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Bartlesville

Posted: Feb 27, 2019 12:26 PMUpdated: Feb 27, 2019 12:27 PM

Construction for Manufacturing Facility to Begin Soon

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Garrett Giles

In November the Bartlesville City Council approved a $550,000 financial incentive package in an effort to keep manufacturing jobs in Bartlesville. The Bartlesville Development Authority gave an update on the manufacturing facility in a Wednesday morning meeting. With help from many local banks, the BDA has closed on a construction loan for Phillips Precision Machining.

 

This occurred during the government shutdown which locked down the Small Business Administration. The BDA said with no guarantee from the SBA, the banks stepped up and got the loan. That helped with the time crunch that they faced to get Phillips Precision Machining into their new building by Sept. 30.

 

According to the BDA, construction on the new facility can begin any day now. PPM is believed to add nearly 20 jobs in Bartlesville. Siemens announced in 2018 that it was closing its local operation and would move to Houston, which would impact 120 high-paying jobs in the process. The Phillips Precision Machining facility should be completed by Sept. 1. PPM will get a 3-acre site in the industrial park and receive a $350,000 forgivable loan that they will have to pay back in time.


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