Oklahoma City Economic Reports

[oklip955]

Just my 2 cents, as far as raising the income tax (like why in the world did we cut it in the first place when things were already tight) the more you make the more you pay. If you find yourself in the situation of a pay cut, then your taxes go down. If you have your property tax go way up and then take a bit of a pay cut, you'll be looking to lose or having to sell your home. I'm retired but not a true senior citizen. Ok, I'm over 55 but under 65. Most tax breaks for retires happen after you turn 65. I've developed some health issues that preclude my going back to work. ( I have my good days and by bad days) If my property tax went way up, I'd be forced into a far less expensive house just due to taxes.

[Bunty]

Just my 2 cents, as far as raising the income tax (like why in the world did we cut it in the first place when things were already tight) the more you make the more you pay. If you find yourself in the situation of a pay cut, then your taxes go down. If you have your property tax go way up and then take a bit of a pay cut, you'll be looking to lose or having to sell your home. I'm retired but not a true senior citizen. Ok, I'm over 55 but under 65. Most tax breaks for retires happen after you turn 65. I've developed some health issues that preclude my going back to work. ( I have my good days and by bad days) If my property tax went way up, I'd be forced into a far less expensive house just due to taxes.

Republicans who voted for tax cuts and tax incentives said those actions were needed, so Oklahoma could attract more industry from outside the state. That didn't work out very well. Apparently, industry is looking for more advantages than tax bribes. Advantages Oklahoma doesn't have.

[Plutonic Panda]

Oklahoma City is rising and beginning to beat out of all its peers. We are ahead of Jacksonville, Memphis, and Louisville.

http://usmayors.org/metroeconomies/0616/report.pdf

[warreng88]

Edmond housing starts drop 26 percent

By: Molly M. Fleming The Journal Record December 16, 2016

EDMOND – The number of new home permits issued has dropped 26 percent so far this year, according to city records. The most recent data ends in October.

Homebuilder Caleb McCaleb said his company, McCaleb Homes, saw a 10-percent decline in its work this year.

“Basically, we had a lot of people in the energy sector – when the oil was $30 to $40 a barrel – that just quit buying,” he said. “The positive at the end of the year is that the price per barrel of oil has had pretty steep increases. We’re seeing the energy sector buyers back on the market.”

McCaleb said the decline isn’t only in Edmond. Metrowide, new home starts are down 20 percent compared to this time last year.

In Edmond, there were 637 residential building permits issued in 2013, which was the highest number in the last five years. By comparison, only 340 permits have been issued to date this year.

Re/Max Associates Realtor Brian Preston said the decline in home starts isn’t necessarily a problem for the real estate market. He said sales haven’t matched the rate that new homes have come online.

“New home sales are down 19 percent,” he said. “When you have a large inventory, and then a decrease in sales, you don’t need inventory. You need to quit building.”

Home sales are down only 4.5 percent, he said. Preston said he couldn’t explain why more people are buying previously owned homes instead of new products.

Builder Tom French with French Construction said it’s been a slow year for his business as well. He said he thinks the low oil prices and the election have slowed people’s interest. But once the election was over, his phone started ringing again.

“Most of my stuff is $450,000 and up,” he said. “I’ve got friends building in the $250,000 range and they’re really slow. It’s been a crazy year, for sure.”

French said there’s been a decline in large home developments in Edmond as well. But with inventory not moving quickly, it’s hard to motivate anyway to start something new, Preston said.

He said he expects sales activity to pick back up next year.

“We needed this correction because we had a high supply, and on top of that, demand was down,” he said. “But I’m an optimist. I see the glass as half full. I’m a doer and I’m looking for a refill.”

[Plutonic Panda]

[gopokes88]

3rd straight month of sales tax growth.

http://m.newsok.com/article/5567702

[Plutonic Panda]

http://newsok.com/sales-tax-up-for-s...rticle/5571668

[Plutonic Panda]

http://journalrecord.com/2018/01/24/...form=hootsuite

[dcsooner]

http://journalrecord.com/2018/01/24/...form=hootsuite

Meh, Let me know when official announcements are made, until then I will remain skeptical. OKC has little history of incoming Corporate relocations.

[Plutonic Panda]

I think OKC is really close but the state is f@cking the city in its ass and I think that is what will hinder progress.

[Urbanized]

Meh, Let me know when official announcements are made, until then I will remain skeptical. OKC has little history of incoming Corporate relocations.

You didn’t even have to post this. We all could have just inferred your position.

[Thomas Vu]

I think we've all been here long enough to where we know what everybody will generally think.

[Ross MacLochness]

http://kfor.com/2018/01/26/aerospace...officials-say/

[chuck5815]

Maybe it's SpaceX?

[Bellaboo]

Meh, Let me know when official announcements are made, until then I will remain skeptical. OKC has little history of incoming Corporate relocations.

Something today at 1:00 pm. My guess (and it's just a guess) is Northrup Gruman moving engineers to OKC........

I'm pretty sure this is Northrup.

[king183]

Something today at 1:00 pm. My guess (and it's just a guess) is Northrup Gruman moving engineers to OKC........

I'm pretty sure this is Northrup.

Yeah, I'm also pretty sure it NG. There's been a lot of buzz about them recently in OKC and their reps have been visiting the state more over the last year.

[catch22]

Roy Williams says will result in a complete aircraft being built in OKC. I think that is more significant than moving engineers here.

Lockheed Martin is my guess.

[T. Jamison]

Neither Northrup Gruman nor Lockheed Martin are California-based.

[GaryOKC6]

So far all the guesses are wrong. Stay tuned. You will all know in 30 minutes!

[king183]

So far all the guesses are wrong. Stay tuned. You will all know in 30 minutes!

Nice! Looking forward to it.

Perhaps NG will still be moving (or expanding some operations here at some point too. I've heard a lot of rumblings about them looking to get a presence here.

[king183]

Kratos. Interesting.

They are a relatively small or mid sized company, but they have a lot of potential to grow. If they’re going to do it, I’m glad it will partially be in Oklahoma. This is a good get, especially for our workforce.

[Bellaboo]

Didn't see this one coming. Good get though, maybe they will be building drones for the military ?

Administrative offices will be established too.

[catch22]

Sounds good, although I would hesitate to call them a tier-one aerospace company. Boeing, Bombardier, Textron, Lockheed etc. are definitely tier-one.

This announcement plus SkyWest will add about 700 new aerospace jobs in the next few years. Good for OKC.

[CloudDeckMedia]

The Oklahoma Aerospace and Autonomous Systems Council is working to bring companies like this to Oklahoma, in manufacturing, R&D, civilian, military, aerial, terrestrial and aquatic. I serve on that council, led by Oklahoma Secretary of Science & Technology Kelvin Droegemeier. In the future when semi- and fully-autonomous 18-wheelers are driving coast-to-coast, we’ll have a compatible road system ready for them. When someone needs a license to operate those vehicles, we’ll be ready. When Oklahoma utility companies want to patrol their networks with aerial drones flying beyond visual line of sight (BVLOS), they’ll be licensed, trained and experienced.

You’ll be happy to know we’re already working on these things.

[Jake]

Not Amazon or a tech company, so it sucks. More evidence that OKC is behind the times. /s