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The Crossroads of America
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.
Explore the counties and cities of Greater Oklahoma City including major employers and higher education. The ten county region boasts an average commute time of 20 minutes and a skilled workforce over half a million strong.
Existing Business
Forbes names Oklahoma City as nation's most affordable
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.
Continuing praise
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.
Oklahoma urged to welcome wind industry’s builders
Published: Friday, June 26, 2009 7:00 am By: Randy EllisInternational manufacturers of wind energy components are lining up to spend billions of dollars on new U.S. manufacturing sites within the next five years.
Some of those manufacturers currently are looking at Oklahoma, but Oklahoma's ability to land those companies will depend on how prepared the state is and the willingness of officials to offer meaningful incentives, said Ed McCallum, a site location expert from Greenville, S.C.
McCallum's firm, McCallum Sweeney Consulting, has assisted many international wind energy firms with their expansion plans. He and several other experts talked to Oklahomans at a Norman wind energy conference this week about what they need to do to win the economic development competition for manufacturers of wind energy components.
"It's very competitive because there's not a lot of economic development activity and this is one that's strong," McCallum told The Oklahoman. "It's competitive not just because of the economy, but because this is the next big thing."
Incentives offered
Faced with high unemployment, many U.S. companies are offering large financial incentives to attract wind energy manufacturers, McCallum said.
If a community wants to win a site location competition, it is important that incentives be carefully targeted to the needs of wind energy manufacturers, he said.
What do manufacturers want the most?
"Anything that has to do with work force development and training is extremely important," he said. "You've got to have the work force and you've got to make sure there's a steady stream."
State praised
Large scale wind energy manufacturing has been going on a long time in Europe, but it's relatively new to the United States so there are not a lot of skilled workers available, he said.
States that have effective vocational technical schools and community colleges willing to customize courses to the needs of manufacturers are considered a big plus to the wind industry, he said.
"Some places are great at it and some places aren't," McCallum said. "Oklahoma is good. It does a good job."
Wind turbine manufacturers also are concerned about logistics, McCallum said.
"These things (turbines) are big, really, really big. But you've got to get them to market," he said. "If you can do those two things, you have a right to compete. It doesn't mean you'll win, but you have a right to compete."
Preparedness urged
Communities should be prepared before wind companies call, McCallum said. "You may only get one opportunity."
Being prepared means having a site ready to go and a regulatory process that minimizes delays in such things as obtaining permits and bond financing, he said. It also means knowing ahead of time what financial incentives can be offered, he said.
Being a state where wind power is generated is a plus for Oklahoma, McCallum said.
"People are going to talk to you," he said. "You have an opportunity guys in the Southeast don't have. The fact you have inland ports also gives you the opportunity for sales off shore."
As the state goes forward, its economic development leaders should constantly look around and compare themselves to states that are "absolutely considered the best," he said.
"Certainly Oklahoma is among the top 10," he said. He listed Georgia, South Carolina, Alabama, Mississippi, Tennessee and Texas among other top competitors, but said the list changes constantly.
McCallum said his firm has looked at Oklahoma for sites for some of its clients and continues to do so.
Companies looking
Natalie Shirley, Oklahoma's secretary of commerce and tourism, said she knows of several companies that are currently looking at Oklahoma for wind energy deals.
Oklahoma is going to get some economic benefit from wind energy just because western Oklahoma is in the corridor where wind energy is generated, she said.
"But if we just sell our raw resource of wind, then we have not taken advantage of all the opportunities that are out there," she said.
Even greater opportunities exist for the manufacture of component parts, research and development, and education, she said.
Speed is of the essence, Shirley said.
"Every minute that we twist our hands about this, some other state is figuring out a way to utilize whatever opportunities are available to it," she said.