A global tech company plans to make the MidAmerica Industrial Park in Pryor its new North American headquarters.
The company will invest on 100 acres there and will purchase electricity from the Grand River Dam Authority.
The firm will make the announcement official at two news conferences Wednesday: at 10 a.m. at the state Capitol in Oklahoma City and at 2:30 p.m. at the industrial park.
Gov. Kevin Stitt, other state officials and David Stewart, who heads the park, are expected to speak at the news conferences, officials said.
Officials declined to name the company but said it wasn’t related to the huge firm Oklahoma Gov. Kevin Stitt said last month he was trying to lure to the state.
Wednesday’s announcement will continue the MidAmerica Industrial Park’s economic momentum.
Electric vehicle start-up Canoo last year announced plans to build a “mega microfactory” for its pickup and multipurpose delivery vehicles at the Mayes County park.
That investment is listed as $482.6 million and is scheduled to create 1,500 jobs in Pryor, according to records from the Oklahoma Department of Commerce.
TIFs are economic tools used to promote economic development. They allow governmental entities to use a portion of property taxes generated within the district to invest in the district’s infrastructure, providing an incentive for private investment.
Stewart projected that private investment in the TIF, if approved, would be $5 billion to $6 billion over the first five years of the TIF, which is capped by state statute at 25 years.
The MidAmerica Industrial Park originated as a U.S. government site that developed black powder during World War II. It now encompasses 9,000 acres and supports about 80 companies, including search engine giant Google.
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