Revenue note issued for DuPont’s Solae soy processing plant in MidAmerica Industrial Park, Pryor Creek, OK



Oklahoma leaders OK funds for Pryor plant
By MICHAEL MCNUTT NewsOK.com
Published: 7/28/2012 2:28 AM
Last Modified: 7/28/2012 3:54 AM

OKLAHOMA CITY – A state agency approved a $4.35 million financial deal Friday to help with a $30 million expansion project for a soy protein processor in Pryor
The state Council of Bond Oversight authorized the Oklahoma Development Finance Authority to issue a revenue note for the Solae plant in the MidAmerica Industrial Park.

 

Michael Davis, president of the Oklahoma Industrial Finance Authority, said the deal allows Solae to construct a building and update equipment. The Pryor plant, which has 178 employees, is expected to add 48 jobs by the third year of the expansion.

Solae, owned by DuPont, will buy the $4.35 million note and then be repaid by the state over 10 years with state withholding taxes collected from the Pryor plant employees, Davis said.

Click here to read the complete article at NewsOK.com.

 





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