OKC MAPS Economic Impact - Full Report

OKC MAPS PROJECTS – 25 YEARS

The overall results suggest that the initial public investment in MAPS triggered substantial additional public and private sector investment. To date, approximately $1.8 billion in city investment has been used or earmarked for the three rounds of MAPS projects in Oklahoma City. Additional city infrastructure expenditures in the period totaled $690 million and worked to enhance the outcome of the MAPS projects. Other federal, state, and local government entities invested an additional $600 million in the downtown area. Total public investment through city spending on MAPS and investments by other public sector entities reached $3.1 billion between 1995 and 2018. Private investment spending in the downtown study area similarly surged along with the initial MAPS projects and has continued steadily through 2018. Estimated private investment spending totaled $3.9 billion between 1995 and 2018. Private investment gains are highly visible in the office, hotel, medical and research, residential, food service, and entertainment sectors. In total, the combination of city investment through MAPS along with other public and private sector investments in the downtown study area reached an estimated $7 billion in the full MAPS era. Report Objective and Structure . In assessing the various changes resulting from MAPS, this evaluation pursues three basic underlying tasks: 1. Update the prior evaluation of the original MAPS projects provided in the 2009 report, particularly the contribution of MAPS to change in downtown Oklahoma City; 2. Provide an initial review of the mostly completed MAPS for Kids projects; and 3. Detail MAPS 3 initiatives completed or currently underway and the role these projects are expected to play in shaping future growth in Oklahoma City. The report documents the activities of the MAPS projects but is more focused on the resulting changes in the demographic, workforce, lifestyle, and economic conditions enjoyed by residents of Oklahoma City. The MAPS projects are viewed as the clear catalyst behind the revitalization underway in downtown Oklahoma City. These public investments in turn triggered significant private development in housing, lodging, retail, office space, and recreational offerings. Each major area of visible change is evaluated throughout the report. A final, though more informal, task pursued throughout the report is the development of a more integrated view of the three rounds of MAPS projects approved to date. The number and breadth of projects and the length of time over which they have transpired warrants a more comprehensive view of MAPS as a single, ongoing economic development effort that now extends twenty-five years. The initial section of the report reviews the three rounds of MAPS projects and other related city economic development initiatives. The second section of the report details the downtown study area, the site of most of the MAPS projects approved to date. The following two sections examine changes in the downtown study area across a range of demographic and economic factors. The report shifts in the following section to an evaluation of public and private investment, focusing on changes in property valuations and activity in key downtown markets such as office and residential. The next two sections examine changes that have occurred in lodging, tourism, and transportation in the downtown study area in the MAPS era. A detailed evaluation of the change underway around the path of the downtown streetcar is provided as well. The final section of the report reviews the major findings contained throughout the report.

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