Ponca City Development Authority 102 S. Fifth, Suite 3 Ponca City, OK 74601 580-765-7070

PONCA CITY ATTRACTS LOGISTICS COMPANY (April 13, 2006)      The Ponca City Development Authority Board of Trustees approved an agreement earlier today with Drisco, LLC, a logistics company based in Kansas, to build and staff a facility in Ponca City. The unanimous vote will provide up to $60,000 in business incentives to the company in return for a guarantee to retain twelve Ponca City positions and attract twelve new positions to the community.      Drisco was the successful bidder, last fall, for a contract with ConocoPhillips to provide trucking services to the Ponca City refinery. The agreement reached with Drisco on Thursday will insure that the positions previously provided by the former private contractor for ConocoPhillips will remain in Ponca City. In addition, Drisco has agreed to provide at additional positions in their new facility currently under construction at the northeast intersection of Highway 60 and Ranch Road in west Ponca City. The company anticipates that the Ponca City facility will employ 30 people with the agreement guaranteeing 24.      The unanimous vote was the culmination of months of negotiations with the company. Those discussions, which began last fall after Drisco had successfully won the ConocoPhillips contract, encouraged the company to begin construction of their new Ponca City facility in January in spite of the fact that negotiations with PCDA were continuing.      According to PCDA Chairman Darrell Stolhand, the company's need to begin the facility prior to the final agreement was an indication of the company's commitment and trust in the community. "We were far enough along in our discussions that the company had a comfort level with us and decided that their business needs could not wait. These negotiations were based upon good faith and the time honored "Oklahoma handshake." We're pleased that they have chosen to not just do business in Ponca City but to grow in Ponca City."      The new Drisco Ponca City facility will allow the company to conduct business both inside and outside the refinery. The agreement guarantees that the positions in Ponca City will be maintained for at least five years.      The Ponca City Development Authority is a public trust of the City of Ponca City, funded through a voter approved sales tax measure dedicated to economic development. The Authority is governered by a seven member board that includes Chairman Darrell Stolhand, Vice Chair Lee Evans, Secretary Greg Neisen, Treasurer Chuck Van Cleave and Trustees Jim Leach, Doug Major and City Commissioner Stan Paynter, the City's liaison to PCDA. For more information, please Contact David Myers CEcD - Executive Director - PCDA Posted 5/4/06 Chamber of Commerce | Relocating | Education © www.goponca.com - Ponca City Development Authority - Ponca City, Oklahoma