OKC Income growth

[Karried]

We're not doing too badly here:

bizjournals: Income growth for 100 largest metros 1

[CS_Mike]

Judging by the numbers, our ranking would be even higher if they only considered the last 15 years or so. I think that's even more promising. Our numbers are hampered by (comparatively) slower growth in the 80s.

[BDP]

Our numbers are hampered by (comparatively) slower growth in the 80s.

But it's also aided by a lower base. In the top 25, Only El Paso and Little Rock have lower per capita income than OKC.

It's still a good thing, though.

[CuatrodeMayo]

San Jose..ouch

New Orleans...double ouch. Even before Katrina.

[OU Adonis]

We still have a ways to go. We need some big time manufacturing to come to Oklahoma or some tech industries.

[BDP]

San Jose..ouch

Even after the drop, it's still has one of the highest per capita income rates.

New Orleans...double ouch. Even before Katrina.

And they don't have much room to go down in the first place, but with that base, their pecentages will probably look great in 10 years.

[soonerborn]

I wonder if OKC's figures aren't a little misleading due to the super incomes of a few of the oil execs at Chesapeake? Cash like that can definitely raise the average.

[HOT ROD]

well Im not so sure soonerorn if I agree with you. We have LOTS more super incomes here in the puget sound area and yet growth here isn't blown out-of-proportion considering that.

I think cities have wealthy and non-wealthy people which balances out in the end. Be thankful that you have the oil execs at Chesapeake, otherwise OKC probably would be below Jackson MS, Little Rock, Charleston SC, and El Paso (none of which are considered rich towns by comparison).

[jbrown84]

Every city is inflated by it's billionares.

[OU Adonis]

It won't make that much difference.

Here's some of the math I did.

Lets say you have 1.2 million in the metro and the average income is 32,000 (for simplicity sake)

If you suddenly remove 1,000 people that made 32k a year and replaced them with super rich oil guys who made 1,000,000 a year it only changes the average income by 800 bucks a year.

I really doubt there is 1k people from oil companies that make 1+ mil a year.

[jbrown84]

Not just oil companies, but I'm sure OKC has several thousand millionaires.

[OU Adonis]

Not just oil companies, but I'm sure OKC has several thousand millionaires.

There is a huge difference being a millionaire and making a million dollars a year.

Someone who makes 50k a year could be a millionaire.

[windowphobe]

And we've got three billionaires in the city, so far as I know: Ward and McClendon from Chesapeake, and Hobby Lobby's David Green.