The Norman Transcript

Headlines

October 31, 2012

Economic development: Planned policy under scrutiny

NORMAN — Controversy continues to swirl around Norman’s attempts to develop a municipal economic development policy.

This spring, city leaders formed the Norman Economic Development Authority, a trust with bonding capacity. The members of city council will serve as trustees to ensure the board is answerable to the public.

Coming soon will be appointments to an Economic Development Advisory Board to be comprised of people with expertise in economics, banking, development, real estate, business and other relevant areas. That advisory board will not have decision-making power, but will be comprised of professionals who can vet a project and make recommendations to the Authority.

Also under review and creation is an economic development policy for the city, along with possible incentives and eligibility criteria to guide the decision-making process.

“Incentives should be used to level the playing field to take away a disadvantage you might have because your costs are higher whether that be transportation costs, land costs or whatever, versus a competing site,” said Norman Economic Development Coalition Executive Director Don Wood. “Incentives need to always be performance based and have clawbacks if they get them ahead of performance. It’s always better to be performance based, but there are times you may want to give incentives ahead of time, and you need to have clawbacks.”

The Norman Economic Development Coalition was formed in 1996. It is a combined effort of the University of Oklahoma, the city of Norman, Moore Norman Technology Center, and the Sooner Centurions, a committee of the Norman Chamber of Commerce.

Critics of the formation of the new trust authority pointed to the Coalition’s efforts in economic development as proof that Norman did not need an additional entity to promote the city as a site for future employers.

But Wood has been an advocate, saying there is only so much the Coalition can do. In addition, the potential for bonding capacity added by the Authority creates a new toolbox of economic development tools.

Text Only | Photo Reprints
Headlines
  • Norman firefighter performs Heimlich maneuver on Moore man after he chokes on food

    What started out as a normal night out for a Moore couple ended with them being thankful a firefighter was in the right place at the right time....

    July 22, 2014

  • Common Core repeal has state teachers worried about instruction

    OKLAHOMA CITY — With the Legislature’s repeal of tough, new English and math standards known as Common Core, education leaders said they’re concerned Oklahoma students will fall further behind their counterparts in more than 40 states ...

    July 22, 2014

  • 18-year-old killed; 72-year-old man, young boy injured

    Those involved in the wreck Friday near 136th Avenue and South Sooner Road were identified Monday by Oklahoma City police. Logan Rosado-Santoni, 18, was pronounced dead on the scene after the 4:30 p.m. multi-vehicle wreck. Two others were ...

    July 22, 2014

  • New AP program to begin in Norman

    NORMAN — Norman Public Schools Board of Education learned about Advanced Placement Capstone at a regular board meeting Monday....

    July 22, 2014

  • Rebels release train with bodies from jet

    HRABOVE, Ukraine — Bowing to international pressure, pro-Moscow separatists released a train packed with bodies and handed over the black boxes from the downed Malaysia Airlines plane, four days after it plunged into rebel-held eastern ...

    July 22, 2014

  • Gaza death toll passes 560

    GAZA CITY, Gaza Strip — A high-level attempt by the U.N. chief and the U.S. secretary of state to end deadly Israel-Hamas fighting was off to a rough start Monday: Gaza’s Hamas rulers signaled they won’t agree to an unconditional ...

    July 22, 2014

  • Moore City Council paves way for Sam’s Club location

    MOORE — The Moore City Council approved a $5 million bond Tuesday to be repaid with sales tax and utility revenues. “A good amount of street improvements needs to be done,” Moore City Manager Steve Eddy said. “This will be paid for with ...

    July 22, 2014

  • Perry sending Guard troops to border

    AUSTIN, Texas — Gov. Rick Perry is deploying up to 1,000 National Guard troops to the Texas-Mexico border over the next month to combat what he said Monday were criminals exploiting a surge of children pouring into the U.S. illegally. ...

    July 22, 2014

  • Better weather to aid in fire fight

    SPOKANE, Wash. — Calmer winds and cooler temperatures were allowing firefighters to go on the offensive Monday against a destructive wildfire that has charred hundreds of square miles of terrain in Washington State and is the largest in ...

    July 22, 2014

  • Gay, transgender workers gain U.S. bias protection

    WASHINGTON — President Barack Obama on Monday ordered employment protection for gay and transgender employees who work for the federal government or for companies holding federal contracts, telling advocates he embraced the “irrefutable ...

    July 22, 2014