Target Industries

An Overview Of Oklahoma’s Target Industries

Oklahoma is a state of industrial diversity. Its climate has made it ideal for agriculture, its mineral wealth in oil and gas is legendary, and now the state is becoming a leader in such growth industries of the future as aerospace, weather research and bio- and nanotechnology.

Oklahoma’s manufacturing base is solid, built on the unbeatable work ethic of its people and the pro-business policies of its government. Thanks to Oklahoma’s central U.S. location in the heart of the NAFTA (North American Free Trade Agreement) corridor, the state is ideally positioned to serve as the logistics base of choice for many firms.

More companies are choosing Oklahoma everyday. Why? Because it makes good business sense. With substantially lower costs of doing business than nearly every other geographic area of the country, generous business incentives, a highly rated workforce and a Right to Work policy, Oklahoma offers what industry needs.

The following industries play a major role in Oklahoma’s economy.  Click on any of these sections to learn more.

Aerospace — Aerospace is among the largest industries in Oklahoma. More than 300 aerospace-related companies generate an industrial output of more than $11 billion each year in Oklahoma, and some of the U.S.’s most important and largest aerospace clusters are located in the state. Tulsa, in particular, with its quality workforce and easy access to railways and ports, is ranked 8th in the nation for the size of its aerospace engines manufacturing cluster and 20th for its defense related cluster, according to a Harvard University study.

Wind — Oklahoma has the capacity to deliver and receive wind manufacturing components to nearly 20 states by waterway. With three in-state ports, Oklahoma has ideal access to North America’s growing wind cluster including the U.S. south central states, East Coast, the upper Midwest, Great Lakes states and the Gulf of Mexico. The state has 700+ MW of wind generation currently in operation. The Southwest Power Pool, a regional transmission organization, expects its 8-state region to produce 8,500 MW of wind power, with more than half coming from Oklahoma, between 2020 and 2025.

The Oklahoma Wind Power Initiative (OWPI) predicts that by 2030 Oklahoma will be the second-largest generator of wind power in the nation. All of Oklahoma’s major electric utilities offer wind energy to their customers, and Oklahoma boasts enough potential wind resources to supply 10 percent of the country’s electricity needs.

Compiled by Oklahoma’s Site Selection Fast Forward Team, this prospect packet includes contact information, detailed operating costs, tables showing business cost comparisons with other cities, pro-business state rankings, an overview of the state’s corporate tax structure, incentive program information and more.

Traditional Energy — Part of Oklahoma’s rich natural inheritance and history, energy remains an important economic development engine. Energy companies operate throughout the state, including North America’s largest independent oil and natural gas producer Devon Energy and other marquee names such as Kerr McGee and Chesapeake Energy. Combined, all of the state’s energy companies, large and small, operate more than 85,000 oil and natural gas wells.

Weather — It is the emerging enterprise sector that everybody is talking about. And it is happening right here in Oklahoma, where more than 700 meteorology-related professionals are employed by a dozen organizations collectively known as the Oklahoma Weather Center. With weather affecting fully one-third of the United States’ $10-trillion economy, early warning, forecasting and research into weather phenomena has never been more important.

Logistics — Companies such as Wal-Mart, Best Buy, Big Lots, Dollar Tree and others have discovered Oklahoma’s logistic and supply chain advantages, especially for their warehouse and distribution centers. The state’s central location, transportation mode efficiencies, low cost of doing business, unmatched incentives and productive Right To Work workforce are making Oklahoma a top contender in logistics.

Biotechnology — From mapping the human genome to developing innovative therapies in the battle against Alzheimer’s disease and other illnesses, Oklahoma is charging to the forefront in the biomedical/biotechnology sector.  The Oklahoma Health Center, a 300-acre complex in Oklahoma City consisting of 26 research, academic and health care organizations and more than 13,000 employees, is leading the way to making the state the research capital of the Great Plains. The state’s recently passed Nanotechnology Initiative has laid the groundwork for this emerging growth industry of the 21st century.

Oklahoma City Regional Bioscience Plan

Manufacturing — Oklahoma is literally where the rubber meets the road. Home to companies such as Michelin and Goodyear, the state is North America’s leading tire manufacturer. Oklahoma also is a leading manufacturer of heavy construction equipment, and construction materials, and has a fast growing plastics industry.

Northeast Oklahoma Automotive Coalition

Business Services — More companies are discovering the Oklahoma advantage: low business costs, superb location, business friendly attitudes and policies and a great quality of life. That is one reason the business services industry is blossoming in the state, especially for the car rental and call center sectors. Tulsa is now headquarters to several major international car rental firms and company call centers are popping up all around the state.

Value-Added Agriculture — It is impossible to talk about Oklahoma without talking about agriculture. The state continues to be a leader in the production of wheat and cattle, as well as other grains and nuts. Just as importantly, the processed foods industry, which produces everything from sausages to sweets, continues to grow robustly in Oklahoma’s business-friendly climate.

 Business Location

An Overview Of Oklahoma’s Target Industries