Download - Oklahoma City - General Information
Greater Oklahoma City
General Information
Greater Oklahoma City
• Ten county region• Oklahoma City MSA
Population:
1,308,537• Oklahoma City - Capital of
the State of Oklahoma• 29th largest city in the U.S.• Largest city in Oklahoma
Oklahoma City Quick Facts
• Most populous city in the State of Oklahoma
• Ranked No. 1 most affordable housing market of the 50 largest metropolitan areas
• In land area, it is the 3rd largest in the nation
• Tinker Air Force Base is the 2nd largest military air depot in the nation.
OKC U.S.
White 77.2 77.4
African American
10.0 11.4
Asian 2.9 3.7
American Indian
6.5 .8
Hispanic 6.0 .11
Other 3.4 4.8
Diversity
In the Greater OKC AreaStudents 216,517
Student/Teacher Ratio
17.9
Expenditures Per Student
$5,774
Percent Non-English
1.55%
Graduation Rate 89.2%
Education in OKC
Quality of Life
OKC Living by the Numbers
• 87.4 Cost of Living Index (13% below national average)
• 20 Minutes of average commute time
• 2 Points by which Oklahoma City's personal income growth rate is outpacing the national average
Climate in Oklahoma City
• Average annual temperature is 60°F
• Average annual rainfall of 33.6 inches
• Snowfall averages less than 10 inch a year
• The air is clean
Health Care
• Level 1 Trauma Center with MediFlight
• One of the nation's leading heart transplant teams
• One of the country's most complete medical research centers
• One of the most respected eye institutes
• Quality health care at 35 hospitals
Housing
• No. 1 most affordable housing marketof the nation's 50 largest metropolitan areas
• Family-housing
• Condominiums
• Townhouses • Apartments
Recent Accolades‘2nd fastest personal income growth rate in the U.S. since 1983” -Bizjournals “6th most appealing city for
workers age 20-30.”-Bizjournals
“Ranked 2nd among the nation’s 100 largest metro areas for economic performance since the recession” –Brooking Institute
Sixth Most Driveable City-America’s Most Driveable City Survey
Economic Information
Size of Economy
• The Gross Metropolitan Product of the area is
34.2 Billion
• World’s 124th largest economy
• Ahead of Costa Rica, Guatemala, Cuba,
Bulgaria and Syria (among others) and 2/3 of
all countries worldwide
Japan12%
Mexico1%
Belgium2%
Finland2%
France14%
Germany12%
Ireland1%Netherlands
6%
Singapore1%Sweden
7%Bermuda
5%
Switzerland4%
United Kingdom
17%
Australia2% Canada
14%
Economic Diversity – 100 International Companies
Major Area Industries• Government• Aerospace • Technology / Manufacturing • Energy• Distribution & Logistics • Biosciences / Biotechnology • Health Care Services • Shared Services / Back office
Cost Among Nation’s Lowest
• Oklahoma City’s regions cost of doing business to be one of the lowest
• Measured the relative cost of labor, energy, taxes and office space
Business Incentives
QUALITY JOBS PROGRAM• New jobs to the state
• Must average county wage or $28,878 whichever is lower
• Company must achieve $2.5 million annual payroll within 3 years
• Offer Basic Health Insurance
• Cash payments of up to 5% new payroll for up to 10 years
• Targeted Industries: Manufacturing, R&D including Wind Power Manufacturing, Corporate Services, Data Centers
INVESTMENT/NEW JOBS TAX CREDIT
Choice of Tax Credit based on…
Investment or New Employees• Five year tax credit on the greater of
1% per year of investment in new depreciable property or $500 per new employee
• Credit doubles in Enterprise Zones
• Credit doubles if investment exceeds
$40 million
• Minimum investment of $50,000
• Qualifying manufacturers or Aircraft
Maintenance
QUALITY JOBS + INVESTMENT TAX CREDITS
An incentive that targets industries that have large capital investments in addition to creating skilled jobs.
Qualifying Requirements:• Wages must be equal to or greater than the state’s average wage – presently
$35,131.• Capital investment greater than $40 million qualifies the investment for a 2% tax
credit per year for 5 years.• QJP+ITC may not be combined with Small Quality Jobs or 21st Century QJP.• Industries that may qualify for the incentive are only those industries that presently
qualify for ITC (that is manufacturing industries).• Requires a letter of determination from the the Department of Commerce that the
project is net benefit positive for the state.
• Becomes effective January 1, 2010.
AD VALOREMProperty Tax LiabilityApproximately 1% of the qualifying investment. Company pays the local taxing jurisdiction which varies by location.
Example: $100 million investment is app. $1 million tax liability.
Property Tax ExemptionsCompany may file for a 5-year tax exemption on qualifying assets.
Application made each year by March 15 to county assessor.
Local taxing jurisdictions are reimbursed by the State of Oklahoma.
PRIME CONTRACTOR• An incentive that rewards prime contractors for performing federal contracting
work in Oklahoma and awarding subcontracting work to Oklahoma businesses.
• An incentive for allowing companies that are awarded federal contracts (prime contractors) to be paid for jobs and payroll created at both the prime contractor and a qualifying subcontractor.
• FEMA emergency grants are not qualifying federal contracts.
• The net benefit rate ranges from .25% to 2% and is tied to the amount of subcontracting work performed by qualified Oklahoma companies and the total amount of contract work performed by the prime contractor in Oklahoma.
• A federal contract verifier ensures the prime contractor is awarded a qualifying federal contract.
• Currently, the University Multispectral Lab at OSU qualifies as a federal contract verifier.
• Effective July 1, 2009.
Additional Incentives
• Sales Tax Exemption on machinery and consumables used in the mfg. process, including energy
• Freeport Exemption on goods, wares, and merchandise which come into Oklahoma from outside the State and leave the State within 9 months
• 21st Century Quality Jobs provides up to 10% cash back on 10 or more jobs which pay wages of 300% of the state average or higher
Oklahoma City (SIP)
Potential local Incentive• 250 Jobs• Average Salary of $70,000• $40,000,000 investment
Your company could qualify for up to $1,875,000 million in local incentives. ($7,500/job)
MAPS
Metropolitan Area Projects (MAPS) 1993 - 2004
Bricktown Canal
Cox Convention Center
Bricktown Ballpark
State Fairgrounds Renovations
Civic Center Music Hall
Trolley System
Ford Center
Canadian River Project
Library Learning Center
MAPS for Kids & School Bond 2001 - Present
New Douglass HS
New US Grant HS
New John Marshall HS
• 8 projects, $777 million•7 years, 9 months of one-cent sales tax collection (maintains sales tax rate at current level)•Includes $17 million of contingency•Citizens Oversight Board
THE PARK70-acre world-class park
Centerpiece of “Core to Shore” project
TRANSIT5-6 miles of rail streetcar
Ability to fund potential commuter transit lines and transit hub
CONVENTION CENTERReplaces aging, inadequate facility
Required to maintain $1.8 billion visitor economyCreates jobs and attracts visitor dollars
SIDEWALKSStrategically-placed sidewalks near public facilities around the City, like libraries and schools
TRAILS57 miles of bicycle and walking trails around the City to all but complete City’s trails master plan
The Oklahoma RiverEstablish the best rowing course in the world, and construct a world-class whitewater kayaking facility
THE OKLAHOMA STATE FAIRContinue upgrades of publicly-used buildings
HEALTH AND WELLNESS AQUATIC CENTERS FOR SENIORSConstruct state-of-the-art wellness centers for seniors around the City
Arts and Culture
• Oklahoma City Stockyards
• Strong cowboy heritage
• Sit in on one of the largest cattle auctions
Western Flavor
• Rich Native American history and traditions from all the tribes.
• Hosts the Red Earth Festival,
Native American Heritage
• Oklahoma City’s Asian District is located just north of downtown
• Filled with restaurants, shops and cultural experiences.
Asian District
• Oklahoma City Museum of Art
• Paseo Arts Festival
• Festival of the Arts
• Arts Festival Oklahoma
Oklahoma City Arts
Performing Arts
• Civic Center Music Hall
• Oklahoma City Philharmonic Orchestra• Ballet Oklahoma
• Canterbury Chorale Society
• BLAC, Inc.
• Lyric Theatre
Attractions
National Cowboy and Western Heritage Museum
• Classic and contemporary western art
• Sculptures
• Great special event venue
• Peaceful monument
• Museum
• Outdoor memorial with its reflecting pool
OKC National Memorial Museum
• Oklahoma City Zoo
• White Water Bay
• Omnidome
• Science Museum Oklahoma
• 140 public parks including exercise paths, picnic areas, swimming pools and tennis
courts.
Family Fun Activities
• Restaurants
• Lounges
• Night clubs
• Upscale dining
• Cultural foods
Bricktown
• AT&T Bricktown Ball Park
• Home to the Oklahoma RedHawks
• One of the top minor league ballparks in the country.
Sports
• Ford Center
• NBA's newest team, the Oklahoma City Thunder
• Oklahoma City Barons of the AHL
• Oklahoma City Yard Dawgz Arena Football Team.
Sports
• Oklahoma City’s OKC Rocks
• Oklahoma City is rowing
• Chesapeake Boathouse on the Oklahoma River
• First-class rowing venue.
Sports
• The Myriad Botanical Gardens
• The Crystal Bridge Tropical Conservatory
• Martin Nature Park
• Over 50 lakes
• Private and Public Gold Couses
Urban Retreats