READ THE 2022 GREATER OKLAHOMA CITY ECONOMIC OUTLOOK.

While 2021 was still an incredibly challenging year due to the ongoing pandemic, the Oklahoma City economy showed resiliency as evidence by several new-to-market relocations and expansion announcements.

In total, 110 Chamber-assisted companies announced plans for the creation of 4,740 jobs with an annual average salary of $45,962 last year. In addition, those same companies announced more than $304 million in capital investment and $217 million in payroll. 

A select group of those announcements are described below.

Mom’s Meals, an Iowa-based firm formally known as PurFoods, built a 200,000 square-foot kitchen/food preparation facility in the Rockwell Industrial Park just west of Will Rogers World Airport. The facility provides fully prepared, refrigerated meals delivered directly to homes nationwide through programs to support long-term care, chronic care, and post-discharge care. Serving the Medicaid, Medicare, and individual markets, the company’s offerings include food tailored to meet the needs of individuals of all ages with chronic conditions, including diabetes, kidney disease, cancer, and heart disease, with the goal of reducing hospital readmissions and keeping members healthier and independent at home. Per public reports, the $17 million facility will initially employ 125 people with plans to expand to 550.

Carvana, the fastest-growing auto retailer in the U.S., announced plans to open an Inspection and Reconditioning Center (IRC) in Oklahoma City, helping the company address increased demand and bringing a projected 350 new jobs to Oklahoma City. Carvana, one of the youngest companies to make the Fortune 500, allows customers to shop more than 45,000 vehicles on Carvana.com, finance, purchase, then select as-soonas-next-day delivery or car vending machine pick up. Carvana vehicles are inspected, reconditioned and photographed in 360-degrees at its inspection centers, like the one planned in Oklahoma City, so customers get a detailed, high-definition virtual tour of every vehicle. The planned facility is on 100 acres near Will Rogers World Airport. Carvana plans to invest more than $40 million to build and equip the new 190,000 square-foot facility.

CARVANA PLANS TO BUILD INSPECTION AND RECONDITIONING CENTER IN OKLAHOMA CITY.

Top-rated wireless carrier Consumer Cellular announced it will bring 300 full-time and part-time jobs to Oklahoma City. The average full-time employee will make approximately $54,000 per year. The move to Oklahoma City marks the first time in the company’s 25-year history it has expanded outside of its headquarters in Arizona or Oregon offices. Consumer Cellular has been ranked number one by J.D. Power 11 times in a row for best customer service. The company is 100% based in the United States, where it serves over 4 million customers. The Oklahoma City office will be located at the former Baker Hughes building.

Signify Health, Inc. is a leading healthcare platform that leverages advanced analytics, technology and nationwide healthcare networks to create and power value-based payment programs. The company announced plans to open a new service center in Oklahoma City in February 2022 ECONOMIC FORECAST 7 2022. Oklahoma City joins Dallas, New York City and Rapid City, S.D. as a regional hub for Signify Health employees who work on-site and remotely. The company expects to create more than 200 new jobs in Greater Oklahoma City at its new 25,000 square-foot office space on Memorial Road.

RECENT SIGNIFY HEALTH AND CONSUMER CELLULAR ANNOUNCEMENTS POINT TO ATTRACTIVENESS OF OKC AND OUR WORKFORCE.

Mint Turbines announced plans for a $5 million plant upgrade and 30 new jobs in Stroud. The company will refurbish a hangar and convert it into a maintenance facility. The company will also add a state-of-the-art engine test cell. Mint Turbines is an Oklahoma company that has helped maintain aircraft engines from across the country for 40 years.

Corken, Inc. (along with parent company IDEX) will expand its plant and add up to 180 new jobs by consolidating with Liquid Controls, LLC, and relocating those operations from Chicago. The two companies – both units of parent IDEX Corp. – manufacture pumps, compressors and precision measurement equipment for downstream oil and gas transfer. They will operate at the Oklahoma City headquarters under the combined name Advance Flow Solutions.

Aerospace & Marine International, an international company with 30 years of commercial ship weather routing and offshore meteorological and oceanographic services, announced the move of its corporate headquarters from San Jose, Calif. to Norman. Aerospace & Marine delivers 24-hour global weather forecasting services to the maritime industry. Their meteorologists use global data to lower clients’ costs and increase their operational efficiency, specifically in route optimization. While the move will result in minimal jobs, it does allow existing operations to stay in place and allow for future growth in Norman.

United Dynamics opened a new engineering center in downtown Oklahoma City upon securing a contract from the U.S. Air Force Research Laboratory. It also announced a strategic alliance with the Osage Nation to create an 8(a) entity to bolster its pursuit of defense contracts. Both expect to grow and generate new jobs. United Dynamics is a defense engineering, design, development, manufacturing and test firm located near Tinker Air Force Base. It has experience in providing components for Department of Defense weapons platforms and transport aircraft platforms.

UNITED DYNAMICS TO EXPAND TO OKC, FORM PARTNERSHIP WITH OSAGE NATION.

RETAIL SUCCESSES

For the seven-county Oklahoma City metropolitan area, 2021 calendar year total taxable retail sales increased by 12.7% from 2020 totals. That is the largest year-over-year increase in at least 30 years. At approximately $25.5 billion, the Oklahoma City metro accounts for more than 41% of the taxable retail sales for the entire state of Oklahoma and 36% of the state’s population. This continues to make the Oklahoma City metro a driving force for retail trade in the state.

For FY 2021 (July 2020 to June 2021 remittance), sales tax collections for the City of Oklahoma City finished strong, up 2.4% percent over the prior year. Use tax collections also finished 14% over the prior year, driven by online retail sales. Sales tax collections by surrounding cities in the metro also increased overall in FY 2021. Cities seeing increases include Norman, Edmond, Moore, Midwest City and Yukon. Contributing factors include increased pent-up demand from consumers, an increase in population and workforce, low unemployment and the added federal stimulus money helping overall economic conditions.

Per the Price Edwards 2021 OKC Year End Retail Market Summary, retail vacancy in the Oklahoma City market increased to 10.1% at year end, up slightly from 9.7% a year ago but improved from 11.6% at mid-year 2021.

A few select retailers that announced or opened in the Oklahoma City metro in 2021 include Capitol Co-Op,  Bob’s Steakhouse, Bandee’s BBQ, MetroMerch, The Old Spaghetti Factory, The Truck Yard, City & State, Summer Moon Coffee, Homeland, Black Rifle Coffee Company, Crumbl Cookies, Sam’s Southern Eatery, Costco, and Mathis Brothers Furniture.