On April 3, 2023, Cleveland County Commissioners voted to allocate $1 million ARPA dollars to the Norman Economic Development Coalition (NEDC) to assist with the purchase of additional building space for their Startup 405 program to support Cleveland County entrepreneurs and business growth and development.

Now, one year later, that vision is coming to life.

Thursday, April 18, 2024 Oklahoma Governor Kevin Stitt, Cleveland County Commissioners and other dignitaries joined area business leaders to announce economic development initiatives aimed at generating sustainable economic growth throughout Cleveland County.

“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,” said District 2 Cleveland County Commissioner Jacob McHughes. “This is that time. This is that place.”

District 1 Cleveland County Commissioner and Board of Commissioners Chairman Rod Cleveland said this partnership is elevating Cleveland County by providing a well-thought-out, comprehensive strategy.

“This is just the first of many visionary strategies we will pursue to make sure Cleveland County is the #1 county for business, in the #1 state for business,” Cleveland said.

These initiatives are the culmination of a new strategic alliance between the Norman Economic Development Coalition (NEDC) and Boyd Street Ventures (BSV), made possible by ARPA investments from the Cleveland County Commissioners, Norman City Council who also allocated $1 million in ARPA proceeds, and private-sector investments from the Sooner Centurions.  

“What I like most about this is the focused, personalized support that this initiative provides,” said District 3 Cleveland County Commissioner Rusty Grissom. “The Coalition has collaborated with County Commissioners in Noble, Slaughterville, Lexington, Moore, and South Oklahoma City and is fully committed to ensuring countywide growth.”

Grissom, a small business owner and former OEC Board member said these initiatives tackle many of the hurdles faced by local business.

“Access to capital is the primary concern of startup companies and access to talent is the primary concern of established companies,” Grissom said. “This joint venture addresses both obstacles to growth and ensures that our citizens’ needs will be met through innovative, sustainable, local development.”

The initiatives include:

1. A joint venture between The Coalition and Boyd Street Ventures to pursue long-term jobs and economic growth for Cleveland County by nurturing startups and providing needed services, including seed capital and venture capital, in a soon-to-be renovated 18,000 square foot Startup 405 Center for Business Excellence:
2. The creation of a $2 million Cleveland County Centurions Growth Fund — which will be funded with $1 million from the private sector and a $1 million match by the state, managed by Boyd Street Ventures.  Its purpose is to support 20-30 Cleveland County entrepreneurs with $50,000-to-$200,000 investments.

3. An annual Beyond-the-Norm Innovation Week, promoting Cleveland County’s spirit of creativity and entrepreneurship and providing a showcase to expose local entrepreneurs to prospective investors, customers, and partners. One highlight of the 2025 event will be the dedication of the “Cleveland County Innovators Hall of Fame,” and a second component will be the Shark Byte Entrepreneurial Expo where entrepreneurs will compete in a competition for cash prizes and six months of free space and services in the incubator. 
4. A countywide talent attraction program, Cleveland County Futures, powered with a state-of-the-art A.I. engine. The early version of this program, founded in Cleveland County, received a $250,000 National Science Center grant, and will now enter phase two within the Incubator, positioning Cleveland County at the forefront of talent attraction nationwide.

Coalition President and CEO Lawrence McKinney pointed to Cleveland County’s abundant entrepreneurial ecosystem.

“No other community in Oklahoma has attempted, much less succeeded, in what we’ve announced today: a one-stop shop where emerging businesses can receive those typical services, plus potential seed funding, intensive and personalized support, and venture capital funding too,” McKinney said. 

James Spann, Founder and General Partner of Boyd Street Ventures, emphasized that their venture capital firm was founded in Norman with the aim of catalyzing Oklahoma innovation on a global scale while ensuring robust returns for investors willing to embrace risk. He pointed to the power and synergy of the economic ecosystem created by the alliance of The Coalition, incubation services of Startup 405 and strategies of BSV Venture Studio.

Governor Stitt said he is determined to make Oklahoma a Top 10 State for business and this alliance will boost those efforts.

“The partnership between the Norman Economic Development Coalition and Boyd Street Ventures will uplift business in Cleveland County,” Stitt said. “Everybody knows Cleveland County is on the rise, and I’m excited to see how Oklahomans will benefit from this bold new approach.”