A $1 million federal grant will help rural Oklahoma oil and natural gas companies diversify to help create jobs and boost the region's economy.
The Oklahoman reports that the U.S. Economic Development Authority grant was presented to the Oklahoma Center for the Advancement of Science and Technology.
The grant is the largest funding OCAST has received. The state technology agency says it will match the grant with $500,000 in state funds and use the money to work with companies throughout rural Oklahoma. The grant is designed to create at least 340 jobs over the next two years.
OCAST Executive Director C. Michael Carolina says challenges in Oklahoma's energy industry are forcing companies and individuals to move to other areas of work, and the grant will help make that transition.