Assets

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.

Funded through:
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

Business-Friendly Workforce

  • 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

OKC ranks #1 for Best Large City to Start a Business

WALLETHUB



OKC ranks 10th in Best Cities for New Small Businesses

LENDING TREE



OKC ranks 4th among cities with the youngest entrepreneurs

LENDING TREE


INCENTIVES

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.
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