5 Big Economic Projects In Oklahoma City In 2024

Big announcements about Oklahoma City made global headlines in 2024. Several projects were set in motion for years to come, ranging from Olympic events to multi-billion dollar investments. These five takeaways are among the most celebrated in the city.

2028 Olympics

In June, it was announced that Oklahoma City will be hosting two Olympic events as part of the LA28 Summer Olympic Games. 

While the Los Angeles City Council still needs to give the venue change one final approval, the Greater Oklahoma City Chamber said the news has ignited a chain reaction in the metro.

"We are already seeing more interest from a retail perspective, a developer perspective in OKC because of the Olympics announcement," said Christy Gillenwater, the chamber's president. "It just puts us on a different level in terms of the national appeal that, now, we have."

New Arena

Near the end of 2023, Oklahoma City Voters approved a new $900 million arena.

More Coverage: Downtown OKC Prepares for Demolition Ahead of Construction of New $900 Million Arena

In 2024, city leaders selected the city-owned site currently home to Prairie Surf Studios to build the new project. The arena also came with a commitment that the Oklahoma City Thunder would stay in the city at least through 2050.

"We can't wait for the new arena in 2028," Gillenwater said. "There will be a lot of change in the landscape downtown as construction starts and demolition."

Multi-Purpose Stadium

At the start of the year, the city also increased the budget for its MAPS 4 multipurpose stadium. $41 million of the funding comes from MAPS 4, while an increase of $30 million will be funded by tax increment financing.

The OKC Energy has been on a hiatus since 2022 but will call the facility home once is finished in 2027.

In November, former Thunder player Russell Westbrook announced a $10 million investment in Echo Sports, the group responsible for the development.

Boardwalk at Bricktown

In the same general area, Matteson Capital is planning a $1.6 billion mixed-use development, including plans for what would be the tallest skyscraper in the country. The ambitious skyscraper would be surrounded by three other smaller towers, which are expected to go under construction sooner.

Learn More: Key Developments, Challenges in OKC's Boardwalk at Bricktown Project

"The boardwalk at Bricktown has had a lot of international play for sure," Gillenwater said. "And, again, excited to see that first tower break ground in 2025."

Disapproval from the FAA has sparked some skepticism about the 1,907 ft. tall Legends Tower, but the developers have said they are not scrapping the project.

Film

Gillenwater also celebrated Oklahoma City's success on the film screen, driven by Twisters.

She said her office will continue to evaluate and find opportunities for the film industry in the metro.

The current home of Prairie Surf Studios, where portions of Twisters were shot, will be demolished to make way for the future home of the Thunder.

Neither the chamber nor the city or Prairie Surf Studios, have publicly announced where in the metro the studio might find a future home.