Oklahoma had some bright spots, ranking in the top five in the relative cost of living in the state and in the cost of doing business within its borders.
The state also finished relatively well for infrastructure — one of the survey’s top-weighted categories — at 20th, better than several surrounding states, including Texas.That is a reflection of years of focus by state political and business leaders, said Ben Lepak, executive director of the State Chamber’s Research Foundation.More: Oklahoma City a Top 10 construction powerhouse? Here’s which property sectors have boomed “Any one ranking or one year is just a snapshot in time,” Lepak said of the new survey.“But that’s why we’ve created our own metrics that we think can point the way for policy makers in Oklahoma and the business community to prioritize the things we need to be working on and improving.There’s also an accountability component of that.
We’ll be able to see, as we enact some of these policy reforms designed to improve these metrics — do they work? “I think in general, getting an idea of trends and trying to break down these different components of economic growth, is a really useful way to prioritize and to shape a policy agenda.” The State Chamber’s Research Foundation has compiled its own scorecard showing the state with shortcomings similar to those noted in the CNBC survey, including workforce and education.CNBC actually gave Oklahoma a better ranking for workforce, 36th, than the State Chamber, which ranked Oklahoma at 44th.Workforce is the most heavily weighted factor in the CNBC survey and was a focus for many states even before the various impacts of the pandemic.North Carolina ranked first in the nation in the category in the new CNBC report; Texas was second.“The data we’ve looked at related to workforce and education largely lines up with what you see in the CNBC report and others,” Lepak said.“When it comes to the workforce, we’ve got a pretty productive labor force, but we don’t have enough people in the labor force, and we also see a skills mismatch.” Gov.
Kevin Stitt’s press office did not respond to a request for comment on the CNBC ranking.The governor and the Legislature focused heavily on workforce issues this year, and Stitt signed a bill last month creating a nine-member commission to help shape the future.More: Fatal shooting in Edmond raises a question: Is there ‘retail stigma’ after tragedy? “As we are recruiting companies, we hear over and over again that it’s all about workforce” and whether companies looking to locate in the state can get the workers they need, Stitt said at a signing ceremony.
Oklahoma’s lowest ranking — 49th — came in the category of Life, Health and Inclusion, which factors in everything from the state’s crime rates and health care to its abortion laws.Only Texas finished lower than Oklahoma in that category.And some of the top states in the overall rankings, including North Carolina, Tennessee and Georgia, ranked relatively low for the category.
Vermont finished first.Oklahoma ranked 48th in education, ahead of only Alaska and Nevada.Within that category, the metrics were test scores; class sizes; spending; the number of colleges and universities (including historically Black colleges and universities); and community college and career systems, according to CNBC.Virginia finished first in the education category; Kansas was the highest among states surrounding Oklahoma, ranking fifth.
Stitt and the Legislature agreed this year to boost public education funding by $625 million, a recurring amount that includes teacher pay hikes.This article originally appeared on Oklahoman: How attractive is Oklahoma for business? Not very, according to CNBC ranking.
