Norman reveals economic plans to support business startups | News

Gov. Kevin Stitt, Mayor Larry Heikkila, Cleveland County Commissioners and other Norman business leaders announced economic development initiatives such as an investment growth fund, talent program and startup center for Cleveland County, all meant to generate sustainable economic growth by supporting entrepreneurship and business startups, ahead of OU’s move to the Southeastern Conference. 

These initiatives announced at Thursday’s press conference will help support economic growth in Cleveland County by supporting business growth: 

• Startup 405: a joint venture from the NEDC and Boyd Street Ventures to encourage jobs and economic growth by nurturing startups and entrepreneurs.
  

• $2 million Cleveland County Centurions Growth Fund: funding by the state and private sector to support entrepreneurs.
  

• Beyond-the-Norman Innovation Week: a week-long celebration and showcase for local entrepreneurs to see prospective investors, customers and partners. 
  

• Cleveland County Futures: a countrywide talent program powered by a state-of-the-art artificial intelligence engine.
  

These initiatives are jointly overseen by the Norman Economic Development Coalition and Boyd Street Ventures. According to a press release sent Tuesday, the partnership was made possible by investments of American Rescue Plan funds from the Cleveland County Commissioners and the Norman City Council, and private sector investments from the Sooner Centurions. 

NEDC and Boyd Street Ventures are collaborating to transform Startup 405 into a business incubator, certified by the Oklahoma Department of Commerce and operated by NEDC. 

Within the joint venture is a soon-to-be renovated 18,000 square foot Startup 405 Center for Business Excellence on Main Street in the building that formerly housed Copelin’s Office Center, where the press conference was held Thursday. The center will be aimed at nurturing startups and providing services in seed capital and venture capital, according to a press release. 

The building will hold 20 offices, an event center, collaborative spaces for new startups, a cafe area and a space for Boyd Street Ventures, according to a floor plan at the event. Another incubator, similar to the one set to open on Main Street, is in the works at Mid-America Christian University, which resides in Cleveland County about 25 miles northwest of OU. 

Startup 405 will admit startup enterprises that have developed a product or service that “fits the mission” of Startup 405, are less than five years old, have no legal claims or lawsuits at the time of applying, have the financial means to remain in business for at least six months and have a written business summary, according to a handout given to OU Daily at the event.  

Norman Chamber of Commerce President and CEO Scott Martin said what kept him in Norman after graduating from OU was a job opportunity. With Startup 405, Martin said the business incubator is intended to provide the same opportunities to students who will graduate in the upcoming future, as well as students who attend Moore Norman Technology Center and high school graduates entering the workforce. 

Martin said despite Startup 405 being located in Norman, the effort to increase business ventures is meant to take root across all of Cleveland County and assist young businesses in getting off the ground before they stand on their own. 

“We need places like Startup 405 that is gonna provide the resources and support for new businesses,” Martin said. “Startup 405 really does let them begin to plant their roots, preferably here in Norman, this is countywide, so certainly within Cleveland County.” 

In addition to Startup 405, a $2 million Cleveland County Centurions Growth Fund will also be created. The $2 million fund will include $1 million from private sector sources and a $1 million match by the state. The fund will be managed by Boyd Street Ventures and will support about 20-30 Cleveland County entrepreneurs with $50,000-$200,000 investments. 

Beyond-the-Norm Innovation Week will be a weeklong celebration aiming to showcase local entrepreneurs to investors, customers and partners. In 2025, this week will honor current and former Cleveland County residents who have brought innovation to the business, science, technology and arts spaces, the press release read. 

The week will also include a Shark Byte Entrepreneurial Expo, where entrepreneurs will compete in a competition similar to the reality TV show “Shark Tank” for cash prizes and six months of free work space, NEDC President and CEO Lawrence McKinney said during the press conference Thursday. Competition categories will include high school, technical school, college and university and Cleveland County residents. 

A countywide talent attraction program, Cleveland County Futures, will also be created and powered by an artificial intelligence engine. McKinney said this program could help the community understand and switch industries, calling it a cutting-edge program nationally. This will help employers and residents understand their skill sets better, McKinney said. 

“(Cleveland County Futures) will be a hub of visionaries, dreamers, people with ideas of all ages, all walks of life, where they can come together and they can dream together,” McKinney said. 

Stitt said the American entrepreneurial dream is alive and well in Oklahoma, adding that business success allows for an economic boom which would help support other state priorities like education and infrastructure. 

“We believe in education, we want the best workforce and education for our young people,” Stitt said. “I think we can all agree on that regardless of where we’re at on the political spectrum.”

As he was leaving the event, Stitt told OU Daily the initiative is what he means when he talks about making Oklahoma the most business-friendly state. 

“There’s a lot of entrepreneurs, especially from the University of Oklahoma, guys that have ideas and young ladies that are thinking about something but they just don’t know how to take it from idea to actually a business,” Stitt said.

In his 2024 State of the State address, Stitt said his goals regarding business are making Oklahoma the easiest place to start and grow a business, hoping that entrepreneurs will flock to the state in hopes of expanding the brand. In the address, Stitt said he also hopes for college students to stay in Oklahoma post-graduation. 

James Spann, founder of Boyd Street Ventures, said more companies will be operating in Norman within three to five years because of initiatives like this, which will result in people wanting to move back to Norman. 

“We’re gonna start to see people want to move back to Norman,” Spann said. “A lot of my peers and people I talked to, they want to move back to Norman, but they want to be able to come here and have jobs and have a community that’s thriving.”

Spann said the investments Norman leaders make today will pay off in coming years as businesses reinvest in the city that helped lift them off the ground. 

Martin said he’s lucky Norman has such a vibrant workforce and that he, NEDC, the Norman Chamber of Commerce and Visit Norman are all dedicated to retaining talent within Norman. 

Last year, OU announced it would be moving to the SEC after the 2023-24 sports calendar. In September, Team Norman and city leaders announced plans for a $1 billion entertainment district in University North Park that would include a new home for OU basketball and women’s gymnastics, as well as housing, shopping and corporate spaces. 

McKinney said OU is a source for lots of entrepreneurial ideas in the state, adding that Price College of Business Dean Corey Phelps and other OU faculty serve on the NEDC advisory board and the coalition works very closely with Price and the Innovation Hub. 

McKinney said NEDC will be going countywide and Sooner Centurions is already involved with Cleveland County. NEDC was referred to as “the Coalition” throughout Thursday’s programming, a name McKinney said is transitional until a countywide rebranding is determined.

McKinney said Thursday’s announcements were not the only to come, teasing that, on April 30, NEDC will hold another event with Stitt to announce the arrival of a company to Norman that will allegedly be the largest private sector employer in the city. McKinney did not name the business but said it would bring over a thousand jobs to Norman.  

Heikkila said Norman is in a renaissance, noting the current proposed entertainment district in University North Park and hopefully bolstering business growth on the east side of Norman. Heikkila said it is a privilege to be the mayor during this time, given the economic developments. 

“Norman and Cleveland County affect each other, so what happens in Norman, it’ll do some things for the county, and we want to keep those kinds of partnerships,” Heikkila said. 

Heikkila pointed to the successes of people like Hal Smith, who owns and operates several restaurants; Ken Parker, NextThought co-founder; Sean and Scott Bauman, CEO and chief operating officer of biotechnology company IMMY respectively; and Pete Wilson, who owns the hat manufacturing business Top of the World. 

Smith owns and operates restaurants like the Garage, Pub W, The Winston, El Huevo, Louie’s, Mahogany Prime Steakhouse, Neighborhood JA.M. and Toby Keith’s I Love This Bar & Grill. Smith is currently planning to build another restaurant near campus on the corner of Lindsey Street and Berry Road. 

Heikkila said he hopes the successes of these once-local businesses can be emulated by future entrepreneurs through the partnership. 

Beyond Heikkila, city leaders presented at the event, including City Manager Darrel Pyle and Matthew Peacock, current Ward 8 council member and Ward 2 council member-elect. 

All three board members of Cleveland County Commissioners spoke at the event, including District 2 Commissioner Jacob McHughes, who said the commissioners are proud to be a part of this initiative. 

“For Cleveland County to meet the needs of our cities and citizens, we must embrace change in a direction of our choosing, at a time and place of our choosing,” McHughes said. “This is that time. This is that place.”

This story was edited by Karoline Leonard and Anusha Fathepure. Grace Rhodes copy edited this story.