Duncan businesses provide tour of grounds for program grant

July 28, 2023

By Tamara Gregor The Duncan Banner

Representatives with Oklahoma Department of Commerce, Oklahoma Finance Authorities, along with Rep. Marcus McEntire, Sen. Jessica Garvin and President and CEO for DAEDF Lyle Roggow walked though Valco Manufacturing and Sensia, LLC on Thursday afternoon.

Two Oklahoma Innovation Expansion Program (OIEP) recipients were subject to a company tour of their businesses in Duncan this week.

Representatives with Oklahoma Department of Commerce, Oklahoma Finance Authorities, along with Rep. Marcus McEntire, Sen. Jessica Garvin and President and CEO for Duncan Area Economic Development Foundation (DAEDF) Lyle Roggow walked though Valco Manufacturing and Sensia, LLC on Thursday afternoon to see all they are working on at their respective facilities.

First on the tour stop for Duncan was Valco Manufacturing Company where representatives met with Roger Valdez, president and owner. Valdez introduced his company and what projects they are looking to add.

Valdez said they’ve been in the area for around 30 years and they are an aerospace defense supplier of metal products, and supply products to almost all of the military airplanes and helicopters that fly.

Valdez said they have 33 employees company-wide and they are a small business and a Disabled Veteran hub zone.

He said they were recently approved for a grant from the OIEP grant program.

“We had been approved, qualified for a grant to help expand for new equipment that we need to keep us more competitive and get more work in the marketplace,” he said.

Valdez said they are extremely appreciative for the program.

Director of Research and Economic Analysis for Oklahoma Department of Commerce Jon Chiappe said through the OIEP program, they have partners with the Oklahoma Finance Authorities and the Oklahoma Tax Commission.

He said the program is intended to provide awards of $25,000 to $150,000 to companies that show they are innovating, diversifying or entering a new market to help to purchase a piece of equipment or expand jobs to help achieve goals.

“It’s a program that’s intended solely for existing companies in the State of Oklahoma,” he said. “We have companies in the panhandle, all the way to Southeast Oklahoma, Southwest Oklahoma.”

Over the past year, Chiappe said they’ve awarded $13 million to companies.

“With those awards they are planning total capital investment of $90 million,” he said. “So, they have to have their own funds when they’re participating in the program.”

Chiappe said this helps the companies extend what they are doing and do something they wouldn’t typically do.

Oklahoma Financial Authority President and CEO Michael Davis said after visiting two other companies, they stopped at Valco and Sensia in Duncan.

Davis said they are proud to work with the Department of Commerce to run the annual incentive program.

“These companies do amazing things with it,” he said. “It helps retain the workforce, create new jobs, create new capabilities.”

Davis said this is the fourth year they’ve done the program and its been one of the largest they’ve had with 178 companies participating.

According to Davis, as an annual program, they have an open application period beginning in April to mid-April.

Sensia Engineering Manager Lane Barby said he submitted for the incentive plan with a goal to purchase an automated CNC machine, so they could get back some business from overseas.

Barby said at Sensia, they manufacture measurement equipment for the oil and gas industry and they employ around 85 people.

Roggow said it’s great to help businesses such as Sensia and Valco and to reinvest back into what they’ve added to the community.

“This program adds a major, major piece of equipment to these businesses in different ways,” Roggow said.

According to Roggow, because of this investment, the businesses can hire more people or become more efficient.

Roggow said it’s was a good thing to get to host these company tours and their guests were able to see assets Duncan, DAEDF, the citizens and taxpayers have invested in to.

“I think that’s always exciting,” he said.