TULSA, Oklahoma - A Tulsa manufacturing business announced Friday they're building a multi-million dollar facility on the city's north side.

Muncie Power Products will be the first company in a planned business park to revitalize the area near 36th Street North and Peoria.

"What a great day," said G.T. Bynum, Tulsa's mayor, at a press conference Friday morning. "What a great day this is for Tulsa."

Mayor Bynum, company management, and city leaders announced Muncie will be the first company in the proposed industrial park.

"It's really a unique opportunity to be something bigger than ourselves," said Ray Chambers, the president and CEO of Muncie.

Chambers said they chose the area to expand, hoping they'll be the catalyst for more development in the area.

"We should be able to retain the people that are here and add more should they apply," he said.

The expansion is part of a combined effort by the city and the George Kaiser Family Foundation to bring living waged jobs and activity to north Tulsa. The park called Peoria Mohawk Business Park will be enhanced by public investment dollars, already approved by vision Tulsa.

District 1 Councilwoman Vanessa Hall-Harper says improved transportation options in the area will also help with bringing good paying jobs to that neighborhood.

"These jobs have the potential of changing lives," Hall-Harper said. "These jobs can pull people off of welfare so they can be self-sufficient."

And Hall-Harper hopes this is just the beginning of exciting opportunities for her district and the community.

"This is a great opportunity to help impact the quality of life," said Hall-Harper.

Construction on the warehouse should begin later this year.