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.
Noting low costs of living and good jobs, Forbes named Oklahoma City America's Most Affordable City.
At the height of the Great Recession, Forbes.com said Oklahoma City was the most recession-proof city in the country. Two and a half years later, the magazine has given the city another top ranking.
Noting low costs of living and good jobs, Forbes named Oklahoma City as America's Most Affordable City.
The magazine also noted Oklahoma City's friendly residents and an unemployment rate well below the national average, 6.3 percent compared to 9.5 percent.
"We searched for cities that had a balance of cheap living and economic prosperity - places with solid job markets, but where costs aren't prohibitive," magazine editors said. "In these cities, costs have stayed down, but residents have held onto steady incomes and decent jobs, making them a true bargain."
Forbes looked at all metropolitan statistical areas with populations of at least 100,000. They were ranked on the cost of a basket of goods and services, including groceries, health care and transportation, as of the second quarter of 2010.
The magazine also measured the monthly cost of housing as a percentage of household income.
The average sale price of an Oklahoma City-area home in September was $158,755, up 6.7 percent from September 2009, and the median price was $135,000, up 4.8 percent, according to the Oklahoma City Metro Association of Realtors.
The next four spots on the Forbes list went to Pittsburgh; Buffalo, N.Y.; Rochester, N.Y.; and Nashville, Tenn. The top 10 also includes three Texas cities: San Antonio, Houston and Austin, along with Louisville, Ky., and Birmingham, Ala.
"State capitals and university towns have vibrancy because of their job base, the stability of jobs and cultural diversification," said James Gaines, a research economist at the Real Estate Center at Texas A&M University.
The ranking was the latest in a string of kudos for Oklahoma City. In October, Oklahoma City was named a Top 25 Performing City by the Milken Institute, No. 7 Best City for Income Growth by Portfolio.com, a Top 5 Fastest Growing City by Forbes and a Top 10 State for Doing Business by Area Development Magazine.
"In times like these, value is key to everything we do as a chamber," said Roy Williams, president and CEO of the Greater Oklahoma City Chamber. "From attracting new business, retaining and fostering growth with our current companies to attracting conventions and visitors, the number one factor on everyone's mind is value. Affordability isn't always about being the cheapest, it is also about the quality you get for your dollar."
The Boeing Co. recently announced plans to move 550 high-paying engineering jobs here. The company cited low costs of living and doing business and economic development incentives in the decision to move the jobs from Long Beach, Calif.
State News Service
The following information was released by the Oklahoma Department of Commerce:
Find out how your manufacturing business can become part of the emerging wind industry supply chain. Oklahoma manufacturers: Are you interested in learning about the following:
New business opportunities in the exploding wind industry supply chain market;
Current global trends driving market demand for key components in an already sold-out supply chain;
The wind industry supply chain structure and the kinds of components needed;
What wind industry OEMs look for in their suppliers; and, Where (or if) your manufacturing business fits in the wind industry supply chain?
What: Oklahoma Wind Supply Chain Workshop
When: Thursday, Oct. 15, 2009; 7:30 a.m. to noon
Where: Oklahoma City Community College (OCCC) Student Union, 7777 S. May Avenue
Cost: $95 per person (before noon Monday, Oct. 12); $105 after Oct. 12
Payment Options: Credit cards and advance payment preferred
Online registration: www.okcchamber.com/events (Page 2 of the events calendar)
Space is limited, so register today!
If you operate an Oklahoma manufacturing business that produces power electronics, control systems, hydraulics, fasteners, brakes, blades, nacelles, or supplemental equipment such as ladders, elevators, hoists, fire suppression, lighting, or meteorological equipment, then the Oklahoma Wind Industry Supply Chain Workshop is for you.
If you operate a foundry, forge, machine shop, or fabricating plant in Oklahoma, then the Oklahoma Wind Industry Supply Chain Workshop is for you.
The Oklahoma Wind Industry Supply Chain Workshop brings Ed Weston, Director of the Great Lakes Wind Network (GLWN) and one of the most popular panelists at Wind Commerce 2009, back to Oklahoma--along with Matt Garran, GLWN Technical Director--to help our manufacturers capitalize on the many opportunities offered by the domestic and international wind industry.
Workshop sponsors are: the Greater Oklahoma City Chamber of Commerce, the Oklahoma Department of Commerce, and Oklahoma Gas and Electric.
7:30 a.m. Doors open/registration and continental breakfast
8:15 a.m. Welcoming comments
8:20 a.m. GLWN welcome and workshop overview
8:30 a.m. Supply chain success story
8:45 a.m. New opportunities/global trends QandA
9:30 a.m. Networking break
9:50 a.m. Wind supply chain structure QandA
11 a.m.Networking break
11:20 a.m. OEM requirements and next steps for Oklahoma manufacturers QandA
For questions about registration or the Workshop, please contact Melissa Rajeski, Greater Oklahoma City Chamber of Commerce, 405-297-8921, firstname.lastname@example.org.
The Great Lakes Wind Network (GLWN) is a non-profit, manufacturing-based component head hunter for wind industry OEMs and a resource for manufacturers across the country. GLWN, founded in 2007, is helping to increase the domestic content of North America's wind turbines