Why Invest in Oklahoma City?

Spotlight News and Economic Overview

Forbes.com Names Oklahoma City #1 in
America's Recession-Proof Cities

America's Recession-Proof Cities, April 29, 2008
"Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year. But some cities are doing just fine. Take Oklahoma City, Okla. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis..."
Read full article

OKC, Tulsa apartment rental rates rise, vacancies down

The Journal Record, May 6, 2008
"Apartment rental rates rose in both metro Oklahoma City and Tulsa in the first quarter, even as vacancy rates inched lower... "
Read full article

Other Oklahoma City (OKC) Recession-Proof Statistics:

• Oklahoma City is 19th out of the 100 largest metropolitan areas on the Forbes 2008 Best Cities for Jobs list.
• According to the Kauffman Index of Entrepreneurial Activity: Oklahoma was 4th in 2007 for business startups,
• 4th out of 40 real estate markets for corporate expansion or relocation, and
• 6th among the country's best performing markets in terms of retail vacancy, rental rates and development.

Forbes, April 29, 2008
"What do a low unemployment rate, steady job and income growth, a rising median household income and a low cost of living have in common? They are all factors that placed Oklahoma City at #19 on Forbes’ 2008 Best Cities for Jobs list and on April 29, 2008, America's #1 Most Recession-Proof City in the Nation!

"Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year. But some cities are doing just fine. Take Oklahoma City, Okla. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis..."Read full article

NewsOK.com, May 30, 2008
All 77 counties in Oklahoma followed the state's lead and reported lower unemployment rates for April, the Oklahoma Employment Security Commission said...Oklahoma's economy is stronger than many other states', and it's understandable the rates would be lower, the Oklahoma Employment Security Commission chief economist Lynn Gray said. Read full article

NewsOK.com, May 17, 2008
The state's jobless rate dipped again in April to 2.9 percent, the Oklahoma Employment Security Commission reported Friday. Read full article

Reed Construction, May 30, 2008
Ranking States by Recent Economic Performance - May 2008 places Oklahoma #2 out of 25 States!
New England has been replaced by the south central states, specifically Texas and Oklahoma, as the fastest growing region in the US economy. Economic growth is also above average in the Plains state and on the Pacific coast in California and Washington. This based on the April indexes of state economic activity from the Philadelphia Federal Reserve Bank.

Regional growth differences are largely due to differences in the position of each state in the business cycle. The state by state cyclical differences depend on the mix of industries in each state. Currently the rapid growth industries are farming field crops, energy supplies, high tech and machinery export manufacturing, biotechnology and healthcare, mutual funds and intellectual capital industries, such as software and consulting. The slow growth industries are housing and construction supplies, low tech manufacturing, consumer services, real estate and related financial activities and consumer leisure, vacation and retirement related industries.Read full article

OKC Chamber of Commerce, May 30, 2008
As economic slowdowns make an impact across the nation, Oklahoma City is fairing well and continues to out-perform the nation in job growth. That trend is expected to continue into 2009, according to the Greater Oklahoma City Chamber 2008 Economic Forecast, available at www.okcchamber.com.

Read the Greater Oklahoma City Economic Trends, Second Quarter 2, 2008 Report

The U.S. Bureau of Labor Statistics reports, "Oklahoma's unemployment rate fell to 3.1% in February from 3.7% one month ago and 4.3% last year. " Read More

Oklahoma City: A Formula for Investment Success

- Unemployment Rates: Down to 3.5% (Vs. National: 4.8%)
+ Avg. Sales Price of Existing Home: UP 7% in OKC (Up 4.24% in State)
- Number of Foreclosures: Down 13% (Vs. National: Up 80%)
- Cost of Living: Lowest in the Nation
+ All Major Oklahoma Products and Industries: *Up and booming
_________________________________________________________________

= Recession Proof Investing

*Corn, wheat, cattle, oil, and natural gas, all Oklahoma major products, are up and doing very well.

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Oklahoma City: Economic Overview

Unemployment and Job Growth
Growing at a rate of 3.3 percent, the Oklahoma City region’s employment growth was more than double the national rate of 1.2 percent in 2007.

Major Industries and Commercial Activity
As a popular regional base for many Fortune 500 giants such as AT&T, Oklahoma City seems to have come a long way from its days as a small frontier town. However, for those who live and work here, the spirit and determination of the early pioneers who first settled here is evident in the city's resilience.

Although in its early days oil dominated the economy, Oklahoma City today hosts a wide range of businesses and employers. Major players in the city's economic well-being are:

• Agriculture
• Energy
• Aviation
• Government
• Health Care
• Manufacturing
• Industry

Oklahoma City is the seat of government for the state of Oklahoma as well as Oklahoma County. There are also many regional federal agency offices located in the City.

• The government sector accounts for about 20 percent of the Oklahoma City metropolitan area non-agricultural employment.
  
  
• The health care industry is a major economic driver in the city.
  
  
• Mike Monroney Aeronautical Center, which is the largest trainer of Air Traffic Controllers in the world, and Tinker Air Force Base are major drivers as well. As the largest industrial operation in Oklahoma, Tinker serves the U.S. Air Force as a repair depot and provides logistic services for the U.S. Air Force throughout the world. Tinker employs 26,000 military and civilian personnel with a combined annual payroll of more than $775 million.
  
  
• There is also a growing high technology sector in the Oklahoma City economy, with more than 400 companies employing 30,000 in the fields of high technology, information technology, and software development.

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Quality of Life
Many large oil and energy-related companies have headquarters or major branches in the city. Other present and projected future growth industries include fabricated metal, computers, clothing, oil-field equipment, crude oil, back office, distribution and food processing.

Oklahoma City's pride in its heritage is demonstrated by its revitalized downtown, which features many venues that host sports, theatrical and music events, including the Ford Center, Civic Center Music Hall and AT&T Bricktown Park.

Visitors will find that Oklahoma City's historic sites, exhibits, attractions and frontier spirit appeal to both cowboys and city slickers.

Incentive Programs—New and Existing Companies

Many zones and neighborhoods of Oklahoma City have been designated as Federal Empowerment Zones that offer incentives to businesses looking to start-up or relocate. Incentives include tax credits of up to $3,000 for each employee newly hired or already on the payroll who lives and works in the zone; tax-exempt facility bonds to finance property, equipment and site development; and increased expense deductions of up to $35,000 for depreciable assets acquired during the first year.

State Programs
The innovative Oklahoma Quality Jobs Program is a method to allow businesses that are creating large numbers of new quality jobs to receive a special incentive to locate or expand in Oklahoma. It is an easy-access program that provides direct payment incentives (based on new wages paid) to companies for up to ten years. The Investment/New Jobs Tax Credit Package provides growing manufacturers a significant tax credit based on either an investment in depreciable property or on the addition of full-time-equivalent employees engaged in manufacturing, processing, or aircraft maintenance.

Other key Oklahoma incentives include a five-year ad valorem tax exemption, sales tax exemptions, freeport exemption, foreign trade zones, financing programs, export assistance, government contracting assistance, and limited industrial access road assistance. With reference to industrial financing programs, Oklahoma has simplified the laws governing businesses incorporated in the state. Oklahoma's new company legislation, based on the Delaware model, simplifies the procedures for incorporating businesses in the state and gives boards of directors more authority and flexibility in determining capital structures of companies.

Job Training Programs
The city's Office of Workforce Development administers the federal Workforce Investment Act program. Services include skills assessment, basic skills and GED instruction, career planning and counseling, tuition assistance, and job search assistance.

Workforce Oklahoma, also created under the federal Workforce Investment Act, is a new training and education development system that partners business leaders, educators, and employment professionals to achieve job growth, employee productivity, and employer satisfaction. This system includes a network of 52 statewide offices called Workforce Oklahoma Centers, where employment, education, and training providers integrate a wide range of services that benefit both employers and employees. Customized industrial training programs, at no cost to the employer, are provided by the Oklahoma State Department of Vocational and Technical Education.

Known nationwide for its excellence, Oklahoma's Career and Technology Education system provides customized employer training and gives Oklahomans of all ages the opportunity to learn advanced technical skills they can put to use in the workforce. The centerpiece of the effort is the Training for Industry Program or TIP, which is offered free to new and expanding companies. Career Tech works closely with the business to develop a program that meets the company's needs and prepares their new workforce for success. To date, TIP has served over 1,700 companies including Boeing, MCI WorldCom, American Airlines, Goodyear, General Motors, Whirlpool, America Online, Southwest Airlines, Lucent Technologies, Mutual of Omaha, Bama Foods, Best Buy, Armstrong and Xerox.

Information obtained from: city-data.com

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Oklahoma City is The "Horse Show Capital of the World" Bringing in $126.5 Million in Revenue each Year

"Home to more equine events than any other city in the world, Oklahoma City is the venue of choice for more than a dozen top national and world championship horse shows, attracting riders from across the nation - and world - each year. Not only do Oklahoma City horse shows provide family fun entertainment, they make a substantial contribution to the city's economy. Total estimated economic impact of all Oklahoma City horse shows exceeds $126.5 million each year..."
Read more

Oklahoma City is One of the Nation's Largest Cattle Producers

Oklahoma City is home to the world's largest stocker and feeder cattle market, stretching back to the region's days as a key cattle center and gateway to westward expansion.

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Oklahoma Medical Research Foundation Receives $15 Million in Economic Development Funds to Support $125 Million Facility Expansion

The Oklahoma Medical Research Foundation will embark on a $125 million expansion project with the help of a $15 million allocation from the Oklahoma Opportunity Fund, a state economic development account. OMRF, an internationally recognized independent research institute, is building a new research tower on its Oklahoma City campus, an initiative that is projected to create 300 new jobs with an average salary of approximately $58,000. Read more

Without question, 2007 will go down as a landmark year for the city’s industrial market

Oklahoma's Real Estate Market is Up -- Bucking USA Trends

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Statistics

Forbes.com Home Page for the World's Business Leaders

Oklahoma City, Tulsa among Forbes' top places to do business
Oklahoma City Listed in the 25 Best American Cities to Get a Job
Oklahoma City Named in List of Best Places For Business And Careers

Related Article at KNBC.com:

"Another rapid mover, Oklahoma City ranked 67th on last years list. It ranks sixth in income growth, 15th in cost of living and 25th in unemployment. Oklahoma City has been a traditional base for energy companies like Chesapeake Energy and Devon Energy, but its economic growth has partly been fueled by diversification into fields like information technology and health services."
Click here to read the full article

Expansion Management Magazine

Oklahoma City and Tulsa included in 5-star Quality of Life Metro List Read Complete Article

Oklahoma City Ranked #4 in Top 20 Real Estate Markets for 2007 Read Complete Article

Oklahoma City and Tulsa Name In the Top 50 Hottest Cities for 2007 Read Complete Article

CNN Money Online Rates OKC Housing Market

Articles

The Journal Record reports on Oklahoma Real Estate

Elliott recognized for renovation work

Bryant Square (Edmond) Sold

Edmond Retail gets lift from residential boom

Court Strikes Eminent Domain Petition

Urban Update: OKC Developers Outline Plans for Downtown Housing Projects

OKC to take role in national building boom: 236,000 New homes; 23M ft. Industrial space

Apartments dominate 2004 top deals Urban Renewal hears proposals to revive The Hill

Deep Deuce deal may raise bar on apartment prices

Retail dominates new construction

No end in sight: Decades of growth foreseen for Memorial

Expansion Management Magazine

Oklahoma Medical Research Foundation Receives $15 Million in Economic Development Funds to Support $125 Million Facility Expansion [9/28/2007]

Oklahoma Announces it's First 13 "Site Ready Certified" Business Sites

Companies Are Transferring Major Operations to Oklahoma City

All Expansion Management Magazine Articles - Oklahoma State Spotlights

OKC Business Reports on Oklahoma City Real Estate

Study: Oklahoma City needs grocery stores

Colcord : A Return of Vintage Hospitality

Edmond commercial construction up 13 percent from 2005

Oklahoma's Unemployment rate lowest in the South

Worlds Largest 20 screen Theatre to be built in Moore ( South OKC )

Oklahoma Government Sites

State of Oklahoma - www.ok.gov

Oklahoma Department of Commerce Quick Links

Top Oklahoma Stories
New and Existing Businesses
Communities
Workforce
Data and Research

Oklahoma Department of Tourism

2007 Oklahoma Travel Guide - Online Interactive Guide
What to do in Oklahoma
Cities and Regions

General Information & Tools

Multi-Housing News

Retail Traffic Reports on Retail Centers Nationwide

The Mall is Dead, Long Live the Mall

Will It Play in Oklahoma City?

An Investor's Guide to the U.S.

Commercial Property News

Commercial Investment Information

The Brookings Institute

Toward a New Metropolis: The Opportunity To Rebuild America

Turning Around Downtown: Twelve Steps to Revitalization

Oklahoma City Chamber of Commerce

Oklahoma City Chamber of Commerce Quick Links

Metropolitan Area Projects

Downtown Housing Study - 7,500 units needed

State Issue Overview

2006 Legislative Agenda

Recent Business Expansions

Major Employers OKC

OKC Attractions