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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.
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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.
Hitachi to add Norman jobs
Work has begun on a 200,000-square-foot distribution center to streamline company's efforts
Published: Tuesday, January 12, 2010 7:00 am By: Debbie BlossomNORMAN - Hitachi Computer Products America Inc. on Monday said it will expand its Norman facility with the construction of a new distribution center.
Work on the more than 200,000-square-foot building has started, said Gary Riggs, vice president of information technology and human resources at the Norman facility.
The plant sits on 69 acres, and there is plenty of room for a distribution operation, which will be constructed on the north side of the 162,000-square-foot plant at 1800 E Imhoff Road, Riggs said.
Hitachi is consolidating its U.S. distribution operations, relocating all North American and South American functions from Indianapolis to Norman, the company said.
The company's Asian distribution operations will be in a new center in Singapore.
With prep work already in process, "the plan is to be fully operational by Oct. 1," Riggs said.
Hitachi will add employees, and hiring will start in June, he said. Riggs could not confirm how many employees will be added at the plant.
But Don Wood, executive director of the Norman Economic Development Coalition, said about 75 jobs will be added.
Wood said Hitachi came to the coalition with an opportunity to streamline its distribution system and expand here, and the agency helped Hitachi through the application process for a new state incentive program created to help economic development projects.
The Oklahoma Community Economic Development Pooled Finance Act was approved by legislators and signed into law last May and went into effect last November.
The new incentive program, which provides up to $200 million of taxable bond proceeds for investments in local economic development projects, "perfectly matched Hitachi's needs," Wood said. "This will be the first project funded by this program."
Hitachi has been in Oklahoma since the mid-1980s, Woods said.
"We are very pleased to be expanding and are appreciative of the governor's program that is helping us to do that," Riggs said.