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Looking back at 2023, there were many reasons to celebrate Oklahoma City’s growth and development. This year we hope to build on these successes and continue the city’s transformational momentum.
2024 will see further development of the MAPS 4 project from an economic development perspective, particularly in the Oklahoma City Innovation District. The Northeast Henrietta B. Foster Center for Small Business Development and Entrepreneurship, a new business support center aimed at accelerating the growth of minority-owned small businesses, is scheduled to begin construction later this year . The transformation of the Innovation District will support job growth in the region and across the city, creating a strong innovation infrastructure and entrepreneurial ecosystem that will help further diversify Oklahoma City’s economy.
In 2023, we completed a multi-year, community-driven study of Eighth Avenue South, the area south of Northeast Eighth Avenue between Lincoln Boulevard and Lottie, and we continue to implement the study’s recommendations. We look forward to starting implementation. We have worked to preserve existing cultural icons, weave new development opportunities into the community, and reimagine the vibrant commercial corridor along Northeast Fourth Avenue.
The future of the ARPA program is optimistic for 2024. Through partnerships with community organizations, the Alliance has several relief programs created to help individuals, entrepreneurs, and small businesses thrive post-pandemic. We have begun evaluating the program and look forward to providing continued long-term support to our community. We look forward to announcing more programs in the future.
Of course, you can’t predict economic development without mentioning that Oklahoma City voters approved a penny sales tax for the construction of a new public arena. The goal is to open in time for the Oklahoma City Thunder’s 2029-2030 season, although a location for the new venue is expected to be determined in 2024. To take advantage of synergies with the arena, it is important that the arena is located downtown. A new convention center, Scissortail Park, and more than 20 hotels have opened in the area since the Oklahoma City Thunder came to OKC.
We look forward to a year packed with economic development projects that will strengthen Oklahoma City and contribute to economic growth, but to make an impact, it will take all of us – community members, developers, and investors – to make an impact. is required. I look forward to working with you as we continue to transform Oklahoma City.
– Kenton Tsoodle is president of the Oklahoma City Economic Development Alliance.
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