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Comprehensive Economic Development Strategy for Central Oklahoma

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Comprehensive Economic Development Strategy for Central Oklahoma Association of Central Oklahoma Governments Comprehensive Economic Development Strategy for Central Oklahoma Prepared for the Association of Central Oklahoma Governments August | 2012 Skyline photo courtesy of Urbanative/wikicommons theory into practice | www.tipstrategies.com Theory Into Practice Page | i Association of Central Oklahoma Governments Acknowledgements Comprehensive Economic Development Strategy Advisory Committee Name Representing Name Representing David Anderson Canadian County Ken Bartlett Del City Richard Clements OGE Energy Corp. Rod Cleveland Cleveland County Laura Culberson Tinker Air Force Base David Dirkschneider Warr Acres Deidre Ebrey Moore Patricia Fennell Latino Community Development Agency Eddie Foreman Central Oklahoma Workforce Investment Board Tim Hight Eastern Oklahoma County Partnership Don Hudman Areawide Aging Agency of Central Oklahoma Willa Johnson Oklahoma County Rebecca Julian Mustang Chamber of Commerce Heather Kay Oklahoma State University–Oklahoma City Cathy O’Connor Alliance for Economic Development of Oklahoma City Tim O’Connor AFL-CIO (Central Oklahoma Labor Federation) Mike Ogan Greater Oklahoma City Chamber of Commerce Kristin Peck Cox Communications Robert Pittman Nicoma Park Ray Poland Jones Daniel Pullin University of Oklahoma Pat Ryan Oklahoma City Mark Sharpton Logan County Scott Smith Oklahoma Department of Career and Technology Education Chuck Thompson Central Oklahoma Regional Advocacy Alliance Valerie Thompson Urban League of Greater Oklahoma City Gena Timberman American Indian Cultural Center and Museum Kay Wade Logan County Economic Development Council Elizabeth Waner Edmond Earnest Ware Spencer Don Wood Norman Economic Development Council Devery Youngblood Chickasaw Nation Theory Into Practice Page | ii Association of Central Oklahoma Governments Association of Central Oklahoma Governments The Association of Central Oklahoma Governments (ACOG) is an organization of city, town and county governments within Central Oklahoma. ACOG’s purpose is to aid local governments in planning for common needs, cooperating for mutual benefit and coordinating for sound regional development. The ACOG region includes Oklahoma Cleveland, Canadian and Logan counties. ACOG serves as the Metropolitan Planning Organization and manages regional, environmental, economic development and livability programs. 9-1-1 ACOG administers the enhanced 9-1-1 system in Central Oklahoma. TIP Strategies TIP Strategies is a privately held Austin-based economic development consulting firm committed to providing quality solutions for public and private- sector clients. Established in 1995, the firm’s primary focus is strategic economic development planning. In addition, TIP has experience with entrepreneurship, target industry analysis, workforce, and redevelopment. TIP’s methods establish a clear vision for economic growth. Community leaders across the country have embraced the TIP model of Talent, Innovation, and Place to achieve successful and sustainable economies. Theory Into Practice Page | iii Association of Central Oklahoma Governments Contents ACKNOWLEDGEMENTS ..................................................................................................................................................................................................................... II CONTENTS ......................................................................................................................................................................................................................................... IV INTRODUCTION................................................................................................................................................................................................................................... 1 I. STRATEGIC PLAN .......................................................................................................................................................................................................................... 2 Goal One: Retain and expand existing businesses, and attract new businesses in the central Oklahoma region. ...................................................................... 3 Goal Two: Coordinate economic development efforts with regional partners. ............................................................................................................................. 9 Goal Three: Develop, retain, and attract talent. .......................................................................................................................................................................... 14 Goal Four: Enhance and promote quality of place. .................................................................................................................................................................... 19 II. ECONOMIC & DEMOGRAPHIC ASSESSMENT .................................................................................................................................................................................. 22 III. TARGET SECTOR PROFILES ......................................................................................................................................................................................................... 48 IV. PROJECTS ................................................................................................................................................................................................................................... 61 Investment Priorities ................................................................................................................................................................................................................... 61 Community Needs ...................................................................................................................................................................................................................... 62 V. SITE AND BUILDING REQUIREMENTS ............................................................................................................................................................................................. 85 Theory Into Practice Page | iv Association of Central Oklahoma Governments Introduction The central Oklahoma region is served by a number of established and respected economic development organizations. In fact, the efforts of the City of Oklahoma City and the Greater Oklahoma City Chamber have propelled the region into the national limelight. The purpose of this Comprehensive Economic Development Strategy (CEDS) is to provide the Association of Central Oklahoma Governments (ACOG) with guidance on enhancing the efforts of existing organizations and redefining its own role. Through its designation as an Economic Development District (EDD), ACOG can become a vital economic development partner for the central Oklahoma region. This CEDS was written with the recognition that ACOG can enhance the activities of existing organizations while supporting growth throughout the region. ACOG’s role as an economic development liaison, assisting in the coordination of regional initiatives and supporting infrastructure for major projects, opens new opportunities for all entities. After acquiring a grant from U.S. EDA, ACOG hired TIP Strategies, Inc., an economic development consulting firm from Austin, Texas, to assist in crafting strategies that will leverage the four-county region’s key opportunities. The findings and recommendations outlined in this document should serve as a framework for guiding regional economic development initiatives and the allocation of public and private resources to enhance central Oklahoma’s economic development efforts. To conduct this work, TIP toured the region, met with key stakeholders, analyzed economic and demographic trends, and reviewed relevant planning documents. The goals, strategies, and actions outlined in this report, if fully implemented, will go far toward positioning central Oklahoma as the northern anchor of the booming I-35 corridor and as one of the nation’s leading growth centers. TIP’s recommendations are based on our experience working in communities and regions across the country and applying our knowledge of economic development best practices for central Oklahoma. Theory Into Practice Page | 1 Association of Central Oklahoma Governments I. Strategic Plan An economic development vision of central Oklahoma based on the area’s potential to develop into a premier business destination is fully attainable. For this to occur, central Oklahoma must diversify its economy beyond its two major sectors: energy and government. Achieving this will require sustained and coordinated efforts from all the region’s economic development partners. Becoming more competitive with other metropolitan regions along the I-35 corridor is a necessary first step. The keys to central Oklahoma’s success will be in the provision of better sites to accommodate new companies, the development of an innovation-driven economy through partnerships with higher education institutions, and its ability to attract and retain a highly educated workforce. We believe that the following four goals provide a strong framework for specific strategies and actions that will lead central Oklahoma toward this vision: Goal One: Retain and expand existing businesses, and attract new businesses in the central Oklahoma region. Goal Two: Coordinate economic
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