What we're doing to achieve economic growth in Oklahoma

What we’re doing to achieve economic growth in Oklahoma | Opinion

Posted by Admin January 21, 2025 Jobs

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Heather Turner
| Guest Columnist

Great things are possible when we work together toward an inspiring goal. At the Oklahoma Department of Commerce, our mission is to “cultivate environments and relationships that foster economic growth.” That requires a plan, and more importantly, a strategy for implementation. Through targeted investment, proactive talent development and recruitment, and a commitment to being the most business-friendly state in the country, Oklahoma can compete and lead in the global economy.

Growing new jobs, increasing the average wage and attracting private investment are three key goals for Commerce. In fiscal year 2024, about 27,000 private sector jobs were created in Oklahoma with an average annual wage of $67,000. Commerce contributed to the creation of 10,000 of these jobs through various incentive programs. We want to continue that progress by contributing to 20-30% of the new jobs created while ensuring wages grow faster than inflation.

We understand that businesses and a free market create jobs, not the government. However, Commerce is here to partner with businesses, communities and educational institutions to bolster our economy, make Oklahoma attractive to businesses choosing where to locate or expand, and enhance the workforce pipeline.

This leads to sustainable project wins. We must intentionally invest in strong relationships across our state through elected officials and community partners to ensure we have a thorough understanding of the assets, resources and desires communities have for growth. That’s our competitive advantage.

That’s why I created “All in for Oklahoma.” Anyone can join these quarterly calls or regional on-site meetings as we learn from community stakeholders and share how Commerce can partner with communities in a variety of ways. For example, assisting with targeted investment projects in need of key infrastructure like rail, roadways and water.

Gov. Kevin Stitt wants to “bring Oklahoma to the world and the world to Oklahoma.” That means expanding international trade relations and winning global projects. A perfect example is MLB Industrial, an energy storage company in Australia. When MLB was looking to expand to the United States, CEO Nathan Leech said Oklahoma’s pro-business policies stood out. They are now partnering with a company already in Oklahoma, and Leech is moving his family to Oklahoma City in early 2025.

Infrastructure and workforce are probably the top driving factors for businesses making a site selection, but incentives also play an important role in this highly competitive environment. Oklahoma boasts one of the premiere incentive programs in the nation. What you may not realize is about 70% of our incentives are awarded to businesses already located in Oklahoma. We invest in businesses who invest in us. Our incentives are also performance based to protect taxpayers, meaning companies don’t receive a single dollar until certain performance metrics are met.

Oklahoma’s Commerce team is unmatched. Evan Brown, executive director of Economic Development, Growth and Expansion (EDGE), is revamping our recruiting and project management teams for a proactive approach. Main Street and Film + Music help communities create jobs and enrich quality of life, all while promoting Oklahoma across the world. Meanwhile, the Community and Rural Development teams are facilitating grants and equipping communities for economic growth.

I truly believe Oklahoma is the best place to live, work and start a business. We have resources like the Oklahoma Business Hub website, a one-stop shop for entrepreneurs and small business owners. We also have 32 Oklahoma-certified entrepreneurship incubators and this year we will begin our Small Business monthly workshops.

Economic development is not done in a silo. It’s not state or community; it’s state partnering with communities. I’m committed to being the most adaptive and accountable agency, responsive to the needs and input of state leadership and community partners. As long as we stay disciplined with these goals and objectives, I know that we can have a generational impact on Oklahoma’s economic future.

Heather Turner is deputy CEO & executive director of Community Outreach and Revitalization Enterprise (CORE) at the Oklahoma Department of Commerce.