Oklahoma Governor Kevin Stitt congratulated the City of Durant for being awarded an Economic Development Administration (EDA) grant of $1.5 million to fund wastewater infrastructure improvements needed to support economic growth.
“This EDA grant will help Durant continue to attract new economic opportunities,” said Oklahoma Governor Kevin Stitt. “I applaud Durant for taking proactive steps to improve the city’s infrastructure which will undoubtedly further them in the pursuit of attracting new businesses, providing increased job opportunities for Oklahomans living in the region.”
“I know how important this waste water treatment facility project is for the long-term economic stability of Durant and the southeast Oklahoma region,” said Senator James Lankford (R-OK). “Durant remains a leader in our state for creating jobs, welcoming new businesses, and promoting innovation. I look forward to Durant’s continued prosperity and attention to longterm infrastructure issues that might hurt the community or hinder growth. I offer my congratulations to the city on your hard work and diligence toward success through the federal grant process.”
“The Tax Cuts and Jobs Act continues to deliver unparalleled economic benefits and record job growth by providing new opportunities for investment in rural America,” said Congressman Markwayne Mullin. “This infrastructure improvement project will bring vital jobs and resources to Southeastern Oklahoma. I am proud to be a part of moving this record-breaking economy forward and ensuring hardworking Americans are the ones reaping the benefits.”
The project will reside in two Opportunity Zone census tracts and will result in the increased water capacity needed to help local businesses expand and attract new private investment to the region. To further the likelihood for investment, Oklahoma has established Priority Enterprise Zones (PEZs) which allow investors to layer other state and local incentives over the defined benefits of Federal Opportunity Zones. Some of these additional incentives include Investment Tax Credit, Enterprise Zone Incentive Leverage Act, Oklahoma Small Business Linked Deposit Act and Tax Increment Financing (TIF).
This project was made possible by the regional planning efforts led by the Southern Oklahoma Development Authority. EDA funds the Southern Oklahoma Development Authority to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.