Issue 5 2016

Page 1

2016 Issue 5

Develop, Innovate, Prosper

Brownfields Sites Economic Benefits Felt Across Oklahoma Brownfields remediation in Oklahoma has returned high-value property, including both high-traffic downtown areas and rural zones, to productive use, significantly increasing the property value of not only the remediated area but surrounding properties as well. Remediated properties contribute more than $150 million to real estate value in the state, as well as more than $5 million in property taxes. “It has been 20 years since the Oklahoma Legislature passed the Oklahoma Brownfields Redevelopment Act with strong bipartisan support. Since that time, there have been numerous new housing, retail, industrial and service-based businesses investing in previously unused or underused properties,” said Mary Fallin, Governor. “These properties have generated ad valorem, sales and income tax revenue for our schools and public services.”

DEQ oversaw remediation that included removal of 12 fuel tanks; soil and sand removal for the Guthrie Green project in Tulsa, Oklahoma.

Retail sales growth was increased 4300% in brownsfield sites and that impact can be felt across the State of Oklahoma not only in the Brownfields site participants but there area neighbors as well. “The brownfields program has been a terrific opportunity for Tulsa to greatly improve many areas of our city that were on a neverending spiral of neglect and eventual abandonment and destruction,” said Dewey Bartlett, Tulsa Mayor. “Without a doubt, the Guthrie Green is a showcase for the great result of the collaboration between public and private interest with Brownfields being the catalyst.” The study commissioned by the Department of Environmental Quality (DEQ) and completed by the Oklahoma Department of Commerce (ODOC) revealed that more than $10 million growth in state sales and income tax can be attributed to the areas of 44 brownsfield sites since 1998 and a 147% job growth in these areas.

Bricktown Canal in Oklahoma CIty included soil removal, bioremediation of soil, installation of groundwater remediation system that DEQ oversaw.

Continued on page 6

Bryant Center Owner Shares Her Business Success Story p. 3 Main Street Award Winners Share Their Success Stories p. 4 Small Business Award Winners for 2016 Honored p. 6


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