By James C. Collard, Ph.D.
Looking around the metro, signs of economic life continue to percolate. Travel, hospitality and energy sectors are pulling themselves off the mat, and our state looks to emerge from the trials of the last year stronger than before. Look at the latest sales tax returns for Oklahoma City. Collections were up 38% compared to 2020, setting a record of $47.1 million.
For the manufacturing sector, economic prospects are slowly moving in the right direction. And Oklahoma-based manufacturers have a tool that can accelerate their return to normal.
Just a short distance from Oklahoma City is the Iron Horse Industrial Park, an economic development instrument that will propel our state economy forward. Iron Horse sits within the OKC metropolitan area and is situated on the national rail line network, less than 10 miles from Interstate 40. It’s location on Citizen Potawatomi Nation trust land allows for tax savings from the state and tribal governments. I’m confident in saying it’s one of the best tax packages around for manufacturers of all sizes.
We can help small and medium-sized Oklahoma firms move their product by rail or road, sometimes both. Our on-site transload facility is one of the few entities of its kind in the area, allowing us to transport products quickly. Anyone familiar with the logistical and supply chain challenges of the past year will find a ready partner here at Iron Horse.
We can also help SMEs offset costs on tariffs or tax burdens that larger corporations can easily price into their budgets.
For companies shipping to or from international markets, our foreign trade-zone designation saves money in the form of duty deferrals and exemptions. Iron Horse’s strategic location in the center of the country is ideal for businesses importing and warehousing, or simply manufacturing and assembling with imported goods. And our office is staffed with certified trade professionals with the knowledge and networks to prepare customs paperwork or other legal details to get our customers’ products out the door.
Despite supply chain and logistical challenges holding back some manufacturers, Iron Horse stands ready to help evaluate any company’s challenges to find opportunities to move product and make a profit.
James C. Collard Ph.D. is the director of economic development at Citizen Potawatomi Nation, which owns and operates Iron Horse Industrial Park just outside of Oklahoma City. Learn more at www.ironhorsecpn.com.