OKLAHOMA CITY — The Sooner State economy grew at a 5.5% clip during the second quarter of last year, the third-fastest rate in the nation during that period, a state official announced.
The only states that outpaced Oklahoma’s gross domestic product during that period were Alaska, which had the highest GDP growth at 8.8%, and Texas, with the second highest GDP growth at 8.5%, said Chad Mariska, Oklahoma secretary of commerce and workforce development.
“With the state’s recent increase in jobs and massive population gains coupled with these GDP increases, Oklahoma is on an exciting trajectory,” he said. “We have a real opportunity here to tell Oklahoma’s story – from talent attraction efforts to showcasing our pro-business policies. People and companies are buying what Oklahoma is selling, and I’m excited to see our momentum continue.”
Flourishing businesses and industries across the state factored into the state’s GDP growth. Oklahoma’s oil and gas sector played a typical key role in fueling the economy, contributing more than $1 billion. The transportation and warehousing sectors were also key players, contributing $444.5 million. Additionally, the arts, entertainment and recreation sector outpaced all others with the highest percentage gain of 7.3% from the previous quarter.
Oklahoma’s population surpassed 4 million this year, Census Bureau estimates reflect.
First-time unemployment claims numbered 1,435 on Jan. 14, nearly 300 fewer than the week before, the U.S. Department of Labor reported. Continuing claims that day totaled 10,781, which was 240 fewer than the week before, DOL ledgers reflect.
Major achievements
Major economic development accomplishments in Oklahoma during 2022, the state Commerce Department reported, included:
• Attracting foreign direct investment at the Oklahoma Air & Space Port.
Premium Aerospace Center will locate its international headquarters at the Oklahoma Air & Space Port complex at Burns Flat. PAC announced it will invest several million dollars to renovate and expand two existing hangars and build a third hangar at the facility. The company estimates as many as 600 new jobs will be added after the hangars are complete.
• Securing the first domestic rare earth metal and magnet manufacturing facility.
USA Rare Earth plans to invest more than $100 million in development of a manufacturing facility in Stillwater and will utilize its own facilities and technology to convert rare earth oxides into metals, magnets and other specialty materials. Initial production at the facility is expected to start later this year, with the goal of creating more than 100 new jobs and generating more than $6.6 million in wages once the plant is fully operational.
• The Oklahoma Film + Music Office, a division of the Commerce Department, received the “Outstanding Film Commission” award last year.
Among its accomplishments: Last October, the office announced that Paramount+ had wrapped principal photography on the first season of the series “Tulsa King,” and “Reservation Dogs,” a Hulu series filmed entirely in Oklahoma, was renewed last year for a third season.
• Utilizing research conducted by Commerce, the Legislature allocated nearly $1 billion in project funds through the American Rescue Plan Act with specific investment in broadband access.
The lawmakers also allocated another $250 million in state funds to create the Progressing Rural Economic Prosperity fund, “which will help industrial parks and aeronautics facilities in rural areas of the state modernize and expand infrastructure, leading to increased economic development opportunities,” Mariska said.
• Supporting community growth and startups.
The Commerce Department implemented or administered multiple programs last year to foster economic growth in Oklahoma communities and encourage startups and entrepreneurs, Mariska said. Such programs included the ARPA for Nonprofits Relief program, the Oklahoma Rural Jobs Act and the Invest in Oklahoma Program.
Other key initiatives included the Economic Development Assistance grant, which allowed Commerce to award 28 communities with funding to support development of 28 new industrial sites to market, and the State Trade Expansion Program grant, which awarded Oklahoma $350,000 to help provide small businesses the information and tools they need to succeed in export-related activities.
• Continued support of Oklahoma companies in partnership with the Oklahoma Development Finance Authority and the Oklahoma Manufacturing Alliance.
In its second program year, the Oklahoma Innovation Expansion Program accepted 122 applications, with 108 actively participating in the program, Mariska said. The participating companies are generating $51.3 million in joint state and business project investment statewide, he said.
• Supporting workforce development.
Through an Impact Partnership Grant, the Oklahoma Office of Workforce Development, a division of Commerce, awarded six new applicants up to $175,000 to invest in their industry-led, collaborative community projects. A million dollars in funding will be allocated to the awardees, extension projects and regional workforce boards.
• Improving supply chains for the manufacturing industry.
Through the supply chain database tool Connex, the Commerce Department was able to provide greater access for local companies across the state.
$3.7B in investment and 7,000 new jobs
Commerce Department-led economic development projects last year are expected to bring more than 7,000 new jobs and $3.7 billion in new private investment, the agency reported. Some of the wins contributing to those numbers included the following announcements:
* Webco Industries, a leading manufacturer and distributor of steel tubing, started construction on the first building of the F.W. Weber Leadership Campus in Sand Springs.
The 72,000-square-foot building will house Webco’s corporate leadership team, Webco University and the Webco Tech Center. The leadership campus will occupy approximately 35 acres of land located adjacent to Webco’s existing Star Center Tube Manufacturing plant. Webco has operations in Texas, Pennsylvania and Oklahoma.
* Simple Modern, a company founded in 2015 that specializes in the design and manufacture of insulated stainless steel and plastic drinkware, began domestic manufacturing operations in Oklahoma City in September.
* Northern Data, a Germany-based tech company, announced plans to build its North American operational headquarters at MidAmerica Industrial Park in Pryor, investing at least $270 million and employing 150 people with salaries reaching up to $140,000.
* Signify Health, Inc., a platform that leverages advanced analytics, technology and nationwide healthcare networks to create and power value-based payment programs, announced the opening of its new regional service center in Oklahoma City.
* RENEW Energy announced construction of a remanufacturing facility in Enid. The new facility will rebuild wind turbine drive trains and hold the largest capacity in North America in regard to the size of those turbines.
* BrucePac, a family-owned company with food processing facilities in Oregon and Oklahoma, held a groundbreaking ceremony at the company’s plant in Durant.
The event marked the start of a $22.5 million expansion that will include additional production areas, refrigeration and processing equipment. In the coming year, BrucePac expects to hire 100 more employees to support future growth in Bryan County.