TRANSFORMATIONAL CAPITAL INVESTMENT
More than $4.5B in Public Improvements
CITIZEN-LED QUALITY OF LIFE INVESTMENT
Metropolitan Area Projects Igniting a Renaissance
Metropolitan Area Projects (MAPS) are funded through a temporary one-cent sales tax. The first series of projects was passed in 1993, with a five-year sunset. Voters extended the tax by six months to complete the nine promised projects:
- Bricktown Ballpark - $34M, opened 1998
- NBA Arena - $89M, 19675 seats, opened 2002
- Bricktown Canal - $23M, completed 1999
- Downtown Library - $21.5M, opened 2004
- Convention Center Expansion - $60M, opened 2000
- Civic Center Renovation - $54M, opened 2001
- State Fair Renovations - $14M, completed 1998
- Oklahoma River - $53M, completed 2004
- Trolley Service - $5M, service 1999-2010
MAPS for Kids Recreating a School District
MAPS for Kids was passed by voters in 2001. This $700 Million program combined a temporary sales tax with a school bond issue to replace or renovate every school in the urban Oklahoma City Public School district, along with $52M in technology and $9M for transportation.
The program also provided capital for more than 400 approved projects in 23 area school districts based on their City of OKC student enrollment.
MAPS 3 Creating a Healthier, More Vibrant City
MAPS 3 is a $777 million initiative passed in 2009. Implementation of the projects will continue until 2021. This program includes:
- New convention center, $288M
- 40-acre downtown public park, $132M
- Modern streetcar system, $131M
- New expo hall at State Fair Park, $58M
- Senior health and wellness centers, $52M
- Whitewater center, $57M
- Trails and Sidewalks, $57M
CITYWIDE INFRASTRUCTURE INVESTMENT
Infrastructure for Growth
Since 2000, voters in Oklahoma City have approved nearly $3B to improve basic infrastructure in the city. This includes streets, water, libraries, public safety and more.
In 2017, voters also approved an additional temporary one-cent sales tax to augment these infrastructure improvements for 27 months.
2000 Bond Issue $340 Million
2007 Bond Issue $835 Million
2007 School Bond $248 million
2008 Tinker Bond $55 million
2008 MAPS extension $120 Million
2016 School Bond $180 Million
2017 Bond Issue $967 Million
2017 Sales Tax $240 Million
DOWNTOWN INFRASTRUCTURE INVESTMENT
Project 180 Downtown Reinvented
The Devon Energy Center is a $750 million, 52-story office complex opened in October of 2012. A tax increment financing district was created to capture $125 million of the incremental tax from this development to redesign downtown streets, sidewalks, parks and plazas.
The program included major renovation of Myriad Botanical Gardens and Bicentennial Park.
TIF 8 ($125 million)
GO Bonds ($40 million)
OKC Water Trust ($11 million)
OKLAHOMA CITY INNOVATION DISTRICT
Strong base of research and employment with emerging entrepreneurial ecosystem
- Cluster of medical and research institutions that attracts three-fourths of the project dollars the state receives from the National Institutes of Health
- More than 18,000 people work in the area, almost 5 percent of the city’s total workforce
- University Research Park, a 23-acre, $100 million site, is currently home to 38 science-based companies
- Baker Hughes GE research facility focused on oil and gas exploration. BHGE Research has created a novel incubation program with an early stage fund and high quality R&D support
- Brookings Institution and Project for Public Spaces completed a growth strategy for the district in 2017 that takes advantage of the city’s research strengths in health, energy and aerospace. A new coordinating entity is driving the implementation of the study recommendations.
DOWNTOWN OKLAHOMA CITY
Vibrant Districts with Development Potential
- Dramatic revitalization of the urban core, building on 25 years of smart public investments
- Total MAPS investment downtown of $1.2 billion and private investment of more than $6 billion.
- Current projects underway include construction of a 6.9-mile streetcar system, a new 70-acre Scissortail Park linking the downtown to the Oklahoma River (i.e., “Core to Shore”), a new convention center, and a 605-room Omni Hotel
- Private and civic activity in and around the downtown; about 8,500 residents who trend young and educated: 60% are ages 25-34 and 87% have a college degree
- Daytime Population of 46,775
AVIATION/AEROSPACE INDUSTRY CLUSTER
America’s Center of Military Maintenance, Repair and Overhaul (MRO)
- More than 230 aerospace firms now located in the region
- Industry workforce has grown to more than 36,600
- Aerospace firms now produce $4.9 billion in goods and services locally
- Major anchors include Tinker Air Force Base, the largest military MRO operation in the world; FAA’s Mike Monroney Aeronautical Center, a central training and logistics center; and Will Rogers World Airport
- Significant employment at Boeing, Pratt & Whitney, Northrop Grumman, Lockheed Martin, AAR Aircraft, Field Aerospace, Kratos and more
- World class research programs at Boeing location and Civil Aeromedical Medical Institute (FAA)
DIVERSE AND GROWING WORKFORCE
Greater Oklahoma City is well-positioned not only as a region itself, but also as a market at the center of one of the nation’s most exciting growth corridors, the I-35 megalopolis. Companies can leverage a substantial network of higher education, CareerTech and Pre-K-12 programs that are creating a talented workforce well-positioned to compete in a highly competitive, skills-driven environment.
Strong Workforce Pipeline
- 144,723 college students
- 118,664 CareerTech Students
- 118,000 Workers Added since 2000
Strong Graduate Retention
- 62 percent stay in Oklahoma
- 60 percent of those who stay work in Greater Oklahoma City
- Of the PhD grads, 95 percent work in Greater Oklahoma City
- Oklahoma City has been a right-to-work state since 2001. Union membership, as a percentage of the labor force, is half the national average.
STRONG START-UP CULTURE
- Entrepreneurial ambition has been a strong suit in Oklahoma City ever since the day Land Run settlers turned a prairie into a tent city of 10,000.
- Companies created in Oklahoma City with long term growth and success Love’s Travel Stops, Sonic Drive-ins, Hobby Lobby, Devon Energy, Chesapeake Energy, Cytovance, Express Personnel, American Fidelity and Paycom.
- Start-ups with significant funding and rapid growth include WeGoLook and Selexys Pharmaceuticals. Other growing start-ups include Oseberg, Exaptive, and Tailwind.
- 56,000 people employed at firms age five years or less.
Since 2007, OKC has added more than 15,000 locally-owned businesses and the percentage of small businesses in OKC has increased from 20 percent to 27 percent
Strong State and Local Performance-Based Incentive Programs
These incentives in Oklahoma City can be layered together to enhance the appeal of districts targeted for redevelopment
- Oklahoma City's Strategic Investment Program (SIP)
Discretionary deal-closing fund that provides qualifying companies with a cash award based on newly created jobs.
- Oklahoma Quality Jobs Program - 10 Year Cash Incentive
Qualifying companies can directly receive up to 10% of total payroll in the form of quarterly cash payments for up to ten years.
- Tax Increment Financing
Oklahoma City has 13 TIF districts designed to promote private development in targeted areas. Four of these districts overlap or are contained within the opportunity zone.
- Tax Credits
New Markets Tax Credits, Investment Tax Credits, Low Income Housing Tax Credits and Historic Preservation Tax Credits are available based on the project.
- Business Expansion Incentive Program
For projects that are revenue positive to the state, this program allows annual cash payments ranging of up to $5 million over a 3-5 year period.