Greater Oklahoma City is in the geographic center of North America equidistant from the east and west coasts and major trade partners of Canada and Mexico. The ten county region is at the crossroads of the U.S., sitting at the heart of three major national highways on the NAFTA corridor.
There's a reason Greater Oklahoma City is such a great place for business: Location. The ten county region is positioned within a day's drive of the rapidly-growing south-central region (OK, TX, AR, LA) projected to grow more than 44% during the next 25 years.
"97% of our natural gas needs are met from North America... Oklahoma has a lot of it and I think Oklahoma City can increasingly be seen as the center of the universe for America's onshore natural gas industry."
- Aubrey McClendon, Chairman and CEO, Chesapeake Energy Corporation
Recognizing our strong housing market and gross metropolitan product along with low unemployment rates, Oklahoma City landed at #3 on BusinessWeek's "Forty Strongest U.S. Metro Economies" list.
Oklahoma City, OK
Overall rank: 3
The Oklahoma City metro area, which includes the state capital, is an oil and natural gas center that is home to Devon Energy and Chesapeake Energy. Employment in the Oklahoma City metro peaked in the fourth quarter of last year. Gross metropolitan product in the second quarter was down just 0.8% from the peak in the last quarter of 2008. Home prices grew 2.1% in the second quarter compared with the same period a year earlier. And the unemployment rate in June was 6.6%, up 2.1 points from a year earlier. (Please see below for the various criteria used by the Brookings Institution to determine the overall ranking.)
Job growth (since peak) rank: 7
Gross Metro Product (since peak) rank: 4
Unemployment change (year over year) rank: 4
Home price change (year over year) rank: 23