Wednesday, February 10, 2016

Economic update fro the Grand Lake, OK area, February, 2016

Economic update for the Grand Lake area

of NE Oklahoma.

New businesses and expansions coming to the Grand Lake area creating up to 500 new jobs over the next 4 years.

A new 120 room hotel is being added to the Shangri-La Golf Resort on Monkey Island at Grand Lake.  The new hotel will be accessible by land and water and will have a casual dining restaurant, convention space, resort pool plus a indoor & outdoor bar/grill.  The hotel will replace the previous Shangri-La hotel that was closed and demolished in 2006.

The Cherokee Nation has announced plans for their 10th Casino in Oklahoma….The new Cherokee Casino at Grove, OK.  The new casino’s first phase will start this year and be built just North of Sail Boat Bridge north of Grove, OK.  The initial phase of the casino is suppose to be 39,000 sq ft and have 400 Electronic games plus dining, dancing and Lots of FUN. The initial phase should provide 175 new jobs to the area.

Ferra Aerospace is building a 6 million dollar expansion in Grove, OK close to the Regional Airport on HWY10.Plans are to hire an additional 100 workers over the next 4 years in High quality/High paying jobs.  There is several other businesses in the Grove Business Park that work for and with Ferra Aerospace on aircraft components.  Two major U.S. programs the company works on are the F35 Strike Fighter and the Black Hawk Helicopter.

How important are manufacturing jobs to the community?  The 100 new jobs Ferra Aerospace will create generate another 250 service sector jobs in the immediate area.
Information provided by
Wayne Short
RE/MAX Grand Lake