Business Leaders in Tulsa Change Significantly in Q1 2021

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Tulsa has seen a shift in what businesses are looking for in the first quarter of 2021.

The city’s economic development specialist, Austin Britt, told the Tulsa Authority for Economic Opportunity last week that a number of major projects showed interest in Tulsa in January, February and March.

“Last quarter, the median size of a project was 10 acres. This quarter it was 175. So we’re seeing a huge increase in the scale of the projects we’re getting,” Britt said.

Britt said many tracks so far this year have been looking for newly built facilities rather than redevelopments, and buildings of at least 150,000 square feet are in high demand.

Automotive industry projects accounted for one in five tracks in the first quarter, the largest proportion of any type. Even though Tesla chose Austin over Tulsa for a new plant last year, Britt’s interest in makers of electric vehicles and related equipment is on the rise.

“It’s really difficult for automakers to switch assembly and manufacturing plants from diesel or gasoline to electric. So I think you’re going to see a pretty big shift towards investments in vehicle factories. electric,” Britt said.

There were 23 total business leads for the city in January, February and March, representing a total potential investment of $10 billion and more than 18,600 jobs.

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