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July 31, 2024

PartnerTulsa, City of Tulsa celebrate $1.3 billion in direct economic impact over 3 years

Today, PartnerTulsa unveiled its annual report, showcasing the collective achievements of the City’s economic and community development efforts since the organization’s inception in 2021. The report highlights significant milestones, including more than $1 billion in direct economic impact, nearly 500 affordable housing units contracted and more than $55 million in grant funding secured to support Tulsa residents.

“PartnerTulsa was created on the belief that all Tulsans, regardless of where they live or their economic status, should have equality of opportunity when it comes to things like capital investments, job creation, and housing,” Mayor G.T. Bynum said. “That belief has turned into a reality, and since 2021, Tulsa has realized more than $1 billion in capital investments and generated nearly 3,000 new jobs because of this work. As we move forward, I’m reminded that these results are just the beginning of our continued effort to create the kind of city we want to leave to the next generation of Tulsans.”

Since its inception, PartnerTulsa alongside the City of Tulsa, has made notable progress, including: 

  • $1.3 billion in direct economic impact as a result of the attraction and expansion of employers and investments made through new developments.
  • 2,948 additional jobs announced by new and growing employers.
  • 1,442 total housing units contracted to meet an identified demand for nearly 13,000 housing units over the next decade; 482 of those units qualify as affordable housing.
  • 378 businesses supported through permitting and development assistance, training opportunities and financial programs.

“The impact detailed in this Annual Report showcases the tireless efforts of the PartnerTulsa team, Mayor Bynum, numerous City departments and key community partners. As emphasized in the report, this work is a collective endeavor, and we are honored to facilitate transformational impact across Tulsa,” said Michelle Barnett, Interim Executive Director and Senior Vice President of Economic and Workforce Development. “We look forward to continuing our collaborative efforts with partners throughout the City to drive sustainable and inclusive growth.” 

Key outcomes over the past three years include:

  • Began a series of  40 community meetings in 2021, connecting more than 1,000 residents to develop the Kirkpatrick Heights-Greenwood (KHGMP) Master Plan in 2022.  
  • Worked with community leaders in 2023 to identify goals for community ownership, and in 2024 established the  KHGMP Advisory Committee with a  targeted date of December 2024 to incorporate a 501(c)3 non-profit Community Development Corporation to oversee future community-led implementation. 
  • Collaborated with east Tulsa landowners in 2022 to establish a Joint Development Agreement for 2,000 acres at Fair Oaks Industrial Park, focusing on quality jobs. $50 million was secured for infrastructure improvements by working with the City of Tulsa, Oklahoma legislature and Oklahoma Water Resources Board, and funding was obtained from the Economic Development Administration for site due diligence and planning. In 2024, the first economic development incentives for an $800 million project was announced. 
  • Revamped the Affordable Housing Trust Fund (AHTF) in 2023 and sought proposals from developers to provide 0% interest loans for the production and preservation of affordable housing. 
  • Supported nearly 500 affordable housing units through the AHTF program over the last three years.

The report also outlined key accomplishments for fiscal year 2024 from July 1, 2023 to June 30, 2024.  They include:

  • $723.9 million in direct economic impact as a result of the attraction and expansion of employers and investments made through new developments.
  • 920 additional jobs announced by new and growing employers. 
  • 418 total housing units contracted; 322 of which are affordable housing.
  • 157 businesses supported through permitting and development assistance, training opportunities and financial programs.
  • $2.75 million secured in grant dollars to support housing, capacity building, small business development, clean energy attraction, and other key projects.

Key successes in 2024 included:

  • Initiated the first pilot of the Community Impact Initiative, providing grants to six community-based organizations that work in disinvested Tulsa neighborhoods for projects of their choosing, ranging from murals with local artists to rehabilitation of culturally significant signage. PartnerTulsa leveraged internal funds combined with a grant from George Kaiser Family Foundation for each organization to design, develop and administer local projects, resulting in community investments of $397,121.
  • Through the Affordable Housing Trust Fund, 461 new affordable units are set to hit the market within two years and $2.7 million in City of Tulsa loans were secured to support 284 housing developments.
  • Celebrated NorSun’s announcement to invest $620 million and create 320 new jobs at a new facility at the Tulsa International Airport. In addition to support provided by the Airport through a Tax Increment Finance (TIF) District, $1.2 million in funding was provided by the City of Tulsa to support infrastructure development through the Economic Development Infrastructure Fund. 
  • Provided more than $500,000 in 0% interest loans via the Retail Revitalization Fund for locally-owned retail businesses through a partnership with TEDC Creative Capital, and provided microgrants along with marketing, leadership and business startup training to  immigrant entrepreneurs in collaboration with Avanzando Juntos.
  • Supported more than 150 local businesses with grants, loans and permitting assistance.

The annual report is available online here.