By Lt. Governor Matt Pinnell
Last week, Sen. Kristen Thompson introduced groundbreaking legislation establishing the Oklahoma Office of Economic Development, Growth and Expansion (OkEDGE). It is a transformative bill that presents a golden opportunity for public officials to attract new businesses and cultivate the growth of our existing economy.
Senator Thompson's recognition of the need for a modern and nimble economic development model resonates deeply with those of us who are on the frontline of fostering community development. The OkEDGE initiative represents months of meetings amongst stakeholders dedicated to reshaping Oklahoma's economic landscape, creating a ripple effect that will undoubtedly benefit communities like ours across the state.
One of the most compelling aspects of OkEDGE is its commitment to act as the lead negotiator for Oklahoma in attracting new businesses. In a landscape where competition for economic investment is fierce, having a dedicated agency that can actively pursue opportunities and close deals is a game-changer. This is a huge win for city and county leaders seeking to diversify and strengthen their local economies.
The proposed investment represents a strategic infusion of resources that will empower public officials to spearhead economic development initiatives with confidence. Investing in economic growth, business retention, and expansion would be a lifeline for communities aiming to thrive in an ever-changing economic environment.
As elected officials, we often grapple with the challenge of outdated economic models that potentially could hinder our ability to compete effectively with neighboring states. OkEDGE is the answer we've been waiting for—an agency that will be equipped with the resources to not only attract new businesses but also prioritize the needs of existing employers. This dual focus is crucial for ensuring the sustained growth and stability of our local economies.
The proposed structure of OkEDGE will ensure representation from key stakeholders and a collaborative and inclusive approach to decision-making. This level of engagement is invaluable for public officials seeking to align economic development strategies with the unique needs of their communities. Public officials like myself appreciate the opportunity to actively participate in shaping the economic future of our state and ensuring that it aligns with the priorities of our constituents.
Senator Thompson's OkEDGE bill is an impressive playbook for public officials striving to attract new businesses and grow their existing economies. It represents a visionary approach to economic development that will empower us to navigate the challenges of the future with great optimism. I wholeheartedly support Senator Thompson's initiative and eagerly anticipate the positive impact it will have on the economic vitality of our great state.
Matt Pinnell serves as the 17th Lieutenant Governor of Oklahoma and Secretary of Workforce and Economic Development.
