The Pooled Finance Act program provides up-front debt financing to help pay for plant expansions and equipment purchases. The debts are paid off by diverting company employee income tax withholding payments for periods ranging from four to 15 years.
So far, 17 companies are approved for receiving more than $89 million. Most data in the table was obtained in March 2015.
Click on a column heading to re-order the table.
|Company||Facility Location||Project Purpose||Date||Funds Provided||Retained Jobs||Est. New Jobs**|
|AdvancePierre Foods||Enid||Upgrades, renovations||June 2013||$3,000,000||778||100|
|Anchor Glass Container Corp.||Henryetta||Furnace rebricking||March 2015||$2,000,000||328||24|
|Berry Plastics Corp.||McAlester||Equipment||February 2013||$950,000||192||25|
|Bullet Energy Services LLC||Velma||Expansion||October 2014||$1,000,000||55||40|
|Goodyear Tire & Rubber Co. Inc.||Lawton||Expansion, equipment||October 2010||$20,000,000||2,400||75|
|Hitachi Computer Products (America) Inc.||Norman||Warehouse||May 2010||$15,000,000||300||75|
|International Paper*||Valliant||Modernization||December 2014||$12,000,000||317||49|
|L-3 Aeromet||Tulsa||Hangar, office improvements||December 2012||$3,800,000||125||110|
|Lufthansa Technik Component Services||Tulsa||Expansion, consolidation||January 2013||$3,000,000||66||51|
|Michelin North America Inc.||Ardmore||Equipment, upgrades||February 2013||$10,000,000||1900||20|
|Newell Coach Corp.||Miami||Expansion, consolidation||February 2014||$1,000,000||163||20|
|Orchids Paper Products Co.||Pryor||Modernizaton, new production line||September 2014||$3,500,000||320||7|
|Process Manufacturing Co Inc.||Tulsa||Paint, assembly, testing facilities||February 2012||$3,900,000||89||160|
|PT Coupling Co.||Enid||Foundry, expansion, upgrades||February 2012||$1,500,000||263||20|
|Temtrol LLC||Okarche||Expansion, upgrades||January 2013||$2,500,000||313||80|
|Vallourec Star LP||Muskogee||Expansion, upgrades||June 2013||$2,000,000||194||25|
|Whirlpool Corp.||Tulsa||Modernization, new production line||March 2014||$4,000,000||856||150|
**Job figures for AdvancePierre, international Paper and Michelin are those contained in original Commerce Department evaluations and determination letters.
*International Paper received two financings, $8 million in 2012 and $4 million 2014. They were consolidated into a single debt package with a remaining principal balance of $9.5 million.
Sources: Oklahoma Commerce Department, Oklahoma Development Finance Authority, Oklahoma Office of Management and Enterprise Services.