For Immediate Release: March 8, 2007
Senator Randy Bass
Senate Approves Economic Development Bill for Military Communities/Tire
Manufacturers
State Sen. Randy
Bass has won approval from the full Senate on a bill to
help growing military communities meet infrastructure needs.
Senate Bill 751 would also extend the deadline originally approved
in a 2002 bill designed to help two of the state’s largest
tire manufacturing facilities, Goodyear and Michelin. Bass,
D-Lawton, said both provisions were important to Oklahoma’s
economy.
“Oklahoma’s military instillations have a $6 billion
impact on our economy. We are going to see significant growth
in our military communities as a result of the last round of
federal Base Realignment and Closure (BRAC) hearings—but
with that growth comes increased infrastructure needs, including
new schools and other facilities. Senate Bill 751 will help
meet those needs,” Bass said. “Not only that, but
it will help us be prepared for the next round of BRAC hearings
which are only three years away. Losing even one of these installations
would be devastating. By preparing now, we can prevent that.”
SB 751 contains language creating the “Military Base Protection
and Expansion Incentive Act.” The bill would authorize
the Oklahoma Development Finance Authority to provide funding
for capital projects in the form of loans and lease purchase
agreements if a school or municipality certifies that it has
the ability to repay those funds.
The bill also contains language pertaining to a 2002 bill to
assist the state’s tire manufacturers. The original legislation
allowed those manufacturers to receive state funds in connection
with the retooling or modernizing of their facilities. Both
Goodyear, located in Lawton, and Michelin, which is in Ardmore,
took advantage of the program. Bass said the resulting projects
are approximately 90 percent complete. SB 751 will enable those
entities to get an extension in the event more time is needed
to meet the requirements established in the 2002 legislation.
“As public policy makers, it is important to pass legislation
that will help protect the jobs we have here in Oklahoma, as
well as promote job growth,” Bass said. “This legislation
will accomplish that goal.”
SB 751 now moves to the House for committee action.
For more information contact:
Senator Bass' Office - (405) 521-5567
