Duncan Area Businesses Awarded Over $460,000 for Growth and Development

June 20, 2024

DAEDF hosts a luncheon for area employers to learn more about the OIEP program from Jeremy Stoner with ODFA.

Oklahoma's commitment to its local businesses shines through once again with over $14 million awarded through the Oklahoma Investment Expansion Program (OIEP). The Duncan area is proud to announce its 2024 recipients, Valco, Southern Machine Works, Inc., and National Oilwell Varco (Wilco), who will collectively receive $282,400 in OIEP funds.

This critical financial support will fuel the companies' growth and development, solidifying their presence within the Duncan community. As outlined by the Oklahoma Department of Commerce, the OIEP program targets high-impact new capital investments across various industries, fostering economic diversification and propelling product development or capacity expansion within Oklahoma's existing businesses. Learn more about OIEP at www.okcommerce.gov.

In March, DAEDF hosted a luncheon for local businesses to learn more about the Oklahoma Innovation Expansion Program (OIEP). Jeremy Stoner with the Oklahoma Development Finance Authority (ODFA) came to Duncan and shared details and how to apply.

"We are incredibly grateful for the unwavering support of the Oklahoma Department of Commerce, Oklahoma Development Finance Authority, Oklahoma Tax Commission, and Oklahoma Manufacturing Alliance in administering and providing support to this vital program," said Lyle Roggow, President and CEO of the Duncan Area Economic Development Foundation (DAEDF). "These funds will empower our local businesses to thrive and create a lasting impact on the Duncan economy."

Beyond the OIEP awards, DAEDF is thrilled to also share that Think Ability Inc. has been awarded $180,000 through the Oklahoma Development Finance Authority Community Economic Development Pooled Finance Act's Business Expansion Incentive Program (BEIP). This additional funding further strengthens the growth and success of Duncan's diverse business landscape.

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