BAEDC Delivers 2021 Presentation to the City of Broken Arrow
The Broken Arrow Economic Development Corporation (BAEDC) reported at the February 1, 2022, City Council Meeting that 369 new jobs with a local economic impact of over $28 million were announced in 2021, as well as over $36 million in new capital investment by existing companies.
2021 was an exceptional year characterized by low unemployment rates, strong job growth, and increases in tax revenue.
- Unemployment rates fell to 2.2% in comparison to
5.4% at the beginning of 2021 and 13.5% during the worst parts of 2020 - Companies continue to hire as job growth was at 26% with 11,861 jobs compared to 9,429 in 2020
- Sales Tax increased by 12% and Use tax by 19.7% year over year in 2021
- 92 commercial permits were issued to new businesses located in BA
The future continues to be bright for Broken Arrow as forecasts expect a population growth rate of 1.36% over the next 5 years alongside a 9% expected growth rate for median household income. These solid indicators of economic prosperity highlight the efforts of the BAEDC in Broken Arrow.
The BAEDC strives to create wealth, jobs, and economic growth through the creation, attraction, and retention of business and talent in the community. Key highlights of their efforts in 2021 include:
- 432 businesses visited representing a 182% increase year over year
- 43 submitted responses to requests for proposal for new business, representing a 104% increase year over year
- Executed 2 Career Fairs attended by more than 200 job seekers and 70 companies
- Talent attraction efforts connected the BAEDC with 338 businesses, 456 job seekers with over 110 job referrals
- 3,000 students reached in manufacturing career awareness efforts representing a 200% increase year over year
The BAEDC works with the City of Broken Arrow to attract and retain a thriving business base in the community. “Partnerships with local organizations and businesses have resulted in thousands of new jobs, and capital investments that have expanded and improved Broken Arrow’s infrastructure,” says Jennifer Conway, President, and CEO of the Broken Arrow Chamber of Commerce and EDC. Most recently, Broken Arrow announced that Automotive Industries, a full-service fleet management company, purchased a 106,000 square foot building with plans to bring over 100 jobs.
Looking to further engage the business community, the BAEDC facilitated a new approach for expressing their collective appreciation for business investment in 2021. The BA Business Blitz was a holistic effort where the BAEDC, Chamber of Commerce, City of Broken Arrow staff, volunteers, and officials visited businesses to thank them for their dedication, effort, investment, and contribution to our economy. This resulted in 151 visits that amplified the voice of existing businesses in our community.
“The BAEDC team is a driving force of economic growth and prosperity in Broken Arrow,” said City Manager, Michael Spurgeon. “Whether it’s through job creation by attracting businesses to our community, providing resources to the private sector, or building partnerships to increase investments in BA, the BAEDC embodies our mission of creating an environment that promotes private investment and maintaining a high quality of life for our citizens and business owners to live, work, and play.”
Earlier this year, the International Economic Development Council (IEDC) awarded the BAEDC with a bronze rank in the category of printed economic development piece. Additionally, the BAEDC was recognized as Partner of the Year by the Oklahoma State Chamber for its assistance in addressing transportation and infrastructure policy challenges.
In addition to continuing to provide business advocacy, recruitment, retention, and expansion efforts, the BAEDC looks forward to a busy 2022. Jennifer Jezek, Chair of the BAEDC, states that “in 2022, our program of work will both expand and optimize our current initiatives while embracing a new innovative future for our city.” Efforts are underway to assist the City of Broken Arrow with the development of Arrow Forge to continue workforce development efforts, and to strategically plan for the next 5 years amplifying business involvement through a capital campaign that will maximize public and private investment.
About the Broken Arrow EDC: The Broken Arrow Economic Development Corporation (BAEDC) connects businesses and organizations with guides and resources for success. Partnerships with local organizations and businesses have resulted in thousands of new jobs, capital investments that have expanded and improved the City of Broken Arrow.
