Tulsa Business And Economy
 

The Tulsa economy has performed well in 2008, despite problems nationwide, which were brought on by the mortgage/housing crisis. Although Tulsa’s economy was hardly affected directly by the mortgage and housing crisis, it has been affected indirectly by tighter lending practices to consumers and businesses. Also the negative impact of higher energy prices on everyone has been partially offset in Oklahoma and Tulsa due to the large concentration of energy production businesses. 

The Tulsa economy performed better than the U.S. economy in 2008 and is projected to continue to perform better than the U.S. in 2009. 

Quality of Life: 

In 2008 Tulsa had a projected population of 906,870 and a total number of households at 354,221. The average household income is $59,776, up more then $10,000 from the average in 2000, which was $49,597. 

Of the population in 2008, 74.5% were White, 8.7% Black, 1.4% Asian, 7.3% Hispanic, and 5.5% American Indian. 49.1% of the population is male and 50.9% of the population is female.
 

Housing Market and Cost of Living: 

Unlike most areas in the United States where housing prices have risen disproportionately fast compared to personal income, Tulsa income and home prices have grown steadily together throughout the most recent expansion from 2004 to now. 

As of January 2009, the price of a new, 4-bedroom, 2-bath, 2,400 sq. ft. home averaged $205,847, while the rent on a 950 sq. ft. 2-bedroom, 2-bath apartment averaged $580 per month. Monthly residential energy costs are averaging around $149.45 per month, and are changing monthly due to climate changes.  

The average selling price for single-family home in Tulsa is $157,667 over the first eight months of 2008, up 2.8 percent over the same period a year earlier. Tulsa-area home prices are expected to rise between 2.0 percent and 3.0 percent in 2009; however, Tulsa still holds the lowest cost of living in the housing category in comparison to many of the major surrounding cities such as Kansas City, Dallas, and Oklahoma City.
 

Education: 

Many higher education institutions have been expanding in Oklahoma to accommodate the rising number of high school students seeking higher education. After the 2007-2008 school year Tulsa Public Schools had 1,820 high school graduates and 60% of those students were seeking higher education. Tulsa public schools are averaging $7,060 in spending per student ever year and the student teacher ratio is currently 16:1. 

As for Tulsa County Schools, there are 13 independent and 2 dependent school districts including Bixby, Broken Arrow, Owasso, Jenks, Sapulpa, and Union. The student population in all of these is 109,060 with 8,115 certified staff and 6,039 support staff. 

Average teacher salary - $37,075 (bachelor degree) $46,226 (masters degree) and $54,765 (doctorate) 

Higher education institutions in the Tulsa area include Oral Roberts University, Tulsa Community College, OSU Tulsa, OU Tulsa, Northeastern State University, and The University of Tulsa. For the 2008-2009 school year, each of these institutions posted a budget in accordance to number of enrolled students and number of faculty and staff. Oral Roberts has a budget of $91,756,009 for 3,067 students and 292 faculty and staff members. Tulsa Community College has a budget of $108,399,674 for 24,665 students and 1,066 faculty and staff members. And The University of Tulsa has a budget of $150,000,000 for 4,192 students and 309 faculty and staff members.
 

Businesses: 

The largest employers in 2009 with more than 1,000 employees and are headquartered here in Tulsa include: 

Aaon
Bank of Oklahoma
Blue Cross & Blue Shield
Broken Arrow Public Schools
Cherokee Casino Resort
Hillcrest Healthcare System
Jenks Public Schools
NORDAM Group
Oneok
Owasso Public Schools
Public Service Co. of Oklahoma
QuikTrip Corporation
Reasor’s Foods
Saint Francis Hospital
Southcrest Hospital
St. John Medical Center
Tulsa Commuity College
Tulsa Public Schools
The City of Tulsa
The County of Tulsa
Union Public Schools
University of Tulsa
Williams Companies 

A lot of the reason why people are choosing to work for these companies is because they offer a number of incentives which include Quality Jobs Programs, Employee Training, Income Tax Credits/Exclusions, Financing, and Indian Lands & Employment Tax Credits. 

Tulsa has a number of financial institutions that are headquartered in Tulsa including 42 banks and 29 S&L/Credit Unions. There are also a number of clubs and organizations in Tulsa, which include business/professional, civic/service, cultural, educational, and special interest. 

New industries that have started in Tulsa in the last year include, Verizon Wireless and their network operation center, Sooner Packaging, and Rolled Alloys with their new metal service center. Companies that are expanding into Tulsa include Whirlpool with electric and gas ranges, Continental Industries, Dish Network and their customer service, Aaon with heating and cooling units, and Helicomb International with Aerospace components. 

Healthcare: 

As of 2009 in Tulsa and its surrounding areas there are 1,601 physicians, 485 dentists, and 108 medical clinics. Hospitals include Hillcrest Medical Center, Saint Francis Hospital, St. John Medical Center, and SouthCrest Hospital. 

(All information provided by the Tulsa Metro Chamber) 

Tulsa is a city that is growing ever year, where the economy is fairly stable, and the quality of life high. If you have any questions about what is going on in Tulsa, feel free to fill out the following form with any questions or comments you may have and we will get back to you as soon as possible.