50 in 50: Oklahoma

50 in 50: Oklahoma

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $195.1 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): -0.3% (U.S: 1.6%)

GDP per capita: $49,873 (U.S.: $58,154)

Population: 4.0 million

Population 5-year CAGR (2017-2021): 0.3% (U.S.: 0.5%)

Unemployment: 3.0% (U.S.: 3.9%)

Economic outlook ranking: #4 out of 50

Fiscal health ranking: #19 out of 50

Overall tax climate ranking: #26 out of 50 

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top three metro areas by GDP:

• Oklahoma City
• Tulsa
• Lawton

Top three metro areas by population 5-year CAGR (2016-2020):

• Oklahoma City
• Tulsa
• Lawton

Infrastructure Highlights

Infrastructure:

Back in 2004, federal transportation officials pointed out severe issues with Oklahoma’s bridge conditions, and since then, state officials have been investing capital to improve safety on these structures. The new bridge program from the Bipartisan Infrastructure Law (BIL) will not require a state match, which will help to repair and replace off-system bridges. ODOT has identified more than 300 projects as part of an eight-year plan to improve its transportation infrastructure. Additionally, Oklahoma is looking to continue investing in resiliency projects to minimize impact of flooding, heat, and water quality in certain communities. Over the next five years, Oklahoma’s BIL funds will address the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential 2021 CPiP: $4.0 billion; 0.8% 5-year CAGR (2017-2021), below overall U.S. CAGR of 1.4%
• State & Local 2021 CPiP: $3.8 billion; -2.9% 5-year CAGR (2017-2021), below overall U.S. CAGR of 4.0%

AE Industry

ENR 500 firm headquarters (2022): 2

M&A activity since 2018:

• 10 deals with buyers from Oklahoma
• 11 deals with sellers from Oklahoma

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.