OKC voters approve new downtown arena

Oklahoma City voters have given their approval to continue a one-cent sales tax to pay for the construction of a new downtown arena. This decision ensures that OKC will continue to host the Oklahoma City Thunder beyond the year 2050. It also opens doors to major concerts and other events at the new arena. 

In a statement, Mayor David Holt declared, "Tonight, we conveyed to the nation and the world that Oklahoma City is, and will remain, a Big League City." 

The new arena will be funded by a 72-month sales tax which goes into effect after the conclusion of the current MAPS 4 tax. The project will also receive $70 million in MAPS 4 funds and an additional $50 million from the ownership group of the Oklahoma City Thunder. 

“With this project we will be doing more than just building a world-class sports and entertainment complex, we will be propelling Oklahoma City toward the next generation,” said Thunder Chairman Clay Bennett. “This new home for the Thunder will serve as an iconic centerpiece of our vibrant and modern downtown and continue to represent the values of our city and its people.” 

Committing to a minimum expenditure of $900 million, the city has yet to finalize the specific location for the downtown arena. 

A recent study commissioned by the Greater Oklahoma City Chamber estimated the arena’s annual economic impact at $590 million while also supporting more than 3,000 jobs. The study estimated that construction of the new arena would generate more than $1.3 billion during the construction period and support more than 10,000 jobs.  

“This study, using real inputs from arena activity, makes it clear that the impact on our economy is significant,” said Christy Gillenwater, president and CEO of the Chamber. “There is an important impact to the families dependent on the arena activity – those that work in the building, along with restaurants, hotels and companies that provide goods and services to the arena.”  

The study also detailed the annual tax revenue impact of arena activity. Annual impact to the city of Oklahoma City is estimated at $9 million, Oklahoma County and school districts are $4 million, and to the state of Oklahoma, $17 million. 

“The numbers are an important consideration,” explained Eric Long, the Chamber’s research economist. “These are dollars that support basic services for residents. Attracting visitors for these events supports local jobs and important government functions like improving our streets, our public safety and taking care of human needs.” 

The temporary home for the Oklahoma City Thunder during the transition will be the Paycom Center, where all home games will be played until the new arena is ready for occupancy, no later than the beginning of the 2029-2030 National Basketball Association season. The Thunder's commitment to stay in Oklahoma City for 25 years takes effect upon their relocation to the new arena. 

Characterized as the smallest NBA arena in terms of square footage, Paycom Center also has the second-smallest capital investment among all NBA arenas. At 21 years old, it is approaching the age of the oldest arenas in the entire NBA.