Owasso Welcomes Business Retention & Expansion.
Owasso, Oklahoma, is nothing if not business friendly. The City of Owasso is committed to providing the business community with the tools they need to survive and thrive in Owasso. These include:
- Annual Economic Summit and Economic Forecast
- Access to Annual Community and Economic Profiles
- Buy Owasso Campaign
Market-ready spec buildings in Owasso are available in the industrially-zoned area south of downtown. Class A office space is also available in the city, with more to come in the Owasso Redbud Tax Increment Finance (TIF) District. With the Redbud District, Owasso aims to support the creation of attractive, high-quality, and viable mixed-use developments in its downtown Main Street area. This includes the development, improvement and/or expansion of light industry, and the possibility of providing start-up and incubator space to entrepreneurs. The potential exists to catalyze a whole new specialty retail district and an entertainment destination with additional dining venues and on-site residents. Nearly all of Owasso’s small business primary employers are in expansion mode, adding employees and growing their footprints.
Owasso's economic growth has been driven by retail for the last ten years. However, major employers in Cherokee Industrial Park, the Port of Catoosa, Tulsa International Airport and other regional assets have brought great talent to the area. Owasso's accessibility, affluence, educational opportunities, shopping, character and quality of life have made this community "home" to much of that talent. Approximately 85% of the population commutes daily outside of Owasso.
The smashing success stories of both national and regional retail businesses who’ve chosen to locate in the city is well documented. Please see the recent Owasso Retail Market Analysis for supportive data and learn about Owasso's Retail Opportunities here. Owasso’s rapid growth is a significant selling point for retail and service providers.
Business THRIVE Program
The foundation of our economic development program is business retention and expansion. Our Business THRIVE Program is designed to 1) retain or keep existing businesses in our community; and 2) provide assistance for our businesses to grow and expand. An effective retention and expansion program is based on accurate knowledge of the business community and constant communication. The Business THRIVE Program program will help businesses with:
- identifying and assisting with financial and technical assistance programs;
- facilitating between sources of assistance and the company needing them;
- advocating for the business community’s concerns, especially as they relate to the policies and procedures of local and state government.
The Business THRIVE Program requires building and maintaining good relationships with existing businesses. This program is currently under construction. The Owasso Economic Development team will launch this program in the Q2 of 2019. Please stay tuned – we will need your help with this great effort! For more information, please contact the Economic Development team at 918-376-1518.
Small Business & Entrepreneurial Council
Small and emerging businesses generate wealth and provide a significant source of employment in today’s global economy. These businesses and individuals stimulate job creation, develop crucial innovations in both product and services, and diversify the economic base. Owasso is committed to dedicating resources by providing technical assistance, education, and training to assist small businesses and entrepreneurs. In Q1 of 2019, the Owasso Economic Development team will assemble a Small Business & Entrepreneurial Council to guide and promote these efforts.
The Encore Program
Owasso’s largest population age group is the 30-somethings and the next largest group are their parents. As the Baby Boomers retire or semi-retire and move closer to their grandchildren, they are often looking for opportunities to continue their contributions. Our Economic Development team wants to help these individuals by plugging them into the community with a few different options:
- “Encore Mentors in Education” – Education mentors for our local schools
- “Encore Mentors in Business” – Business mentors for small businesses and entrepreneurs
- “Encore Volunteers” – Assistance with finding volunteer opportunities in the Owasso area
- “Encore Works” – Assistance back into the workforce
- “Encore Entrepreneurship” – Assistance with starting a business or innovation assistance
Owasso is a natural choice for many retail operations.
The city’s trade area comprises more than 4,000 square miles and more than 400,000 potential consumers.
Clearly the city is ripe for businesses that want to employ high-quality labor who would rather work closer to home.