OKLAHOMA CITY
Human-Powered, Future-Forward
Oklahoma City has worked tirelessly to position itself as the go-to for businesses at the leading edge, and for business leaders who have the insight to look beyond the coasts and the bigger, more familiar names. This is a city rich in potential known for innovation, and the resulting population growth proves it:
Total population, Oklahoma City MSA: 1,486,000+; up 19% since 2010
Total Oklahoma City labor force: 826,000+
Nearly 245,000 residents attending area colleges, universities and technical schools
The #2 best city in the U.S. for young professionals, as ranked by Forbes
Ranked by Wall Street Journal as the country’s #5 hottest job market
The nation’s #1 state in profit per employee among Fortune 500 companies
IT JUST COSTS LESS TO GROW IN OKLAHOMA CITY
The business climate in Oklahoma City is unique; flexible and accommodating enough for small businesses and startups while powerful and rich in resources for larger, more established companies. Business owners consistently discover unmatched affordability in every aspect of doing business – from square footage to taxes to staffing.
Oklahoma City can offer your business:
The nation’s 2nd lowest business tax cost
Industrial electrical power costs 25%+ lower than the national average
The nation’s 3rd lowest cost of doing business (as ranked by CNBC)
A 3.4% unemployment rate – nearly 100 basis points below the national average
“Lowest cost of doing business in the nation”
- CNBC
QUALITY OF LIFE IS A SLAM DUNK
Oklahoma City delivers on quality of life. Affordability is a key factor with the third-lowest cost of living in the U.S. and a spot among the 10 lowest housing costs in the nation. But it’s more than that. Just over 30 years ago, OKC’s residents voted for a tax to invest in a visionary capital investment program for new and upgraded sports, recreation, entertainment, cultural and convention facilities. Now in its 4th iteration, MAPS (Metropolitan Area Projects) continues to transform this community - including improvements to the Innovation District, where Convergence lives, and the construction of Innovation Hall.
This community has goals, and we’re crushing it. All you have to do is see it to believe it.
POWER YOUR FUTURE AT THE HUB OF COLLABORATION & INNOVATION
Aerospace, defense, energy and technology are industries with a strong foothold in Oklahoma City and the state. With strong business incentives and a skilled workforce, startups and established businesses have great opportunities to thrive here.
One of Oklahoma City’s hottest areas of growth is Life Sciences. The region’s bioscience, biotechnology and health sectors represent a nearly $7 billion industry – and Oklahoma City’s central location is squarely at the heart of its future. Growth in the biotech industry is being amplified by rapid expansion in parallel sectors. Since 2015, drug and pharmaceutical manufacturing jobs have risen by more than 50%, medical device and equipment manufacturing jobs have increased 25%, and bioscience-related distribution has added over 1,500 new jobs. Together, these trends are fueling a dynamic ecosystem ready for continued innovation and investment.
Oklahoma City ranked 19th most up-and-coming tech market in North America
- CBRE
City leaders are committed to solidifying Oklahoma City’s place as one of the nation’s leading hubs and investing the resources it takes to see it through.
BioTC is a newly launched biomanufacturing workforce training center, a “once-in-a-generation” program and the only one of its kind in the U.S., offering inclusive, non-degreed careers in the bioscience industry
Oklahoma City voters approved a $10 million initiative to develop Innovation Hall
Oklahoma City’s Innovation District is home to 42,000+ employees and counting
Nearly $316 million spent annually on research and development
OKC’s bioscience sector has grown 28% in the last 25 years and over 10% in the last 10 years and is well-positioned to soar as the industry grows nationally
Oklahoma’s Biotech Innovation Cluster was awarded a $35 million grant in 2021 by the U.S. Economic Development Administration
The emergence of the region’s bioscience sector has been phenomenal, and we are to be included with other emerging hubs across the country. It is exciting to witness all of the investments and resources being directed toward the biosciences, which bodes well for our city’s long-term future and growth in this far-reaching and, for many people, life-changing industry.”
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Christy Gillenwater,
OKC Chamber President & CEO
