Old Financial Gamble Pays Off Big For OKC - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |

Old Financial Gamble Pays Off Big For OKC

Posted: Updated:
Norick was mayor in 1993, when voters agreed on a one-cent sales tax increase. The money raised funded new city projects like the Bricktown Ballpark, the Bricktown canals, and Chesapeake Arena. Norick was mayor in 1993, when voters agreed on a one-cent sales tax increase. The money raised funded new city projects like the Bricktown Ballpark, the Bricktown canals, and Chesapeake Arena.
OKLAHOMA CITY -

A huge financial gamble by Oklahoma City nearly 20 years ago, has paid off more than ten times over, according to former Mayor Ron Norick. 

Norick was mayor in 1993, when voters agreed on a one-cent sales tax increase. The money raised funded new city projects like the Bricktown Ballpark, the Bricktown canals, and Chesapeake Arena.

Norick says without the arena, OKC had no chance at the NBA, much less landing an NHL franchise. 

"I knew private investment would come if we as a city would do the public investment first, which was $350 million. I thought maybe we could get two or three times that in private investment.  But we really hit a homerun.  We've gotten ten or twelve times that," Norick said.

These days Norick operates a local investment company, and he's still also heavily involved in several volunteer and civic causes.

Special Features

iPhone App

Get breaking news, weather, sports & video directly on your iPhone.

Politics

Breaking political news & the latest headlines from the state capitol & D.C.

Radars

See where weather is happening using our live interactive radars.

Technology

Spend your money wisely with reviews of new tech gadgets & the latest news in technology.

TV Schedule

Need to know what's on TV? Check out our television schedule.

Live Radar

WARN Interactive
Powered by Frankly
News 9
7401 N. Kelley Ave.
Oklahoma City, OK 73111
News9.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KWTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.