Tulsa passes historic economic development package
| Voters approve $885 million in business incentives, education and community development. |
Contacts: Sheila A. Curley, Tulsa Metro Chamber, 560-0258
Kim MacLeod, City of Tulsa, 596-7803
Voters in Tulsa, Oklahoma approved yesterday a one-cent sales tax increase totaling $885 million in business incentives, education and community development. In what city and county leaders are calling a historic vote intended to raise Tulsa's competitiveness among MSA's nationwide for prospective new business.
Tulsa County is a metropolitan area comprised of approximately 800,000 residents. The Tulsa's economy is diversified by a large base of aerospace, aviation, technology/ telecommunications and energy employers, many of which have experienced significant downturns nationwide over the last year.
"Working together, regional partners including area mayors and city managers, planners, business leaders, labor organizations and citizens developed a Vision for the future and proceeded with an economic development package to ensure jobs, continued progressiveness in the business community, education and quality of life," said Mayor Bill LaFortune, City of Tulsa. "Our citizens voted for our Vision and gave us the charge to move forward. Now is the time for Tulsa to capture the lead as one of America's most innovative cities. Today, Tulsa is at a major transition point and we have chosen to reinvest in and reinvent our community."
The Vision 2025 propositions totaling $885 million include:
Proposition 1: Boeing attracting quality jobs. Dedicates 40 percent of the penny sales tax to $350 million in incentives to land the final assembly site for Boeing's planned 7E7 jetliner. A decision by Boeing is expected later this year.
Proposition 2: American Airlines retaining quality jobs. Dedicates 2.5 percent of the penny or $22.3 million in incentives to retain and expand American's Tulsa maintenance center. American Airline's is the largest employer in the Tulsa region with approximately 8,300 employees and a $500 million annual payroll.
Proposition 3: Jobs/Education/Healthcare. Dedicates 40 percent of the penny or $350.3 million for economic development and both higher and K-12 education proposals. Proposition also includes updates to the highly valuable Tulsa County EXPO Square facility and a new and modernized convention and events center to sustain and grow Tulsa's meeting and events industry.
Proposition 4: Quality of Life. Dedicates 17.5 percent of the penny or $157.4 million for community enrichment projects, ranging from two low water dams, to new soccer fields, parks, museums, swimming pools and community centers. The low water dams stand to enrich the development of Tulsa's Arkansas River running next to the downtown region and connects Tulsa's suburban communities.
Tulsa residents enjoy unsurpassed beauty, a well-educated and talented workforce, cultural diversity and a pro-business environment. Forbes magazine recently ranked Tulsa as number one in the cost of doing business when compared with 150 MSA's nationwide. Tulsa remains 20 percent below the national average.
According to Chamber economist Bob Ball, Tulsa's cost of living is 6.3 percent below the national average and Tulsa County's per capita income is 15 percent above the national average.
"Tulsa's ability to attract, develop and retain business is never more relevant than in today's economy," said Ron King, chairman, Tulsa Metro Chamber. "From an economic development stand point, Tulsa is telling the rest of the nation that we are here to do business and Tulsa is well-positioned to compete and deliver on our promises."
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** Editor's Note: The State of Oklahoma passed a Right-to-Work initiative in 2001and is well-known for its cash-back, Quality Jobs Program.
Kim MacLeod 596-7803