Tulsa and Oklahoma City See Growth in ’09 Ranking

Author:	Homes Discovered
Source:	Milliken Institute
Date:	December 20, 2009

Fewer job losses, lower foreclosure rates and benefits gained from the energy sector are some factors that helped both the Oklahoma City and Tulsa metro areas rise in their rankings on the Milken Institute’s Best-Performing Cities 2009 index. The Tulsa area jumped to No. 19 from No. 72 last year in the ranking of the nation’s 200 largest metro areas.  Oklahoma City climbed to No. 26 from No. 50. The index which ranks metros based on their ability to create and sustain jobs, ranks 200 of the largest and 124 o the smallest metro areas.  The report is compiled with the help of Greenstreet Real Estate Partners. Tulsa saw its tech sector grow a bit during the five-year period from 2003 to 2008, and also during the one-year period from 2007 to 2008. Tech-related expenditures are one of the first things companies drop when they don’t have capital to spend.  The fact that Tulsa remained relatively stable in this area is important and impressive. Oklahoma City’s tech sector has also been growing significantly, with the Presbyterian Health Foundation Research Park alone generating more than $93 million to the local economy, according to a 2008 report. Over the past couple of years, both the Tulsa and Oklahoma City areas have also benefited from the energy sector.   Texas claimed four of the top five spots in the ranking of the largest metros, led by Austin-Round Rock at No. 1.

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