Economic development news from Oklahoma City covering the past several months includes -

From the Oklahoma City Chamber Newsletter Feb. 2008 - In spite of a slowing national economy, Oklahoma City’s economic climate remains strong, as the metro area continues to outperform the state and the nation. Total employment growth is projected at 1.5 percent in 2008, down 0.2 percent from growth in 2007.  The ongoing economic expansion in Oklahoma City remains broad-based and is generating new jobs in most major industry sectors. The expansion is expected to continue as metro job growth slows only slightly in 2008 to 1.5 percent before rebounding to an expected 2 percent gain in 2009.  strong oil and gas sector in the state is significantly contributing to the overall performance of the Oklahoma City area economy. The energy-related workforce in Oklahoma City has roughly doubled since 2002 and currently employs 15,000 workers. An additional 700 new energy jobs are forecast for 2008.

Oklahoma City ranked 19th in Forbes.com’s (January 2008) Best Cities for Jobs list. Forbes used five equally weighted data points to rank cities: the state’s unemployment rate, job growth, income growth, median household income and cost of living.

Oklahoma City ranked 10th in Forbes.com’s (October 2007) Best of the Cities for Jobs list, up from 67th in 2005. Forbes used five equally weighted data points to rank cities: median household income, unemployment, income growth, cost of living and job growth.

Several major metropolitan areas appear to be enjoying a flourishing retail development market and show little effect by the residential downtown. Co-Star Advisor (August 2007) spotlighted the country’s best performing markets in terms of retail vacancy, rental rates, development activity and pricing. Oklahoma City ranked 6th best. The common thread between the markets includes strong population growth, low unemployment and high job growth.

According to the Commerce Department Bureau of Economic Affairs (WSJ, June 2007), Oklahoma has the lowest tax burden of any state, including the District of Columbia. Oklahoma’s tax burden was 27.8% versus Connecticut at the top with 38.3%.

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