OKC VOTERS APPROVE NEW DOWNTOWN ARENA
Oklahoma City voters have given their approval to continue a one-cent sales tax to pay for the construction of a new downtown arena. This decision ensures that OKC will continue to host the Oklahoma City Thunder beyond the year 2050. It also opens doors to major concerts and other events at the new arena. In a statement, Mayor David Holt declared, “Tonight, we conveyed to the nation and the world that Oklahoma City is, and will remain, a Big League City.” The new arena will be funded by a 72-month sales tax which goes into effect after the conclusion of the current MAPS 4 tax. The project will also receive $70 million in MAPS 4 funds and an additional $50 million from the ownership group of the Oklahoma City Thunder. “With this project we will be doing more than just building a world-class sports and entertainment complex, we will be propelling Oklahoma City toward the next generation,” said Thunder Chairman Clay Bennett. “This new home for the Thunder will serve as an iconic centerpiece of our vibrant and modern downtown and continue to represent the values of our city and its people.” A recent study commissioned by the Greater Oklahoma City Chamber estimated the arena’s annual economic impact at $590 million while also supporting more than 3,000 jobs. The study estimated that construction of the new arena would generate more than $1.3 billion during the construction period and support more than 10,000 jobs. “This study, using real inputs from arena activity, makes it clear that the impact on our economy is significant,” said Christy Gillenwater, president and CEO of the Chamber. “There is an important impact to the families dependent on the arena activity – those that work in the building, along with restaurants, hotels and companies that provide goods and services to the arena.” The study also detailed the annual tax revenue impact of arena activity. Annual impact to the city of Oklahoma
2
Made with FlippingBook - professional solution for displaying marketing and sales documents online