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Durant Industrial Authority reports interest from manufacturer; potential $30M–$100M investment under review
Summary
The authority described 'Project Sand,' a potential manufacturing investment that could require more than 1 million square feet of space and total regional investment in the tens of millions of dollars; due diligence is underway and incentives are pending Oklahoma Department of Commerce review.
Durant Industrial Authority trustees received an update on a prospective manufacturing project dubbed “Project Sand” at the Jan. 7 meeting. The authority said due diligence is underway and the proposal could bring major investment to the city if the company chooses Durant.
Executive Director Kathy told trustees the company’s owners visited Durant and are considering locating two manufacturing operations in the area. Trustees were given preliminary financial information and said Vision Bank verified credentials for the owner, brokers and guarantor. The authority said it has reviewed three years of financial statements as part of a first-pass review.
Kathy described two distinct investment components the authority is tracking: an initial manufacturing facility estimated in the tens of millions of dollars, and a second onshoring investment the authority estimated in the tens of millions to low hundreds of millions. The authority said the company would require more than 1,000,000 square feet of manufacturing space; one existing building in Durant could potentially accommodate the project, and land acquisition is the alternative.
Kathy said the project has been submitted to the Oklahoma Department of Commerce for consideration of incentives; the authority expects the department’s incentive package to vary and to be evaluated on a five- to 10-year timeframe. She also said Louisiana has been an active competitor for the project.
Trustees emphasized that the city does not control the company’s decision; the authority’s role is to complete due diligence, provide introductions and, if appropriate, consider land or infrastructure support. No formal incentives or funding decisions were made at the Jan. 7 session.
Kathy asked trustees to remain engaged because early-stage work on infrastructure and planning could influence whether Durant becomes the preferred site. The authority expects to provide further updates as due diligence proceeds and as state incentive discussions progress.
