Blackwell CFM recieves BEIP Award from State of Oklahoma
Blackwell’s Casting, Fabricating, and Machining (CFM) foundry received a Business Expansion Incentive Program (BEIP) Award from the Oklahoma Department of Commerce, presented by the Blackwell Industrial Authority, along with Mayor of Blackwell Pat Hullet as well as Senator Roland Pederson and State Representative John Pfeiffer last Thursday.
The Industrial Authority, Mayor Hulett, Senator Pederson, Representative Pfeiffer, Jon Chiappe with the Oklahoma Department of Commerce, Darrel Grossardt, Chairman of the BIA/BEDA, and Charlene Flanery, Executive Director of the BIA/BEDA, and Brianna Turner, Administrative Assistant of the BIA/BEDA toured the CFM foundry and got a detailed walkthrough of the facility as well as the businesses plans for expansion.
The tour was led by CFM president Kurt Eck and Purchasing Manager Andy Ginn.
“Great things are happening in Blackwell! CFM has had a long-time investment in the Blackwell community and has been planning this expansion prior to COVID,” said Flannery.
“We are excited to see these plans come to fruition and with the added support of the BEIP through the Oklahoma Department of Commerce. This expansion is important to the Blackwell Industrial Park and Community because of the overall investment and jobs this will not only create, but sustain.”
Flannery further explained the BEIP:
“The Business Expansion Incentive Program (BEIP) is one of Oklahoma’s most valuable incentive programs to support the expansion of an Oklahoma manufacturer. This program supports these Oklahoma companies making major capital investments. The program seeks to improve their return on investment, lower the cost of the capital project, enables diversification to new markets, and promotes supply chain resiliency.”
The Business Expansion Incentive Program assists Oklahoma companies making major capital investments in depreciable items like machinery, equipment and buildings.
This incentive makes annual cash payment awards to help companies grow and boost business expansion investments in Oklahoma.
A typical incentive award is to a manufacturing company with an existing employee base making an investment of $5 million or more to expand their Oklahoma operation.
CFM is a wholly-owned subsidiary of Kice Industries, Inc., started in Blackwell in 1975 when Kice Industries built a foundry to provide gray and ductile castings to satisfy the company’s needs. In addition to providing castings for Kice, CFM Foundry now serves a growing number of outside customers.
They provide services to infrastructure and utilities, mining, industrial, and energy industries.
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