Newspaper article THE JOURNAL RECORD

Study Estimates Okla. City's MAPS Impact Could Hit $2 Billion

Newspaper article THE JOURNAL RECORD

Study Estimates Okla. City's MAPS Impact Could Hit $2 Billion

Article excerpt

The impact of the MAPS program has resulted in a total investment in Oklahoma City's central core of $942 million, with another $1.1 billion in the planning stages, according to a study released Thursday by the Greater Oklahoma City Chamber of Commerce.

The study, which was conducted by Larkin Warner, Regents Emeritus at Oklahoma State University, was commissioned by the chamber.

We undertook this study to put some numbers around this incredible story of MAPS, explained Roy Williams, the chamber's executive vice president of economic development. Everyone in Oklahoma City can tell you what a great success it has been, but we need more than generalities and subjective information when we are trying to interest investors in the area. This study gives us the data that those investors demand.

According to the study, over half of the total $942 million of investment dollars spent in the general downtown area consists of private investment dollars. Only $344 million of that number represents the original MAPS program investment.

The study noted some of the largest non-MAPS investment projects in the area over the last 10 years included $270 million by the Oklahoma Health Center, the $40 million federal office campus, the $31 million Renaissance hotel, the $29 million Oklahoma City National Memorial and the $18.8 million Bass Pro Shops store scheduled to open Thursday.

Of the $1.1 billion in projects planned, the survey showed the planned expansions by Oklahoma Health Center and St. Anthony's Hospital as significant contributors to the area's growth, resulting in a total expected investment of $523 million to the area. The $350 million realignment of Interstate 40 and the proposed $100 million Native American Cultural Center also are expected to have a significant impact.

We were pleasantly surprised that the numbers in the study outpaced our expectation of capital investment in the central city, said Brenda Workman, director of central city development for the chamber.

The study also showed that real estate asset values have increased substantially in central Oklahoma City as a result of both new investment and appreciation. …

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