Oklahoma City considers incentive for English oil-field equipment company
Oklahoma City is considering providing an English oil-field equipment company a $200,000 incentive to bring up to 100 jobs to the city. Centek, which makes wellbore casing parts, plans to build a plant that would employ 60 to 100 people with an average first-year salary of about $42,000.
Oklahoma City is considering $200,000 in incentives to close a deal with an English oil-field equipment company expected to have a $2.6 million local payroll by 2016.
The Oklahoma City Economic Development Trust meets Tuesday and is expected to recommend the city council approve the incentive for Centek, an English company that makes wellbore casing parts. The company plans to open a manufacturing plant near SW 36 and MacArthur Boulevard.
Centek is expected to bring 60 to 100 jobs to the city over the next few years, Cathy O'Connor, chairman of the trust and president of the Alliance for Economic Development of Oklahoma City, wrote in a trust memo. In the company's first year here, the average salary is expected to be about $42,000.
Centek was attracted to Oklahoma City because of its deep ties to the energy industry and proximity to companies that would buy its goods, said Brent Bryant, the city's economic development project manager.
“With a lot of their work going to Oklahoma and Texas, it was an awesome place for them to move,” Bryant said.
The city would pay the money after Centek locates here and creates the jobs, O'Connor said. The money would come from a $75 million incentive fund included in the city's 2007 general obligation bond
“It's designed to provide incentive to companies who are making a decision to locate in Oklahoma City. They have to be choosing Oklahoma City over another location, typically,” O'Connor said.