Mayes County Reviews Proposed TIF for MidAmerica Industrial Park | Local business news

MAIP began as a US government site that developed gunpowder during World War II. This factory closed in 1945 and 15 years later a public trust called the Oklahoma Ordnance Works Authority (OOWA) was created to stimulate economic growth and create jobs.

Operator of the industrial park, OOWA derives its income from the operation of a water plant, a waste treatment plant, the sale or rental of government properties, interest earned on shareholdings and, at times, loans to industrial park tenants.

Search engine giant Google is one of more than 80 companies spread over approximately 9,000 acres at MAIP. Last year, electric car maker Canoo announced plans to build a $400 million factory in the park.

Property taxes are the primary source of non-grant revenue for school districts, counties, and career technology systems, and the entities that would receive property tax revenue from development in the proposed TIF are Mayes County. , Northeast Tech, the Mayes County Health Department, and the Chouteau-Mazie Public School District, which is not currently benefiting from the undeveloped acreage.

Only the “increase”, or increased tax revenue from a TIF, can be allocated to economic development, which in this case would provide infrastructure such as roads, electricity and water.