Stillwater’s growing ASCO global aerospace hub has bright future in Oklahoma
STILLWATER — When aerospace manufacturer ASCO selected Stillwater four years ago, the decision marked a turning point for Oklahoma. Today, Oklahoma is widely regarded as a global aerospace hub and the future keeps getting brighter in the Sooner State.
ASCO, a Belgian-based company, now employs 170 workers in Stillwater and expects to have around 500 employees within five years. Check for ASCO jobs here.
ASCO machines and finishes airplane wing components in Stillwater, as well as structural frame parts from steel and aluminum. Ultimately, those products are bound for Boeing 737s, 777s and 787s.
In 2014, PwC (Pricewaterhouse-Coopers) ranked ASCO the No. 88 aerospace company in the world with $412 million in global revenue.
Bruce Tifft, plant manager of ASCO Aerospace USA in Stillwater, recently spoke with Oklahoma: The State of Success about the site selection factors that led his company to here and enable ASCO to keep growing and thriving today.
Why did ASCO select Stillwater, Oklahoma as its business location?
BRUCE TIFFT: There were a lot of factors that figured into it, of course. We were able to find an existing facility with room for growth in a relatively central location to our customers and potential future customers. Another important factor was, of course, the cost of doing business. This includes a lot of the startup kinds of things, like training and some regulatory fees/costs but recurring costs like taxes and labor as well.
An important part of this is also the variety of incentive programs created by the State of Oklahoma such as Quality Jobs, the Investment Tax Credit, the ad valorem tax exemption, the manufacturer’s exemption for sales and use tax and the Training for Industry Program (TIP) that create solid leverage for new businesses.
Read the rest of the interview in Oklahoma NOW
Photo courtesy of ASCO