Oklahoma City, Tulsa among Forbes' top places to do business

Journal Record, The (Oklahoma City), May 8, 2006 by Jerry Shottenkirk

Sparked by top grades in income growth, Oklahoma City and Tulsa were highly regarded in Forbes magazine's list of Best Places for Business, which was released Friday.

Overall, Oklahoma City ranked No. 13 and Tulsa was listed at No. 43 in the magazine feature.

Both cities performed particularly well in the income growth and cost of doing business categories.

Oklahoma City ranked No. 1 in income growth and Tulsa was right behind at No. 2.

Oklahoma City was No. 4 and Tulsa No. 5 in the cost of doing business category, which is an index based on the costs of labor, energy, taxes and office space.

In job growth, Oklahoma City checked in at No. 98 and Tulsa was ranked No. 136. Job growth is based on five-year annualized figures.

Oklahoma City was No. 102 and Tulsa No. 127 in educational attainment. The category gauges the share of population over age 25 with a bachelor's degree or higher.

Albuquerque, N.M., was No. 1 in the Top 10 list of metro areas for doing business. Raleigh, N.C., was second, followed by Houston; Boise, Idaho; Knoxville, Tenn.; Phoenix; Nashville, Tenn.; Durham, N.C.; Fayetteville, Ark.; and Indianapolis.

The No. 1 ranking in income growth is because we've just had a very strong year, said Roy Williams, president and CEO of the Greater Oklahoma City Chamber. The kinds of jobs are above our historical average.

Williams said a high ranking can only help communities such as Oklahoma City and Tulsa.

When we are selling Oklahoma City to companies that are either looking to expand or relocate, we always like to give a third party's opinion, whether it be another company or Forbes, Williams said. They know a chamber of commerce is paid to say good things about a city, but Forbes isn't. It's very helpful to have independent opinions.

Amy Polonchek, interim executive director of the Oklahoma Department of Commerce, said, I couldn't agree more with Forbes. Oklahoma continues to position itself on a nationally competitive level, especially as we continue to combine landmark legislation that works to decrease business costs in key areas, with our high quality of life and productive work force.

Fred Imel of Yukon, who works with the Oklahoma Society of CPAs, said positive marks can be a plus for further economic development.

There have been comparisons about the costs of projects here versus New York, Dallas or Los Angeles, and the economic statistics overall say it can be as much as 50 percent cheaper to do business here, Imel said. Lists like this are just more affirmation for people who may want to do their business in Oklahoma City or Tulsa.

Polonchek said the business climate continues to improve.

We're currently talking to a record number of businesses seriously considering Oklahoma for expansion or new location, Polonchek said. The Forbes list clearly illustrates our state's continued commitment to progressive economic development.