Regional Review: Southwest Region a Top-Ranked Global Destination for Business

Beth Mattson-Teig (Location USA / April 2013)

The Southwest region does a stellar job of producing something that every state in the country wants desperately — job growth. Arizona, New Mexico, Oklahoma, and Texas have generated nearly 357,000 new jobs over the past 12 months. Texas is responsible for producing the lion's share of those new jobs. More

Consultants Rank Oklahoma Tenth Overall, Noting its Incentive and Work Force Development Programs

Area Development Magazine Special Presentation (Fall 2012)

Oklahoma ranked tenth overall among the Top States for Doing Business. The state also ranked fifth for both its incentives programs and as a leader in work force development programs, and also tied for fifth as one of the states leading in the economic recovery. Those standings are a testament to the fact that Oklahoma has continued to strive to improve its economic development platform and remove impediments that have been standing in the way of business expansion. More

2012 Top States for Doing Business Survey Results

Area Development Magazine Special Presentation (Fall 2012)

For the third consecutive year, Area Development magazine's editors have conducted a survey of a select group of highly respected location consultants who work with a nationwide client base. We asked the consultants to name their top-5 state choices in 14 site selection categories. More

The Leading Metros for "Prime Workforce" Growth

Area Development Online Research Desk (August 2012)

We ranked 365 MSAs across 23 economic and workforce growth indicators in our Leading Locations for 2012 report. Here, we rank the cities based only on the selected indicators from the overall report that measure workforce vitality. More

The Leading Southwestern Region Metros for Economic and Workforce Growth

Steve Stackhouse (August 2012)

Area Development ranks the Top MSAs in the Southwestern states for economic and workforce growth based on the overall results from our Leading Locations for 2012 study. More

Regional Review: Southwest States Deliver Job Growth

Beth Mattson-Teig (August 2012)

Arizona, New Mexico, Oklahoma, and Texas have generated nearly 280,000 new jobs over the past 12 months. Texas is responsible for producing the lion's share of those new jobs. More

Emerging from the Recession, Tulsa Sets Lofty Economic Goals

Cynthia Kincaid (April 2012)

Tulsa has seen an economic resurgence over the last two years and appears to be coming out of the recession sooner than other cities its size while grappling with many of the same financial and social problems. More

Oklahoma Basic Business Taxes 2012

Area Development Online Research Desk (2012)

Oklahoma's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include a corporate income tax, sales tax exemptions, and property tax abatement. More

OKLAHOMA at a glance

POPULATION: 3,791,508 (2011 Census)

LABOR FORCE: 1,798,940 (Aug. 2012)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES:Manufacturing, energy

EXPANDING INDUSTRIES: Aerospace and defense (incl. unmanned aerial systems); energy (incl. compressed natural gas vehicles; distribution); agriculture and biosciences: (incl. manufacturing, commodity production and distribution, research and development); information and financial services (incl. data centers, banking, cybersecurity); distribution: (air, rail, water, and pipeline transportation; warehousing and storage)

COLLEGE GRADUATES: (Age 25 and over) 22.6%

BASIC BUSINESS TAXES:
Corporate Income Tax: 6 percent of federal taxable income earned in Oklahoma

Business Activity Tax: $25 plus 1 percent of net revenue from business activity allocated or apportioned to Oklahoma

Sales and Use Tax: 4.5 percent state rate; most cities levy an additional tax of 1 to 4.25 percent; counties may levy an additional tax up to 2 percent; the average city sales tax rate is 2.1 percent, and the average county sales tax rate is 1.2 percent.

Property Tax: Levied on both real and tangible personal property at the county level; for all communities in Oklahoma, the effective property tax rate averages about 1 percent for real and personal property, exercised as a percentage of fair cash value.

BUSINESS INCENTIVES:
Oklahoma Quality Jobs Program ("cash-back" incentive for qualifying manufacturing and service employers with rebates ranging from 5 to 6 percent)

21st Century Quality Jobs Program (up to 10 percent cash back)

Quality Jobs + Investment Tax Credit incentive

Oklahoma Small Employers Quality Jobs Program ("cashback" incentive program)

Former Indian Land Tax Credit (pending renewal)

New Markets Tax Credit (federal income tax credits)

Oklahoma Finance Authorities:
• Pooled Business Finance Program

• Tax-Exempt Manufacturing Industrial Development Bond Program

Bid Assistance Centers (assistance in securing federal government contracts)

Oklahoma Center for the Advancement of Science and Technology (tech-transfer programs)

Oklahoma Capital Investment Board (venture-capital portfolio program)

Capital Access Program

Tribal financing