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.
Metropolitan statistical areas are geographic entities defined by the U.S. Office of Management and Budget (OMB) for use by Federal statistical agencies in collecting, tabulating, and publishing Federal statistics. An MSA contains a core urban area of 50,000 or more population, consists of one or more counties and includes the counties containing the core urban area, as well as any adjacent counties that have a high degree of social and economic integration (as measured by commuting to work) with the urban core.
Oklahoma City residents can expect to spend less on building streets and bridges, thanks to receiving the highest debt rating possible from Standard & Poor's.
The move from AA+ to AAA puts the city into an elite group of the best municipal credits in the market.
"When it comes to economic news, this is as good as it gets," Mayor Mick Cornett said Tuesday in a news conference at City Hall.
Oklahoma City is the only city in the state to receive the top rating, which was released Monday. A few of the factors that contributed to Oklahoma City's high rating include:
City Manager Jim Couch credited a veteran city staff with making the rating possible. Some of the same staffers also have led in redevelopment plans for the Skirvin Hilton hotel, creation of the Dell campus along the Oklahoma River, and the luring of Bass Pro Shops to Bricktown.
Couch said the high ratings will translate into lower interest rates the city pays to sell bonds to fund major capital projects like streets, bridges, buses, sidewalks and trails and park improvements. Those savings, he said, will be available to spend on bond projects.
The city's next bond sale will be April 9, and Couch said the new rating ought to help the city in what has been a strained market since September's economic crash.
The rating also showed the national bond rating agencies' confidence in the city's investment climate, Couch said. Other comparable cities with a AAA rating include Phoenix, Austin, San Antonio, Denver, Indianapolis, Minneapolis, Charlotte, Columbus and Seattle.