2016 Norman Economic Summit: Greater Oklahoma City Chamber
-
Upload
norman-economic-development-coalition -
Category
Government & Nonprofit
-
view
127 -
download
2
Transcript of 2016 Norman Economic Summit: Greater Oklahoma City Chamber
METROS – POPULATION >2 MILLION
MSAs GROWING >OKC
• I-35 Corridor population over 16 million
• The OKC – Dallas Fort Worth population is near 8 million and accounts for about 30% of the land area for the entire corridor
• OKCDFW portion accounts for nearly $500 billion in production
I-35 CORRIDOR
10-COUNTY ECONOMIC REGION• Population of 1.51 million.• Labor force of 756,000.• The region’s population is
growing by about 2,000 per month, ½ of those in Oklahoma City.
• GMP of over $74 billion and accounts for over half of the Gross State Product for the state of Oklahoma.
• If OKC was a country, it would be the 114th largest economy
• The 10-County region functions as a single labor shed – 50 miles is 50 minutes.
• Average commute times of 21 minutes.
10-COUNTY ECONOMIC REGION
Key Sectors include.• Aerospace• Bioscience• Energy• Manufacturing• Professional Services/ ITOklahoma City
Westgate Site
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%4.4%
3.7%
-1.4%
1.7%1.1%
OKC MSA Population 1970-2016
Annual Growth OKC MSA Population
MSA
Pop
ulat
ion
Annu
al G
row
th, %
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
520.0
540.0
560.0
580.0
600.0
620.0
640.0
660.0
-2.8%
-0.2%
2.4%
1.6%2.0%
1.0%1.3%
Oklahoma City Nonfarm Employment
Annual Growth, Percent Nonfarm
Annu
al G
row
th
Empl
oym
ent,
Tho
usan
ds
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
0.0
5.0
10.0
15.0
20.0
25.0
19.0%
15.3%
-6.4%-7.9%
1.9%
Oklahoma City Mining Employment
Annual Growth, Percent Mining
Ann
ual G
row
th
Empl
oym
ent,
Tho
usan
ds
LABOR FORCE MOBILITY AND ACCESSIBILITY
• 2nd largest city in terms of population (118,000)
• Home to the largest university in the state (31,000 enrolled) - critical in supplying future workforce for companies in the region
• Cleveland County accounts for nearly 20% of the labor force for the entire region
• About half of Cleveland County residents commute to businesses located in Oklahoma County
• Over the next 15 years, Cleveland County alone is expected to add nearly 50,000 people
• Oklahoma, Canadian and Cleveland counties will account for 85% of the region’s population growth over the next 15 years
• Cleveland County has the 2nd lowest unemployment rate of any county in the region 3.6% (behind only Kingfisher County)
NORMAN’S IMPORTANCE TO THE REGION
Cleveland County has approximately 400 Office, Industrial, Land, and Retail commercial properties available for sale or lease
• Accessible through NEDC website
Greater Oklahoma City Partnership Region has over 3,600 available commercial listings
• Accessible through OKCEDIS.com, the Partnership sites and building database
• Custom Demographic & Business Reports available for local companies
NORMAN COMMERCIAL PROPERTY
RECENT ACCOLADES• #1 City Worth Moving to Launch a Business
(Entrepreneur)• # 10 for Construction Value, #4 for industrial
construction value (NAIOP)• #1 Best City for Small Tech Market Growth
(CBRE)• #2 Healthiest Housing Market (Wallet Hub)• #6 Best Large City for Manufacturing Jobs (New
Geography)
RECENT ACCOLADES• #3 among Best Cities for Millennials (USA
Today)• #3 for Downtown Employment Growth (City
Observatory)• #11 Most Diversified Economy (out of 350
MSAs) (Wallet Hub)• #4 Lowest level of Income Inequality Among
Major MSAs (Brookings)• #1 for Women Entrepreneurs (Merchant Cash USA)• #7 Best Metro for STEM Professionals (WalletHub)
THANK YOUKurt ForemanExecutive Vice President, Economic DevelopmentGreater OKC Chamber(405) [email protected]