Oklahoma governor taps 'closing fund' to lure GE

Oklahoma Gov. Mary Fallin, for the first time, used $3 million from a special “closing fund” to strike a deal with General Electric Co.
Published: April 3, 2013
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$3M from ‘closing fund' helps lure company

For the first time, Gov. Mary Fallin is using money from a special “closing fund” to sway a company's decision to bring jobs to Oklahoma.

Fallin said Wednesday the fund helped close a deal with General Electric to bring a global research center to Oklahoma, focusing on technological advancements for the oil and natural gas industry.

“It's a great example of what can be done when we have the tools to compete,” she said.

GE will receive $3 million from the governor's closing fund, which was created in 2011.

A spokesman for Fallin said the fund contains $6.7 million but she asked for an additional $5 million in her executive budget this year.


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