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Council updates retail incentives policy: NAICS codes, thresholds for destination and entertainment uses
Summary
A joint resolution amended the city’s retail incentives policy to clarify administration through the Alliance for Economic Development, switch classification from SIC to NAICS, and add new numeric thresholds for large destination and entertainment uses; the council approved the change unanimously.
Oklahoma City — The City Council unanimously adopted a joint resolution updating the Oklahoma City Retail Incentives Policy, clarifying administrative procedures and adding new size thresholds for destination retail and entertainment uses. The Alliance for Economic Development and the City briefed the council on the changes. Kenny Sewell, representing the Alliance, said the policy — last adopted in 2008 — was being modernized to use NAICS industry codes instead of legacy SIC…
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