Oklahoma Is Wind Energy: Business Costs
Oklahoma's overall cost of doing business consistently ranks among the lowest in the nation. Labor costs and industrial electric rates are also both well below the national average. And, our overall tax burden ranks among the lowest in the country.
Contact: 800-588-5959 or email OKwind@OKcommerce.gov for specific cost of doing business information for your company.
A downloadable version of the charts below can be found in Documents.
|
|
Cost of Doing Business | Workforce |
|
Oklahoma |
8 | 9 |
|
Texas |
27 | 7 |
|
Kansas |
24 | 14 |
|
Illinois |
44 | 47 |
|
California |
48 | 33 |
|
New Jersey |
45 | 40 |
|
Alabama |
16 | 31 |
|
Connecticut |
47 | 44 |
Oklahoma is ranked eighth best in the nation for overall cost of doing business, and ninth best in the nation in workforce, as well as programs to train the workers.
Source: CNBC: America's Top States for Business, July 2007
| Overall | Ranking for Stage 2 | |
|
Oklahoma |
20 | 7 |
|
Texas |
31 | * |
|
Kansas |
10 | 10 |
|
Illinois |
42 | * |
|
California |
50 | * |
|
New Jersey |
43 | * |
|
Alabama |
8 | 9 |
|
Connecticut |
24 | * |
Oklahoma is ranked 20th overall in Pollina's pro-business rankings. Of these states, it is the best in Stage II, Incentive and Economic Development Agency Factors (*not in the top 10) Source: Pollina Corporate Top 10 Pro-Business States for 2008, Pollina Corporate Real Estate
| Electric 1000kw/40MWH | Natural Gas/100 sf | Construction Index | Industrial Building sf | Base Industrial Lease/sf* | Land Costs/acre | |
|
US Avg. |
$21,979 | $8.48 | 100.00 | N/A | N/A | N/A |
|
Charlotte |
$21,762 | $9.66 | 81.1 | $51.69 | $4.75 | $100,00 |
|
Chicago |
$45,566 | $9.59 | 116.40 | $80.65 | $4.50 | $237,500 |
|
Dallas |
$40,800 | $7.88 | 86.50 | $55.92 | $3.50 | $152,500 |
|
Greenville |
$22,753 | $9.35 | 79.60 | $50.41 | $4.63 | $56,000 |
|
Kansas City |
$23,090 | $11.11 | 105.70 | $70.70 | $3.75 | $183,000 |
|
Little Rock |
$27,204 | $9.15 | 86.90 | $57.22 | $3.45 | $65,340 |
|
OKC |
$22,817 | $8.61 | 84.10 | $55.08 | $4.25 | $117,500 |
|
Tulsa |
$23,713 | $8.61 | 81.50 | $52.13 | $3.00 | $95,000 |
Source: Edison Electric Institute 2006; Means Construction Index 2008 and building costs; MetroComp; NAI Market Research 2008. *Base Industrial Lease rates are averages for each metro area. One story factory building (50,000sf), 20' ceiling, concrete/steel frame with standard union labor used for costs. Land located in industrial park.
| Title | US Avg. | OK | MO | NC | TX | WI | IL | KS |
|
All Occupations |
$40,690 | $33,720 | $37,240 | $36,900 | $37,880 | $38,070 | $43,050 | $36,300 |
|
Computer/Information Systems Managers |
$113,880 | $84,210 | $97,230 | $110,350 | $114,450 | $95,160 | $108,240 | $94,750 |
|
Accountants/Auditors |
$63,180 | $50,670 | $56,760 | $59,470 | $61,370 | $60,530 | $66,210 | $54,780 |
|
Database Administrators |
$70,260 | $58,230 | $57,280 | $68,900 | $67,600 | $65,510 | $72,940 | $61,140 |
|
Electrical Engineers |
$82,090 | $66,990 | $77,180 | $75,290 | $88,470 | $79,830 | $81,030 | $72,780 |
|
Mechanical Engineers |
$75,130 | $70,690 | $69,640 | $67,240 | $82,710 | $65,520 | $69,090 | $68,210 |
|
Sales Reps, Wholesale and Mfg, Tech./Scientific Products |
$76,460 | $59,410 | $73,730 | $61,590 | $76,240 | $77,100 | $73,450 | $72,060 |
|
First-Line Supervisors, Managers of Production/Operations |
$51,740 | $47,700 | $50,300 | $47,900 | $50,260 | $51,850 | $54,590 | $48,220 |
Source: Bureau of Labor Statistics, SOC data, May, 2007.
|
Type |
Base or Measure |
Rate |
Administering Agency |
|
Corporate Income Tax |
Net Income |
6% |
Oklahoma Tax Commission |
|
Franchise Tax |
Capital employed to produce state income tax |
$10-$20,000 max. |
Oklahoma Tax Commission |
|
State Sales and Use Tax |
Receipts from Sales/Use of taxable items |
4.50% |
Oklahoma Tax Commission |
|
Local Sales and Use Tax |
Receipts from Sales/Use of taxable items |
Approx. 3% County/City |
Oklahoma Tax Commission |
|
Unemployment Insurance Tax |
Wages to approximately $14,300 |
3-9.2% |
Oklahoma Employment Security Commission |
|
Workers' Compensation Insurance |
Payroll and Occupation |
Variable |
Workers' Compensation Court |
|
Personal Income Tax |
Taxable Income |
5.65% max |
Oklahoma Tax Commission |
|
Local Property Tax |
Valuation of Property |
Approx. 1% of Value |
County Assessor |
Led by Oklahoma Secretary of Commerce and Tourism Natalie Shirley, the Oklahoma Department of Commerce is the primary economic development entity in the state. Our mission is to increase the quantity and quality of jobs in Oklahoma. We do that by attracting and growing businesses, building strong communities, encouraging the growth of knowledge-based industries, and ensuring an available, skilled workforce.
Get Directions to Oklahoma City Office
Get Directions to Tulsa Office
900 North Stiles Ave.
Oklahoma City, Ok 73104
405-815-6552
800-879-6552
700 N Greenwood Ave Suite 1400
Tulsa, Ok 74106
918-594-8116
800-879-6552
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