FEBRUARY 2025 • OKCCHAMBER.COM
FILM INCENTIVES FUEL ECONOMIC BOOM IN OKLAHOMA, REPORT SHOWS
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IN THIS ISSUE: 6 8
More Accolades for OKC’s Film Industry Oklahoma City’s 2025 Economic Outlook 2024 Annual Report OKC’s 2025 Developments Promise Major Growth Across Key Districts
IN THIS ISSUE: 2024 Annual Report on page 12
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FILM INCENTIVES FUEL ECONOMIC BOOM IN OKLAHOMA, REPORT SHOWS
Oklahoma’s film and TV industry is having a significant impact on the state’s economy, generating revenue and creating jobs, according to a recently released report. For every dollar in incentives, the state sees $0.90 returned in tax revenue, and production companies spend a minimum of $3.33 on qualified expenses in Oklahoma. The results of the new economic impact study confirms what our industry is witnessing. The Filmed in Oklahoma Act of 2021 is producing very positive returns for our local companies and crew, our city, and the State of Oklahoma. The Oklahoma City Film Incentive Program launched in early 2023, can be stacked with the state program, and was instrumental in securing the production of “Twisters.” The $1 million Oklahoma City film rebate paid to “Twisters” generated over $60 million in direct expenditures in Oklahoma City alone. The rebate is also doing its job in supporting independent producers and storytellers that are working in the lower budget space. Six of the seven films prequalified to date are budgeted at $8 million or less, with some budgeted well below $1 million. We are definitely on the industry’s radar. Two years ago, the Oklahoma City Film and Creative Industries Office was established in partnership with the Greater Oklahoma City Chamber. The office has played a key role in attracting both major and independent
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film productions to Oklahoma City, boosting the city’s presence in the film industry. Since its opening, over $124.8 million in direct film spending has been recorded in Oklahoma City. The report, “Oklahoma’s Film and TV Industry: State-Level Incentives, Growth Prospects & Economic Contribution 2025 Update,” which was partly commissioned by the Oklahoma City Film and Creative Industry Office and written by Mark Snead and Amy Jones of RegionTrack, reveals that Oklahoma’s film incentive program has greatly increased film spending in the state. The report notes that Oklahoma’s film incentives have contributed to economic growth. In fiscal year 2021, spending under the program rose dramatically, from $31.8 million in FY2020 to over $187 million. From FY2021 to FY2023, total incentivized spending reached $484 million, averaging $161.3 million per year. Oklahoma’s $30 million incentive program has moved the state from 26th to 18th among the 38 states with film incentives. Expanding the incentive to $80 million annually would rank the state 12th, just outside the top 10 incentive pools of $100 million or more.
From 2019 to 2023, Oklahoma ranked 6th in employment growth (56.2%), 4th in total compensation growth (169%), and 9th in annual compensation per worker (72.3%). Among the 38 states with film incentives, Oklahoma had the best overall performance in employment, compensation, and average wages. Nationally, the average compensation in the film industry rose to $120,300 per worker in 2024. Oklahoma experienced a 46% increase in film establishments, a 49% rise in employment, and a 135% surge in total wages. The state also recouped $41.6 million in tax revenue, recovering $0.90 for every dollar spent on incentives.
Congratulations to Chamber members on their recent Grand Openings! To see the schedule of upcoming Grand Openings or subscribe to the Grand Openings calendar, visit okcchamber.com/grandopenings. GRAND OPENINGS
Innovation District 316 NE 9th St. OKC, OK 73104
Dave & Busters 5501 N. May Ave. OKC, OK 73112
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A New Noninvasive Treatment for Essential Tremor OU Health is the first and only health system in Oklahoma to offer an incisionless treatment for patients with medical refractory essential tremor that can result in improvement in hand, head and body shaking as well as increased mobility through a same-day treatment. Called “Focused Ultrasound,” the new technology is for essential tremor patients who have not responded to medication, or who cannot take it. Focused ultrasound for essential tremor is an FDA-approved, non-invasive procedure that’s transforming patient care. The procedure uses ultrasound waves to target the specific areas of the brain responsible for tremors. Guided by MRI, the soundwaves pass safely through the skull and soft tissues to focus heat on only the targeted area, providing relief from symptoms. With no surgical cuts or permanent implants necessary, there is minimal to no risk of infection, and the treatment is often performed on an outpatient basis. Many patients can expect to resume normal activities within days.
OU Health is proud to be the first in Oklahoma to offer this revolutionary treatment.
OU Health Physicians — Neurosurgery Clinic 1000 N Lincoln Blvd, Suite 4000 Oklahoma City, OK 73104 (405) 271-4912
To make an appointment or for more information, visit us at OUHealth.com/EssentialTremor
LEADERSHIP NOTES
Oklahoma City is thriving, and our community is growing stronger every day. According to the U-Haul 2024 Growth Index, Oklahoma was recently announced as the 11th fastest-growing state in the nation, jumping 30 spots from last year, the largest increase of any state. Oklahoma’s growth reflects a net gain in one-way arrivals, with more customers moving into the state than leaving. This impressive shift reflects a broader trend of people discovering the many opportunities our state offers. For us, this growth isn’t just about numbers; it’s about welcoming new neighbors, new businesses and expanding the vibrant amenities that make Oklahoma City such a special place to live, work and thrive. The state saw more people moving in than out in 2024, with U-Haul reporting that 50.4% of all one-way traffic in and out of Oklahoma was headed our way—a sign that people are recognizing what we’ve long known: Oklahoma City offers a high quality of life, diverse job opportunities, affordable living and a promising future. As we experience this influx of talent, new businesses and families, we’re not only growing in population but also in our economy and the places that make Oklahoma City feel like home. Cities like Edmond, Mustang and Yukon are also booming, offering fresh opportunities for local businesses and new residents alike. Continuing to build on this momentum and embrace the opportunities growth brings is crucial. Together, we’re building a community that is engaged, collaborative, dynamic and ready for the future. Growth means new possibilities, more connections and the continued development of the place we’re all proud to call home. Let’s keep growing intentionally together and planning for opportunities associated with our trajectory. CONTENTS 12 Film Incentives Fuel Economic Boom in Oklahoma, Report Shows 17 Visit OKC Drives Growth and Visibility for OKC’s Tourism and Convention Market 10 Mike Jackson Shares Key Priorities for Oklahoma’s 2025 Legislative Session 21 OKC No. 1 Lowest Cost of Living Among Large Cities
CHRISTY GILLENWATER President & CEO
READ CHRISTY’S VELOCITYOKC ONLINE STORY OF THE MONTH
Paycom Center sets record for concerts and ticket sales in 2024 VELOCITYOKC.COM/ CHRISTYSPICK
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UPCOMING EVENTS CALENDAR (Events are subject to change. Consult okcchamber.com/events for the most recent updates.)
MAY 14 Chamber Forum 11:30 a.m. - 1 p.m. The Petroleum Club
Oklahoma City has been listed as No. 13 on MovieMaker Magazine’s 2025 list of “The Best Places to Live and Work as a Moviemaker” in the U.S. and Canada. This recognition coincides with the Oklahoma Film & Music Office’s official designation of Oklahoma City as a film-friendly city last week. Mayor David Holt celebrated the achievements, stating, “We truly are the capital of film for this state and remain enthusiastic about growing this industry. The Oklahoma City Film and Creative Industries Office, established two years ago in partnership with the Greater Oklahoma City Chamber, has been instrumental in elevating the city’s status in the film industry. “Oklahoma City’s inclusion on MovieMaker’s list of Top 25 North American cities after only two years of the office’s existence is incredible,” said Jill Simpson, executive director of the Oklahoma City Film and Creative Industries Office. “Over the past couple of years, the State of Oklahoma and the City of Oklahoma City have worked in tandem to change the landscape for filmmakers wanting to live and work here. Their continuing support is vital.” Oklahoma City served as both a home base and filming location for the summer 2024 blockbuster Twisters, further solidifying its reputation as a go- to destination for major productions. With a strong local workforce - over 600 crew members representing 30% of the state’s total crew base - and state-of- the-art facilities like Filmmakers Ranch, Boiling Point Media, One Set Studio and Apex Post offering top-tier resources for production and post-production work, Oklahoma City is competing at the national level to be a destination for filmmakers. “Studios and indie production companies are always looking to the jurisdictions with the best incentives and infrastructure to support their projects,” Simpson said. “They also want to know that past productions filmed here have had a good experience.” A key driver of this momentum is the city’s innovative 5–10% cash rebate, launched in 2023, which stacks with Oklahoma’s statewide 20–30% rebate. This financial incentive has been critical in attracting both studio blockbusters and locally produced independent projects. Additionally, the Oklahoma City Film Office collaborates with city officials to expedite rebate applications, often cutting approval time down to just a few days. Oklahoma City Ranks as Top 13 Filmmaking Center in North America
100 N Broadway Ave., Suite 3400 Oklahoma City, OK 73102-8869 OKCChamber.com/MayForum JUNE 18
Chamber Forum 11:30 a.m. - 1 p.m. The Petroleum Club
100 N Broadway Ave., Suite 3400 Oklahoma City, OK 73102-8869 OKCChamber.com/JuneForum JUNE 2025 InternOKC Time and Location TBD OKCChamber.com/InternOKC JULY 16 State of the City 11:30 a.m. - 1 p.m. Oklahoma City Convention Center 100 Mick Cornett Dr. Oklahoma City, OK 73109 OKCChamber.com/City
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Visit OKC’s Destination Sales and Services team recently attended the Professional Convention Management Association’s (PCMA) Convening Leaders conference, this year hosted in Houston. At the conference, Visit OKC had a booth featuring a roaming robot branded with its logo, allowing attendees to take selfies with a Visit OKC logo frame. Vice President of Convention Sales and Services Shaun Yates shared, “These shows are important because it’s a way for us to get our brand out there.” Tourism is a major contributor to Oklahoma City’s economy, ranking as the third-largest industry in the state. The Visit OKC Destination Sales and Services team is instrumental in driving the tourism community and convention market in Oklahoma City. The team is crucial to expanding the Visit OKC brand and attracting new clients through participation in trade shows. After each show, the team evaluates key metrics such as ROI, leads and contacts to gauge the overall success for the city. “Luckily, I don’t have a team who relies on the rinse and repeat of ideas,” Yates noted, highlighting their innovative approach. VISIT OKC DRIVES GROWTH AND VISIBILITY FOR OKC’S TOURISM AND CONVENTION MARKET
“It’s crucial for us to find new business and ensure we’re setting our city up for long-term success,” Yates said. “We’ve seen a lot of positive changes over the past few years, but it’s also our responsibility to inject life into the city, attract new businesses and ensure our stakeholders see consistent business throughout the year.” It is vital for the team to support community partners to retain businesses and foster continued growth. Yates is optimistic the team will continue to build on these efforts by participating in new and diverse shows, while creatively increasing the brand’s visibility. While most of the shows are domestic, with a strong market focus on the Midwest, Texas and D.C., Yates’s leisure sales team also manages some international travel. Together, the team attends roughly 45 shows each year. The Destination Sales and Services team works hard to keep Oklahoma City buzzing with convention business. Despite being the 20th largest city in the U.S., Yates shared many people still don’t fully realize the amenities Oklahoma City has to offer, stating, “That’s why it’s so important for us to get people on-site, so they can touch, taste and feel the city for themselves.” The roaming robot for Visit OKC's booth was wrapped in the Visit OKC logo and its branding.
Visit OKC's Destination Sales and Services team represented Oklahoma City at the 2025 Professional Convention Management Association's (PCMA) Convening Leaders conference.
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OKLAHOMA CITY’S 2025 ECONOMIC OUTLOOK
JOB GAINS TODAY AND PROSPECTIVE LABOR FORCE FOR FUTURE POSITIONS OKLAHOMA CITY FOR LONG RUN SUCCESS Oklahoma City’s steady job growth, younger-than- average population and role as the state’s economic driver position the metro for long-term success, according to the 2025 Greater Oklahoma City Economic Outlook. The study, completed by Russell Evans, partner and chief economist for Thorberg Collective, and Eric Long, research economist for the Chamber, projects a 2.5% increase in metro job growth for 2025, adding 18,200 jobs. The Oklahoma City Metropolitan Statistical Area (MSA) continues to drive the state’s economy, contributing nearly 40% of the state’s GDP and over a third of its population. Economic activity is dispersing across the metro, with Oklahoma County’s share of GDP falling to 70% and population dipping below 55%. Growth is focused in the south and west, where Canadian and McLain counties have seen annual population growth of 3.3% and 2.5%, respectively, and economic growth rates of 6.5% and 7.2% since 2013. This trend is expected to continue as Oklahoma City leads state economic growth while Oklahoma County’s share gradually decreases. Real per capita income and GDP in the Oklahoma City MSA are expected to grow modestly in 2025, with income growth meeting or exceeding U.S. averages. With 21.4% of the population aged 10-24, Oklahoma City is well positioned for future growth. LOOKING BACK AT 2024 In 2024, the Oklahoma City metro economy saw a 2.1% year-over-year increase in nonfarm jobs – or 14,700 positions. The largest job gains were in education & health (6.6%), construction (6.5%), leisure & hospitality (5.3%), other services (4.0%), government (2.6%) and mining/oil & gas (1.0%). Declines occurred in
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national average of 14%. The metro has over 70 million square feet of office space, with more than 400,000 square feet under construction. Asking rates average $20.32, ranging from $16.75 to $24.14. STATEWIDE OUTLOOK Oklahoma is expected to add 42,000 jobs in 2025, with nonfarm employment gains averaging 3,500 new jobs per month, a 2.3% growth rate. Job growth will be concentrated in metro areas and labor-intensive service sectors. Construction and oil and natural gas will also see strong growth. Oklahoma’s population is growing at nearly double the U.S. pace, supporting real estate, labor and consumer markets. With average prices 12% lower than the national average and inflation under 2%, the unemployment rate is expected to stay between 3.5% and 4%, while local inflation remains below 2%.
information (-2.1%), finance (-2.0%), professional business services (-1.7%), manufacturing (-1.5%) and trade, transportation and utilities (-1.0%). REAL ESTATE OUTLOOK The CoStar Industrial Market Report (January 2025) shows Oklahoma City has 152 million square feet of industrial space, with rent growing by 0.4%, below the 10-year historical average of 4.7%. The vacancy rate is 5.3%, expected to remain steady. Currently, 610,000 square feet of industrial construction is underway, primarily in the Southeast Submarket. Unlike past construction waves, the current construction is mostly speculative. The office market saw flat rent growth, underperforming the U.S. average of 1.2%. However, Oklahoma City’s vacancy rate of 9.6% outperforms the
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MIKE JACKSON SHARES KEY PRIORITIES FOR OKLAHOMA’S 2025 LEGISLATIVE SESSION
million, but we hit that cap every year. We’ve proposed a $20 million increase and extension to ensure projects like OAK and The National come to fruition. This is also crucial for rural Oklahoma. The Quality Events Act has also been successful, with a key win being the relocation of Cattlemen’s Congress to the state fairgrounds from Denver. Programs like the Quality Events Act not only help our region but also offer future possibilities for surrounding areas. The Chamber helped create the act in 2010 and has supported updates to enhance its usability and effectiveness in the future. The Aerospace Engineer Tax Credit, reviewed by the Incentive Evaluation Commission, demonstrated a strong return on investment. In 2017, for every $1 Oklahoma spent on credit, the state saw $89 in return. This tax credit has proven to be a highly profitable investment, generating significant economic benefits for the state. Q: What legislative actions will you support to foster innovation, and how can the state better support research partnerships between businesses and universities? Last year, we expanded a committee to focus on research and development, exploring federal funding and innovation with partners. We have a bill with Senator Kelly Hines to mirror the federal BioSecure Act. Our goal is to foster BIO innovation in the biospace while protecting Oklahoma’s assets. This will be challenging, but I’m excited about the potential to put something in place for the future.
As the 2025 legislative session unfolds, the Chamber’s Senior Vice President of Government & Community Relations Mike Jackson shares his insights on key priorities for Oklahoma’s future. In this Q&A, Jackson discusses several legislative initiatives, such as ensuring the state’s economic development programs stay competitive,
MIKE JACKSON
fostering innovation through research partnerships, improving educational outcomes and more. Jackson’s responses highlight a commitment to shaping a prosperous, forward-thinking Oklahoma through strategic legislative action. Q: How do you envision empowering local governments to tailor their structure and functions to better serve communities? County government reform is a top priority. A bill moving through the legislature targets efficiencies in Oklahoma’s two largest counties—Oklahoma and Tulsa— by improving county services, enhancing effectiveness and protecting taxpayer dollars. The bill applies only to counties with populations of 500,000 or more. Q: How do you plan to ensure economic development programs remain competitive and continue to attract businesses to Oklahoma? Several programs, including the Tourism Development Act, Quality Events Act and Aerospace Engineer Tax Credit, are set to sunset either at the end of this year or mid-next year. We are working to extend these successful programs. The Chamber raised the Tourism Development Act cap from $15 million to $30
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Q: How can Oklahoma improve education outcomes and workforce readiness for future generations? Education and the workforce are critical to our state. One key issue from our committee discussions is Oklahoma’s lack of a Statewide Longitudinal Data System. It’s believed Oklahoma may be the only state without a system that tracks students from pre-K through college. Without this system, we cannot track outcomes or understand the student’s learning capacity throughout their education. Several pieces of legislation in 2025 aim to address this, ensuring systems at higher ed, career tech and K-12 can communicate, allowing us to track a student’s achievements throughout their education and career path. Q: How will you ensure aspects like longer days, summer programs and after-school initiatives improve student learning capacity outcomes in literacy and academic performance? During and after the pandemic, there was a push toward four-day school weeks, along with a reduction in required instructional hours. Oklahoma has one of the lowest numbers of instructional days. As other states increase the number of school days to focus on STEM, math and reading, we’ve reduced the number of instructional days. Despite record funding, our National Assessment of Educational Progress (NAEP) scores have decreased, which can be attributed to less time in the classroom. We’ve heard some larger school districts are considering four-day weeks, which would send a bad message to other schools. We’re working to push back against that idea.
Q: What steps will you take to secure the Rebuilding Oklahoma Access and Driver Safety (ROADS) Fund is sufficient to support Oklahoma’s transportation system and meet the increasing demands on infrastructure? The eight-year plan, started in 2006, has successfully improved roads and bridges. From 1980-2006, Oklahoma had the highest number of deficient bridges, and we hadn’t increased infrastructure funding until recently. This year, there is a major effort to boost that funding. For example, since 2019, inflation in road and bridge construction has been 63%, so we’re working to preserve buying power and increase funding. This will allow us to continue the major infrastructure improvements we’ve seen over the last 20 years. The Chamber and our transportation committee support adding about $60 million to the ROADS Fund, led by Sen. Avery Frix and Rep. Nicole Miller. This effort has transformed Oklahoma City, and we aim to maintain this progress in the future.
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2024 ANNUAL REPORT GREATER OKC CHAMBER'S ECONOMIC DEVELOPMENT DEPARTMENT DRIVES GROWTH IN 2024
2024 was a standout year for economic development in Greater Oklahoma City, marked by substantial growth and the diversification of job opportunities across multiple sectors.
Oklahoma City is rapidly evolving into a hub for talent development, with a strong focus on preparing individuals for the demands of a dynamic economy. The Chamber launched the state’s first chapter of FAME in partnership with three employers and OSU-OKC, which invested $1.4 million to create the Advanced Manufacturing Lab. OKCFAME offers local students classroom education and hands-on experience for careers in advanced manufacturing. The Chamber’s 2024 Business & Talent survey also revealed key trends empoyers are focused on in their future workforce: • New jobs in 2025 will demand talent in professional, customer service, and engineering roles. • There’s a growing emphasis on “soft” skills across industries. • Employers seek critical thinking, problem-solving, and communication from K-12 students. • Problem-solving, tech skills, and project management are valued in higher education graduates. • Employers want to engage with K-12 institutions to raise awareness of industry opportunities.
Chamber assisted companies announced plans for the creation of nearly 6,000 jobs in industries ranging from aerospace, manufacturing, transportation, professional services and more. Highlights include MyDefense A/S, a Danish aerospace technology manufacturer, expanding to OKC, and Nortek Data Center Cooling creating 400 new jobs. The Chamber also continued to focus resources onpreparing Oklahoma City’s workforce for the future. • 5,888 total jobs • $61,029 average wage • $359,340,975 total payroll • $664,865,000 total capex • $33,461,360 local tax revenue • The Chamber assisted in 100 recruitment and BRE projects.
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THE CHAMBER RELAUNCHES LIFE SCIENCE OKLAHOMA Last year the Oklahoma life science industry relaunched its industry association, Life Science Oklahoma (LSOK). The association is now based at the Chamber and led by Executive Director Michelle Gregory. Formerly known as OKBIO, LSOK has a new format and a renewed focus to support businesses and organizations within the Oklahoma life sciences and healthcare communities. Oklahoma boasts more than $316 million in annual bio-related university and biomedical institution R&D expenditure and is home to over 563 bio-related establishments. The sector supports more than 31,000 workers and is experiencing a 10% employment growth. Life Science Oklahoma will be an important advocate for the state’s dynamic and diverse life sciences and healthcare communities. It is committed to bringing national and international awareness to key areas of the state’s biotech, drug manufacturing, agricultural science, veterinary medicine and healthcare industries, including therapeutics, diagnostics and biomanufacturing; medical and health technologies; and health and clinical care.
OKLAHOMA CITY’S RETAIL TRANSFORMATION AND GROWING APPEAL AS A DESTINATION FOR SHOPPERS AND INVESTORS Oklahoma City’s retail scene is undergoing an exciting transformation, fueled by high-profile developments like OAK and OKANA. These landmark projects are reshaping the market, bringing exciting new possibilities for businesses and enhancing the city’s retail environment. Several major announcements and openings have contributed to this transformation, with highly anticipated dining experiences, attractions and retail markets making their way to Oklahoma City. This includes the upscale dining destination Capital Grille, Brazilian steakhouse Fogo de Chão, Tommy Bahama Marlin Bar, the Truck Yard and Andretti’s Indoor Karting & Games, as well as retailers like Urban Outfitters, Pottery Barn and Dick’s House of Sports. A major part of Oklahoma City’s retail recruitment strategy is telling OKC’s story to the nation through trade shows and speaking engagements at key industry events. In 2024, the Chamber took part in more than 15 such events, including ICSC Las Vegas and ICSC NY. At the ICSC event in Las Vegas, Mayor David Holt was in attendance and the Chamber hosted a luncheon with more than 50 retail professionals from Oklahoma City. This gathering not only underscored the city’s expanding retail presence but also demonstrated its importance in shaping national retail trends. 2024 highlighted Oklahoma City’s rapid rise as a retail hub. With the addition of more premium offerings, the city is increasing its appeal as a top destination for both shoppers and investors looking to tap into a growing market.
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OKC'S KEY ADVOCACY WINS IN 2024
and secured $10 million for Business Recruitment and $20 million for Governor’s Quick Action Closing Fund. • Engaged in “Oklahomans for Business and Property Owners’ Rights Coalition,” successfully blocking troublesome gun-related measures. common education (K-12) and preserved the Oklahoma Prevention Needs Assessment (OKPNA) student survey. • Protected funding for ODOT’s • Secured funding for 8-year construction plan for projects in Oklahoma City. Although the Chamber’s FAA legislation did not advance, federal funding for the Mike Monroney Center was secured. The Chamber PAC also had a successful year, with an 85%-win rate in 45 of 53 races and a 100%-win rate in the 2024 general elections, ensuring more pro-business candidates will serve in the legislature. The Chamber’s Director of Education Rhonda Baker passed the new Graduation Requirements law in 2024, when she was a legislator. The updated requirements will better prepare students for their future. While maintaining the same number of required courses, the law ensures these are more relevant and rigorous. It also increases the required math credits to four and introduces “pathway units,” offering students a more tailored high school experience to better prepare them for college, careers or military service.
In 2024, Oklahoma City saw significant advancements in advocacy across key sectors, including tourism funding, government relations and education reform, positioning the city for continued growth. For tourism, the Promote OKC initiative, spearheaded by the Chamber, helped increase Oklahoma City’s new hotel tax rate from 5.5% to 9.25%. This increase is expected to generate nearly $11.6 million annually, allocated as follows: • 75% tourism promotion • 13.3% event sponsorships • 6.7% OKC Fairgrounds • 5% OKC Convention Center The Chamber’s Government Relations team successfully advocated for the business community during the 2024 legislative session, achieving several key successes: • Helped protect key economic
development incentives to recruit companies and help them grow.
• Advanced Commerce
Department Reform efforts
Visit OKC's Fiscal Year 2024 (FY24) Annual Report, covering July 2023 to June 2024, highlights the significant economic impact of tourism in the city. During the calendar year of 2023, visitors to Oklahoma City generated an annual economic impact of $4.5 billion from 24.1 million visitors. This influx of tourists generated $358 million in state and local tax revenue, relieving residents of $1,326 in taxes each year. Visit OKC’s efforts have proven highly effective, with each dollar received by Visit OKC VISIT OKC'S FY24 REPORT HIGHLIGHTS ECONOMIC IMPACT AND STRONG TOURISM GROWTH Visit OKC’s Sports Development team showcased Oklahoma City’s ability to host major events in FY24, attracting visitors nationwide. • The US Olympic Team Trials for Canoe Slalom and Kayak Cross made its second appearance in Oklahoma City, attracting nearly 50 athletes competing for spots at the Paris Olympics. The event, streamed nationally on Peacock, highlighted the city's capacity to host elite events at Riversport. • The 24th OKC Memorial Marathon set a post-COVID record with 22,224 participants and registrations from all 50 states and 15 countries. The event had a $14 million economic impact, supported by a crowd of 57,000 at the Health & Wellness Expo. OKLAHOMA CITY HOSTS MAJOR SPORTS EVENTS, BOOSTING TOURISM AND ECONOMIC GROWTH IN 2024
returning $68.55 to the city. This strong return on investment demonstrates the vital role tourism plays in Oklahoma's economy, as the industry is Oklahoma's third largest. FY24 ANNUAL REPORT HIGHLIGHTS • 34,897 total employment • $2.7 billion direct travel spending • 269 groups, conventions, sports and equine events provided with servicing support by Visit OKC in FY24 • 290,669 hotel room nights booked by convention and sporting event sales efforts • 206 published news articles touting OKC as a travel destination • Nearly 2 million VisitOKC.com unique visitors • 47 million social media impressions generated • The Savannah Bananas sold out for a second year, drawing 28,745 fans over three nights, with over 55,000 on the waiting list. Their games reached 349,000 views on YouTube, with clips garnering 21 million social media views. • US Rowing’s RowFest National Championships combined two national championship events for the first time, attracting 1,600 athletes from across the country. Total attendance reached over 17,000 over a nine-day span, and the total economic impact was $3.5 million. • The NCAA Women’s College World Series had 109,748 attendees, with the championship games setting viewership records of over 2 million on ESPN. Games one and two reached the 2nd and 3rd spot for most viewed softball games in ESPN+ history, and the University of Oklahoma team won its fourth NCAA National Championship in a row. These events emphasize the city's growing reputation as a premier event destination.
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OKC BECOMES A KEY DESTINATION FOR FILM PRODUCTION AND TALENT
One standout for Oklahoma City’s film sector was the release of Twisters, which grossed over $370 million worldwide. The film alone impacted the regional economy, with more than $60 million spent on production in the city. This resulted in an estimated $258 million in total economic activity, including jobs for over 300 local vendors and 370 crew members. The project also accounted for 28,000 hotel nights. Since the Oklahoma Film + Music Office opened two years ago, Oklahoma City has seen more than $124,837,900 million in direct film spending. The office has participated in industry recruitment events across the country, as well as assisted with the State’s Film Friendly Workshops that help local communities prepare to host film projects. In 2024, the Oklahoma City Film & Creative Industries Office partnered with the state office and Locations Unlimited to host two Film Friendly workshops tailored for downtown businesses and residents. More workshops will be rolled out for other districts in the future. As the city's film industry continues to expand, it is solidifying its role as a vital player in national film and an economic driver for the city and region. providing cost savings and revenue gains for LA28. LA28 is confident the Oklahoma City community will support these Olympic events, as they have with previous competitions. All proposed venue changes have been assessed with each International Federation, and the IOC Executive Board has approved these venue assignments, pending approval from the City of Los Angeles. Changes for Paralympic venues will require approval from the IPC Governing Board. During this time of immense hardship, the Chamber extends its deepest sympathy to Los Angeles, and everyone affected. As we continue to work together on the LA28 Olympic Games, Oklahoma City stands ready to offer support. We are committed to helping LA create the best games possible, and we believe in the city’s resilience. Right now, LA needs a win—and we are here, as partners, to help make that happen.
Oklahoma City is becoming a key player in the U.S. film industry, with Moviemaker magazine ranking it as 2025’s 13th best place to live and work as a moviemaker. The city's rise in film production boosts the local
economy and strengthens national presence. As more high-profile productions choose Oklahoma City for film, the city's influence in the industry continues to grow, attracting major studios and independent filmmakers. The Oklahoma City Film and Creative Industries Office, established two years ago with the Chamber, has been key in elevating the city’s film industry. The LA28 Olympic and Paralympic Games announced plans to stage Canoe Slalom and Softball competitions in Oklahoma City instead of building temporary venues. Southern California lacks a Canoe Slalom venue, and the largest Softball venue seats fewer than 2,000 people, not meeting the expected spectator demand for the Games. The City of Oklahoma City, the Greater Oklahoma City Chamber, RIVERSPORT OKC and USA Softball have been collaborating with LA28 to develop a plan to host Canoe Slalom and Women’s Softball events. Both Oklahoma City venues are built to international competition standards, ensuring a high-quality experience for athletes and fans while OKC CHOSEN FOR KEY EVENTS IN LA28 OLYMPICS
The Oklahoma County Criminal Justice Advisory Council (CJAC) marked significant progress as it completed its sixth fiscal year on June 30, 2024. Overcrowding at the Oklahoma County Detention Center (OCDC) decreased, with the jail population reaching a record low yearly average of 1,385 inmates in FY24. The decline began in November 2023 when the population fell below 1,300 for the first time. By December 2023, the monthly average hit 1,289, the lowest in 27 years. Despite a 3.2% population growth in Oklahoma County since 2015, the jail population is no longer the highest in the state. The reduced jail population contributed to a nearly 48% drop in the number of Oklahoma County residents sentenced to prison by the Department of Corrections (DOC) since 2018. To further address overcrowding, the county expanded diversion programs, focusing on individuals with mental health and substance use disorders, and connecting them with services earlier in the criminal justice process. Oklahoma County also made strides toward a new jail, purchasing land at 1901 E. Grand Blvd. for a Behavioral Care Center (BCC) to address the mental and behavioral health needs of justice- involved individuals. Construction is expected to begin in FY25, though challenges related to costs and zoning remain. PROGRESS IN CRIMINAL JUSTICE: CJAC'S SUCCESSFUL EFFORTS TO REDUCE JAIL POPULATION
2024 MEMBERSHIP OVERVIEW: GROWTH, ENGAGEMENT AND IMPACT • 2,365 Total Members • 88% Membership Renewal Rate • 208 New Members • 57 Grand Opening Events • Eight Meet & Mingle events with 910 Attendees • Eight Board of Advisor Small Group Meetings with 743 attendees • Executive Fireside Chat with Congresswoman Stephanie Bice for Partner Level Investors & Above with 102 attendees • Two Executive Chamber Connection events with Government Relations Team for Emerging Leader Investors & Above with 128 total attendees • Four Chamber Connection Events for New Member Orientation
6 • 2024 ANNUAL REPORT
As the new year begins, Oklahoma City is set for exciting growth. While several districts have recently completed major developments, many others are on the brink of new projects to further enhance the city’s vibrancy and drive expansion. The Downtown Oklahoma City Partnership (DOKC), a key nonprofit supporting the city’s growth, has played a crucial role in many of these developments. Behind the scenes, DOKC manages the Downtown Business Improvement District, which works to ensure the city’s districts meet the growing demands of the economy, helping attract visitors, residents and retailers while aligning with a unified vision for the entire downtown area. OKC’S 2025 DEVELOPMENTS PROMISE MAJOR GROWTH ACROSS KEY DISTRICTS MAPS 4-FUNDED PALOMAR The $42 million Palomar building, funded through MAPS 4, will be constructed on land donated by Midtown Renaissance Group—led by Bob Howard, Mickey Clagg and Chris Fleming—across from the current location at NW 11th and Hudson Avenue. Palomar, a nonprofit supporting survivors of domestic violence, sexual abuse and human trafficking, will expand its services with the new facility. It will feature 24-hour victim assistance, therapy, medical services, child services and a food pantry. Construction is set to begin this year, with the Economic Development Trust and City Council approving $1.9 million to help cover costs. The existing 28,000-square-foot office building will eventually be demolished for further development. Midtown Renaissance is also seeking $1.9 million in tax increment financing for a 309-space parking garage to serve Palomar and the Midtown area, offering 130 free spaces for Palomar clients and additional public spaces.
Construction of the garage is expected to be completed before the new Palomar building opens. ALLEY’S END Alley’s End, located at NW 4th and E.K. Gaylord, will be the largest affordable housing development in downtown Oklahoma City history. Developed by Tradesmen Architectural Studios and built by Willowbrook Construction, it consists of a pair of five- and six-story buildings to house tenants with incomes capped at 60% of the area’s median income, approximately $37,000. BOARDWALK AT BRICKTOWN Boardwalk at Bricktown, developed by Scot Matteson, is advancing with Phase 1, which includes two 23-story towers, Ruby and Emerald, above a parking and retail podium. This phase will feature 576 market-rate apartments, 140 workforce apartments and a 22-story Hyatt Dream Hotel with 480 rooms and 85 residential condominiums. A second phase will introduce Legends Tower, set to be the tallest building in the country at 1,907 feet. Matteson is partnering on the project with Brad and Randy Hogan, developers of Lower Bricktown. However, the Federal Aviation Administration is reviewing the tower’s height due to flight operation concerns based on its height, delaying construction until approval. If the tower proceeds, construction is expected to begin the first quarter of this year.
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THE HARLOW Developer Gardner Tanenbaum’s $70 million redevelopment of the historic Tradesmen National Bank and Medical Arts buildings into The Harlow will create a mixed-use complex with 265 residential units and over 4,300 square feet of retail and restaurant space. Located at 101 N. Broadway Ave. and 100 Park Ave., the two buildings will be connected by The Underground and linked to the First National Center. Named after 1920s movie star Jean Harlow and inspired by The Great Gatsby, the development will keep the buildings’ original architectural features, adding modern amenities. The complex will include one- and two-bedroom apartments, with an on-site movie theater, bowling alley, dog park, rooftop balcony and dedicated workspaces. The ground floor will contain retail shops and restaurants, with more amenities on the lower levels. Construction is already underway, with the first building expected to be completed by March 2025 and the second by June 2025.
ROBINSON RENAISSANCE Gardner Tanenbaum is transforming Robinson Renaissance–12-story, 174,140-square-foot twin vintage office towers–into upscale residential space. The towers will undergo significant redevelopment since their initial build in 1927. Apartment living will be on floors three through 11, while the basement food court, first floor and second floor will remain unchanged. The buildings were acquired for $10.25 million from the Commissioners of the Land Office, who had purchased the buildings for $8.95 million in 2014. The building has remained mostly vacant since but will now contribute to the area’s expanding housing market. Oklahoma City saw significant progress in 2024 with major projects like the $287 million upgrade of the First National Center, the $70 million renovation of Cotter Ranch Tower into BancFirst’s headquarters and the rebranding of SandRidge headquarters to Strata Tower. The Citizen development, including The Verge OKC and Citizen House, added new amenities to City Center, alongside Phillips Murrah’s expansion in Midtown. Oklahoma City’s 2025 developments promise continued growth and exciting projects, including the MAPS 4-funded Multipurpose Stadium, the Oklahoma City Arena and Alley North–all beginning in 2025 after years of planning. With these projects on the horizon, Oklahoma City will grow further as a thriving city.
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WELCOME NEW MEMBERS
Businesses who join the Greater Oklahoma City Chamber are part of the largest coalition of businesses in the state and make the Chamber’s work in the community possible. Each member level is identified on the listing below.
ADVISOR
ASSOCIATE BR Custom Homes & Handyman Home Builders Mr. Demetrius Bell......................(405) 849-6469 14640 Bogert Parkway Oklahoma City, OK 73134-2643 www.brcustomehomes.com/
instaScript, LLC Legal Services Ms. Lori Harstad...........................(405) 605-6880 125 Park Ave., Suite LL Oklahoma City, OK 73102-9110 www.instascript.net
Titan Title & Closing Platinum, LLC Title Companies Title Insurance Ms. Dawn M. Brooks................(405) 898-0704 1225 N. Broadway Ave., Suite 104 Oklahoma City, OK 73103-4826
CORE
Advanced Network Design, Inc. Computers - System Designers & Consultants Information Technology - Consulting Mr. Josh Woods..........................(405) 606-6060 9520 N. May Ave., Suite 210 Oklahoma City, OK 73120-2724 www.andgroup.net Building Roots Foundation, Inc. Workforce Development Agencies / Consultants Mr. Demetrius Bell......................(405) 849-6469 16460 Bogert Parkway Oklahoma City, OK 73134-2643 www.buildingrootsok.org
Gardner.Studio LLC Architects Mr. Jeremy Gardner..................(405) 306-9299 301 NW 13th St., Suite 104 Oklahoma City, OK 73103-3708 gardner.studio KKT Architects Architects Mr. Everett Steele..........................(405) 237-4148
Kam's Kookery Caterers Ms. Kamala Gamble....................(405) 409-7312
PeopleReady Employment Agencies Employment Resources Mr. John Teeter..............................(405) 524-1388 145 NE 23rd St. Oklahoma City, OK 73105-3003 https://www.peopleready.com/location/ oklahoma-city-ok-1173/
420 E. Britton Road 2834 Guilford Lane Oklahoma City, OK 73120-4401 KamsKookery.com
Oklahoma Environmental Services Environmental Services Mr. Daniel Genovese.................(405) 605-1720 2424 N. Kelley Ave. Oklahoma City, OK 73111-2606 www.oeservices.net
3030 NW Expressway, Suite 300 Oklahoma City, OK 73112-5400 www.kktarchitects.com
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ECONOMIC INDICATORS
OKC NO. 1 LOWEST COST OF LIVING AMONG LARGE CITIES Where You Live Matters! C2ER 2023 Annual Average Price Report www.coli.org
Composite index
apartment rent
Men's Haircut
City
coffee
gasoline doctor visit
Movie ticket
Oklahoma City, OK
82.2
$5.16
$811
$3.02
$149.53
$19.13
$10.57
El Paso, TX
88.1
$5.42
$1,146
$3.23
$129.11
$28.78
$11.81
Indianapolis, IN
88.8
$5.39
$1,336
$3.35
$112.66
$22.23
$11.38
Memphis, TN
89.8
$5.24
$1,598
$3.00
$112.80
$25.47
$13.30
San Antonio, TX
91.2
$5.05
$1,521
$2.97
$149.40
$28.33
$12.41
Albuquerque, NM
94.9
$5.45
$1,574
$3.10
$133.41
$29.18
$12.84
Columbus, OH
95.3
$5.52
$1,613
$3.19
$115.70
$24.08
$11.70
National Average
100
$5.46
$1,550
$3.32
$143.77
$25.81
$12.46
Oklahoma City ranks No. 1 for Lowest Cost of Living among all reporting large cities over 500,000 population. The C2ER Annual Cost of Living Index for Oklahoma City in 2024 was 82.2—or 17.8 points below the national average.
• Groceries will cost 19% less • Housing will cost 88% less • Utilities will cost 15% less • Transportation will cost 20% less • Healthcare will cost 25% less
Example: If you are earning $70,000 after tax in New York (Manhattan), the comparable income to achieve the same standard of living in Oklahoma City is $25,355. If you moved from New York to Oklahoma City:
For comprehensive Economic Indicator and Regional Data, please visit your Greater Oklahoma City Chamber Economic Development Division at www.greateroklahomacity.com/economicindicators or contact Eric Long, Research Economist, at 405-297-8976; elong@okcchamber.com DID YOU KNOW? Get regional demographic data, consumer expenditure information, labor force data for the Greater Oklahoma City Region and more at greateroklahomacity.com.
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CLAYTON I. BENNETT Dorchester Capital Vice Chair, Strategic Planning BOB FUNK, JR. Express Employment Professionals Vice Chair, Education and Talent JUDY J. HATFIELD, CCIM Equity Commercial Realty Advisors, LLC Vice Chair, Membership RHONDA HOOPER Jordan Advertising Vice Chair, Business and Economic Inclusion BILL LANCE The Chickasaw Nation Vice Chair, Convention and Visitors Development JENNY LOVE MEYER Love’s Travel Stops Vice Chair, Marketing and Communications 2025 OFFICERS
TERESA ROSE, JD Communities Foundation of Oklahoma Board Chair MICHAEL F. ROSS INSURICA / American Fidelity Assurance Company Corporate Chair-Elect SEAN TRAUSCHKE OGE Energy Corp. Immediate Past Chair
RICK MUNCRIEF Devon Energy Corporation Vice Chair, Innovation and Life Sciences J. LARRY NICHOLS Devon Energy Corporation Vice Chair, Economic Development / Forward Oklahoma City DAVID E. RAINBOLT BancFirst Corporation Vice Chair, Government Relations W. KENT SHORTRIDGE Oklahoma Natural Gas Company Vice Chair, Military and Aerospace CHRISTY GILLENWATER Greater Oklahoma City Chamber President & CEO
ISSUE #3599 - February 2025 Editorial staff Cynthia Reid Designer Billy Callan 405-297-8900 thepoint@okcchamber.com okcchamber.com twitter.com/okcchamber facebook.com/okcchamber VeloCity (ISSN 1075-6264) is published monthly by the Greater Oklahoma City Chamber,
JOHN HART Continental Resources Treasurer TOM J. McDANIEL American Fidelity Foundation Corporate Secretary
123 Park Avenue, Oklahoma City, OK 73102. SUBSCRIPTIONS: $15 per year included in Chamber membership; nonmembers, $25 per year within the U.S.. Periodicals Postage paid at Oklahoma City. Advertising rates upon request. Publisher reserves the right to refuse any advertising.
STAY TUNED FOR EXCITING CULTURAL OPPORTUNITIES
April 29 - may 1 2025
THE INTENSIVE TWO-DAY PROGRAM INCLUDES • Briefings with members of Oklahoma’s Congressional delegation on Capitol Hill. • A reception on Capitol Hill with top Air Force leaders, Congressional members and their staff. • Off-the-hill sessions on key issues important to the business community. • Valuable networking opportunities with Oklahoma City’s top business leaders.
REGISTER NOW REGISTER@OKCCHAMBER.COM CALL 405.297.8921
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