Who will be the next big company in OKC? Will it be an already existing small company making it big time or will it come from outside the state?

Discuss.

I'm hoping Quest Resources Group. They're only around 80 employees right now, but they've been growing fast. They recently made a huge buy into some Appalachian area shale. I mostly hope this because I bought some of their stock :)

I doubt anyone relocates here. Texas is too close and their corporate tax structure is much more favorable.

It will probably be home grown. We still have a corporate tax problems compared to our neighbor to the south. Did anyone read the TIF article this morning in the Oklahoman? Devon is not only going to be taxed on the building but every computer, telephone, and desk chair inside. Not exactly the kind of tax policy that invites outsiders.

I doubt anyone relocates here. Texas is too close and their corporate tax structure is much more favorable.

What can we do to make Oklahoma's more favorable? A quick shot in the arm would be a fortune 500 company relocating here.

*edited* So if we need to look at tax codes why don't we? Is it the revenue hit that we would take? We should be more progressive on the tax front.

Well - the first thing they could do is get rid of the ad valorem tax, remove the personal income tax (or reduce it alot), and reduce the corporate tax percentage. Multiple states have done this and they are growing like crazy. In general, the US has the worst corporate tax structure in the world and people still can't see why US companies are moving overseas.

I use to work for a London based company but most of the operations were run out of Tampa. Management finally said screw the US, we are going to move everything back to London. During the process the company was bought by a competitor and the whole operation was moved to Germany. The result was about 750 high paying jobs leaving for overseas and nearly vacant highrise building in Tampa.

With the rapid improvement at OU, you're already starting to see lots of sharp young people come from all over, plus most the best and brightest Oklahoma kids are staying in state as well.

I think you'll start to see more technology start-ups, ala Austin and the Research Triangle in NC.

I've noticed several small companies that have sprung in this manner -- that are all driven by 20-somethings.

What can we do to make Oklahoma's more favorable? A quick shot in the arm would be a fortune 500 company relocating here.

*edited* So if we need to look at tax codes why don't we? Is it the revenue hit that we would take? We should be more progressive on the tax front.

The trouble in Oklahoma is that to change the tax code, i.e., raise taxes, we have to have a vote.

I'm not a tax professional, but I'd really like to see the legislature appoint a committee to reevaluate our tax code and consider something which more closely resembles Texas' code.

Well - the first thing they could do is get rid of the ad valorem tax, remove the personal income tax (or reduce it alot), and reduce the corporate tax percentage. Multiple states have done this and they are growing like crazy. In general, the US has the worst corporate tax structure in the world and people still can't see why US companies are moving overseas.

I use to work for a London based company but most of the operations were run out of Tampa. Management finally said screw the US, we are going to move everything back to London. During the process the company was bought by a competitor and the whole operation was moved to Germany. The result was about 750 high paying jobs leaving for overseas and nearly vacant highrise building in Tampa.

Reducing taxes can't be the answer. We have many vital services which have huge funding problems, e.g., the Department of Corrections, DHS, our education system.

Lower taxes is probably not the answer. Smarter taxes is.

Reducing taxes can't be the answer. We have many vital services which have huge funding problems, e.g., the Department of Corrections, DHS, our education system.

Lower taxes is probably not the answer. Smarter taxes is.

I see them being the same thing. Lower the tax rate and spend the money smarter. Nothing will make you stupid like having too much unearned money to spend.

The trouble in Oklahoma is that to change the tax code, i.e., raise taxes, we have to have a vote.

I'm not a tax professional, but I'd really like to see the legislature appoint a committee to reevaluate our tax code and consider something which more closely resembles Texas' code.

Hear hear!!

Hear hear!!

The trouble is, it's going to take a lot of smoke and mirrors to get the state to vote for a tax hike. We're, unfortunately, dominated by the rural vote (they show up, urbanites do not). The perception "out there" is that they will not benefit from a tax hike and that it'll be all about OKC and Tulsa. So they'll turn out in droves to vote "no."

I think that in order to make any real change, we'd have to have a Constitutional Convention and make so many changes to the Constitution that folks will be too confused to really know what's going on. Maybe then a case could be made to the public to win a "yes" vote.

I'm very cynical today.

Probably the best bet is a growing energy company like Sandridge (well on its way to being a bigtime energy company) or Quest, as mentioned above. Companies that feed off Devon and Chesepeake will also benefit from their success and could become large companies themselves. I'm hoping more startups in medical research come out of the OMC.

The trouble in Oklahoma is that to change the tax code, i.e., raise taxes, we have to have a vote.

It's troubling that we participate in deciding how we're taxed? That's kind of scary.


make so many changes to the Constitution that folks will be too confused to really know what's going on.

That's even scarier.

Maybe, I'm reading this wrong, but are you suggesting to put more power in the hands of fewer people or, even worse, suggesting the government intentionally confuse people in order to manipulate them? Sir, you have wounded my idealism. :sofa:

I'm hoping more startups in medical research come out of the OMC.

Very good point.

As it is, there are a whole bunch of smaller biotechs there now. All it takes is a breakthrough in a drug or medical technology and one of those things can explode.

I live very near Amgen, a massive biotech company that is all built around just 2-3 cancer drugs.

Here is a comment from someone on another forum

"Ton Loc
Sooner Rookie
Location: Midwest City
Posts: 74
Re: Devon Tower announced at 54 stories

--------------------------------------------------------------------------------

Fun Facts: It would be the 20th tallest building in the country and the 54th tallest in the world.

I just got back from Houston and the people there seem to be afraid that Devon may consolidate their Houston office after the new OKC building is done. Of course, I would be fine with that because Houston sucks and I am tired of traveling there.

Also, Larry expressed at the town hall meeting that a lot of other companies located on the both coasts are getting tired of the cost and bureaucracy of the state governments there and have talked to him about moving some/all operations here.

I can't wait until the new building is done. "

Wow... that's awesome.

This is why I believe so much in the "Rising tide lifts all boats" mindset. I'd love to see big non-Oklahoman companies relocate here.

And oh, the state has seen record tax collections after the recent tax cuts were enacted, so less taxes is a great answer. Everyone from the common man to companies are most confident spending money when the tax burden isn't so heavy.

Reducing taxes can't be the answer. We have many vital services which have huge funding problems, e.g., the Department of Corrections, DHS, our education system.

Lower taxes is probably not the answer. Smarter taxes is.

Yup, lowering personal income tax would see a huge increase in property tax.

Money is like electricity - it follows the path of least resistance.

I would love to see some large companies relocate to OKC, but doubt that will happen in significant enough numbers to make a difference. One or two may be attracted by lower taxes, cost of living, etc. But it seems to me that the growth will be organic. I haven't lived there in a while but I would look at well-run, well-positioned local companies for the answer. Also, biomedical and aviation companies spinning off the health center and Tinker. And of course, oil and natural gas (accompanied by the always-present worry about putting too many eggs in that basket)

Yup, lowering personal income tax would see a huge increase in property tax.

Well lets think about. I actually have the worst of both worlds right now. I pay state income tax in Georgia but Florida property taxes.

My Georgia income tax = ~8,000 per year
My Florida property tax = ~$4200 per year

Give me the property tax.

One thing that has not been mentioned is that Devon & Chesapeake (and you could probably throw in Sandridge as well) and their respective leaders are extremely well-respected in business circles and get a lot of press.

The comments above by Nichols show how others are looking to him and McClendon because they are so wildly successful and that leads to lots of interviews, talks, leadership roles in national organizations, etc.

When you hear those two men talk about their businesses and ultimately Oklahoma City, it's very contagious. And people in expensive cities are always looking for the next up-and-coming place to escape to, where cost of living is low and hassles are minimized.

I simply can't think of another city that is poised for really strong growth than OKC. And considering the existing infrastructure and plenty of space to grow both in the central city and out-lying areas, the metro could easily handle lots more people.

And increasingly as Nichols & McClendon are looked to as visionaries, I think other companies and people in general will become as excited about OKC as they are.

Well lets think about. I actually have the worst of both worlds right now. I pay state income tax in Georgia but Florida property taxes.

My Georgia income tax = ~8,000 per year
My Florida property tax = ~$4200 per year

Give me the property tax.

The money's gotta come from somewhere, Kerry. If you lower personal income taxes, we have to make up the difference. Maybe individuals would see less, maybe not. But don't try to say that your particular tax posture between two states is somehow indicative of what the hypothetical change would be in Oklahoma for Oklahomans living and paying taxes only in Oklahoma. That's intellectually dishonest.

IMaybe, I'm reading this wrong, but are you suggesting to put more power in the hands of fewer people or, even worse, suggesting the government intentionally confuse people in order to manipulate them? Sir, you have wounded my idealism. :sofa:

If you are/were in favor of the tort reform package in 2007, then you have been manipulated in just that manner. Voter misdirection is Oklahoma politics 101.

Also, imagine you're someone that runs a company (small or large) looking for the best place to be in the long-term.

You start to hear all these great things about OKC; the newest big league city with a downtown that is being used as a model for communities around the country. About how a few energy companies are amazingly successful by utilizing the skilled workforce and how the employees love OKC because they can live like royalty due to the cost of living and ease of everything.

So, you fly into the smashing new airport and head downtown to see for yourself. You stay at the beautifully restored Skirvin, walk over to Bricktown and see all the street life, have dinner at Nonna's and maybe a cocktail afterwards at Mickey Mantle's.

The next day the Chamber of Commerce shows you a video and takes you on a driving tour of seemingly endless new civic projects and districts being transformed. You see and hear about how the river will soon feature an internationally recognized rowing venue with amazing, award-winning architecture. Across the way you learn all about the massive Native American Cultural center. You see the river and canal boats filled with tourists.

The cranes of Devon Tower loom very high overhead. Myriad Gardens is being transformed into a true urban park. Core 2 Shore is starting and you see all the plans for a new, wide boulevard, an incredible new convention center and see some other cranes scattered along the skyline.

The next day, you tour the Midtown area and see lots of housing projects and young people at the various bars, restaurants and clubs. You notice the gorgeous historical neighborhoods and marvel at the inexpensive homes within walking distance of downtown and the surrounding area.

You drive further out and see some of the suburbs and can't believe it only takes about 15 minutes to get anywhere and that the extensive freeway system is running wide open, even in rush hour. A huge house and acre of land for under $400K??? Unbelievable. And extremely nice homes in a great school districts for less than $200K!

That night, you go to an NBA game in the beautifully expanded Ford Center and note the fantastic enthusiasm of the fans. A late dinner at the gorgeous and delicious Red Prime Steak house and you see yet another emerging district running up Broadway. Stroll back to the Skirvin past the new Chamber HQ and have a nightcap at the Red Piano Lounge.

The next morning, you start crunching numbers. Good grief! Office space is amazingly cheap! We could rent or buy for a fraction of other cities. And our wages would still be much, much lower but our employees can still live very comfortably.

As you head back to the airport, you're amazed by the potential of this city that is just starting to be realized. You sense an excitement building... Like Phoenix in the 80's.

As you settle into your seat one thing stands out above all: The people are so incredibly friendly, kind and extremely proud of their city. And it occurs to you: They feel that way for very good reasons.

Pete - you pretty much just summed it up. Now to see if the theory works in reality. Has a company ever moved its corprate headquarters to OKC? I don't mean a small company, I mean 500 or more people. How big was Sandridge when it moved?

SandRidge had about 300 employees when they moved, I believe.

I actually think the best opportunities lie with the small- and medium-sized companies that are poised for strong growth.

And I think increasingly the homegrown businesses will stay put.

Oklahoma's TOTAL tax burden is one of the lowest in the country. You can't provide services and have NO tax. Of course you can spend money more wisely, but you can't keep asking for more and expect lower taxes. That is voodo economics and why we have a huge national debt and increasing deficits.

The real issue in getting corp headquarters here is that the states with low or no PERSONAL income tax is attractive to the higher paid execs who tend to spend a lower PERCENT of their income on property. It is usually not to benefit the company as much as a few individuals in the company...the highest paid ones. Of course, they are the same ones making the relocation decisions, so they tend to benefit themselves first, sometimes even at the greater expense of the shareholders who pay the higher overall taxes.

Great truism in economics...THERE IS NO SUCH THING AS A FREE LUNCH!

Very good point.

As it is, there are a whole bunch of smaller biotechs there now. All it takes is a breakthrough in a drug or medical technology and one of those things can explode.

I live very near Amgen, a massive biotech company that is all built around just 2-3 cancer drugs.

The possibility of small biotech startups plus the crazy amount of growth planned at the OMC will keep that area going for a long time. OU's growing medical school, hospital, and research buildings plus the private enterprises like OMRF (building an impressive new building soon) and PHF (continuing to expand their campus) present some exciting possibilities. As that area becomes denser it will be even more crucial to connect the OMC to downtown via light rail. Better connecting the OMC to downtown by encouraging growth along NE 10th and points south and west while improving the neighborhoods to the north and east should be a high priority as well.

Quality of life and the ability to hire well-educated workers are much more important to companies than tax issue. You guys sound like State Chamber megaphones sometimes. Texas has had crazy things happen with their property-tax and sin and fee to death based tax structure. The grass is really not always greener.

Remember how we were going to see a cavalcade of new manufacturing jobs if we passed Right to Work? It didn't happen. Not everything you hear is accurate.

California's GDP dwarfs everyone, and they do not have a "business friendly" tax structure. They offer a world class quality of life and a bevy of smart people.

In order for OKC to continue to grow, we need to be an attractive location to live for smart people. Fortunately, our city leaders (mostly) understand this.

soonerguru, you need to take another look at the jobs exiting California in droves. In 1990 California had 200,000 people making $1 million per year. Last year they had 20,000. Look at all of the growth in Portland, Seattle, Phoenix, Reno, and Las Vegas. Where do you think all of those people are coming from?

Quality of life and the ability to hire well-educated workers are much more important to companies than tax issue. You guys sound like State Chamber megaphones sometimes. Texas has had crazy things happen with their property-tax and sin and fee to death based tax structure. The grass is really not always greener.

Remember how we were going to see a cavalcade of new manufacturing jobs if we passed Right to Work? It didn't happen. Not everything you hear is accurate.

California's GDP dwarfs everyone, and they do not have a "business friendly" tax structure. They offer a world class quality of life and a bevy of smart people.

In order for OKC to continue to grow, we need to be an attractive location to live for smart people. Fortunately, our city leaders (mostly) understand this.

Turning OU into one of the top public universities in the U.S. could do wonders for OKC. Right now it's toward the middle but steadily improving. There are some individual programs like meteorology, geology, dance, petroleum engineering, etc. that are excellent and the majority of programs are solid but there are many other public state universities that are better. It is important for the state to realize OU's impact and fund it accordingly instead of continuing to cut funding. If you look at any of the top cities in the U.S. they all have top universities either in the city or nearby. With Norman only 20 miles from downtown and eventually part of the Metro commuter rail system it might as well be OKC and many of its students and grads will most likely work/live in the OKC area (those that don't move to Texas).

Quality of life and the ability to hire well-educated workers are much more important to companies than tax issue. You guys sound like State Chamber megaphones sometimes. Texas has had crazy things happen with their property-tax and sin and fee to death based tax structure. The grass is really not always greener.

Remember how we were going to see a cavalcade of new manufacturing jobs if we passed Right to Work? It didn't happen. Not everything you hear is accurate.

California's GDP dwarfs everyone, and they do not have a "business friendly" tax structure. They offer a world class quality of life and a bevy of smart people.

In order for OKC to continue to grow, we need to be an attractive location to live for smart people. Fortunately, our city leaders (mostly) understand this.

Bingo. In my not so humble opinion, what you have just said is exactly right.

Honestly I like the idea of rail but it has really turned into "the silver bullet" that is going to fix everything lately. The #1 thing we have to do is make OKC a city that lots of various types of people can have fun in and will want to stay in. I know I have been involved in corporate mergers or relocations before, and in all cases tax burden wasn't even in the top five. Being close to the customer, being near competitors or a sufficient job pool, and being in a city that would maintain those things were all at the top of the list....

I see a lot of potential for Midfirst Bank to grow. They are expanding in Arizona now, and it seems they will surely be outgrowing their space on I-44 soon. Definitely seems they would move downtown if so.

I see a lot of potential for Midfirst Bank to grow. They are expanding in Arizona now, and it seems they will surely be outgrowing their space on I-44 soon. Definitely seems they would move downtown if so.

It would be great if they would move into the First National Building. Where the bank used to be would be great for all the downtown workers. The branch in Robinson Renaissance is just to small sometimes. I would like to have a safety deposit box downtown, but instead I have all my stuff at the branch in Moore, if they could get that building there is a huge safe there.

That would be very cool. I don't think the tower will ever be workable for large corporate offices, but I can see that working with Midfirst having their offices in renovated space in the east addition and the actual branch in the Great Banking Hall, safes, etc.

I would love to see some large companies relocate to OKC, but doubt that will happen in significant enough numbers to make a difference. One or two may be attracted by lower taxes, cost of living, etc. But it seems to me that the growth will be organic. I haven't lived there in a while but I would look at well-run, well-positioned local companies for the answer. Also, biomedical and aviation companies spinning off the health center and Tinker. And of course, oil and natural gas (accompanied by the always-present worry about putting too many eggs in that basket)

Why do you have doubts about large companies relocating to OKC? I have to disagree. I believe it would have a significant bearing to make a difference. That kind of " mind set" is something that OKC does not need. OKC needs a few more Fortune 500 companies to relocate. As I have mentioned in previous threads, if oil and gas prices plummet OKC would be like it was again in the 80's with nothing to fall back on. If we are going to be a big league city, then it is time we grow up and start thinking more "outside the box" and more progressive.

soonerguru, you need to take another look at the jobs exiting California in droves. In 1990 California had 200,000 people making $1 million per year. Last year they had 20,000. Look at all of the growth in Portland, Seattle, Phoenix, Reno, and Las Vegas. Where do you think all of those people are coming from?

California is still outpacing those states for economic output. What those places do offer, however, is an attractive location for smart people to live. Portland is the new San Francisco. It is just more affordable and livable. We have a long way to go before we compete with Portland and Seattle, but we should aspire to that.

Those cities offer enormous quality of life advantages. Tax burden has little to nothing to do with it. New York City is not "business friendly," at least as defined by dopey GOP talking points. But NYC offers enormous cultural attractions that draw the best and brightest. If you can make it there, you can make it anywhere.

We will not, and cannot, be NYC. And that's fine with me. But we could offer free land and no taxes and that would not entice quality companies to relocate here. It's ALL about quality of life. If you argue otherwise, you clearly haven't been involved in economic development since about 1991.

And another thing. No sensible, quality, high paying company is going to choose to relocate to a state where more than a third of the population is functionally illiterate. Nor will they locate somewhere where school and universities are underfunded. Nor will they locate somewhere where infrastructure (roads, bridges, services, beautification, public transit) are underfunded.

If we think our state sucks, we will race to the bottom to attract the bottom feeders (no taxes, Right to Work, etc.). If we think our state is the gold standard, we will hold out for the higher bidders.

I think we are better than Mississippi. Therefore, I am not swayed by the stupid, unproved arguments that we need to offer something for nothing.

The truth is that our tax burden is low compared to other states.

The truth is that we have made MAJOR progress to improve our quality of life and make our state more attractive to business.

The truth is that much work is left to be done.

Our city is now attractive to visitors. This alone seems like a miracle when you consider our situation from even a decade ago.

Now we must continue the momentum to improve our city to make it an even more attractive location for people to live -- for people of diverse backgrounds and interests. We are certainly headed in the right direction in that regard.

The WORST thing we could do is to further undermine our already underfunded public sector with irresponsible tax cuts. We cannot afford our already woefully underfunded services to be even further downgraded. If we were a private sector company and we did this, it would be because we are in crisis (a la Semgroup from Tulsa).

We are not the federal government. We cannot just print money and sell bonds to the Chinese when we overspend our budget. In this state, we have to pay the bills, and if we don't have the revenue to pay the bills, services get cut. I don't know what kind of utopian universe you may live in, but if you think there's a lot of "fat" to trim in our state budget, then you haven't looked at the balance sheet in a while.

I say, let's keep doing what we're doing and let the bottomfeeders (companies who wish to make no investment in their communities) move to the Mississippis and Louisianas of the world. Oklahoma is on its way to becoming a first-world state.

soonerguru, you need to take another look at the jobs exiting California in droves. In 1990 California had 200,000 people making $1 million per year. Last year they had 20,000. Look at all of the growth in Portland, Seattle, Phoenix, Reno, and Las Vegas. Where do you think all of those people are coming from?

Of that number, I wonder how many were pro athletes or movie stars.

I see a lot of potential for Midfirst Bank to grow. They are expanding in Arizona now, and it seems they will surely be outgrowing their space on I-44 soon. Definitely seems they would move downtown if so.

Agreed. Especially with Midfirst on solid ground and the FDIC and economists predicting hundreds of bank failures over the next few years. There might be a lot of people looking for a new place to put their money.

I'd like to see a MidFirst tower downtown. It probably wouldn't be that tall, maybe 20-25 stories. I'd put it on Broadway where that surface lot is at 4th street and make sure it includes retail space along our future LRT route on Broadway.

I think you will see AF downtown once the Devon building is complete. My guess is they will buy the current Devon building once it is available. I would love to see Mid-First downtown as well also but I am sure they are going to want the their name on the building which pretty much means they would need to build new. Finally, I wish they would just give up trying to update the FNC for offices. That building should go residential as soon as possible.

Why am I doubting the claim of only 20,000 millionaires in Cali, when in the past there had been 200k? Can someone provide some quality data on this?

Silicon Valley has been the biggest engine of our economy outside the oil patch. Apple, Google and others alone churn out HUGE GDP for our country.

For some reason, it's popular with people in Oklahoma to dis California, but their economy is HUGE. It's a center of finance, creativity, manufacturing, agriculture, shipping, high tech, Hollywood, et. al. People act like it's just a bunch of bongsmoking leftist surfing hippies.

We've been defined by energy, much like Detroit by auto's or Orlando by Disney.
We should be foresighted enough to realize that some buisinesses wildly succeed or eventually freefall.
That said, I'd like to see a sustainable development consulting firm HQ here in OKC, with branches in major cities across the nation, and even rural ones eventually.
It's unlikely to happen here though.

1. We should definitely focus on bringing small or medium sized companies that are owned by Oklahomans that are located in other places to OKC. We are a central location, so we could attract a lot of restaurant headquarters or simliar bicoastal companies. I could see the Sprinkles company relocating their headquarters to OKC after they are stretched all over the county. After all they could use Oklahoma's agricultural resources to contact farmers about making their ingredients organic. Their main ingredients being milk and flour (wheat). Also if we can attract a lot of smaller companies it will diversify the economy making it stronger and more unique.

2. Their are companies that could grow exponentially that already are in Oklahoma. Nucare makes the best protein mixes/supplements from milk (whey, casein, and other proteins that are better for men than soy). They are located in Kingfisher. So, if you drink protein mixes look them up! They are the best, and if we buy their protein we will see the returns as they grow, and possibly have to move to OKC to be closer to an airport to market their incredible product!

3. Also we could focus on attracting parts of other companies. A lot of companies headquartered in large cities like New York City, Boston, and San Fransisco, have employees that can't afford to live there, such as accountants. A lot of them currently live in other cities and fly in for the week and fly home. If they would move their accounting to OKC they could save in so many ways. If we pursue those educated workers, they could move their accounting to Oklahoma. Where accoutants could live comfortably making $60-75k yr. Where in NYC and Boston they would be living in a 800 sq ft apartment trying to make ends meet. We need to focus on showing that OKC is a better place to relocate jobs than India. We just have to pursue them using one of the Quality Jobs initiatives. I think we can start moving away from Call Centers and focus on making OKC an Accounting Hot Spot! Just think of GoldmanSachs, MorganStanley, General Electric, IBM etc. A lot of oil and gas companies already do this. BP has a lot of accountants based in Tulsa, and ConocoPhillips has theirs in Tulsa, I know this happened for the wrong reasons, but if we can focus on a workforce that is attainable, this is a great one! I am sure many of you can think of more that we could move to OKC.

Why am I doubting the claim of only 20,000 millionaires in Cali, when in the past there had been 200k? Can someone provide some quality data on this?

Not millionaire, but people earning $1 million per year. I don't have a link to provide but I worked in California a few years ago and there was a ballot initiative to add a 1% surcharge on people earning above $1,000,000 per year. The CEO of Intel was leading the charge against it. He was airing a commercial that make the claim I referenced. Having lived in California for 21 years I can tell you the wealth has left the state at the individual level. BTW, the ballot initiave passed and the CEO of Intel switched his income tax burden to Arizona.

P.S. I did find the article
The Wall Street Journal Online - Featured Article (http://www.opinionjournal.com/editorial/feature.html?id=110008026)

and this one.
State legislators consider increasing income taxes on the wealthy - Los Angeles Times (http://www.latimes.com/business/la-me-taxes18-2008jul18,1,5979797.story)

[QUOTE=soonerguru;163667]Quality of life and the ability to hire well-educated workers are much more important to companies than tax issue.

Sooner you hit the nail on the head. Not long ago I was at a meeting where former Mayor Ron Norick spoke. Part of his talk was about OKC's attempt to lure the United Airlines facility to OKC several years ago. He said that after OKC submitted our financial package to United he received a call telling him that the company was very suprised and blown away by the incentives we were willing to give United. Several weeks later he received a second call telling him that United had chosen Indianapolis for their new location. Norick said he was devastated by the news and decided to fly up to Indy to check the city out since he had never been there. After he got there and took a tour he quickly realized why United chose to locate there. It was about "quality of life". Out of that trip grew the idea for MAPS.

Over the years I've talked with several business execs about why they decided to locate their businesses in certain locales. Three things are always mentioned. Quality of life, educated workforce and cost of doing business, usually in that order.

Well, I know of one city in particular that OKC could learn from on how to get more Fortune 500 companies, and that is Nashville. It is one of the fastest growing metros in the country and they just recently landed the Nissan headquarters from California. I believe they've had many Fortune 1000 companies locate there just in the past decade, as well as some Fortune 500. The argument for relocating a company to the middle of the country based on those top 3 reasons(quality of life, educated workforce, and cost of doing business) is proven in Nashville. OKC and Nashville are very similar in many ways. I lived there in the late 80's and it was about the same size as OKC at the time, but we were going through the oil bust and that city was in the beginnings of a long lasting boom. Nashville always touted itself as a central location based on how many people lived within a days drive. Plus, like OKC, they have 3 major interstate highways that crisscross the city. Nashville went from being just a city that everyone associated with country music and the printing industry, to a major metropolis that has a major league reputation in business and quality of life. It is the premier city in Tennessee, not Memphis. I really think OKC is headed in the same direction. I don't think it is far-fetched to say that OKC CAN land a few Fortune 500 companies in the not-too-distant future. We are the next Nashville, Charlotte, Austin, etc. I think our air traffic will also grow exponentially over the next decade thanks to our rapidly increasing popularity around the country. OKC will see unprecedented growth over the next decade. THINK 80'S oil boom without the bust.

We've been defined by energy, much like Detroit by auto's or Orlando by Disney.
We should be foresighted enough to realize that some buisinesses wildly succeed or eventually freefall.
That said, I'd like to see a sustainable development consulting firm HQ here in OKC, with branches in major cities across the nation, and even rural ones eventually.
It's unlikely to happen here though.

I agree...I live in Detroit and work in the auto industry, so many years the big three thought they had the world by the balls, and now look, we have the worst unemployment rate I do believe, last I checked and it's just a matter of time before I lose my job I know, to the leaders of OKC and Oklahoma, dont put all your eggs in one basket. Working in the field of the auto industry and hearing the inside information I hear every day try to attract hybrid battery companies, a123 systems is one growing company. Try to attract other companies other than oil related inustries. I am no college grad but common sense is way better than any degree.

I think the most obvious choice for a company to relocate to OKC that is the Gaylord Entertainment. They should have been here in the first place not Nashville. I think that could really set off a spark and show that OKC is the place to be. They could open a huge hotel and build a nice office building etc. As well as open a country music hall in the arts district.

I just thought I would throw that out there, after all we are supposed to be name dropping some companies to locate in OKC.

I agree...I live in Detroit and work in the auto industry, so many years the big three thought they had the world by the balls, and now look, we have the worst unemployment rate I do believe, last I checked and it's just a matter of time before I lose my job I know, to the leaders of OKC and Oklahoma, dont put all your eggs in one basket. Working in the field of the auto industry and hearing the inside information I hear every day try to attract hybrid battery companies, a123 systems is one growing company. Try to attract other companies other than oil related inustries. I am no college grad but common sense is way better than any degree.

I have brought up this issue before concerning jobs and HQ moving to OKC. What will happen when Oil and Gas plummets? Maybe it may not happen for years to come, however, if this were to happen again did OKC learn anything from the 80's oil bust. It seems no one wishes to discuss this? Are they afraid it may happen and then catch them off guard again? Will it be history repeats itself again? It seems like OKC's leaders have not done a good job on attracting Fortune 500 companies. Could it be due to being so close to Dallas? Just this year alone, Dallas has landed AT&T for their world headquarters. They have also landed Comerica bank holding company relocated to Dallas from Detroit.

Afraid to talk about it. It's been beaten to death. YES we need to diversify. No one his is disagreeing with you.


I think the most obvious choice for a company to relocate to OKC that is the Gaylord Entertainment. They should have been here in the first place not Nashville.

Why should they be based here when their properties are mostly in Nashville, and none are here?

I know I'm a bit late here, but what oklahoma can and should do is eliminate their corporate taxes. The consumers/employees are the ones who pay that corporate tax anyways, kidding ourselves thinking that the company is paying their share is absurd. Get rid of the corporate tax, make oklahoma a haven for corporations. It would give our educated people reason to stick around and it would give businesses a chance to relocate.

OUGradO5,

Are you familiar with the state's Quality Jobs program? It gives direct tax rebates to companies who locate here and provide new jobs. Our incentive packages are loaded to bear for the right companies (and expanding, home grown firms, as well). I'm not sure that's the panacea you might think it is.

As it stands now, we can compete with just about anyone for incentive packages and tax rebates. Where we struggle is quality of life and educated workforce. Without these, we aren't going to attract companies to locate here, period. Trust me, I know corporate site selectors and these are critical decisions, as are access to transportation, quality infrastructure, etc.

Everything else is folly. Don't get me wrong, Quality Jobs was a great idea, but it's limited as far as a relocation solution. Not to mention: virtually every state we compete against has similar incentives.

I see a lot of potential for Midfirst Bank to grow. They are expanding in Arizona now, and it seems they will surely be outgrowing their space on I-44 soon. Definitely seems they would move downtown if so.

They actually have two buildings ...3 grand the big white building with midfirst on it. They are growing but banks really don't pay very well..

One of the main reasons that companies don't like OK is the unemployment tax. (workers comp). There is a nice little secret that the state keeps under wraps. Compsource. It is what the "state" likes to call a "quasi" state agency. It makes huge money and you really never hear much about it. Same for Oklahoma Turnpike Auth. It is also a Quasi state agency. They both generate huge amounts of income but since they are not considered a true state agency then the money doesn't belong to you and I. They both have a board...CEO's and the like. Our state has some really great things to offer but if you owned a company what would make you relocate to OKC?

I have brought up this issue before concerning jobs and HQ moving to OKC. What will happen when Oil and Gas plummets? Maybe it may not happen for years to come, however, if this were to happen again did OKC learn anything from the 80's oil bust. It seems no one wishes to discuss this? Are they afraid it may happen and then catch them off guard again? Will it be history repeats itself again? It seems like OKC's leaders have not done a good job on attracting Fortune 500 companies. Could it be due to being so close to Dallas? Just this year alone, Dallas has landed AT&T for their world headquarters. They have also landed Comerica bank holding company relocated to Dallas from Detroit.


Yes we did lose Comerica, they were smart to leave Detroit. It's astonishing how many vacant buildings you see here now, and it all can basically be blamed on the big three, or the once big three. Sure at one time they made this town great, but their pompasness, if there is such a word ruined this town, and for that matter the state. What people dont realize is it trickles down all over the country. Guess what, if GM, or Ford were to shut down, Microsoft would be hurting. Dell would be hurting, people in these companies would be losing their jobs, and that would affect more than just Detroit. Sure the oil industry is picking up speed, but it will hit a wall someday.

I know I'm a bit late here, but what oklahoma can and should do is eliminate their corporate taxes.

Dubai corporate tax rate: 0%
Hong Kong corporate tax rate (Pre-china takeover): 0%

Enough said.

We are at a dangerous moment right now in the economy. There are going to be many bank failures and I don't know what the Big 3 will do to survive. The Fed is getting involved in areas they never did previously, trying to staunch the bleeding, but it's going to get ugly.

I hope to strike oil in my backyard and make it pretty big... When this happens you guys will be the first to know the name/logo/building renderings of my company