TULSA eCONOMiC Overview
The Tulsa Metropolitan Statistical Area (MSA) comprises seven counties with an aggregate population estimated at 916,457 or 25.1 percent of the population in Oklahoma with gross product of all goods and services produced in the seven-county MSA at 29 percent of the Oklahoma economy. Tulsa is centrally located in the United States and its transportation system makes it remarkably connected to the rest of the world. Some of the nation’s largest companies in key industry sectors including aerospace, energy, health care, technology, manufacturing and transportation make their home in Tulsa because of its location, pro-business environment and insulation from many effects of the current national recession.
One of Tulsa’s major rental car companies recently announced its intentions to expand its local customer service center in Tulsa, thus making it the largest service center that the company currently operates. The newest addition to major employers in the Tulsa area is Google who recently opened their data center in the MidAmerica industrial Park with 106 employees and expectations to grow. with over 70 aerospace companies employing more than 14,000, Tulsa is considered a leader in the aerospace industry. The American Airlines Maintenance repair and Overhaul Division has called Tulsa home for over 70 years and is Tulsa’s largest employer. NOrDAM is another large employer whose aerospace firm has been headquartered in Tulsa since 1969. This leader in aircraft component manufacturing and repair services clients worldwide with facilities also in Singapore and the United kingdom. Oil and gas exploration continues to be a major industry in Oklahoma as well. ONeOk, a Fortune 500 company headquartered in Tulsa, is a leader in gathering, processing, storage and transportation of natural gas in the U.S. They are also one of the nation’s largest distributors of natural gas serving more than 2 million customers in the Midwest. with over 400 large and small companies in the area these companies add an additional 10,000 plus jobs to the economy.
in addition, health care has become one of Tulsa’s major growth sectors with more than nine major medical facilities providing state-of-the-art services for Northeast Oklahoma as well as portions of surrounding states. Tulsa is also home to two medical schools – The University of Oklahoma’s College
of Medicine and The Oklahoma State University College of Osteopathic Medicine.
Tulsa’s affluent history gives the city a luxurious culture in the arts. From the downtown skyline rich in Art Deco buildings to the historic Philbrook museum, Tulsa offers a wealth of beauty, culture and entertainment. Music lovers can enjoy a concert at the historical Cain’s ballroom or the newly built, award-winning, 565,000 square foot BOk Center, which has recently been noted as one of the top revenue producing arena’s in the world.
The metropolitan area provides residents and visitors with one-of-a-kind shopping experiences. its luxurious shopping centers and districts each offer unique experiences and wide varieties of retailers. For the sports enthusiast, Tulsa is home to multiple professional and semi-professional sporting franchises. Tulsa sports fans can enjoy a wide variety of sporting events no matter the time of year. Tulsa offers a big-city economic climate with the quality of life only a smaller community can provide offering the fifth-lowest cost for doing business in the nation. in addition, Tulsa’s workers benefit from the second shortest commute time in the nation with a cost of living almost 9 percent below the national average. There’s never been a better time to do business in Tulsa.
Tulsa’s Economy
Tulsa currently reports a 3.8 percent unemployment rate, one of the lowest in the country, with production and manufacturing employment leading the way in job growth. According to Moody’s economy.com salaries for these jobs remain above the national average and higher than the local per capita income. The recent announcement by Saint Francis Hospital to add a new trauma emergency center and tower with 150 new patient beds is another indicator of the continuing employment growth in the health care industry. Aviation segments are also showing signs of improvement with companies supporting aerospace work performing particularly well. in addition, Tulsa’s per capita income is 16 percent above the national average and is 15th in the nation for the highest rate of high school graduates. Tulsa has also been ranked 5th in the lowest cost for doing business in the nation and offers 2 to 3 times lower property taxes than the national average. Tulsa also offers several new job programs and tax incentives, including the unique indian Land Tax Credit which allows accelerated depreciation of approximately 40% of real property.
Tulsa began with entrepreneurs and small business owners and continues the trend today with small businesses providing more than 55,000 jobs and an estimated payroll of $1.4 billion annually. Many of these owners are part of Tulsa’s Young Professionals (TYPrO) which is one of the largest national young professionals organizations, growing to 6,300 members in just five years. Moody’s economy.com most recent report shows that the proprietors’ income has been steadily increasing over the years, which is another evidence of increasing entrepreneurship in the Tulsa area. The report also states that Oklahoma consumers are in better financial shape and regional banks did not suffer severe profit losses during the recession. Tulsa is expected to outperform the nation in the second half of 2011, driven by expansion in goods production. Housing is primed to recover more swiftly once prices bottom later this year. Tulsa’s competitive advantages in business costs and quality of life will attract firms and workers. Good demographics will drive the economy in the long run, ensuring it performs on par with the state and nation.
Transportation
Tulsa’s location offers easy highway access to all parts of the country whether driving north/south or east/west. interstate 44 is the city’s major east/west thoroughfare which provides quick access to Oklahoma City and points east to Joplin, Missouri. Highway 75 provides quick access through Tulsa whether going north to kansas City, Missouri or south to Dallas, Texas. in addition, the Creek Turnpike, used by many commuters, runs between the Turner, will rogers and Muskogee turnpikes for easy destination access. Highways 51 and 169 also provide commuters from surrounding communities with great highways for their drive. For those on more leisurely travel, the historical route 66 runs through the heart of the city.
Tulsa Transit operates the local bus service in Tulsa and several surrounding communities. Tulsa Transit also provides curb-to-curb transportation for disabled and elderly persons through its Lift Program. Tulsa recently purchased 15 new CNG buses to replace older buses, improving the quality of Tulsa’s air and reducing the cost of public transportation. The funding for these new buses also provided for a fueling station on the property and new jobs in Tulsa.
Tulsa’s international Airport is located on more than 4,000 acres with additional land available for expansion. There are 22 direct flights to several national destinations with service to more than 20 major national airports. The airport is just 10 minutes from most points in the city including the Port of Catoosa and downtown. More than five million people are served annually and have the convenience of 22 gates with three runways. Tulsa’s central location allows travelers only 2½ hours of flight time to 95 percent of the U.S. population. Tulsa international Airport also has five freight carriers for shipping by all industry businesses. The r.L. Jones Airport offers private and charter flights throughout the nation and is home to 173 commercial and private hangers with room for expansion. The airport is also used for aviation education. r.L. Jones is just 10 minutes from downtown and is used by Spartan School of Aeronautics and three other area flight schools. Tulsa’s Port of Catoosa is one of the largest, most inland river-ports in the United Sates. The Port offers year round, ice-free barge service with river flow levels controlled by the U.S. Army Corps of engineers. Public and private terminals serve grain, dry bulk, breakbulk and bulk liquids, handling over 2.2 million tons of cargo each year. The Tulsa Port of Catoosa is also a 2,000 acre industrial park and multi-modal shipping complex with over 63 industrial facilities employing approximately 4,000 people and plenty of room to grow additional companies.
Tulsa’s rail system includes two mainline carriers – Burlington Northern Santa Fe railway (BNSF piggyback hub) and Union Pacific and four short line carriers – Sand Springs, Tulsa-Sapulpa Union, St. Louis Southwestern and Sk&O. The city’s rail system has area switching services and piggyback facilities servicing all major industrial parks allowing businesses to provide rail shipping to most major cities in less than four days.
in addition to its air cargo and rail services, more than 50 local motor freight companies make their home in Tulsa. Located in the heart of the United States, Tulsa is truly an inter modal city offering a convenient location by air, rail, ground and water.
Education
Quality education is key for any thriving community. Tulsa is fortunate to have a wide variety of education available at all levels of learning. Two dozen school districts offer public education in the Tulsa metropolitan area. in Tulsa County alone, instructs more than 100,000 students. Award winning Booker T. washington High School has been ranked as one of the top 100 high schools in the nation, and the Tulsa school district is known for its two Spanish and French language immersion elementary schools and engineering academies. in addition to public education, private and parochial schools within the metro area offer complete Prek - 12 programs. whether obtaining an associate degree from Tulsa Community College or a bachelor’s, master’s or doctoral degree from satellite locations of OSU-Tulsa, Northeastern State University or Langston University, and well as Northeast Oklahoma’s rogers State University, opportunities abound for higher education. in addition, Tulsa is fortunate to have two prestigious medical schools within its city limits---The OSU Center for Health Sciences educating osteopathic physicians, research scientists and other health care professionals with emphasis on serving rural and under-served Oklahoma and
the OU-Tulsa Schusterman Center offering bachelor’s, master’s and doctoral degree programs in conjunction with the main campus in Norman and the OU Health Sciences Center in Oklahoma City as well as several research programs designed to benefit the greater Tulsa community.
Tulsa’s commitment to educating tomorrow’s workforce continues to be reflected in its quality
private institutions, including the University of Tulsa, Oral roberts University, the University of Phoenix, Brown Mackie College, and several others. with renowned
degree programs and highly competitive academic environments, these private universities draw top-notch students from across the country.
The regional business community is fortunate to have a job force also serviced by graduates of the nation’s largest welding school, Spartan
College of Aeronautics and iTT Technical institute. Other career schools provide programs in the business and health care fields. while feeding the pipeline in trade jobs, business productivity is alive and well in Tulsa and making way for additional and expanding businesses and providing a wide spectrum of jobs and professions.
The BOK Center hosts top-rated entertainment and is home to the city’s new WNBA team, the Tulsa Shock.
TULSA ACCOLADeS
List of the top 20 rankings Tulsa received in 2010:
• No. 1 affordable city in the U.S. (relocate America 2010)
• No. 1 metro for cost of living (Business Facilities 2010)
• No. 2 housing market (MSNBC 2010)
• No. 3 city for starter homes (CNBC 2010)
• No. 3 state for corporate tax environment (Area Development 2010)
• No. 4 city for jobs in winter 2011 (Forbes 2010)
• No. 4 metro for quality of life (Business Facilities 2010)
• No. 4 state for employment (Business Facilities 2010)
• No. 4 state for workforce development (Area Development 2010)
• No. 5 strongest economy for families (Parenting Magazine, Best Cit-ies 2010)
• No. 6 place to live in the U.S. (relocate America 2010)
• No. 8 U.S. city for young adults (Portfolio.com 2010)
• No. 10 venue in the U.S. and No. 23 worldwide, BOk Center (Poll-star Magazine 2011)
• No. 10 city having an awesome recovery (Business insider 2010)
• No. 10 state for doing business (Area Development 2010)
• No. 15 affordable city (Forbes 2011)
• Top 20 strongest performing metro economies (Brookings institution 2010)
• Tulsa’s Swan Lake Neighborhood named as Top 10 Great
Neighbor-hood (American Planning Association 2011)
SiGNiFiCANT TULSA eMPLOYerS
C O M PA N Y N O. O F E M P LOY E E S A a o n 1 , 1 7 8 A E P / P S O 1 , 2 0 0 A l o r i c a , I n c . 1 , 2 5 0 A m e r i c a n A i r l i n e s M a i n t e n a n c e B a s e 6 , 7 5 0 AT & T 2 , 6 0 0 B a k e r H u g h e s 1 , 7 3 8 B a n k o f O k l a h o m a 3 , 2 5 0 B l u e C r o s s / B l u e S h i e l d 1 , 2 5 0 B . A . P u b l i c S c h o o l s 2 , 5 0 0 C i t y o f Tu l s a 4 , 2 0 0 D i r e c T V 1 , 5 0 0 D o l l a r T h r i f t y A u t o m o t i v e 1 , 0 0 0 F a r m e r s I n s u r a n c e G r o u p 1 , 7 5 0 G i r l i n g H e a l t h C a r e I n c 1 , 5 0 0 H a r d R o c k H o t e l & C a s i n o 1 , 0 0 0 + H i l l c r e s t H e a l t h c a r e S y s t e m 4 , 2 5 0 H P E n t e r p r i s e S e r v i c e s 1 , 0 0 0 I B M 1 , 2 5 0 J e n k s P u b l i c S c h o o l s 1 , 7 5 0 M a z z i o ’ s 2 , 2 5 0 N o r d a m G r o u p 1 , 4 3 7 O N E O K * 4 , 0 7 7 O S U M e d i c a l C e n t e r 1 , 2 5 0 O w a s s o P u b l i c S c h o o l s 1 , 2 5 0 Q u i c k Tr i p * + 1 , 5 0 0 C O M PA N Y N O. O F E M P LOY E E S R e a s o r ’ s 2 , 5 0 0 R i v e r S p i r i t C a s i n o 1 , 0 0 0 + S a i n t F r a n c i s H e a l t h S y s t e m 5 , 5 0 0 S p i r i t A e r o S y s t e m s 1 , 7 5 0 S t . J o h n M e d i c a l C e n t e r 6 , 2 5 0 S t a t e F a r m 1 , 3 0 0 Tr i a d H o s p i t a l s , S o u t h C r e s t 1 , 1 0 0 Tu l s a C o m m u n i t y C o l l e g e 2 , 5 0 0 Tu l s a C o u n t y 2 , 0 0 0 Tu l s a P u b l i c S c h o o l s 6 , 2 5 0 U. S . Po s t a l S e r v i c e 9 , 0 0 0 U n i o n P u b l i c S c h o o l s 2 , 2 5 0 U n i v e r s i t y o f Tu l s a 1 , 2 0 0 Wa l M a r t / S a m’ s C l u b 1 , 0 0 0 + Wa r e h o u s e M a r k e t 1 , 0 0 0 Wa r r e n C l i n i c 1 , 0 0 0 W h i r l p o o l C o r p o r a t i o n 1 , 1 0 0 W i l l i a m s C o m p a n i e s * 1 , 2 5 0 * Companies currently on the Fortune 500 list + Forbes Largest Private CompaniesQuality of Life
Tulsa, Oklahoma is a growing city nestled in the heart of Oklahoma’s
Green Country region. The Tulsa area is big enough to offer excellent
restaurants, high-end stores and an array of nightlife activities, but it
is also small enough to make everyday life convenient for its citizens.
Tulsa also has the second shortest commute time in the nation,
allow-ing its citizens more time to do thallow-ings they want to be doallow-ing. Salary.
com ranks Tulsa as the fifth most affordable city in the country with a
cost of living at 8.6 percent below the national average.
Tulsa’s affluent history gives the city a luxurious culture in the arts.
From the downtown skyline rich in Art Deco buildings to the historic
Philbrook museum, one of America's Top 65 art museums, Tulsa
of-fers a wealth of beauty, culture and entertainment. The city ofof-fers
residents entertainment of all kinds for the young and the young at
heart. Tulsa is home to several attractions including the
award-win-ning Tulsa Ballet, which was noted by the New York Times as being
“one of the finest international companies in the United States.”
residents can regularly enjoy one of Tulsa’s many museums, such
as the Gilcrease Museum, which houses
the largest collection of art of the American
west. Tulsa is the proud home of the
Okla-homa Aquarium, the OklaOkla-homa Jazz Hall
of Fame, the Tulsa Air & Space Museum &
Planetarium, the Tulsa Zoo & Living Museum,
as well as several lush parks, including Tulsa
river Parks, a 26 mile recreational haven
stretching along the Arkansas river.
Tulsa also boasts a rich musical history being
home to two symphonies, a top ten nationally
ranked regional opera company, the Tulsa
Performing Arts Center and multiple concert venues. Music lovers
can enjoy a concert at the historical Cain’s Ballroom or the newly
built, award-winning,
565,000 square foot
BOk Center, which has
recently been noted as
one of the top revenue
producing arena’s in the
world. The addition of
the BOk center to Tulsa’s
bustling Central Business
District has been
instrumental in bringing
more businesses and tourism to Tulsa. Pollstar Magazine recently
named the BOk Center the No. 10 venue in the U.S. and No. 23
worldwide.
The metropolitan area provides residents and visitors with
one-of-a-kind shopping experiences. its luxurious shopping centers and
dis-tricts each offer a wide variety of retailers. From the premier shops at
woodland Hills Mall, a Simon Mall, to the fashionable upscale shops
of Utica Square, including Saks Fifth Avenue and Coach, shoppers
can find any experience desired.
For the sports enthusiast, Tulsa is home to multiple professional and
semi-professional sporting franchises. Tulsa sports fans can enjoy
watching the Tulsa Shock, a wNBA team, the Tulsa Driller’s, a
mi-nor-league baseball franchise, the Tulsa Talons, an arena football
team, and the Tulsa Oiler’s, a minor-league hockey team. with such
a wide variety of sporting events to choose from, no matter the time
of year, fans can catch an exciting game.
www.cbreok.com
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