Just announced this morning, Tulsa will be home to Canoo. Looks like at least 2000 jobs.

https://www.prnewswire.com/news-releases/milestone-met-canoo-selects-oklahoma-for-owned-manufacturing-facility-301314784.html

I've been tracking this for a while...

OKC made a major pitch and they were trying to get them to build at I-240 and Eastern:

http://www.okctalk.com/images/pete/eastern240.jpg

Those are some odd loving vehicles but I hope to see some of them on the road!

Pete, do you know what Tulsa was offering that OKC didn't?

Pete, do you know what Tulsa was offering that OKC didn't?

No, the details are never public unless there is a done deal that requires approval of incentives.

I do know there was an issue with the OKC site due to a high-pressure gas line that runs through the middle.

Don't know if that made it more difficult to give them a good deal, but it seems likely.

There's a 2pm news conference about the "mega micro" factory.......

There's a 2pm news conference about the "mega micro" factory.......

Are they producing jumbo shrimp?

Are they producing jumbo shrimp?

I mean, they're making cars that are named after a boat, so anything is possible...

I do know there was an issue with the OKC site due to a high-pressure gas line that runs through the middle.

Don't know if that made it more difficult to give them a good deal, but it seems likely.

lol... so much land in OKC... and of course we can't find any good land for them... /facepalm

Good for the Tulsa area.

lol... so much land in OKC... and of course we can't find any good land for them... /facepalm

just east of the freight yard seems like a pretty good spot for a manufacturing plant, to me.

lol... so much land in OKC... and of course we can't find any good land for them... /facepalm

I don't know if that was an issue, just sharing what I know.

To be fair, OKC wins many more of these types of deals than does Tulsa.

Good for Tulsa. They were probably ahead of the game on their pitch after doing all of the leg work courting the Tesla factory. Seems like a good win for the state. I just hope it actually happens. These EV startups are looking pretty shaky right now.

This will be near Google's data center in between Pryor and Chouteau, so not Tulsa per se but nearby. The Tesla site is still available if/when either Tesla or another manufacturer wants to build a plant and is in East Tulsa.

Stinks for OKC to miss out, but good for the state overall. Hope more follow!

This is not just good for the Tulsa area (about an hour or so from Tulsa), but also for the state. Increases property taxes, increases state income tax revenue and sales tax revenue will also go up. Not bad for the state as a whole.

^^

I agree. I'm a bit sad that OKC wasn't selected for this manufacturing plant but still glad they landed within Oklahoma.

Does this company make vehicles anywhere else? Have they ever made a vehicle, and is there any reason to believe they'll be producing a finished product at that plant location somewhere down the line?

Based on my brief googling earlier I can't help but think the answers to all of the above is 'no'.

^

I started following Canoo several months ago and the whole company has been in disarray, including a recently opened SEC investigation, the departure of the CEO and other key execs, and a class-action lawsuit brought by shareholders.

I know they met with economic development reps here in OKC but everyone involved knew that Canoo is far from a sure thing.

Hope it all works out and the state sees benefit.

They might go the Rivian route and basically make a car in hopes a bigger manufacture will buy it out.

The company looks iffy, and I'm scared to get my hopes up, but the interest in the state and Tulsa area is good I guess. Their designs look weird, but apparently the tech is decent and the prototypes work well. I agree that they may be looking to get bought out. Hopefully we still end up with something. The van design looks interesting, and the truck is pretty utilitarian even with it's stupid front end design.

I wonder if the inland water port was a deciding factor.

Either way, this is great news and hopefully it is built and actually happens. Some of these EVs are bound to not pan out. I am happy a car maker finally selected Oklahoma for a production plant. The term “mega micro factory” is a bit oxymoronic but okay.

Does this company make vehicles anywhere else? Have they ever made a vehicle, and is there any reason to believe they'll be producing a finished product at that plant location somewhere down the line?

Based on my brief googling earlier I can't help but think the answers to all of the above is 'no'.
They partnered with Dutch Company NEDCAR to start production on 2022 & 2023 vehicles.

The company looks iffy, and I'm scared to get my hopes up, but the interest in the state and Tulsa area is good I guess. Their designs look weird, but apparently the tech is decent and the prototypes work well. I agree that they may be looking to get bought out. Hopefully we still end up with something. The van design looks interesting, and the truck is pretty utilitarian even with it's stupid front end design.

I wonder if the "Eye Brow" added them to his portfolio?

You have to remember that the governor lives and has his company in Tulsa. He naturally tends to push projects that way.

You have to remember that the governor lives and has his company in Tulsa. He naturally tends to push projects that way.

He has tried this, and quite a few of these types of announcements have still gone to OKC, despite him actively telling companies Tulsa is better (from people i know who would know, he is almost a bigger recruiter for Tulsa than their own chamber). Makes what OKC is doing, in spite of what the governor is telling companies, more impressive.

But enough about the city vs city thing. Just glad to get a huge development like this.

I've been tracking this for a while...

OKC made a major pitch and they were trying to get them to build at I-240 and Eastern:

http://www.okctalk.com/images/pete/eastern240.jpg

What used to be on that plot of land? I'm guessing a tornado wiped it out.

I’ll be pleasantly surprised if they end up building this. Most of these EV startups don’t have the capital to follow through on much of anything.

https://ecp.yusercontent.com/mail?url=https%3A%2F%2Fwww.gannett-cdn.com%2F-mm-%2Ffa914244af5254218ff03a5d6773eeb3b7df7f39%2Fc%3D 0-100-1920-1180%2Flocal%2F-%2Fmedia%2F2021%2F06%2F05%2FUSATODAY%2Fusatsports% 2FMotleyFool-TMOT-113d6aa4-canoo.jpg%3Fwidth%3D1200&t=1624028148&ymreqid=25fbd58b-0389-fdf5-1cfe-520001019200&sig=otjOB38.AF0UX6zKPg24rg--~D
Oklahoman, 06-18-2021

Electric Car Plant, good news for our sister city of Tulsa. A plant of this size and magnitude is sure to attract a number of satellite companies to neighboring Tulsa.

Wish them the best of luck.

Any EV company that isn't Tesla has major major work ahead of them to ever become a legitimate company.

What used to be on that plot of land? I'm guessing a tornado wiped it out.

I don't remember anything ever being on that square mile.

I'm sure with Stitt being from Tulsa has something to do with it. He was probably making his home city look a lot more business attractive, lol.

Maybe he feels it was owed to them, since they lost out on the Tesla deal.

I'm sure Stitt had very little to do with landing this. Mid American Industrial Park is a pretty serious enterprise and they have a lot to offer and market themselves very well. They landed a huge Google facility... Local govs like to take credit, but businesses go where it makes sense for them to go, and Mid American is good at making the case that it makes sense for businesses to locate there. They have good rail infrastructure, close access to Port of Catoosa, cheap reliable power, and are close enough to population centers to get employees while being out it the boondocks enough to make building anything you want pretty easy.

I'm sure Stitt had very little to do with landing this. Mid American Industrial Park is a pretty serious enterprise and they have a lot to offer and market themselves very well. They landed a huge Google facility... Local govs like to take credit, but businesses go where it makes sense for them to go, and Mid American is good at making the case that it makes sense for businesses to locate there. They have good rail infrastructure, close access to Port of Catoosa, cheap reliable power, and are close enough to population centers to get employees while being out it the boondocks enough to make building anything you want pretty easy.

If they received a large amount of state incentives, then he DEFINITELY had a lot to do with it. Sure, infrastructure is there. But companies don't build huge plants like this without massive subsidies, since that is the way of the world, unfortunately.

If they received a large amount of state incentives, then he DEFINITELY had a lot to do with it. Sure, infrastructure is there. But companies don't build huge plants like this without massive subsidies, since that is the way of the world, unfortunately.

True to the tune of $300 million, according to company CEO. Unusual, though, how the state doesn't want to confirm it: https://www.stwnewspress.com/news/oklahoma-officials-refuse-to-release-details-about-tax-incentives-to-bring-car-manufacturer-to-pryor/article_50dffe98-d2d7-11eb-85bd-a7b26a2a9563.html

Former Senator Nickles helped: https://tulsaworld.com/business/local/auto-makers-development-in-pryor-gets-assist-from-former-oklahoma-u-s-senator/article_185494fe-d35d-11eb-ab7a-a3bdc06cc160.html#tracking-source=home-top-story-1

I'm sure Stitt had very little to do with landing this. Mid American Industrial Park is a pretty serious enterprise and they have a lot to offer and market themselves very well. They landed a huge Google facility... Local govs like to take credit, but businesses go where it makes sense for them to go, and Mid American is good at making the case that it makes sense for businesses to locate there. They have good rail infrastructure, close access to Port of Catoosa, cheap reliable power, and are close enough to population centers to get employees while being out it the boondocks enough to make building anything you want pretty easy.

'Beginning of a new wave': MidAmerica Industrial Park wants to capitalize on Canoo investment in Pryor: https://tulsaworld.com/business/local/beginning-of-a-new-wave-midamerica-industrial-park-wants-to-capitalize-on-canoo-investment-in/article_413b4924-d03f-11eb-81ef-8b8b3dcc883a.html

True to the tune of $300 million, according to company CEO. Unusual, though, how the state doesn't want to confirm it: https://www.stwnewspress.com/news/oklahoma-officials-refuse-to-release-details-about-tax-incentives-to-bring-car-manufacturer-to-pryor/article_50dffe98-d2d7-11eb-85bd-a7b26a2a9563.html

Former Senator Nickles helped: https://tulsaworld.com/business/local/auto-makers-development-in-pryor-gets-assist-from-former-oklahoma-u-s-senator/article_185494fe-d35d-11eb-ab7a-a3bdc06cc160.html#tracking-source=home-top-story-1

I hope there's a clawback process for any actual dollars spent if and when this arrangement falls through.

I hope there's a clawback process for any actual dollars spent if and when this arrangement falls through.
This!

I hope there's a clawback process for any actual dollars spent if and when this arrangement falls through.

Outside of land purchases and such, aren't most incentives based on performance metrics?

Of course, this would all be easier to decode if this information was public. I understand needing some confidentiality during the process, but at some point all the details need to be released.

Outside of land purchases and such, aren't most incentives based on performance metrics?

Of course, this would all be easier to decode if this information was public. I understand needing some confidentiality during the process, but at some point all the details need to be released.

I assume they will come back as the legislature is interested in what was promised from both sides.

Animation of the conceptual design for the Oklahoma campus (https://twitter.com/canoo/status/1409945719071395840)

Outside of land purchases and such, aren't most incentives based on performance metrics?

Of course, this would all be easier to decode if this information was public. I understand needing some confidentiality during the process, but at some point all the details need to be released.

In as much the process is over, the details should already be released. Stitt has shown a penchant for keeping the public in the dark. No details means no accountability. The Covid reports generated by the Feds are an example. My opinion is partly based on the fact that not only is this company a start up but more importantly is the fact that it is under SEC investigation.

The Canoo people are talking about the deal publicly, so it's not like the state needs to withhold info to avoid killing the deal (the common excuse given for secrecy).

They just don't want the hard numbers out because they know people will raise objections and they want to just shove this through.

I'm not a fan of electric cars for a whole host of reasons, and I think Canoo should at least change their designs a bit. However, I really hope this works out. One of my dreams for Oklahoma is it to be a huge manufacturing hub. We can certainly generate a work force for manufacturing with all of the tech schools.

I'm not a fan of electric cars for a whole host of reasons, and I think Canoo should at least change their designs a bit. However, I really hope this works out. One of my dreams for Oklahoma is it to be a huge manufacturing hub. We can certainly generate a work force for manufacturing with all of the tech schools.

NE Oklahoma has a large skilled manufacturing workforce thanks to existing industries and trade schools like Tulsa Tech, Tulsa Welding School, Spartan and TCC. Manufacturing of various O&G components, heat exchangers, mechanical equipment, aircraft parts and various other misc things like Whirlpool appliances and paper products at Kimberley Clark and Sofidel . With the downturn in O&G many of these same types of jobs could be easily transferred to electric car production with sites east of Tulsa with highway, waterway and rail access.

The Canoo people are talking about the deal publicly, so it's not like the state needs to withhold info to avoid killing the deal (the common excuse given for secrecy).

They just don't want the hard numbers out because they know people will raise objections and they want to just shove this through.

Or the fact Canoo like almost every other electric start up company is probably a scam and likely to be bankrupt within 24 months. They're not any different than Lordstown Motors or Nikola.

Or the fact Canoo like almost every other electric start up company is probably a scam and likely to be bankrupt within 24 months. They're not any different than Lordstown Motors or Nikola.

I'm sure Stitt wants them to hold on long enough so he can use this deal as a feather in his cap for the November 2022 reelection.

https://twitter.com/HindenburgRes/status/1370365000519417861?s=20

https://hindenburgresearch.com/nikola/

I'm sure Stitt wants them to hold on long enough so he can use this deal as a feather in his cap for the November 2022 reelection.

Broader economy will determine that.

Nikola has been proven to be a scam. Still churning along as a $7B stock somehow.

Or the fact Canoo like almost every other electric start up company is probably a scam and likely to be bankrupt within 24 months. They're not any different than Lordstown Motors or Nikola.

Unfortunately, I think you are spot on with this take.

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

I mean the difference being Tesla actually has factories/makes cars. Canoo doesn't yet. I think that is a legit concern.

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

I'm ecstatic we landed it.

Given broader trends and frauds in the EV space, I'm extremely skeptical.

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

Almost everyone has said they are happy for the state.

But there are also a lot of reasons to doubt this company will ever be able to perform, and that's based on hard information.


Both these things can be simultaneously true.

Little more info on the incentives to come to Oklahoma. ~300 million over all with 16 million in land and 15 million in cash as an upfront payment.

https://twitter.com/readfrontier/status/1448298740863979522?s=21

I hope there's a clawback provision for that cash.

Those are some odd loving vehicles but I hope to see some of them on the road!They are odd looking. But they say they're shooting for 500+ HP for the pickup version. Not shabby.

That's a pretty wild slate of incentives, but I guess if it works, it works. This project needs to be watched closely, and it is concerning that the company is under investigation, but still... Going from conception to reality in this business is going to be rocky. If it all works out and they actually build this factory, I think the incentives will be worth it, but it's definitely a gamble.

I was hoping it wouldn't take that much to get them here, but I guess it makes sense seeing how many other places they could have gone that are probably better suited for it.

I am still rooting for them.

If Canoo is successful it will likely lead to suppliers and other companies setting up shop in NE OK. An excerpt from The Frontier article:


Economic development officials in the state hope Canoo will lure more electric vehicle makers and suppliers, helping make Oklahoma part of a regional manufacturing corridor for the burgeoning industry.

The electric vehicle industry is poised for major growth over the next decade, and landing one manufacturer is often the key to attracting other companies, Stewart said.

“It’s a very logical progression of an industry and the benefits it can bring to Oklahoma are significant and long-lasting,” he said.

Canoo is setting up headquarters in Walmart’s hometown, picks Panasonic as battery supplier | TechCrunch
https://techcrunch.com/2021/11/15/canoo-is-setting-up-headquarters-in-walmarts-hometown-picks-panasonic-as-battery-supplier/