SLAM DUNK DECISION: CHAMBER HELPS SECURE NEW DOWNTOWN ARENA
BRIDGING THE GAP BETWEEN BUSINESSES AND GOVERNMENT Our Government Relations team engages with legislators, policymakers and government officials to promote legislation that aligns with the business community's needs and priorities. We provide legislators with information and insights about the potential business impact of proposed laws and regulations. They help educate lawmakers about the economic implications of various policies, ensuring that decisions are informed and well-understood. During the 2023 legislative session, our successful advocacy efforts included: • Helping defeat a bill that sought voters' approval for all tax increment finance districts (TIFs) within their entire jurisdiction. Such a law would have hindered municipalities or counties from generating development funds for public improvements within TIF areas. • Helping preserve the use of eminent domain for vital economic development programs, including transformative initiatives like MAPS. • Fighting to protect and expand incentive programs crucial for recruiting, retaining and expanding businesses in the region. • Supporting a bill to raise the annual cap on the Tourism Development Act (TDA) from $15 million to $30 million. • Supporting amendments to "The Filmed in Oklahoma Act," which adjusted the eligibility date for filmmakers to qualify for incentives. The retroactive alteration of the date played a crucial role in influencing a studio's choice to film significant scenes in Oklahoma City for a major motion picture. • Supporting legislation to protect funding for the Heartland Flyer passenger rail service.
The Greater Oklahoma City Chamber spearheaded the effort to build a state-of-the-art downtown arena. The new arena, estimated to cost around $900 million, not only ensures the Thunder's presence until 2050 and beyond but also provides a venue for major concerts, athletic competitions and other world-class events.
Both the arena and OKC's NBA franchise play pivotal roles in bolstering the local economy, contributing to an annual economic impact of nearly half a billion dollars. The proposal garnered widespread support, with an impressive 70% approval from Oklahoma City residents. The new arena will be funded by a 72-month, one- cent sales tax that will start when the MAPS 4 tax ends and will not increase the sales tax rate. The arena will also be paid for with $70 million in MAPS 4 funding and $50 million from the Oklahoma City Thunder ownership group.
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