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Council approves incentives up to $175,000 for Hapco manufacturing project, citing job creation
Summary
Council approved a joint resolution to allocate up to $175,000 in GEO bond proceeds to Kearney National Inc. (doing business as HAPCO) to support a light-pole manufacturing facility expected to create 81 jobs over five years and involve roughly $51 million in capital investment.
The Oklahoma City Council on Aug. 1 approved a joint resolution to allocate up to $175,000 in GEO limited tax bond proceeds to Kearney National Inc., which will do business as HAPCO, to support a new manufacturing facility projected to create 81 jobs over five years.
Kenny Sudel of the Alliance for Economic Development presented the item as part of the Strategic Investment Program and said the allocation would be structured as pay-for-performance based on payroll metrics. Fred Vermeer, project manager and former company CEO, described the firm’s aluminum light pole manufacturing and its decision to expand westward to Oklahoma City to take advantage of interstate logistics and local workforce training partners.
The presentation estimated an average wage near $51,000, a first-year payroll of about $1 million ramping to roughly $4 million by year five, and capital investment around $51 million. Councilmembers asked questions about verification and contractual terms; staff said companies must demonstrate job creation and payroll to receive rebate payments. The resolution passed 7–1.
Staff will return with contract details and pay-for-performance language specifying verification steps and payout schedules.
