Work progresses on Creek 51
City's 2nd TIF district will attract clean manufacturing companies
Work on the future site of the Creek 51 Business Park has made exceptional progress since the project broke ground in October 2019. Located at the southwest corner of the Creek Turnpike and Highway 51, Creek 51 will be a 90-acre business park offering manufacturing companies lots ready for construction.
"Development is well underway at Creek 51," said Rex Robertson, owner of the site. "Developed sites should be delivered this fall. We look forward to seeing the park filled with many new businesses which will create jobs for the citizens of Broken Arrow."
The aim for Creek 51 is to attract companies in the “clean” manufacturing industry. Clean manufacturers are those that use as few nonrenewable resources as possible while reducing waste and minimizing environmental impact.
"Creek 51 Business Park is our City's first large Business Park in over 30 years," said Broken Arrow Mayor Craig Thurmond. "It gives businesses an opportunity to locate or expand in Broken Arrow. But more importantly, it gives Broken Arrow citizens an opportunity to work close to home in our community. That's what I am really excited about."
The business park will be developed with the help of a Tax Increment Finance (TIF) District, only the second such area in the history of Broken Arrow. The only other TIF District is the downtown area, which includes FlightSafety and the Rose District.
Unlike the City’s first TIF, in which the City took out a loan to pay for improvements, this project is entirely funded up front by the developer. Fifty percent of ad valorem taxes on the property will go toward reimbursing the developer’s investment. (The remaining 50 percent of ad valorem taxes will go to the taxing entities.)
TIFs are a common tool used by local governments to finance projects within the boundaries of the TIF. Increases in property taxes within the district go into a fund that is used for debt service on projects during the lifespan of the TIF. The Creek 51 TIF will remain in effect for a maximum of 10 years or $5 million, whichever comes first.
The City Council approved the creation of this new TIF District in August 2019, with the support of the other taxing entities involved. They are:
- Broken Arrow Public Schools,
- Tulsa Technology Center,
- Wagoner County,
- Wagoner County Health Department and
- Rural Water District No. 4.
Broken Arrow is the 3rd largest manufacturing city in Oklahoma, and Creek 51 Business Park will help the City’s on-going efforts to recruit and retain high-paying jobs for our community.
For information on the purchase of a site, please contact Robertson at 214-850-8838.