OKLAHOMA | #16 | GROWTH SOONER OR LATER
The plunge in energy prices hit Oklahoma hard. Oil prices dropped nearly in half while statewide drilling activity shrunk at a similar pace. Mining “has an outsize effect on our statewide economy,” observes Monty Evans, senior economist at the Oklahoma Employment Security Commission; about one in four jobs are energy-dependent. The downturn affects how government provides services; Evans worries “we may well be looking at a $1 billion budget shortfall” in 2016.
The bright side is diversification. The Sooner State “has achieved real economic diversity” in recent years, says consultant Angelou. “It’s attracting more technology and R&D companies.”
Still, Oklahoma struggles to regain peak employment. After registering a 5.35% employment hike in 2013, that figure dropped to 4.49% in 2014 and could inch up to 4.59% this year, forecasts Oklahoma State University economist Dan Rickman. While acknowledging that oil and gas prices won’t rise anytime soon, Evans nevertheless forecasts that Oklahoma’s real gross state product will grow 3.1% in 2016.
Employers worry that Oklahoma’s aging workforce could thwart expansion. Education’s a concern too. In Tulsa, the regional chamber continues to press the legislature to address the teacher shortage. Manufacturing, once a state strength, continues to decline. Over the last year, Oklahoma’s manufacturing cluster has shrunk by more than 8,000 manufacturing jobs, nearly 6% of its total. According to Ernie Goss, director of Creighton University’s Economic Forecasting Group, the cluster will shrink further in Q1 2016.
Oklahoma City, the state’s major business center, “continues to enjoy the fruits of economic geography as economic activity concentrates along the I-35 corridor megalopolis,” writes Russell Evans, executive director of the Steven C. Agee Economic Research and Policy Institute at Oklahoma City University. Major expansions and relocations include Boeing’s 290,000 square foot plant in Oklahoma City and Petra Industries’ 275,000 square foot facility in Edmund.
Site selector Foote calls the overall Oklahoma business environment “one of the finest business climates in the country.” He also likes its tax credits, certified real estate sites, incentive programs and welcoming attitude. “Oklahoma is saying, ‘We want you to come here,’” he says.
Logistics are advantageous. As Bill Luttrell, senior locations strategist with Werner Global Logistics, puts it: “It doesn’t hurt to have I-35 and I-40 coming through your state.” Economic development policies also please. Luttrell says, “Oklahoma is a state that’s on the forefront of making things happen.”
WHY WE’RE HERE / OKLAHOMA
WHO John Shotton, Chairman, Otoe-Missouria Tribe; CEO, Otoe-Missouria Development Authority
SITE HISTORY All tribal businesses, with about 1,800 employees, are administered from tribal council headquarters building on Otoe Reservation in Red Rock. Operations include hotel, restaurant, five casinos, fuel delivery and online lending business.
WHY OKLAHOMA “Oklahoma is not merely a place to do business—it is our home and the center of Otoe-Missouria culture. We work hard to provide meaningful careers and job skills to improve the quality of life for families across northern Oklahoma.”
WHY RED ROCK “This is our home.”
BOTTOM LINE “Our enterprises create jobs in high growth sectors including gaming, technology, financial services, green energy and more. Profits from our tribally owned businesses are used to fund critical social programs for our elders, youth and the most vulnerable members of the tribe and surrounding community.”
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
