Oklahoma City Ranked #1 For Small Business Startups; Tulsa #19 Among Midsize Metros

October 14, 2009 - Fortune magazine and CNNMoney.com have ranked Oklahoma City No. 1 among large metro areas for small business startups, while and Tulsa No. 19 among midsize metro areas.

The publications describe Oklahoma City as "stable and affordable," boasting the second lowest foreclosure rate among large U.S. metro areas and the second lowest median rent.

Oklahoma City also benefits from a high concentration of deep-pocketed local investors, many of them veterans of the oil and gas industry, who are willing to take a gamble on companies that might spend 10 years bringing a new product to fruition, according to both sources.

Oklahoma City is also cited as being friendly to life-science startups including funding the 1996 construction of the Presbyterian Health Foundation Research Park. The complex -- 700,000 square feet of space in seven buildings on a 27-acre site - includes several biomedical firms.

"When you get accolade after accolade, people look at that and see Oklahoma City is not a flash in the pan," Roy Williams, President and Chief Executive of the Greater Oklahoma City Chamber, tells The Oklahoman. "Something's happening here."

Tulsa Receives High Marks
CNNMoney.com says Tulsa's pro-business environment attracts entrepreneurs along with Oklahoma's tax incentives, low startup costs, and friendly citizens.

The state's tax structure is credited with encouraging businesses to launch and grow in the state.

Other advantages include Tulsa's low cost of living which helps entrepreneurs looking to settle down and start a family.

Sean Griffin, Chairman of the Tulsa Entrepreneurial Spirit Award, tells the Tulsa World the Tulsa area has become more attractive for prospective business owners in recent years.

"Tulsa is proving to be an ideal location to launch a business," Griffin tells the World.

Oklahoma City and Tulsa Receive Consistent High Marks for Business and Cost of Living
Other recent national recognition includes Business Facilities magazine ranking Tulsa No. 1 for cost of living and No. 2 for quality of life for 2009. Oklahoma City was ranked No. 7 for economic growth.

The Brookings Institution ranked Oklahoma City No. 2 and Tulsa No. 9 as strongest cities during the recession.