Bill Could Create Thousands Of Jobs

This week, the Legislature approved a bill that could bring thousands of high-paying technology jobs to Oklahoma.

House Bill 4455 would create the Large-scale Economic Activity and Development (LEAD) Act of 2022. The bill provides a 10-year investment rebate program for qualified capital expenses by specific businesses based on their creation of new direct jobs.

HB4455 was filed after one of the world’s most prominent technology brands expressing interest in building the largest Gigafactory in the world in Pryor to produce batteries for electric vehicles. The project calls for 4,000 direct jobs at the Gigafactory and 4,000 additional support positions. The 3.3-million-square-foot facility, totaling 76 acres under one roof, represents a $4 billion-plus capital investment in our state.

Landing this deal would help all areas of the state by creating a new industry in a market with ample demand for manufacturing facilities statewide.

Data shows electric vehicles will own the worldwide auto market in the next 30 years. Oklahoma can be the next U.S. auto hub. With our central location and our focus on building our workforce, Oklahoma is an ideal hub for this industry.

We've long said we want Oklahoma open for business and to create opportunities to improve our quality of life. This deal could further our progress toward this goal.

Investment in our economy, like with HB4455, is why our state budget has done so well in recent years. State revenues in the past were devastating on public agencies and on Oklahomans. For several years, it was a fistfight to fund the core services Oklahomans need.

House and Senate leaders are currently negotiating the state budget, and we're coming into the budget negotiation process with our highest ever state budget at $10.4 billion. While we have record-high state revenues to appropriate for our next fiscal year, we must still take a conservative approach with our state budget.

It's important to continue saving for an eventual economic downturn. We have set aside money for several years in a row to prepare for future economic hardships so we can have a more stable budget to prepare for whatever may come.

But we'll still be able to appropriate adequate funding for programs and state services such as public education, infrastructure, health and mental health care and public safety, among others. Last year we were able to give public education a record high, restore funding to transportation and public safety, and increase pay for teachers, state employees and corrections officers.

We're committed to continued investment in our priorities while saving money for future economic downturns, because we know the importance of readying for the future.

Rep. Toni Hasenbeck, a Republican, represents House District 65 in the Oklahoma House of Representatives. Her district includes Cotton County and portions of Comanche, Stephens, Grady and Caddo Counties.