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Legislature allocates $250 million from PREP fund to fuel economic development throughout rural Oklahoma

OKLAHOMA CITY – The Oklahoma Legislature has approved a slate of bills entailing a major investment in workforce and economic development throughout the state funding infrastructure improvements at industrial parks, aeronautics facilities, and the state fairgrounds as well as to increase Oklahoma’s presence with international trading partners.

During the 2022 legislative session, $250 million was allocated to the Progressing Rural Economic Prosperity Fund (PREP). Those funds were allocated through the appropriations process and approved by the Legislature on Thursday in special session. 

After vetting by the Joint Committee on Pandemic Relief Funding and its working groups, the Legislature also approved an additional $52.25 million in American Rescue Plan Act (ARPA) funding that will be used for these projects based on the federal guidelines.

Senate Appropriations Vice Chair Chuck Hall explained lawmakers want to make rural communities more competitive for attracting well-paying jobs.

“The PREP projects will be transformational for rural communities and a boon for economic development,” said Hall, R-Perry. “By building out the infrastructure, or making improvements to existing structures, we will attract more investments, which means jobs and prosperity for Oklahomans.”

The funds will help industrial parks and aeronautics facilities, such as air parks, modernize and expand infrastructure, including water systems and broadband, which are vitally needed to attract greater economic development opportunities that will ultimately benefit the entire state. 

"The main thing we hear from businesses considering investment in Oklahoma is that they want an educated workforce and infrastructure that can support their investment," said House Speaker Pro Tempore Kyle Hilbert, R-Bristow. "The PREP projects address these critical needs, and more, as we lay the groundwork for the exciting new jobs of tomorrow. We always say Oklahoma is open for business, and these PREP funds will ensure that is the case both now and in the future."

Department of Commerce Executive Director Brent Kisling predicted the PREP investments would successfully boost economic development in rural Oklahoma.

“The Oklahoma Department of Commerce is supportive of the Legislature’s decision to support infrastructure investment for rural economic development,” Kisling said. “These efforts will undoubtedly attract both business and workforce that will bring investment and long-term prosperity for rural Oklahomans.”

-END-

For more information, contact: Sen. Chuck Hall, 405-521-5628 or Chuck.Hall@oksenate.gov

Rep. Kyle Hilbert, 405-557-7353 or Kyle.Hilbert@okhouse.gov

 

Project

Location

 Amount 

Source

Ada Industrial Park 

Ada

 $      7,500,000 

ARPA

Ada Industrial Park 

Ada

 $      2,500,000 

PREP

Altus Industrial Air Park

Altus

 $      4,000,000 

ARPA

Altus Industrial Air Park

Altus

 $      4,000,000 

PREP

Ardmore Taxiways and Runways

Ardmore

 $   22,350,000 

PREP

Ardmore Intermodal Project (Rail)

Ardmore

 $   25,000,000 

PREP

Ardmore Airport Water Needs

Ardmore

 $   17,100,000 

ARPA

Atoka Heavy Industrial Park

Atoka

 $      3,000,000 

PREP

Avard Regional Rail Park

Avard (Alva)

 $   15,000,000 

ARPA

Avard Regional Rail Park

Avard (Alva)

 $      5,000,000 

PREP

Sunset Manufacturing Center

Bartlesville

 $      1,000,000 

ARPA

Sunset Manufacturing Center

Bartlesville

 $         450,000 

PREP

Oklahoma Space Industry Development Authority

Burns Flat

 $      4,250,000 

ARPA

Oklahoma Space Industry Development Authority

Burns Flat

 $   22,500,000 

PREP

Oklahoma Space Industry Development Authority - Aeronautics

Burns Flat

 $      5,000,000 

PREP

Claremore Industrial Park

Claremore

 $      5,000,000 

PREP

Eastland Industrial Park, Northland Industrial Park, and South Industrial Park

Duncan

 $      1,400,000 

ARPA

Eastland Industrial Park, Northland Industrial Park, and South Industrial Park

Duncan

 $      1,000,000 

PREP

Steven W. Taylor Industrial Park

McAlester

 $      3,000,000 

PREP

Southside Industrial Park and John T. Griffin Industrial Park

Muskogee

 $      2,000,000 

ARPA

Southside Industrial Park and John T. Griffin Industrial Park

Muskogee

 $      1,250,000 

PREP

Will Rogers Airport Hanger

OKC

 $   20,000,000 

PREP

Oklahoma State Fairgrounds

OKC

 $   20,000,000 

PREP

Okmulgee Business Complex Industrial Park & Okmulgee Airport

Okmulgee

 $      2,000,000 

PREP

Catoosa Intermodal

Rogers County

 $   19,000,000 

PREP

Statewide Hanger Program

Statewide

 $   14,000,000 

PREP

Flight Subsidization

Statewide

 $      4,000,000 

PREP

International Trade

Statewide

 $      1,000,000 

PREP

Other Industrial Parks or Economic Development Areas

Statewide

 $   29,950,000 

PREP

Tulsa International Airport Tower

Tulsa

 $   20,000,000 

PREP

Woodward Air Park 

Woodward

 $   20,000,000 

PREP