Categories: Economic News

The City Council approves economic development agreements for TIF districts news

ENID, Okla. — An economic development agreement is now in place between the city of Enid and a renewable energy service provider, along with an amended economic development agreement with Transportation Partners and Logistics.

Enid city commissioners Tuesday evening approved an economic development agreement with Takkion and an amendment to an existing economic development agreement with TP&L on 66th.

The 7-0 vote, Commissioner Jerry Allen said Tuesday, “ends a big problem” for the Enid community.

“New jobs, new investment and new things happening with old things we already have — it’s a great day,” he said during the meeting.

In June, commissioners unanimously approved two ordinances to create TIF District No. 9 and extend the 10-year term of TIF District No. 7, both in an area east of Enid.

As part of those agreements, the city of Enid will reconstruct South 54th from US 412 south to the end of the former Chesterfield Cylinder Building, 201 S. Raleigh, at an estimated cost of $1.3 million dollars, and will extend improvements to 66th north of Willow, estimated at $950,000.

Takkion, a renewable energy service provider, will receive a roughly $500,000 rebate using 65 percent of the revenue generated from TIF to cover the state’s inventory tax.

The company announced in July its intention to locate in Enid, building a “first-of-its-kind” remanufacturing facility for wind turbine components located at the Chesterfield complex.

Lisa Powell, ERDA’s executive director, said Thursday that Renew Energy Maintenance, a subsidiary of Takkion, brought a team to Enid this week to meet with Autry Technology Center and will have other meetings as it begins renovating the site.

Powell said Renew plans to open within a year, using that year to complete renovations and order and install equipment.

By 2028, nearly 100 jobs will be created in TIF District #9, which will support the new Takkion facility.

TIF District #7 was created for the same inventory incentive purposes for TP&L, which Takkion acquired in 2020 and is estimated to receive more than $14 million in inventory incentive in 2036

After property values ​​are reassessed, the city will be reimbursed with the resulting new property tax dollars over the next 14 years, City Manager Jerald Gilbert said.

“Enid is on the map for a lot of things, and wind power is one of them, even more so than before,” Gilbert said Thursday.


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