The Mission of the Bartlesville Development Authority (BDA) is to increase prosperity within our service area by facilitating the recruitment, retention and expansion of primary industry jobs, and expansion of the sales tax base through the recruitment of new destination retail businesses.
We will measure our performance through the public return on investment (pROI) resulting from our projects and, over time, through increased median household income as compared to our community’s peer group.
The BDA’s priority is to facilitate primary industry transactions that produce (or retain) jobs – aggressively seeking opportunities, developing and presenting the business case supporting a decision to select the Bartlesville area, and functioning as a ‘one-stop shop’ for prospect access to state and local incentives.
As a secondary priority, the BDA may engage in the attraction of new retail businesses provided that:
- Projected sales tax collections from the prospective enterprise are adjusted to account for ‘substitution’ revenues (sales captured from existing establishments and therefore resulting in no ‘net new’ sales tax collections) and
- The ‘net new’ revenue estimate is validated by a qualified, third-party evaluation, and
- Total local incentives are limited to a maximum of 50% of the estimated ‘net new’ sales tax collections.
Additionally, the BDA may, from time to time, be asked to engage in projects that do not produce a direct, quantifiable benefit through primary job creation or retention, but are deemed critical to enhancing or sustaining an environment where primary jobs can flourish. The BDA may consider engagement in these projects provided:
- The project’s sponsor or ‘champion’ is a primary employer within the BDA service area, and
- The sponsoring enterprise is supporting the proposed project through a significant financial investment, and
- The economic benefits of the proposed project are reasonably expected to extend beyond the sponsoring enterprise into the community at large.
In all cases, the BDA will seek to minimize public costs associated with its projects, limiting its recommendations for local incentives to the level where 1) the net public benefits are reasonably expected to exceed net public costs, and 2) this expectation is validated by a standardized, third-party evaluation.