G. Scott Thomas of The Business Journal reports that Oklahoma City has resumed it's position in the top spot for economic rankings. His article states that after the January index it will regain the top spot at the county's leader in economic development. Austin Texas will drop back to the number two position in a report that measures relative economic development. G. Scott Thomas is quoted from his article titled Oklahoma City pops back to No. 1 slot in economic rankings saying.
"The On Numbers Economic Index measures the relative vitality of all 102 major markets with populations of more than 500,000."
Oklahoma City has held first place for five of six months since the index was launched last August, thanks to its broad-based economic strength:
- It's among just four markets that have unemployment rates of 4.5 percent or lower.
- The number of private-sector jobs in Oklahoma City has grown by 3.5 percent in the past half-decade. That's the fourth-biggest increase in America.
- Local retail employment has soared by a nation-leading 7.2 percent over the same span.
- Home values have increased in just 12 of 102 markets since 2007. That includes Oklahoma City's gain of 2.4 percent.
His article goes on to explain that there is an 18 step formula to determine how the ranking is done. It is based not only on job growth but also on retail strength as well. McCaleb Homes is proud to build new homes in OKC and is thrilled about this excellent economic news. Oklahoma City has a business friendly environment making it an attractive city for relocation.