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Panasonic has rejected a second multibillion-dollar deal to open a battery factory in Oklahoma. It’s the third company to walk away from the state, as lawmakers struggle to figure out why Oklahoma can’t do such big business.
“Volkswagen, Panasonic, Tesla and now Panasonic again have passed up on Oklahoma because they’re feeling that they can’t attract and retain high quality employees, when they tell them they must move to a state like Oklahoma,” Rep. Mickey Dollens (R-Oklahoma City) said.
In recent years, lawmakers have been trying to lure corporations, most of which are leading the scene, toward confidentiality laws. In the capital, those deals were known as “Project Ocean” and “Project Connection,” but most of the corporations involved end up setting up shop in other states or countries.
“This is a huge loss of opportunity, just for the state and our economic well-being, but also for Americans and Americans who maybe just moved here but decided to,” said Rep. Dollens.
The proposed deal stipulates that Panasonic would receive $698 million in subsidies if it invested at least $3. 6 billion in the plant and created 3,500 jobs over four years. The plant would be located at Mid-America Park in Pryor.
A Panisonic spokesperson said in a statement: “After careful deliberation, we have taken the decision to continue the progress of the site. “
Rep. Dollens largely blames education and fitness legislation for being the reasons corporations are moving away from Oklahoma.
“Unfortunately, just at this superficial point, it’s enough for those corporations to move to another state or an absolutely different country,” Rep. Dollens said.
House Speaker Charles McCall said in a statement that his goal is tax reform in 2024, in the hope that it will help attract business.
Sen. Pro Tem Greg Treat also focused on economic development. He created a new Senate committee on tactics to make the state more interested in those giant companies.
“You can catch a company with almost a billion dollars to set up shop here, but they keep turning us away, and in my opinion, it’s because of the incredibly conservative social issues and policies that continue to be passed in the state. ” said the representative. Dollens said.
Gov. Stitt said in a statement that he “hopes the state can find some other partnership opportunity with Panasonic in the future. “
Full statement from Governor Kevin Stitt:
“Panasonic had already decided to move to Kansas last year. We would have loved for either party to have signed a deal before expanding here in Oklahoma when market conditions were stronger, but we hope to find another partnership opportunity with them in the future.
Full statement from President McCall:
“Parliament has provided what was requested through the executive branch to secure the commitment of the Ocean Project. Oklahoma remains open for business and we are excited about the economic progress we have recently noticed in our state, adding the 1,500 jobs production facility. which is being built through Enel.
In this session, I will support promoting more innovations in our tax design to become the number one in the country for our citizens and businesses, which will attract the jobs of tomorrow.
Full Pro Tem Treat Statement:
“I’m grateful that Panasonic has put Oklahoma firmly in mind. I also appreciated his overall objective attitude about some of Oklahoma’s strengths. We structured the incentive program in such a way that no cash was spent and would not have been spent until the company reached certain spending and employment thresholds.
Full statement from Panasonic:
“Panasonic Energy frequently explores expansion opportunities and compares tactics to strengthen our business and advance the electric vehicle industry in the U. S. U. S. To that end, in April 2023, we reached an agreement with the state of Oklahoma to explore the option of building a plant in that state, with the understanding that we would make the decision whether or not to continue at the end of this exploratory process. After careful consideration, we have made the resolution not to proceed with the progression of the site.
Decisions about the location of new services are extremely complex and based on a wide variety of factors. We are grateful for the conversations we’ve had with officials from across the political spectrum to discuss Oklahoma’s prospects for playing a role in Panasonic Energy’s development footprint in North America. This resolution will have no effect on our operations in Nevada or Kansas; We have a long-term commitment to investing in and promoting the electric vehicle industry in the U. S. We are based in the U. S. , and remain focused on providing the highest quality batteries to our customers.
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Panasonic has turned down a second multi-million dollar deal to open a battery plant in Oklahoma. This marks the third company to stray away from the state, as lawmakers work to figure out why Oklahoma can’t land these large deals.
“Volkswagen, Panasonic, Tesla and now Panasonic again have passed up on Oklahoma because they’re feeling that they can’t attract and retain high quality employees, when they tell them they must move to a state like Oklahoma,” Rep. Mickey Dollens (R-Oklahoma City) said.
In recent years, lawmakers have been trying to lure corporations, most often on the scene, toward confidentiality laws. In the capital, those deals were known as “Project Ocean” and “Project Connection,” but most of the corporations involved end up setting up shop in other states or countries.
“This is a huge loss of opportunity, just for the state and our economic well-being, but also for Americans and Americans who maybe just moved here but decided to,” said Rep. Dollens.
The proposed deal stipulates that Panasonic would receive $698 million in subsidies if it invested at least $3. 6 billion in the plant and created 3,500 jobs over four years. The plant would be located at Mid-America Park in Pryor.
A Panisonic spokesperson said in a statement, “after careful deliberations, we have made the decision not to move forward with developing the site.”
Rep. Dollens largely blames education and healthcare laws as the reasons companies turn away from Oklahoma.
“Unfortunately, just at this superficial point, it’s enough for those corporations to move to another state or an absolutely different country,” said Rep. Dollens.
House Speaker Charles McCall said in a statement that his goal is tax reform in 2024, in the hope that it will help attract business.
Sen. Pro Tem Greg Treat also focused on economic development. He created a new Senate committee on tactics to make the state more interested in those giant companies.
“You can catch a company with almost a billion dollars to set up shop here, but they keep turning us away, and in my opinion, it’s because of the incredibly conservative social issues and policies that continue to be passed in the state. ” said the representative. Dollens said.
Gov. Stitt said in a statement that he “hopes the state can find some other partnership opportunities with Panasonic in the future. “
Full statement from Governor Kevin Stitt:
“Panasonic had already decided to move to Kansas last year. We would have loved for either party to have signed a deal before expanding here in Oklahoma when market conditions were stronger, but we hope to find another partnership opportunity with them in the future.
President McCall’s full statement:
“Parliament provided what was requested through the executive branch to discharge the Project Ocean commitment. Oklahoma remains open for business and we are excited about the economic progress we have recently seen in our state, adding the 1,500-job manufacturing facility under structure through Enel.
In this session, I will support promoting more innovations in our tax design to become the number one in the country for our citizens and businesses, which will attract the jobs of tomorrow.
Full Pro Tem Treat Statement:
“I’m grateful that Panasonic has put Oklahoma firmly in mind. I also appreciated his overall objective attitude about some of Oklahoma’s strengths. We structured the incentive program in such a way that no cash was spent and would not have been spent until the company reached certain spending and employment thresholds.
Full statement from Panasonic:
“Panasonic Energy frequently explores expansion opportunities and compares tactics to strengthen our business and advance the electric vehicle industry in the U. S. U. S. To that end, in April 2023, we reached an agreement with the state of Oklahoma to explore the option of building a plant in that state, with the understanding that we would make the decision whether or not to continue at the end of this exploratory process. After careful consideration, we have made the resolution not to proceed with the progression of the site.
Decisions about where to position new facilities are extraordinarily complex and are based on a wide range of factors. We are grateful for the conversations we had with officials from across the political spectrum to discuss the potential for Oklahoma to play a role in Panasonic Energy’s growing footprint across North America. This decision will not impact our operations in Nevada or Kansas; we have made a long-term commitment to investing in and advancing the EV industry in the United States, and we remain focused on delivering the highest quality batteries for our customers.”
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