Oklahoma City Economic Reports

[jonny d]

Rumor is their new giga truck factory is going to Texas. Maybe we can siphon some associated parts production here.

Oklahoma has neither the money nor the educated, competent workforce to be able to get any of these HQs to locate here, or a major factory. Kinda stinks that this state can't get out of its own way, while Texas keeps growing like a weed. Maybe they can buy Oklahoma. At least then maybe teachers would get a livable wage.

But yes, any benefit Oklahoma could get would be welcome.

[Mr. Blue Sky]

Rumor is their new giga truck factory is going to Texas. Maybe we can siphon some associated parts production here.

Remember though, with Elon you have to work your way through dozens of rumors before he decides on something. And then, the decision will change twice the day before the decision is final.

[ctchandler]

Johhny D,
Hertz has operated their business from Oklahoma City since 1971. Only sales and marketing and a small IT group remained in New York/New Jersey (which recently moved to Florida). There are others but to say "educated or competent" is not correct.
C. T.

[josh]

Elon is manic who needs to give tweeting a rest. He’s not moving the Tesla HQ out of California.

[mugofbeer]

Oklahoma has neither the money nor the educated, competent workforce to be able to get any of these HQs to locate here, or a major factory. Kinda stinks that this state can't get out of its own way, while Texas keeps growing like a weed. Maybe they can buy Oklahoma. At least then maybe teachers would get a livable wage.

But yes, any benefit Oklahoma could get would be welcome.

Yeah, all those toothless, knee-slappin' doctors, geologists, chemists and engineers that fill the oil & gas, aerospace and medical industries aren't educated or competent.

Oklahoma is just unfortunate to sit next to the business vaccuum cleaner of Texas.

[jonny d]

Yeah, all those toothless, knee-slappin' doctors, geologists, chemists and engineers that fill the oil & gas, aerospace and medical industries aren't educated or competent.

Oklahoma is just unfortunate to sit next to the business vaccuum cleaner of Texas.

Hey, our education rankings say otherwise. I know so many great teachers who are fed up with education being the first thing legislature cuts, and have moved on to greener pastures.

If you don't think that matters in terms of corporate relocations, I don't know what to tell you.

[mugofbeer]

Hey, our education rankings say otherwise. I know so many great teachers who are fed up with education being the first thing legislature cuts, and have moved on to greener pastures.

If you don't think that matters in terms of corporate relocations, I don't know what to tell you.

You make a good point but I think the tens to hundreds of millions in economic incentives Texas will offer Tesla will mean a lot more. If Reno, NV has enough to staff the gigafactory, Oklahoma has plenty of educated and competent people for one or an assembly plant. But even to Elon Musk, money talks.

[gopokes88]

He threatened to move the HQ. which is basically the C-Suite moving to Austin where they already have operations.

It’s a threat to California to let him open back up.

[gopokes88]

https://www.wsj.com/articles/trump-a...103002?mod=mhp

Now that’s something the state can go after.

[OKC Guy]

What we need is a dedicated task force to acquire businesses moving out of China as we decouple some of our critical manufacturing. For instance a majority of meds come from China and we need to make a play for them. My guess is the Feds will assist in this but we need a task force solely dedicated to this to get an early head start.

[Bunty]

Would be a huge game changer. Tesla is the biggest manufacturer in California & second biggest exporter

GM didn't want to stay in Oklahoma even though it passed Right to Work, proving overwhelmingly well that Right to Work doesn't work. I don't know if Tesla would want to come even if Oklahoma abolished income tax. Doing that is also pie in the sky.

The state not taking support of education seriously enough also doesn't help matters. We're better off trying to grow industry and business ideas from within and send entrepreneurs of them to the sharks on CNBC. But coming up with outstanding business ideas for this modern day, advanced world requires good education.

[Bunty]

What we need is a dedicated task force to acquire businesses moving out of China as we decouple some of our critical manufacturing. For instance a majority of meds come from China and we need to make a play for them. My guess is the Feds will assist in this but we need a task force solely dedicated to this to get an early head start.

Unless there is a heck of a lot more corporate welfare granted, I don't see that happening as it will be cheaper moving someplace else, such as Vietnam or Latin America. In Mexico, the minimum wage is still under $1 an hour.

[king183]

Jonny D is unfortunately correct. We have a severe shortage of educated and trained labor due to our education system and how our particular culture values education. Companies looking at Oklahoma consistently cite our poorly educated workforce as a reason for not moving here. Ask anyone at the Dept. of Commerce or the Chamber; they’ve lost a lot of deals because of it.

Similar to what OKC did with MAPS and infrastructure we need to demonstrate a massive commitment to valuing education and training our workforce before we are able to attract the types of companies we are referring to in this thread. The moment we do that, companies will start taking us seriously. But better yet, perhaps we’ll start seeing a larger number of homegrown businesses that grow to be Fortune 500.

So we can either continue down our current path of not valuing education and workforce training and be happy with Texas’s scraps or we can actually start competing with them.

[Bunty]

https://www.wsj.com/articles/trump-a...103002?mod=mhp

Now that’s something the state can go after.

Only manufacturing that requires few workers will look possibly attractive. Maybe chip making is it.

[gopokes88]

Only manufacturing that requires few workers will look possibly attractive. Maybe chip making is it.

Lol. An Intel Fab employs 2,000 and needs to be overhauled every 5-7 years and it takes 2 billion in capex.

It would be a boom for Oklahoma if they can land an Intel fab.

[Bunty]

Lol. An Intel Fab employs 2,000 and needs to be overhauled every 5-7 years and it takes 2 billion in capex.

It would be a boom for Oklahoma if they can land an Intel fab.

Who knows how many thousands more people Intel employed in the past that it doesn't need now? 2000 workers could in the future end up as 1000.

Oklahoma has Right to Work. Oklahoma minimum wage is $7.25, quite unlike in Colorado where its $12. What is it always lacking though? Educated workers and high quality of life. Cheap does as cheap is.

[Jersey Boss]

Unless there is a heck of a lot more corporate welfare granted, I don't see that happening as it will be cheaper moving someplace else, such as Vietnam or Latin America. In Mexico, the minimum wage is still under $1 an hour.

Or Japan or Europe where the workforce is provided healthcare with no involvement of the corporation.

[mugofbeer]

GM didn't want to stay in Oklahoma even though it passed Right to Work, proving overwhelmingly well that Right to Work doesn't work. I don't know if Tesla would want to come even if Oklahoma abolished income tax. Doing that is also pie in the sky.

The state not taking support of education seriously enough also doesn't help matters. We're better off trying to grow industry and business ideas from within and send entrepreneurs of them to the sharks on CNBC. But coming up with outstanding business ideas for this modern day, advanced world requires good education.

In all fairness, GM left OKC because of 1. Economic conditions and 2. Oklahoma had provided a significant economic package that the state had to renig on after the plant was built and operational due to a lawsuit involving tax abatement and ad valorem tax imposition for re-equiping the plant.

I'm not sure this would affect Tesla anymore but the financial incentives Texas could offer would be unreachable by OK.

[Plutonic Panda]

An Assemblywoman out of San Diego area took to Twitter and posted “F@ck Elon.”

Unreal.

[mugofbeer]

An Assemblywoman out of San Diego area took to Twitter and posted “F@ck Elon.”

Unreal.

Hey, let CA drive him out. Hundreds of companies are leaving due to their tax requirements.

[dcsooner]

Jonny D is unfortunately correct. We have a severe shortage of educated and trained labor due to our education system and how our particular culture values education. Companies looking at Oklahoma consistently cite our poorly educated workforce as a reason for not moving here. Ask anyone at the Dept. of Commerce or the Chamber; they’ve lost a lot of deals because of it.

Similar to what OKC did with MAPS and infrastructure we need to demonstrate a massive commitment to valuing education and training our workforce before we are able to attract the types of companies we are referring to in this thread. The moment we do that, companies will start taking us seriously. But better yet, perhaps we’ll start seeing a larger number of homegrown businesses that grow to be Fortune 500.

So we can either continue down our current path of not valuing education and workforce training and be happy with Texas’s scraps or we can actually start competing with them.

+!00

[Ronnie Jackson]

I’m not really in Tesla’s target market (I like my to feel the power band, hear shift changes, etc.), but I wouldn’t hate to see us land a few green energy jobs here and there if the deal structures are right.

[HOT ROD]

Oklahoma may not have a shot or realistic chance, but that doesn't mean Oklahoma shouldn't try so you can be on the radar for that which does return.

And I disagree with the opinion that jobs would just move from China to lower wage foreign centers (Vietnam, PI, etc). Sure, some will and many already have. But, the coronavirus has really opened everyone's eyes beyond the tariffs and trade war - that it's not sustainable just being the world's #1 consumer - It does make sense to have production here for a variety of reasons, such as brand loyalty, removal of barriers, and to ensure product/patent protection. These three have killed nearly every multinational business not named Microsoft, and even here - we don't have any significant benefit anymore other than realizing the sunk costs in building plants in China then figuring out if it still makes sense to be in that business itself. Labor cost is no longer the # cost driver and this will continue to be proven.

The CCP really showed who they are - a bunch of thugs, criminals the world can do without. No reason companies shouldn't diversify the supply chain with significant return home. It won't be like before, since most of these plants returning will be heavily automated. But it's still more than what we have and it's already happening, and likely will expedite very significantly after Trump (and the world) levels charges against the CCP.

There was a snicker about the Costco expansion in OKC. I don't think people really appreciate back office ops - This is significant and likely might could have gone overseas if we didn't have the eye awakening or just stayed in WA where Costco is hq.

Get what you can OKC, show up to the table and put your best foot forward!

[but I do agree the state needs to quit f-ing with Education and allow cities some of the property tax revenue - would really go a long way to assisting OKC with relocation]

[Plutonic Panda]

^^^ great post and points! Even if there is a 1% chance we get this we should try. The defeatist mentality is ridiculous.

[Bunty]

Jonny D is unfortunately correct. We have a severe shortage of educated and trained labor due to our education system and how our particular culture values education. Companies looking at Oklahoma consistently cite our poorly educated workforce as a reason for not moving here. Ask anyone at the Dept. of Commerce or the Chamber; they’ve lost a lot of deals because of it.

Similar to what OKC did with MAPS and infrastructure we need to demonstrate a massive commitment to valuing education and training our workforce before we are able to attract the types of companies we are referring to in this thread. The moment we do that, companies will start taking us seriously. But better yet, perhaps we’ll start seeing a larger number of homegrown businesses that grow to be Fortune 500.

So we can either continue down our current path of not valuing education and workforce training and be happy with Texas’s scraps or we can actually start competing with them.

The defeat of the 1 cent rise in states sales tax was a reflection of how state culture values education. Later, I thought it looked strange how legislators had to resort to putting 3 cents a gallon on gasoline to better fund education. I think if you buy gas all the taxes on it should go to maintain and improve the highway system. On second thought, if gas prices are projected to stay under $2 a gallon, maybe tax on it should be raised another 3 cents for education.

Right, as I mentioned, more emphasis should be put on starting home grown businesses. Oklahoma isn't very attractive for large companies to come to, due to no airports having non-stop international destinations. Texas does that well. The situation can be more than just lack of devotion to education. Doesn't Kansas support education better than Oklahoma? Yet, that state is barely growing in population.