TULSA, Okla. — The Tulsa Regional Chamber welcomed several big companies to Tulsa in 2023 and celebrated many economic gains the area made during its annual "State of The Economy & Tulsa's Future" luncheon at the Tulsa Renaissance Hotel.
This year's annual meeting offered success stories from numerous companies that now call Tulsa one of their homes, like aerospace specialists Expleo USA and the solar tech company 3SUNUSA.
Tulsa Regional Chamber Senior Vice President Arthur Jackson said this growth makes Tulsa a diverse economic hub.
"I remember getting to Tulsa a few years ago," Jackson said. "That would be unheard of to have a tech company relocate from a city like Austin. We've also had other headquarters relocations throughout the year, technology companies coming from Seattle (and others)."
Economist Mark Snead, PhD of Oklahoma City-based RegionTrack reviewed the latest numbers compiled by his office and the U.S. Department of Labor, and while most trends show a strong Tulsa metro area economy up to 2023, the future might not be as positive.
"Conditions are strong, but they're clearly slowing," Snead said. "You can thank the Federal Reserve for most of that. They continue to put pressure on most businesses with higher interest rates. So, strong conditions slowing. We expect them to slow throughout 2024."
Jackson said no matter what the future holds, Tulsa has an advantage.
"We all talk about workforce, talent, labor shortage. Human capital is really the essence driving economic development projects right now," Arthur said.
"As long as we continue to have that upward trajectory and momentum and population growth, you will continue to see companies expand and relocate here in northeast Oklahoma."
The other part of the luncheon discussed future business developments.
The chamber listed as many as 15 companies it expects to be building in or relocating to Tulsa in the next couple of years.
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