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Trust approves up-to-$8 million negotiation to bring Scheels flagship to Oklahoma City
Summary
The Oklahoma City Economic Development Trust voted to authorize negotiation of an economic development agreement not to exceed $8 million to support a Scheels Sporting Goods flagship expected to generate roughly $130 million in annual sales and create hundreds of jobs.
The Oklahoma City Economic Development Trust on July 29 authorized the general manager to negotiate an economic development agreement not to exceed $8,000,000 to support development of a Scheels Sporting Goods store in Oklahoma City. The Trust voted on a joint resolution and the item passed after a motion and second.
The Trust said the incentive would be capped at $800,000 per year over 10 years, with a total not to exceed $8 million. Kenny Sutil, speaking for Trust staff, said the project is expected to generate about $130 million in annual sales and estimated the city’s general fund would receive about $2.9 million after incentives in a full-incentive year,…
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