Gov. Stitt approves revised incentive package to lure major company

The governor stressed that although the Oklahoma Legislature had prefunded the new economic development incentive, no company would receive any money unless it made progress on building a new facility and hiring employees.

Stitt’s bill-signing ceremony took place mere hours after the Oklahoma House gave final passage to the legislation in a 77-13 vote. Some Republicans opposed the bill.

House Appropriations Committee Chairman Kevin Wallace, R-Wellston, quickly moved for a vote on the bill without time for debate after Rep. Tom Gann, R-Inola, unsuccessfully sought to delay the vote until Monday.

Gann said lawmakers should have more details about the proposed economic development project before being asked to approve incentives for an unnamed company. The lawmaker, who represents Pryor, said his constituents are concerned about the strain a global manufacturer could have on the local housing and labor markets.

“I’m trying to slow the process down to have people be able to listen to my constituents,” he said. “They want economic development. They really do. They have another plan that says: ‘We want smaller growth; we want it incrementally; and we want to be able to develop over time.’”

Senate Pro Tem Greg Treat, R-Oklahoma City, said the estimated economic impact of Project Connect would be higher than that of Project Ocean, the codename for the state’s attempt to land Panasonic.

Lawmakers have said Project Connect would come with a $5 billion capital investment and full-time jobs that would pay, on average, about $75,000 annually.

“I think we’ve put ourselves in a really good position to potentially land it,” Treat said. “If we do, it’ll be tremendous for the state of Oklahoma.”

The changes to the LEAD Act took effect immediately upon Stitt’s signature of SB 1176 because the bill included an emergency clause. This is the first bill Stitt has signed this session.