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.
Cost of Doing Business Rankings Oklahoma offers some of the most competitive business costs in the country. This document includes the following tables: Cost of Doing Business Rankings; Pro-Business State Rankings; and Business Cost Comparisons with Other Cities.
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Cost of Doing Business Rankings
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
Pro-Business State Rankings
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
Business Cost Comparisons With Other Cities
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.
Overview of Oklahoma's Corporate Tax Structure
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.
$1.25 per $1,000
Zero if tax is $10 or less
