TULSA COUNTY, Okla. - Tulsa County commissioners met Tuesday to consider a tax incentive for Macy's, set to open a new distribution center and bring hundreds of jobs to the area.
The incentive would clear the retailer from paying property taxes for the next five years, saving the company roughly $1 million each year.
Tuesday's public hearing before the commissioners drew no public comment or opposition.
A representative for the Indian Nations Council of Government says this type of incentive is typical when attracting new businesses to the area.
"It's typical for a business this size, this is the largest economic development investment in Tulsa County in more than a decade," said Rich Brierre, executive director of INCOG.
County leaders say the incentive is an economic development tool that will ensure a $160 million investment and produce approximately 1,000 full time jobs.
But it will also cost the county $5 million in property taxes.
A second public hearing is set for Feb. 3.
All approvals are expected by early March and groundbreaking begins in April.