Local & Regional
Wed December 11, 2013
Tulsa a "Shining Star" for 2014 Economic Growth
The Tulsa Regional Chamber has released its economic outlook for 2014, and it looks good for the Tulsa area.
"The outlook is very promising," said chamber economist Bob Ball. "I think it's probably the shining star, with regard to metro areas, for 2014."
The chamber predicts 9,500 more jobs, about 30 percent faster overall growth compared to last year and a 5.4 percent bump in overall wages — more than double the rate estimated for this year.
Not every worker in the Tulsa area, however, should expect more money next year. Ball says the growth figure for salaries and wages is skewed toward certain industries.
"Those areas of strong product demand, strong service demand are going to command the right employment mixed with the right expertise and high productivity," Ball said. "You do pay up for productivity."
Ball told those attending the chamber's conference this morning that advanced manufacturing will be the area's leading growth industry. It's predicted to grow by 7 percent. Aerospace and professional services are expected to be the other leading industries.
The chamber hosted the conference jointly with Oklahoma State University's Spears School of Business.
The economic forecast covers the Tulsa Metropolitan Statistical Area, which includes Tulsa, Creek, Okmulgee, Osage, Pawnee, Rogers and Wagoner counties.