BROKEN ARROW, Okla. — Broken Arrow Mayor Debra Wimpee signed closing papers and transferred ownership of 90 acres in southwest Broken Arrow to the city.
The area is south of Florence Street, between Olive Ave. and Aspen Ave. The cost of the land purchase was $5 million and paid for with proceeds from the Broken Arrow Economic Development Authority’s South BA TIF.
The land will be used as the future site of the city’s Innovation District. The area will feature residential, commercial and educational components and focus on high-paying career opportunities.
“This is an exciting day for Broken Arrow,” said Mayor Debra Wimpee. “This initiative began four years ago, and with the acquisition of the land today, the strategic economic opportunities that have been discussed, feel more real than ever before.”
The Innovation District will be a collaborative effort alongside developers, local businesses, the Broken Arrow Economic Development Corporation (EDC), the City of Broken Arrow, as well as public and higher education to recruit businesses, provide support, and create a pipeline to keep locally grown talented individuals in Broken Arrow.
“The Innovation District is an investment into the future of Broken Arrow,” said Jennifer Conway, President/CEO of the Broken Arrow Chamber of Commerce and EDC. “Our goal is to work with our private and public partners to develop a thriving ecosystem of economic growth and innovation while creating new jobs for our citizens.”
A group of 30 plus individuals from the City of Broken Arrow, the Economic Development Corporation, the business sector, and representatives from public and higher education traveled to Greenville, South Carolina in late September for a two-day Best Practices trip. Greenville city leaders have successfully invested in the development of its innovation hub, which connects high-growth, high-impact entrepreneurs to innovators, facilities, capital, and talent.
“There is a lot of work to be done, and it will take some time before you see buildings on the land,” said Broken Arrow City Manager Michael Spurgeon. “Now that the City owns the property, we will have the opportunity to begin some of the infrastructure - water, sewer, roads, that sort of thing - to lay the groundwork on what we believe will be a cornerstone of amazing growth for future generations here in Broken Arrow.”