Woods County economic development committee approves minutes and financials; reviews revolving loan fund, regional forum and event plans

The Woods County Economic Development Committee approved minutes from its Dec. 10, 2024, meeting and unanimously approved financial statements through Feb. 28, 2025, during a regularly scheduled meeting. Committee members also received updates on a newly established USDA-backed revolving loan fund, plans for a Northwest Economic Developer Forum on May 8, and the committee’s annual Lieutenant Governor turkey-hunt event, which will include public workshops and business outreach.

The approvals were made by voice vote after motions to approve the Dec. 10 minutes and the financials to Feb. 28 were moved and seconded without further discussion. The chair called for the ayes and declared the motions carried.

The revolving loan fund, created with an approximately $100,000 USDA award, has formal documents and a review committee in place. Jeremy (staff member) said two applications already were approved by the Industrial Authority after recommendations from the revolving loan fund committee: one for a business expansion in Alba and one for a new business expected in Winoka. The committee discussed terms the authority intends to offer: five-year loans with example interest rates discussed at about 3.5% and 4.5%, and a contemplated range roughly between 2.5% and 6%. Committee members and staff said the Industrial Authority opted not to set a fixed maximum or minimum loan amount at this time; the authority will review applications case by case.

Jeremy explained that USDA must approve the first loans and request payment until the authority receives the full $100,000. The program is intended to support for‑profit businesses; federal restrictions tied to USDA funding prohibit certain categories (Jeremy noted dispensaries as an example). The committee discussed using the fund to support higher‑risk applicants that local banks decline, with the local banks referring potential borrowers to the fund.

Also on the agenda, Jeremy outlined a planned Northwest Economic Developer Forum set for May 8, by invitation to economic developers in the broader North/West region. The event will be partly sponsored by OG&E and is expected to host 15–20 economic developers for networking, a brainstorming session and speaker presentations. Speakers named in the meeting included Christy Bridal and Becky McRae (both identified as invited speakers), plus remarks that OG&E will provide lunch. Committee members discussed possibly inviting representatives from USDA Rural Development to future sessions.

Separately, the committee reviewed plans for its annual Lieutenant Governor turkey-hunt event and associated public-facing activities. The committee said the lieutenant governor is scheduled to visit Friday morning and will speak; the Friday workshop is open to the public and will include a 1–2 p.m. presentation by retail strategist Roger Godwin (City Economics) and other speakers such as Chris Grama of Catalyst Commercial. The event schedule includes a public "eggs and issues" session hosted by the chamber, a business workshop with free lunch, and site visits to local assets including the Harvey House and America’s Oasis. Jeremy said several industry guests (representatives from NextEra Energy, RightWater Corporation and BNSF) will attend to meet local hosts, and the committee emphasized arranging in‑person meetings between hosts and invited industry guests so visits will be productive.

In an update on the Woods County Industrial Development Authority (WCIDA), Jeremy said Plains Plastics is now a tenant in the airport building and has requested a lease extension; the Industrial Authority approved an annual pledge of $7,500 to the economic development committee. He reported that ARPA-funded infrastructure work for the Avar/ABAR industrial park—water and sewer—has been contracted to Myers Engineering and is pending study and approvals. Jeremy described separate Oklahoma PREP funds (also ARPA related) that provide additional flexibility for future site preparation and noted timelines extending toward 2027 for expansion phases.

In the committee director’s report, Jeremy described attending a regional AI summit and experimenting with AI tools (OpenAI, Gamma and others) to speed tasks such as drafting presentations and initial business‑plan outlines; he cautioned, however, that committee staff must review and humanize AI‑generated materials before use. The committee also noted that some grant processes will reject AI‑generated text unless it is adapted and validated.

No formal motions or votes were taken on the revolving loan fund approvals, forum plans, the turkey-hunt event or the ARPA infrastructure updates; the meeting closed after a motion to adjourn that carried by voice vote.

Looking ahead, staff said they will circulate an event itinerary for the lieutenant governor visit and the May 8 forum, and will pass along additional information about revolving loan applications as USDA approves initial disbursements.