GE example of economic development collaboration
This week Oklahoma City is celebrating with GE Global Research as they hold a grand opening for their Oklahoma City research center. The 95,000-square-foot research center near University Research Park is the company’s ninth global research center and the first one to be dedicated to one industry.
The shared celebration is one that started in 2013 when Oklahoma City was selected over several other large cities in the region heavily involved in the oil and gas industry. There were several factors for GE’s decision, including its proximity to other research entities, Oklahoma City’s depth in the oil and gas industry and tangible signs, like the MAPS initiatives, that we are committed to making our city great. Another large factor in GE’s selection was the economic incentive package put together through a collaborative effort of our city and state leaders and the chamber of commerce, and facilitated by The Alliance for Economic Development of Oklahoma City.
The package included purchasing land from the Urban Renewal Authority, using funding from the Health Center TIF and Gov. Mary Fallin’s Quick Action Closing Fund, site improvement incentives and being eligible for the Strategic Investment Program, which awards incentives based on new jobs.
Before ground was even broken it was evident that Oklahoma City would realize a great return on its investment. The local architecture firm Miles Associates was selected to design the facility while GE leased space in the research park. GE donated significant grants locally to groups like the Oklahoma Center for the Advancement of Science and Technology and the Oklahoma School of Science and Mathematics to enhance STEM education initiatives.
Read more at The Journal Record.
Read the full article at The Journal Record.