebates of up to 5 percent of payroll for job creation. The program has paid out almost $386 million since 1994, according to the Oklahoma Tax Commission.

Perry's office administers the Texas Enterprise Fund, a "closing fund" of almost $295 million for job grants and economic incentives. The fund was established in 2003. Critics have called it a giant slush fund, but Perry said the money has lured projects that are expected to bring 28,000 jobs to Texas.

Seattle-based Washington Mutual, which offers services from banking to insurance, is the nation's largest savings and loan association.