Investing in economic development, strategically

In 2007, residents of Oklahoma City voted to create an economic development program that would allow Oklahoma City to add more jobs and diversify its economy. That program, which is modeled after the state’s successful Quality Jobs Program, is called the Strategic Investment Program, and it has been bringing more companies, more investment, and more jobs to Oklahoma City for almost a decade.

The Strategic Investment Program was created with accountability and transparency in mind. Only companies who meet certain payroll and employment thresholds can apply, and they only receive incentive funds after they have met their employment goals.

Consider its success since that time: since its founding, the Strategic Investment Program has created more than 4,200 jobs that would not have located in Oklahoma City otherwise. These companies have invested an estimated $929 million in capital improvements across the Oklahoma City region. These are jobs that would not exist without our investment. Many times it is the funds from the Strategic Investment Program that make a difference between a company investing here or elsewhere.

Next month, we have an opportunity to continue our strategic investments in Oklahoma City’s economy. Funding economic and community development programs are just one of the ways that we can invest in Oklahoma City, create jobs and diversify its economy through the 2017 general obligation bond and sales tax proposals. As we look back on the success of the Strategic Investment Program, voting yes on all 15 measures will allow us to continue our investment in a better Oklahoma City, strategically.

Sincerely,

Roy H. Williams, CCE
Chamber President & CEO

This article originally appeared in the August 2017 issue of The POINT!