ARDMORE DEVELOPMENT AUTHORITY (ADA)

PROJECT PURPOSE

This project is part of a planned development known as the Global Transportation and Industrial Park of Oklahoma (GTIP), at the Ardmore Industrial Airpark, that is a Public?Private Partnership between the Ardmore Development Authority (ADA), WP Global (WPG), a joint venture between WATCO, an international transportation and logistics company, and Cowboy Holdco, an investment company. It is a project of regional significance; completed economic impact studies have shown that development of the Ardmore Industrial Airpark into a multi-modal (air, truck, & rail) global transportation hub will create thousands of direct and indirect jobs across Oklahoma. The overall objective of the project is to repair the 60?year?old infrastructure at the Airpark to take advantage of rapid economic growth along the I?35 corridor between the North Texas ?megaregion? and Oklahoma City. The current state of the Airpark?s infrastructure limits its ability to expand and achieve the best utilization of its primary assets: a recently updated 9,000+ foot runway, one of the only fully staffed, privately?owned, FAA control towers in the U.S., and about 1,200 acres of developable land within the airport boundaries ? land that has sat unused since the airport was retired as a military airfield in the 1960s.

EVIDENCE

ADA has engaged Lochner Engineering to evaluate and recommend infrastructure improvements to the Airpark (attached). Dr. Russell Evans, Executive Director of the Steven C. Agee Economic Research and Policy Institute and Director of the Center for Regional Economic Analysis at Oklahoma City University has performed an economic impact study and analysis of the Ardmore Industrial Airpark as an international air cargo hub (attached). The E-Foundation for Oklahoma has completed a feasibility study of the same (attached). Together these reports show that an international cargo hub at Ardmore is feasible and would yield massive economic benefits to the region and Oklahoma.

POPULATION DESCRIPTION

This investment will primarily affect rural areas of a thirteen-county definable region of benefit that comprises The Chickasaw Nation sovereign territory, about 300,000 people, directly, and the entire State of Oklahoma, indirectly. This project is a major opportunity for creation of social equity and economic growth in an historically disadvantaged and diverse region of the United States via improvements to existing, underutilized transportation infrastructure. Ten percent of the population in the region of benefit live in an Opportunity Zone, have a poverty rate of 14.3%, which is well below the national average of 10.5%. According to Stats America, Carter County (where the project is located) alone has a PCPI of $43,578, which is more than $13,000 less than the national average. In January of 2021, Carter County ranked #1 in COVID cases per capita in Oklahoma and #7 in the United States. The counties in the surrounding region of benefit collectively fare far worse than Carter. COVID-19 had a disproportionate impact on American Indians; the infection rate for COVID-19 in Oklahoma was over 65% for American Indians compared to whites, and the death rate was 33% higher.

PERFORMANCE MEASURING

The Ardmore Development Authority has a stellar track record of managing and reporting uses of federal awards with the FAA, EDA, and other granting agencies. It has accounting and systems already in place to collect data using a generally accepted methodology that will remain consistent throughout the required reporting period. The ADA will be able to show how the replacement funds are used via its existing budget processes in accordance with the SLFRF approved Expenditure Categories, not to be used directly for pension deposits or debt service.

ONGOING INVESTMENT AMOUNT

$

ONGOING INVESTMENT DESCRIPTION

None

ONGOING INVESTMENT REQUIRED

Able to continue operation without additional funding from the State of Oklahoma