Coates International, a Wall Township engineering company that develops fuel-efficient engines, said it has decided not to accept incentives from Oklahoma to open a manufacturing facility, and is now talking to another state. It could not immediately be learned if New Jersey is under consideration.
Coates announced June 14 it could receive incentives from Oklahoma valued up to $63.4 million over 10 years, based on the creation of 300 jobs in the Sooner State the first year, and up to 800 jobs over three years. Don Hackler, a spokesman for Oklahoma's Department of Commerce, said, "We're disappointed they are not considering Oklahoma, but we wish the best for Coates International and all their future endeavors."
In a statement, Coates said it "has decided to pursue setting up manufacturing and production operations in another state that is more business-oriented and willing to provide better opportunities."
Coates said it is working on securing a package of business and tax incentives with another state that could be finalized by the end of August, but said there is no assurance the company will succeed in that endeavor.
On its website, Coates said its Wall research and development facility is a 30,000-square-foot complex on more than six acres of land. The company said its assets include 18 U.S. patents, and more than 100 worldwide, for combustion engines and new technologies related to combustion engines. Coates said it specializes in the development of technologies that evolve the standard combustion engine, with the goal of dramatically improving fuel efficiency and power generation, and reducing harmful emissions and long-term maintenance costs.