Texas & Louisiana City Scoop: Construction Starts in Oklahoma City
Total Construction, Led by the Residential and Non-Residential Sectors, Will Rebound in 2017
Non-building activity is expected to post a sharp decline thanks to a drop-off in electric utilities work.
City Grill
Hugh A. McCoy
Senior Vice President
Manhattan Construction Co.
Although the sagging oil and gas market has hurt the local economy, McCoy says construction has been buoyed by the city’s MAPS program (Metropolitan Area Projects). It institutes a one-cent sales tax to finance projects debt free. The program’s third round—MAPS 3—will fund $777 million in work through 2021. McCoy says the private sector is echoing the boom, noting that Manhattan is targeting $1.6 billion in regional projects in the next 12 to 18 months. “Oklahoma City is going through a once-in-every-decade construction cycle,” he says.
Firm in Focus
Guernsey
555 N. Grand Blvd., Oklahoma City
CEO/President/Chairman: Suhas Patwardhan
Founded: 1928
Gas Savings: Oklahoma City recently hired Guernsey to manage its third-party natural gas resources for more than 40 facilities. The agreement aims to save the city around $200,000 annually.
