Cleveland County Commissioners approved a resolution Tuesday to issue $15 million in lease revenue bonds for funds to expand Hitachi Computer Products Norman plant.
The funds will be borrowed from the Oklahoma Development Finance Authority and will be paid back in part with the state withholding tax of local Hitachi employees.
Bond counsel fees, underwriter expenses and other fees associated with the bonds estimated at $379,400 will be paid by Hitachi.
The funds are part of $100 million the state has allocated for economic development, said Don Wood, executive director of the Norman Economic Development Coalition. Wood said this was the first project in the state to use the funds but there may be more in the works.
Wood told commissioners he had been working with Hitachi for about six months. The expansion will add nearly 200,000 square feet to the north of the plant and will allow Hitachi to consolidate its manufacturing and distribution functions.
The added space will replace the warehouse that is now in Indiana. It will save the 300 jobs here and will add another 75.
With the expansion and consolidation, the Norman plant will be the main center for North and South America, Wood said.
The decision to keep the Norman plant open went "all levels to the final five member council in Japan.
"The message is how aggressive Norman and the county is in securing jobs," Wood said.
The groundbreaking for the expansion will be 3 p.m. Monday at the Hitachi plant, 1800 E. Imhoff Road
In other business, commissioners declared Cleveland County a disaster resulting from the December snow storm to receive federal money.
County Emergency Director Dan Cary told commissioners that FEMA will meet Thursday with county and utility officials to assess the damages. He said damages had to amount to $600,000 countywide.
Commissioners approved Stephanie Greenwell as a teaching assistant for the Early Foundations Replication Project with the Cleveland County Health Department.
They also approved a lease renewal between the Cleveland County Health Department and SC Phone Works Plus for telephone service at the rate of $375 per month for the Moore Office.
Other items approved by the commissioners included:
· Disposed a 2000 Ford Crown Victoria as surplus.
· Disposed typewriters, filing cabinets and other office supplies from the health department which were sold or junked.
· Disposed a 2005 Crown Victoria and several walkie talkies from the sheriff's department. They were either junked, traded or declared surplus.
· Disposed of a vacuum cleaner and other cleaning equipment from building maintenance and were junked.
· Awarded a contract to multiple vendors for bulk oils, lubricants and antifreeze.
· Accepted bids and may award later for road oils, emulsions and sealants, materials and installation of asphalt concrete base asphalt materials.
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JERRY LAIZURE
County approves sale of bonds to expand Hitachi Computer Products
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