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Posted: Dec 20, 2023 8:26 AMUpdated: Dec 20, 2023 12:58 PM
Lincoln Electric Company to Purchase Former Siemens Building
Nathan Thompson
A Union City, New Jersey-based company is expanding to Bartlesville, bringing 100 new full-time jobs to the market.
Lincoln Electric Company will purchase the former Siemens building near the airport for $2.25 million from the Bartlesville Development Authority. Lincoln is a family-owned company that was established in 1949. Chris Batchelder with the BDA says the company specializes in several electrical components and Bartlesville's location plus the available 160,000-square-feet building were perfect for their expansion plans.
The BDA Board of Trustees unanimously approved the sale of the former Siemens building on Wednesday morning. They also recommended to the Bartlesville City Council to appropriate up to $1.5 million from the city's economic development fund for a job creation incentive over the next 36 months and up to $1 million for the resident recruitment relocation plan. If the City Council approves the incentives, Lincoln will receive $15,000 per new employee and those relocating to Bartlesville will receive $10,000 each.
Mayor Dale Copeland says using economic development funds to incentivize Lincoln Electric to expand to Bartlesville is a great thing for the community.
The Bartlesville City Council will consider the incentives at their Jan. 2, 2024 meeting.
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