There is more than meets the eye in the Oklahoma City economy
OKLAHOMA CITY – While energy jobs are the first thing that pops into most people’s mind when talking about the Oklahoma City economy, most new residents (and even some longtime residents) are surprised to find out how big industries like aerospace, biotech and technology are in the metro. Ever wonder why Oklahoma City ranks so high as a place for job seekers? The growth and stability of these industries are definite contributors to our success.
With recent announcements of job growth from Boeing and Tinker Air Force Base, Oklahoma City’s aerospace industry is soaring, pun intended. Greater Oklahoma City’s aerospace industry represents more than 36,000 jobs at more than 230 public- and private-sector firms. The state of Oklahoma ranks 12th nationally in the number of aerospace engineers, fifth in aircraft mechanics and service technicians, and eighth in avionic technicians. Aerospace firms now produce $4.9 billion in goods and services locally, up from $4.3 billion as of 2011.
With the Oklahoma Health Center just north of downtown, Oklahoma City has long been a hub of biotech research. In recent years, Oklahoma City’s own research institutions have made significant advances in the fields of Alzheimer’s disease, rheumatoid arthritis, and septicemia, to name a few. Firms in Greater Oklahoma City’s biotech sector boast annual revenues of more than $6.7 billion and employ more than 51,000 workers.
Technology and entrepreneurship
It is no secret that Oklahoma City’s pioneers, both in the past and present, have carried a spirit of entrepreneurship into their business and civic ventures. That spirit is very much alive today in Oklahoma City’s growing entrepreneurship community. From successful tech startups to the inventor’s workbench, OKC is a place where your ideas can get off the ground. (Looking for entrepreneurial resources? Visit www.greateroklahomacity.com [especially the EDIS and LBI tools] and www.i2e.org.). For more on the entrepreneur scene in Oklahoma City check outhttp://viewer.zmags.com/publication/35fc33e7#/35fc33e7/1.
Oklahoma City has long been considered a global oil capital, and with good reason. Oklahoma has a rich history of growing successful energy companies, and our state Capitol even has a working oil rig on its grounds. But a lot has changed since the early wildcatter days of Oklahoma’s past. Oklahoma energy companies work in petroleum, compressed natural gas, wind power and solar energy, and they use state-of-the-art technology. In fact, GE Research’s first industry-specific research center recently opened in Oklahoma City and will bring the most updated oil and gas technology to Oklahoma City’s energy companies.