Valir Health, a post-acute healthcare company based in Oklahoma City, will be expanding and updating its current facilities, adding 145 new high-quality jobs. Through REI Development Corp., REI Oklahoma partnered with U.S. Bank to provide New Markets Tax Credit (NMTC) financing for the project. Totaling more than $12 million, the NMTC project will add additional licensure on the campus for additional post-acute care businesses, increasing the healthcare options for Oklahomans. The facility will continue to operate and serve patients in its current scope and with increased capacity.
Enhancements will include construction of a new space on the existing hospital campus to accommodate the expansion of Valir’s existing services. Since 2004, Valir has steadily increased its number of healthcare facilities. Their network of outpatient clinics has grown to 13, located within Oklahoma City and the surrounding area. The company also operates a hospice division, serving local patients and their families.
“The NMTC program is all about revitalizing and improving communities,” said Scott Dewald, REI Oklahoma President & CEO. “With every New Markets Tax Credit transaction our organization completes, the impact reaches well beyond the actual project, making it a win-win for both the business and its surrounding neighborhood.”
Since receiving its first federally-funded NMTC allocation, REI Oklahoma has counteracted disinvestment in the state’s communities amounting to total projects of more than $507 million, affecting more than 3,000 jobs.
The expansion of prosperity among Oklahoma’s healthcare facilities has become a forte of REI Oklahoma’s NMTC program with other past healthcare-related projects in Muskogee, Stigler, Tahlequah, Wetumka and Tulsa. Additional projects have included the restoration of the historic Skirvin Hilton Hotel in downtown Oklahoma City and assistance to an aerospace company in Stillwater, Oklahoma.