Trust approves $750,000 TIF 2 allocation to renovate Peerless building for MyDefense headquarters
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Summary
The Trust approved up to $750,000 from TIF 2 to renovate the Peerless Oklahoma Company building at 11 Northwest 8th to accommodate MyDefense, a Denmark‑based drone defense firm; presenters said the 25,000‑sq‑ft project has a $9.5 million cost estimate and a target average salary of about $105,000 for new positions.
The Oklahoma City Economic Development Trust approved a joint resolution on Jan. 27 to allocate up to $750,000 from TIF 2 for renovation of the Peerless Oklahoma Company building at 11 Northwest 8th to support a new corporate/R&D presence for MyDefense.
Travis Mason, representing the project developer, said the property is 25,000 square feet on a 1.2‑acre lot and is a fit for a drone and drone‑defense company because of its overhead access and drive‑through doors. He said MyDefense will use the site for corporate offices and light R&D and that there will be no drone manufacturing at the location. Mason said the total project cost is about $9.5 million and the team hopes for an estimated completion in the third quarter of this year.
Mason identified MyDefense as an aerospace company with work for the U.S. Army and other defense partners; he said the company’s average salary for the positions associated with this project is about $105,000 and that the operation’s median employment would be roughly 20 Oklahoma City residents initially. Sutil characterized the request as an economic redevelopment investment, and trustees approved the allocation by voice vote.
Staff will prepare the formal agreement that specifies eligible uses, disbursement triggers and performance expectations for hiring and occupancy.
