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Business Intelligence Report
Mon July 7, 2014
Top Business Stories: Increased Tax Revenues, HP 'Lands' In Tulsa, And OKC Okays Cabela Incentives
Despite Last Year’s Devastating Tornado, Business Is Booming In Moore.
Sales tax revenues for the first part of the year are 8.7 percent higher than in 2013. In fact, collections grew more than in other metro cities. Norman grew 5.7 percent, and Edmond and Oklahoma City each posted 2.7 percent gains.
Moore City Manager Steve Eddy said the surge comes from more than just reconstruction.
He said growing retail activity made up 6 percent of the growth. Sales tax collections in June were
12.3 percent higher than a year ago.
Eddy also said the growth should continue. Construction will start soon on a Sam’s Club at
Southeast 19th Street and Broadway.
State Treasurer Ken Miller Says The State Economy Is Also Doing Well.
In fiscal year 2014, which just ended, the state collected $11.7 billion in taxes. That was 4 percent more than the prior year.
June receipts topped $1 billion and were 6.6 percent higher than a year ago.
Miller said 45 of the last 51 months have shown growth over similar periods from the prior year.
He said that the strong revenue, combined with an unemployment rate almost two percent lower than the national average, points to continued growth for the state.
HP Enterprise Services paid $150 million for its Tulsa data center at 7400 N. Lakewood Ave. East.
A Real Estate Deal In Tulsa May Be The Biggest Ever Seen In The County.
HP Enterprise Solutions services paid $150 million for a data center.
Tulsa County Chief Deputy Assessor Keith Hulsizer didn’t have final numbers, but said it was the biggest deal anyone in his office could remember.
HP had been leasing the 429,000-square-foot facility in the Cherokee Expressway Industrial Park. The center includes a 184,000-square-foot addition that was finished in 2008.
A real estate analyst said the infrastructure in that kind of tier-one data center helps drive up prices.
Tom Adams, store manager of Backwoods at 12325 N. May Ave., Suite 103, in Oklahoma City.
Oklahoma City Will Give An Outdoor Retailer $3.5 Million In Incentives To Open A Store.
Cabela’s, which sells outdoor sporting goods, said in early June it would build a store in the Chisholm Creek development. That commercial center is being planned near the Kilpatrick Turnpike and Western Avenue.
The City Council approved the package this week. Councilman Ed Shadid voted no, and called the plan extortion. Councilman James Greiner called for a policy review to make sure similar deals don’t cut into sales for existing retailers.
Tom Adams manages a Backwoods shop that sells gear similar to Cabella’s. He said he welcomes the competition, but that he hopes the City Council doesn’t ignore smaller, long-time retailers.
The city says it makes sense to help Cabela’s, because it is projected to generate about $1.4 million a year in sales taxes.
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Business Intelligence Report