DUNCAN, Okla. (KSWO) - Two companies in Duncan were selected by the Oklahoma Innovation Expansion Program to receive extra funding for new equipment and upgrades.

Valco Manufacturing was one of those companies that was selected for the funding. They produce parts that will be sent to assembly lines that build military aircraft.

Garrett Valdez, Business Developer and Contract Administrator with Valco says that the grant is something that they hope will bring in more local jobs.

“So it’ll keep the work here in Duncan and it will also allow us to go out and bid on work that we wouldn’t have before,” Valdez says. “There’s a potential for us to bring in new work which would in turn allow us to hire more people from the community.”

The other company that received funds, Sensia LLC provides parts and technology for the oil and gas industry on a global scale.

Like Valco, the funds provided by the OIEP will help bring in more jobs to the company’s location in Duncan and in turn keep workers local.

“The grant we received we are going to use for a new CNC machine,” says Lane Barby, Engineering Manager with Sensia.

“So we are trying to win back business from overseas and with that money we’re going to be able to do that.”

Valco Manufacturing received $85,000 from the OIEP while Sensia LLC was awarded the maximum amount of $150,000.

President of the Duncan Area Economic Development Foundation Lyle Roggow emphasized that the funds provided by the OIEP will bring more jobs to the community and keep local workers local.

“What it does do is it enhances their ability to be more competitive on the globe. They get new equipment, they get additional dollars brought in, they may also have the opportunity to hire more people.”