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Trust backs $400,000 TIF incentive to keep United Petroleum Transport’s corporate office downtown
Summary
The Trust approved up to $400,000 from TIF 8 to support United Petroleum Transport’s move into downtown corporate offices, contingent on project build‑out and hiring milestones; company leaders said the initial downtown headcount would be about 75 and emphasized safety and job growth.
The Oklahoma City Economic Development Trust voted Jan. 27 to authorize up to $400,000 from TIF District 8 to support relocation and build‑out of United Petroleum Transport’s downtown corporate office.
Matt Herndon, who identified himself as president and CEO of United Petroleum Transport, said the family‑owned company was founded in 1966 and employs more than 1,500 people overall. “We have over 1,200 employees today, over 1,200 drivers,” he said while outlining plans to initially occupy roughly 25,000 rentable square feet downtown and to add corporate shared‑service positions. Herndon said the initial downtown headcount will be about 75 and the company expects significant growth over five years.
Sutil explained that portions of the $400,000 allocation will be contingent on build‑out and new hiring, and staff confirmed the Trust will pay after improvements are completed and a certificate of occupancy is issued — meaning the city’s disbursement is tied to construction milestones rather than upfront payment. Trustees voted to approve the joint resolution.
The Trust did not record a roll‑call vote in the transcript. The board directed staff to prepare the formal economic development agreement and to attach standard performance conditions tied to completion and hiring.
