Oklahoma Business Reacts To New Laws Focused On Economic Development

At the state Capitol, two bills were signed into law that are focused on recruiting and retaining business in the state.

Senate Bill 1447 and House Bill 3252 will work hand in hand, redirecting the purpose of the Department of Commerce, to ensure it is focused on economic development.

“Oklahoma has been on a fantastic trajectory,” said Kermit Frank, with Dolese. “Economic development drives mostly everything.”

As Oklahoma continues to grow, companies like Dolese, continue to thrive, both as a state-owned business, and as an economic driver.

“Dolese is a construction material supply company, we've been here for 125 years,” said Frank.

“Economic development drives growth, growth drives construction, construction drives what we do. We provide the foundational materials, the concrete, the rock that goes in asphalt, and all of the things you build a building with, that all starts with things that we make.”

Right in Dolese’s backyard, a new go-cart park is being built, in addition to the recently finished office buildings, apartment complex and restaurants in the area.

“You invite more business, create more jobs, people want to be entertained, people need new offices, people need new restaurants,” said Frank.

Dolese has offices and jobs across the state, so Frank says the company benefits from any kind of economic development. 

“We're all for economic development, all for growing the pie, all for making our state bigger and better,” said Frank.

State lawmakers say these new laws will give the agency a better focus and set the course for success.

“Senate Bill 1447 and House Bill 3252 are great extensions of the work we started last year with modernizing the way that Oklahoma tackles workforce development. As you work on workforce development, you cannot overlook economic development,” said Chad Warmington, president and CEO of The State Chamber of Oklahoma. “We are really excited to see these changes implemented and see the benefits of a mission oriented, focused, and well-funded organization that will lead economic development in the State of Oklahoma.”

“Senate Bill 1447, also known as 'The Compete Act', is groundbreaking legislation for Oklahoma. It focuses on fostering innovation and supporting small businesses, using a targeted approach to attracting new industries to our state,” said Sen. Kristen Thompson, (R-Edmond) “By providing a systematic and strategic framework for economic growth and revitalization, we are laying a solid foundation for entrepreneurship and economic dynamism, without any additional cost to taxpayers.”

“Over the years, like most other organizations, the Department of Commerce has experienced some mission creep. HB 3252 works in conjunction with SB 1447 to refocus the Department of Commerce on what it was chartered to do […] grow, develop, expand, nurture, and support the Oklahoma economy and Oklahoma business,” said Rep. Mike Osburn, (R-Edmond).