Stillwater News Press

Local News

November 17, 2013

Trust to consider deal with Stillwater Chamber

STILLWATER, Okla. — Stillwater’s economic development arm will consider an agreement Monday that will pay the Stillwater Chamber of Commerce $150,000 to recruit industry to Stillwater and retain businesses and industries already here.

The Stillwater Economic Development Authority Board of Trustees will meet at approximately 6:30 p.m. Monday at the Stillwater Municipal Building, 723 S. Lewis.

The agreement technically runs from July 1 to June 30, 2014, and calls for two $75,000 payments to the Chamber on July 1 and Jan. 1. The authority didn’t approve the 2012-2013 agreement until November 2012.

If the agreement is approved, the Chamber will:

• Help existing Stillwater businesses to remain successful and maintain employment levels and create growth and expansion.

• Recruit industry and commercial entities that offer high-paying jobs to Stillwater.

• Use regional and cooperative initiatives to create joint recruitment activities.

• Emphasize shop local initiatives for residents and visitors.

According to the agreement, the Chamber will provide written quarterly reports outlining recruitment and retention activities and expenditures and make public presentations of its activities to SEDA or the City Council upon request.

The Chamber will also make all books and financial records on funds spent under this agreement available to SEDA for inspection, review and audit, upon request. A preliminary annual report, including expenditures, will be provided to SEDA by June 1, 2014, and a final annual report is due Aug. 1, 2014.

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