WORKFORCE ADVANTAGES
With 770,000 workers and more than 135,000 attending area colleges and universities, the region is producing a steady pipeline of talent. The Oklahoma City MSA currently has a population of more than 1.4 million and is quickly growing. The average annual population growth rate from 2005 to 2019 of about 1.5% was double that of the nation.
One of the major industries in Oklahoma City is energy, with the city being home to several major oil and gas companies. The city is also a hub for the aerospace and defense industry, with Tinker Air Force Base and several major aerospace and defense companies located in the area. Additionally, healthcare is a growing industry in Oklahoma City, with several major hospitals and healthcare facilities located in the city.
OKC: Energy's New HQ
Well-known for being a global oil capital (as well as for having a working oil well on the grounds of the state capitol), Oklahoma City's energy industry has developed significantly from its oil-intense beginnings. The Bakken-led shift to oil has been dramatic, part of a robust drive toward U.S. energy independence. Hundreds of energy companies here are growing rapidly, responding to the extraordinary opportunity the industry offers today. Importantly, all components are represented – large and small independents, midstream companies, service businesses, startups and spinoffs.
KEY STATS ABOUT AEROSPACE IN OKC:
Home to 290+ aerospace firms in the region.
Home to 43,250 aerospace workers in Greater Oklahoma City.
Aerospace firms produce $11.6 billion in goods and services locally.
Aerospace companies hiring engineers in a variety of fields can receive a tax credit equal to 5-10 percent of the compensation paid to the engineer. Learn more about the Aerospace Industry Engineer Workforce Tax Credit.
Request access to the Greater Oklahoma City regional aerospace directory.
KEY STATS ABOUT BIOTECH IN OKC:
Oklahoma City’s bioscience companies boast annual revenues of more than $6.7 billion.
Support 51,000 workers with total compensation of $2.2 billion.
Entities in the region partnered to help win a Build Back Better grant for the biotech hub. The $35-million grant will help launch six core biotech projects in Oklahoma City.
The Oklahoma City Innovation District is a thriving, 1.3 square mile ecosystem of collaboration, innovation and economic growth located in historic, Northeast Oklahoma City, surrounded by internationally acclaimed organizations spanning Oklahoma’s diverse sectors – healthcare, bioscience, aerospace & unmanned systems, specialized manufacturing, academia, technology and energy.
In 2019, the citizens of Oklahoma City approved a $71 million investment in the burgeoning Innovation District. This investment includes funds to encourage further development for minority-owned small businesses, better connectivity in and around the district and the construction of an “Innovation Hall” to serve as a central place where activities to grow our city’s innovation economy can be facilitated.
LOGISTICS
There’s a reason the Greater Oklahoma City region is such a great place for Logistics: location. Greater Oklahoma City is located in the geographic center of North America, the United States and the growing south-central region. Oklahoma City sits at the junction of three of the nation’s major interstates (I-35, I-40 and I-44) and is equidistant from the east and west coasts and major trade partners of Canada and Mexico. All major trade hubs and more than 411 million residents are within 1,800 miles of Oklahoma City. From Oklahoma City, companies have access to more than 4 million people within a 2.5-hour drive and the majority of the U.S. can be reached within a two-day trucking distance.
The proof of Oklahoma City's strength as a logistics hub is in the companies that are thriving and growing in OKC. Oklahoma City is the headquarters of Hobby Lobby, one of the largest retailers in the U.S. The arts and craft giant processes orders for all of its 900+ national stores from its 10-million-square-foot distribution center in Oklahoma City.
In 2018, Amazon announced its first fulfillment center in Oklahoma would be constructed in OKC. The facility would be more than 600,000 square feet and employ more than 1,500. Today, Amazon is already one of the largest employers in the region with a workforce of around 8,000. They have also expanded to have more than 3.5-million-square-feet of distribution space.
UPS also has a massive distribution center in Oklahoma City that employs 1,800.
Greater Oklahoma City is also home to Will Rogers World Airport - Foreign Trade Zone (FTZ) 106. Companies located here have access to two Class 1 railways, close proximity to two inland ports and the port of Houston is within 500 miles.
UNEMPLOYMENT
The unemployment rate in Oklahoma City is currently lower than the national average, which is a positive sign for job seekers. The median salary for jobs in Oklahoma City is also on par with the national average, making it an affordable place to live and work.
Oklahoma City is also home to several major job fairs and events throughout the year, such as the Oklahoma Career Fair promoted by Oklahoma University and the Oklahoma City Job Fair, which provide job seekers with the opportunity to meet with employers and learn about job openings.
In addition to the abundance of job opportunities, Oklahoma City also offers a low cost of living and a high quality of life for its residents. The city has a variety of housing options, good schools, and recreational activities to enjoy.
Overall, Oklahoma City offers a diverse job market with a wide range of opportunities for job seekers. With a growing economy and a low unemployment rate, Oklahoma City is an excellent place to start or advance your career.
Please note that the job market and the economy are always changing, so the information in this blog post may be outdated in the future.
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