Tulsa Premium Outlets Drive Significant Sales Tax Growth for Jenks

Jenks, Oklahoma is experiencing a significant economic boost nearly a year after the opening of the Tulsa Premium Outlets. The development has led to a substantial increase in the city's sales tax revenue, enabling improvements in public services and infrastructure. Local businesses are also anticipating positive impacts from the increased foot traffic.

Economic Impact

Since its opening on August 15, 2024, the Tulsa Premium Outlets has been a transformative force for Jenks. The city has seen a remarkable surge in sales tax revenue, with figures showing an increase of over 38% from August of the previous year through June. This revenue is crucial for municipalities like Jenks, as it is the primary source for funding essential services such as street improvements, and the hiring of additional firefighters and police officers.

Development and Future Plans

The 340,000-square-foot outdoor mall, developed by Simon Property Group, features over 75 retailers and several dining options. It also includes amenities like a children's play area, a fire pit, and a fountain. The mall is situated within a tax-increment financing (TIF) district, which captures future tax benefits to help pay for development costs. This TIF is set to expire in 25 years. Several new developments are planned for the areas surrounding the mall, including restaurants, a medical spa, and additional hotels, further promising economic growth for Jenks.

Community and Local Business Perspective

Jenks Mayor Cory Box expressed enthusiasm for the mall's success, noting that the city had already been planning for growth in public safety and infrastructure. The mall's development has accelerated these plans, leading to incremental growth in the police department over the past two years and the hiring of six to nine additional firefighters. Local business owners are optimistic about the mall drawing visitors who will then explore downtown Jenks, visit the Oklahoma Aquarium, and patronize local establishments. The goal is to encourage these visitors to extend their stay and spend more within the community, supporting the "shop local" initiative.

Addressing Growth Challenges

While the economic benefits are clear, Mayor Box acknowledges the challenges that come with rapid growth, particularly concerning aging infrastructure and the need for future maintenance. He highlighted that Jenks' previous reliance on sales tax from a single grocery store was not a sustainable model for long-term growth. The mall provides a much-needed diversification of income sources, ensuring the city can meet its future financial obligations without placing an undue burden on future generations. The mayor also emphasized the desire to maintain the city's small-town feel despite the expansion.

Sources

• How Tulsa Preimum Outlets has been a boon for Jenks, Tulsa World.

• Jenks community excited for Tulsa Premium Outlets after long wait, KJRH.