Balance of retailers boosts economy

ne look at the Costco parking lot and you can see that retail is an economic driver – from the development and purchase of real estate to job creation and the increase in sales tax revenue. The majority of Oklahoma City’s general operating fund is dependent on sales tax revenue; it’s how we fund core services such as police, fire, street repair, parks and public transit.

The new Costco, at 13200 N. Western Ave., is the chain’s first store in Oklahoma City. The membership-only warehouse club is the second-largest retailer in the world. National retailers are a good addition to our city when balanced with our local stores, unique retailers and restaurants.

City planning and thoughtful development are critical to maintaining a healthy balance. As we recruit national retailers we continue to support and encourage our local businesses; they reflect the personality and identify our city and provide a sense of community.

This week I am attending the International Council of Shopping Centers’ RECon conference in Las Vegas with a delegation from the Greater Oklahoma City Chamber and the city of Oklahoma City. It is one of the best ways for us to connect face-to-face with developers, retailers, hoteliers, restaurateurs and entertainment brokers and recruit them to Oklahoma City.

Read the full article at The Journal Record