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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.
California reporter sees the modern truth of Oklahoma City
Published: Tuesday, June 16, 2009 7:00 am By: Steve LackmeyerToday's business cover story - a reversal of "The Grapes of Wrath" - marks a triumphant moment at the Greater Oklahoma City Chamber, but is mostly newsworthy because of its initial audience: thousands of Californians.
Sacramento Bee reporter Phillip Reese spent five days in Oklahoma City talking to California transplants who recently made their home here and surveyed for himself a community that bears little resemblance to the images that have haunted Oklahoma since the 1930s.
Interviewees told a story most locals already know: wages are lower than the coasts, but costs are lower as well and the net difference tends to go in Oklahoma's favor.
Add in pictures and video from Bricktown, the Heritage Hills neighborhood, the Arts Quarter and other hip city backdrops, a relatively healthy unemployment rate, and you end up with a tantalizing way out for thousands of Californians who are enduring a far grimmer picture in the Golden State.
Roy Williams, chamber president, admits this kind of coverage far outshines any magazine ranking (though he's still very happy with the marks the city has been collecting the past couple years).
"When you talk to the man on the street, that has more credibility than any magazine or third party crunching numbers," Williams said Monday. "Sure, we use them because it's often the only third party info that exists. But when you get this sort of thing, it's verification of what those magazines have said - Oklahoma City is where the future is."
The story's images, dominated by downtown and Bricktown, also serve as a reminder to those who might forget the lessons of the past decade: the entire city benefits from a revitalized core. Time and again, it's not the assortment of hotels and restaurants along Memorial Road or the swanky new shopping center at SW 104 and Pennsylvania that are shown to readers of out-of-state publications trumpeting Oklahoma City's transformation.
Time and again, both in print and in Reese's video, the new Okies spoke about downtown as being clean and safe, how they can afford to live in the heart of a vibrant central core where they can walk to work and be surrounded by restaurants, clubs, museums and entertainment venues.
This image, of course, really didn't exist a decade ago. But after enduring a massive case of collective low self-esteem throughout the 1970s and 1980s, Oklahoma City residents gambled that by re-investing in the inner-city they could rediscover what once made their community great. Challenges remain, of course, but as evidenced by the Reese's reporting, the boats meandering down the Bricktown Canal are telling a story that may do more for this city's economic future than we can yet imagine.