Economic Preview reveals positive outlook for Edmond
EDMOND — It was a meeting filled with amens and good news for those at the Edmond Economic Development Authority’s annual Economic Preview event, which is in its 21st year.
“2017 was a really good year for us,” said Janet Yowell, Edmond Economic Development Authority executive director.
More than 200 people came to the new Edmond Hotel and Conference Center to hear State Treasurer Ken Miller and Yowell speak on not only how the state is doing but also Edmond’s outlook.
Entering 2018, the City of Edmond has about $90 million in development activity, Yowell said and she is hoping that will only increase this year.
“I am extremely optimistic in what is going to happen this coming year,” Yowell said.
“We are really doing well,” she said, citing the average household income as just over $110,000 and unemployment at 3.39 percent.
Average income across Oklahoma is about $45,000, according to a report compiled by Miller.
“Things are great in Edmond, but not all across the state, so we need to diffuse some of this across the state,” Miller said, referring to average income and education levels in the city, which are some of the highest in the state.
Miller received multiple “amens” for praising Edmond’s economy, as well as for his comments about changes the state needs to make.
“Edmond and Oklahoma City are doing great due to the private sector,” Miller said.
Growth in sales tax was highlighted by Yowell. City officials expect a 2 percent growth over the next several years. The city also saw its largest sales tax collection in January.
In the coming year, multiple downtown Edmond developments will break ground, including the construction of two multistory buildings for retail, restaurant, office and living space called The Campbell.
Development downtown also reached $34 million last year. Edmond also saw $8 million in medical facility investments at OU Medical, Integris and Mercy.
Multiple ribbon-cutting ceremonies happened last year, including at a new ShowBiz Cinemas.
“The Economic Preview is always a valuable event, and this year was no different,” said James Boggs, Edmond market president for First Fidelity Bank, which sponsored the event.
Those who attended received access to reports that discuss trends and projections in the retail, office, residential and multifamily real estate markets. The reports were compiled by local institutions.