$ 124 million development plan to transform Ardmore industrial airport into international, multimodal logistics hub
Oklahoma’s redeveloped Global Transportation & Industrial Park will bring global business opportunities, economic development and jobs to the region
ARDMORE, Oklahoma, August 4, 2021– (COMMERCIAL THREAD) – As part of a $ 124 million development plan announced today, a significant part of Ardmore Industrial Airport will become a state-of-the-art international multimodal logistics facility. The newly developed Oklahoma Global Transportation and Industrial Park (GTIP) includes over 200 acres of ready-to-shovel and custom-built land that will provide new opportunities for air, rail and road transportation, as well as space for transshipment, warehousing, distribution and manufacturing.
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The new Global Transportation & Industrial Park of Oklahoma (GTIP) includes over 200 acres of custom-built, shovel-ready land that will provide new opportunities for air, rail and road transportation, as well as space for transshipment, warehousing, distribution and manufacturing. (Photo: Business Wire)
As part of a public-private lease between owner Ardmore Development Authority (ADA) and WP Global Holdings, LLC., A partnership between Watco, Knightsbridge Partners, and Chickasaw Nation, WP Global will complete a phased development of the park. The project is expected to stimulate employment and economic development in Oklahoma.
âThe GTIP will serve as a global hub for trade and is a prime example of what can happen when private, local, state, tribal and federal entities work together to achieve a common vision,â said Mita Bates, President and Chief Executive Officer. ADA management. âThe GTIP will have an incredible impact. We are grateful for the support we have received from WP Global, the Ardmore community, and representatives from the State of Oklahoma to bring this project to fruition.
Located in the heart of the Chickasaw Reservation, approximately 90 minutes from the Oklahoma City metropolis and Dallas / Fort Worth, GTIP is strategically located between many of North America’s largest business centers. The site also has direct rail access to a main line of the BNSF railway, a fully functional airport with 9,000 feet. and 5,400 sq. ft. runways, quick access to five major highways and unencumbered air and land traffic. As an approved US foreign trade zone, the GTIP can accommodate global trade. Recent improvements to electricity, telecommunications, water, sewers and natural gas position the park for immediate development.
âThe Global Transportation and Industrial Park will be a game-changer, not just for Oklahoma, but for the entire country,â said US Representative Tom Cole. “The development will allow air cargo to travel more efficiently throughout the region and attract companies interested in reaching major US markets in a fraction of the time it normally takes. I am honored to champion the project and to celebrate this monumental step with ADA and WP Global. “
Watco CEO Dan Smith said, âCustomers are the lifeblood of Watco’s business. The GTIP site uniquely responds to customer needs, providing direct, unencumbered access to air, rail and road transport from a location that tenants can tailor to their needs. We are excited to by creating GTIP as a customizable, centralized manufacturing and logistics hub that will provide current and potential customers with virtually unlimited new connectivity to regional, national and global markets. “
A recent economic analysis conducted by Dr. Russell Evans, Ph.D., acting dean and professor of economics at the University of Oklahoma City, predicts that the total potential economic impacts of the GTIP range from 8,402 to 18,653 new jobs with $ 514.5 million to $ 1.2 billion of new jobs income in Oklahoma alone. The overall development and operations of GTIP are expected to generate a total economic impact for the state of Oklahoma ranging from $ 1.7 billion to $ 3.8 billion.
WP Global is seeking federal grants to help fund the air freight and rail portions of the project. In part, the grant applications highlight the employment opportunities that will be created for residents of rural Oklahoma. The development plan includes approximately $ 99 million for infrastructure improvements and $ 26 million for additional warehouses, manufacturing and distribution facilities. As part of the construction, a 10,000 square foot customs facility will be constructed. The development plan for the industrial park will be powered by solar energy, including charging stations for electric vehicles.
âThis project is supported by government agencies in Oklahoma, the City of Ardmore, Carter County and many other public and private stakeholders,â said Chickasaw Nation Governor Bill Anoatubby. “We are pleased to add the support of the Chickasaw Nation to this major overhaul of an underutilized asset.”
Current park tenants include the largest distribution facility in the Dollar General network; Dollar General Fresh, a new concept of fresh products; and King Aerospace Commercial Corporation, which will continue to expand its maintenance, repair and overhaul activities in the fleet. GTIP is positioned to grow as ADA and WP Global secure new tenants.
About WP Global Holdings, LLC.
WP Global is a joint venture of Watco, Knightsbridge Partners and the Chickasaw Nation in partnership with the Ardmore Development Authority and the State of Oklahoma. This public-private partnership was formed with the aim of making the Ardmore Industrial Airpark an international multimodal freight hub. Watco is a leading transportation and logistics services company. Knightsbridge Partners and its subsidiary Cowboy Holdco, is a strategic development company with expertise in asset management, investment banking, capital raising, advisory solutions and corporate finance. The Chickasaw Nation is a federally recognized First Nation of America of more than 70,000 citizens and tribal jurisdiction in all or part of 13 counties in south-central Oklahoma.
About the Ardmore Development Authority
The Ardmore Development Authority, a public trust in the City of Ardmore, provides a single point of contact for information, proposals, planning and on-site assistance for new and existing industries in Ardmore, Oklahoma. The ADA has three industrial parks and several unique sites and buildings, providing both the power and the incentive to negotiate favorable terms for growing businesses.
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Tracie VanBecelaere | (620) 704-1288 | [email protected]