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| Location and Economic Overview |
| The Tulsa metropolitan area is the most dynamic region in the state of Oklahoma. Geographically composed of Creek, Osage, Rogers, Tulsa and Wagoner Counties, it contains three of the fastest growing cities in the state as well as two of the four largest. Once dependent upon the oil and defense industries, Tulsa has successfully managed to diversify its economy to become a more modern and competitive regional hub of economic activity. Forbes Magazine has recently ranked Tulsa as the tenth best city in the United States for cost of living, seventh best city in the United States for income growth, and sixth best city in the United States for job environment. Tulsa offers economic opportunities in industries ranging from aerospace, energy, healthcare and professional business services. | Total Employment by Industry in the Tulsa MSA (2007) |
| Robust Job Growth Regional employment growth continues to gain strength following the downturn early in the decade. The Tulsa Metropolitan Area has experienced a brisk level of employment growth over both the state and national averages since 2004. Healthy job creation in industries such as the service sectors, energy and manufacturing has supported a wide-ranging economic expansion. Job creation in 2008 is expected to repeat its strong 2007 performance of 1.6% with a 1.5% growth in the number of employees, or 6,300 new jobs. |
Vision 2025 In 2003 Tulsa County residents approved the Vision 2025 and funded $885 million for the revitalization of the Tulsa region. The 32 approved revitalization programs are designed to create thousands of new high-quality jobs, enhance educational opportunities for citizens, stimulate millions of dollars in private investment, grow small business and unlock the potential of the region. The following list is the top six approved Vision 2025 projects:
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| Employment and Quality of Life Relatively prosperous economic conditions have produced a high rate of growth in the median household income for residents in the Tulsa Metropolitan Area and a lower than average unemployment rate. Median household income increased by 25% from 2000 to 2007 within the Tulsa Metropolitan Area. Tulsa ranked 14th out of 363 metropolitan areas in the United States during 2006 with a notable income growth of approximately 10%. The unemployment rate in the Tulsa Metropolitan Area is currently 3.3% and sits below the national unemployment rate of 4.9%. Unemployment within the Tulsa Metropolitan Area has consistently been below both national and state averages. |
BOK Center Scheduled to open in September, 2008 and designed by world famous architect Cesar Pelli, the BOK Center is an 18,041 seat multi-purpose sports and concert arena that will become an anchor attraction and significant driver of additional downtown development. The arena will host Tulsa Oilers ice hockey, Tulsa Talons arena football, concerts and family-oriented events. Projected to host 150 events per year with an annual anticipated attendance of 750,000 people, the BOK Center will attract visitors and locals alike and increase evening and weekend pedestrian traffic in downtown Tulsa. Advance ticket sales have surpassed expectations for every event including heavyweight tours such as Celine Dion, Neil Diamond and the Radio City Christmas Spectacular. |
| Major Employers As the cost of doing business and access to exemplary infrastructure has diversified the economy and lessened the city’s dependence on the energy sector, the business environment in Tulsa has become more insulated from economic volatility. Major industries in the Tulsa economy are: aerospace, health care, telecommunications, manufacturing, and petroleum and natural gas.
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Tulsa CBD
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