Eight companies in Ponca City have been selected to receive state funding through the “Oklahoma Innovation Expansion Program (OIEP),” the Oklahoma Department of Commerce recently announced. This placed Ponca City third in the state (tied with Broken Arrow) behind only Oklahoma City and Tulsa for the number of companies that were approved for the program.

The OIEP was developed by the Department of Commerce in 2021 in order to encourage existing Oklahoma companies to expand or change their process in ways that lead to job creation in the state. The program worked so well that the state has made it an annual program.

Between April 1 and 14 of this year, applications were open for companies already in Oklahoma to apply for funding in amounts ranging from $25,000 to $150,000. In 2023, the state allocated $15 million for the program. Businesses applying to receive a portion of this funding were required to match state funding and to document their plans for expansion or new innovations. The companies were selected by state officials based upon their economic impact, most notably new job creation.

According to the Department of Commerce website, the local companies selected were Centerline, CSE Bliss, Custom Mechanical Equipment, Head Country, Heather Cannon Honda, K&C Manufacturing, MJ&H Fabrication, and Rick Scott Construction. The program awards ranged between $25,000 to $115,000.

Across the state, only Oklahoma City and Tulsa had more successful applicants. Broken Arrow, with a population almost five times the size of Ponca City, also had eight companies selected.

“We congratulate the selected companies,” said David Myers, Executive Director of the Ponca City Development Authority. “We thank our partners at Pioneer Technology Center, the Oklahoma Finance Authority and the Department of Commerce for helping us get the word out and work with our local companies to bring these dollars back to Ponca City.”

Myers pointed out that the eight successful awards represent a return of more than $18 per resident in tax money to Ponca City, by far the largest per capita return of any city in the state including the metro areas.

This was not the first year that the community has ranked high in successful applicants. Last year, Ponca City also came in third behind only Oklahoma City and Tulsa in the total number of successful companies. Last year’s per capita return of over $4.50 also led all cities in the state.

“Getting new money to flow into the community is a big part of economic development,” said Myers, “It couldn’t happen without our great innovative companies who write the paychecks, adapt to changing opportunities and grow our economy everyday.”

For more information on Ponca City Development Authority (PCDA) programs and business support, please visit GoPonca.com or call the PCDA office at 580.765.7070.