The bond package includes $60 million for economic and community development projects, with $10 million designated for affordable housing and $50 million for job creation programs.
Continued investment in job incentive programs with a proven track record in Oklahoma City are part of the new bond program. The City has experience working with employers who meet specific performance goals in return for incentives that make it possible for them to create new jobs.
Bond-funded redevelopment programs give investors an incentive to revitalize and restore once-struggling commercial areas. These targeted partnerships can be the start of a neighborhood transformation that attracts other private investments.
The ongoing effort to grow and diversify Oklahoma City’s economy and to redevelop promising neighborhoods and commercial districts ensures we’ll always have quality jobs for our residents. It’s important to have a growing employment base in a wide range of modern industries with promising futures.
Smart public investments that capitalize on other local advantages help Oklahoma City stay competitive in the global marketplace. Attracting and keeping employers that pay good wages and invest in the local economy benefits everyone who lives and works here.
Making targeted investments in older areas can help turn underperforming commercial districts into thriving hubs of small businesses serving and employing Oklahoma City residents, and lifting nearby neighborhoods.
Examples from the 2007 Bond Program
Bonds issued since 2007 have funded incentive programs that created 7,300 new jobs in Oklahoma City with an estimated annual payroll of $481 million added to the local economy. These bonds also helped spur nearly $800 million in private capital spending projects. Participating employers include General Electric, Boeing, AAA and Paycom, among many others.