Three Central Oklahoma companies project they will create a combined 404 new jobs with the aid of incentives worth up to $7.2 million from the state's Quality Jobs Program.
Houston-based, oil-field equipment manufacturer Forum Energy Technologies Inc. has been approved to receive the largest chunk of incentive money for creating up to 218 new jobs at its 45,000-square-foot plant in Guthrie. Forum can receive up to $3.5 million in job creation incentives over the next 10 years. Forum also has manufacturing facilities in Elmore City and Chickasha.
Centek Inc., an oil-field manufacturing company based in southwestern England, also has qualified for Quality Jobs funds of up to $2 million for creating 104 jobs at its new Oklahoma City plant. Centek manufactures well casing stabilizers for the oil and gas industry. The company also has struck an agreement worth up to $200,000 in job creation incentives with Oklahoma City through the city's $75 million Strategic Investment Program.
Oklahoma City-based Empirical Loss Management LLC, an insurance claims administration service startup, has qualified for $2.2 million in Quality Jobs Program funding to create 82 new jobs in the city.
The company administers claims for the insurance industry.
The Oklahoma Commerce Department oversees the Quality Jobs Program, which gives companies quarterly cash payments to locate and expand in the state. The payments are based on payroll numbers and companies can receive payments for up to 10 years. Most companies must maintain a taxable payroll of at least $2.5 million for four consecutive quarters during the first four years of the program to qualify for the job incentives.
Oklahoma has inked more than 650 job creation deals with new, relocating or expanding companies since the Quality Jobs Program began in 1993. The program has paid out more than $725 million in wage rebates since its inception.