Norman, Oklahoma – best known (until now) for college football – is going all-in on a music and entertainment megaplex as its economic Hail Mary.
The city council just approved a phased plan for a $1 billion entertainment district complete with a multipurpose arena, performance venue, outdoor plaza, hotel and retail village. More than $600 million of that is coming from public TIF financing (so essentially betting the farm on future tax revenue).
The idea is to turn Norman into a destination for concerts, sports, and nightlife – think mini-Nashville or a Big 12 version of Austin. Supporters insist this will be an “economic catalyst” that keeps alumni and tourists spending money in town instead of fleeing to OKC or Dallas.
Critics, of course, are clutching their wallets, noting the legal fights and a failed referendum effort to stop what they see as a white elephant in the making.
Will Norman’s big bet hit a high note or just leave taxpayers singing the blues? For now, the plan is moving ahead, proving that even mid-size cities have caught the “Music City” fever – willing to gamble on arenas and amphitheaters in hopes of striking fiscal gold.