i2E Looking To Invest And GrowOKC
OKC ponders partnership with i2E to help fund smaller businesses
By Brianna Bailey Published: July 23, 2013
Oklahoma City is considering partnering with the local nonprofit i2E Inc. to offer financing for smaller, but growing local companies with a new program called GrowOKC.
Under GrowOKC, Oklahoma City would match a $1 million contribution from i2E to create a $2 million fund. The program would provide up to $250,000 for growing smaller businesses in the city.
Oklahoma City’s contribution to the program would come from its Strategic Investment Program, which until now has provided job creation incentives for larger companies to expand in the state. The city has inked several job creation deals through the Strategic Investment Program worth millions of dollars over the past few years with larger companies such as Boeing, Chesapeake Energy and Continental Resources.
GrowOKC would target smaller companies, said Brent Bryant, economic development program manager for Oklahoma City. “Some people have criticized the SIP program for just being for larger companies,” Bryant said. “Under this program, we are looking to help smaller companies grow.”