Stitt announces big tech investment in Oklahoma
OKLAHOMA CITY, Okla. (KSWO) - Governor Kevin Stitt unveiled a new company that will be setting up shop in Stillwater, and will be the United States’ first fully-integrated rare earth manufacturing facility.
The company’s $100 million investment will pave the way for the state to lead in the manufacturing of components in some of the world’s most cutting edge technology, including smart phones, electric vehicles, medical devices, as well as military equipment.
Governor Stitt said this isn’t just big news for Oklahoma, but the U.S. as a whole, in an effort to curb foreign reliance on the same technology.
“This is a huge win, not only for the state of Oklahoma, but I believe it’s huge win for our country as well,” Stitt said. “I’ll tell you why. Now the United States can stop relying on China for these resources, and can start counting on Oklahoma.”
Production at the new facility is supposed to begin sometime in 2023 with the project creating over 100 new jobs but generating nearly $7 million in wages once fully operational.
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