Governor of Oklahoma seeks massive incentives to seduce the company

Oklahoma City (AP) β€” Oklahoma Governor Kevin Stitt told state legislators Monday on a large monetary basis, including using state reserves to help attract an unnamed company to the state. Asked to approve the package of incentives.

First-term Republicans said the nondisclosure agreement prohibits them from naming the company or outlining the total cost of the package. But he hinted that the incentives are aimed at companies related to the electric vehicle industry.

β€œIn the next five to seven years, we plan to invest tens of billions of dollars in this area. We want to make Oklahoma a landing place for these people,” says Stitt.

He says the unnamed company plans to build one of the country’s largest manufacturing facilities, “a huge factory with billions of dollars worth of investment, thousands and thousands of jobs.” rice field.

NHK, Japan Broadcasting, quoting an unknown source, Report last month Panasonic was considering both Kansas and Texas as potential sites for factories to manufacture batteries for electric vehicles for Tesla and other automakers. Kansas earlier this year Approved more than $ 1 billion state incentives in the hope of attracting $ 4 billion projects.

Panasonic did not immediately respond to the message left for comment on Monday.

A Bill announced on Monday In the afternoon, the Joint Budget Committee approved a rebate of up to $ 700 million with state funding. This could be paid to companies that have reached certain benchmarks, including capital spending of at least $ 4.5 billion and the creation of up to 4,000 new jobs within the first four times. The year of the project.

Oklahoma is reportedly running for a new Tesla assembly plant near Tulsa, CEO Elon Musk visits the cityBut the company finally Selected Austin,Texas. After the competition to land the Texas plant, Oklahoma has launched a new effort to seduce the automotive industry into the state.

Stitt wants to expand the state’s quality employment law. It provides eligible companies with quarterly cash payments of up to 5% of new salaries for up to 10 years and payments of up to 7.5% for major projects.

Stitt also wants to raise the cap on another investment tax credit package that provides tax credits to manufacturers based on their investment in real estate or the addition of employees from 2% to 3%.

Speaker of the House Charles McCall and Senator Pro Tempoa Greg Treat both showed support for Stitt’s proposal.

Democrat Emily Virgin said Secretary of Commerce Stitt Muller explained the general elements of the plan but hesitated to provide her support without further information.

“The governor hasn’t told us about the bill, and it’s very worrisome that he asks us to help with something without giving us the bill number or language,” Virgin, D- Norman said.