Business Park Offers Companies Incentives for Economic Development | Oklahoma Department of Commerce

Business Park Offers Companies Incentives for Economic Development

A unique partnership between George Kaiser Family Foundation (GKFF) and the City of Tulsa is incentivizing companies to expand and become a catalyzing force in growing economic opportunity in North Tulsa. GKFF and the City of Tulsa are looking for civically-minded companies to provide skilled, sustainable wage jobs for the community surrounding the Peoria-Mohawk Business Park to boost its economic vibrancy. While the incentive package is generous–free land within three miles of downtown with significant logistical advantages, $10 million worth of incentives for public infrastructure across the entire property, up to $5,000 (per employee) in dedicated job training, transitional housing options, charitable fund matching, below-market financing among other inducements—it really is the mission of the site that Tulsa hopes attracts interested companies that want to be a part of positively changing a community.

“Our goal with Peoria-Mohawk is to continue building economic opportunity in and for North Tulsa,” said Josh Miller, program officer at GKFF. “We want businesses that locate here to provide high-quality employment opportunities as well as become civically engaged. We hope companies are attracted to this effort because it’s more than just your typical economic development project, but rather a chance to drive positive change and become integrated within a community.”

Building on the momentum of Tulsa Remote’s launch in 2018, Peoria-Mohawk Business Park is the result of a partnership between the City of Tulsa and GKFF, an organization dedicated to supporting the vibrancy and inclusivity of Tulsa; and is designed to expand employment opportunities in North Tulsa. With Muncie Power Products’ announcement to relocate to Peoria-Mohawk Business Park this year, the approximately 80 remaining acres allows businesses a chance to grow, while also creating sustainable economic development and providing a high quality of life for employees.

Peoria-Mohawk, strategically positioned for business and employee access, is located only three miles from downtown along Tulsa’s Bus Rapid Transit lines. In addition to a key location and the benefits of working in the growing city of Tulsa, companies in Peoria-Mohawk will also receive:

  • $10 million worth of incentives for public infrastructure across the entire property, free land, located within a tax increment financing district, below-market financing available, eligible for Opportunity Zone and New Markets Tax Credits investments and payroll rebates.
  • Free dedicated job training courtesy of Tulsa Community WorkAdvance and Tulsa Technology Center ($5,000 per employee value).
  • Opportunities to provide housing for key employees during their transition to Tulsa.
  • A mutually agreeable matching fund from GKFF and advisement assistance for charitable contributions to the most effective Tulsa nonprofit organizations.

Ideal corporations for Peoria-Mohawk Business Park should be committed to hiring a diverse workforce while promoting a corporate culture that encourages civic engagement and supports the community. Interested businesses should be involved in a sustainable long-term industry, have strong financial standing and place priority on internal promotion and paying employees a competitive living wage.

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