Broken Arrow eyeing economic projects
Broken Arrow eyeing economic projects

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Published: July 20, 2008

BROKEN ARROW- The group responsible for energizing economic development in Broken Arrow is ready to begin delivering on its mandate, officials said.

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The Broken Arrow Economic Development Corp. is "organized, pretty well funded, very well staffed and very much at work," said corporation President Mickey Thompson.

The nonprofit corporation's main job is to execute a citywide economic stimulus plan adopted last year, one focus being to develop programs and services to aid business startups and expansions.

"This is a good plan but it leaves a lot unsaid....The when-to, how-to, where-to and who-to are left to our ingenuity and creativity and commitment to making it happen," said Thompson, who leads a full-time staff of four.

Many of the proposed programs and services are still in the conceptual stage, awaiting either funding, partners or time and opportunity, he said.

A business incubator program, for example, which would provide various kinds of support for businesses in their infancy, is being explored and awaits possible grant funding.

Thompson, also president of the Broken Arrow Area Chamber of Commerce, said one of the year's big successes was the introduction of the corporation's Web site, which offers business resources and information about the city, including customized reports.

Fundraising for the corporation, which operates on a combination of public and private dollars, continues to be a source of concern, Thompson said.

The city is committing $340,000 this fiscal year, but efforts to secure private-sector cash pledges through the Advance Broken Arrow campaign did not go as well as hoped, although 77 companies made pledges.

Thompson said he was "surprised and disappointed" that the campaign fell short of its annual $360,000 private cash goal by about $70,000. But he added that the total pledge value, counting non-cash donations, tops $390,000, providing "ample funding for us to meet our program expectations."

Officials want the corporation to become primarily privately funded.

Related Topics: Economic Issues, Economic Development