Tulsa Regional Chamber hosts economic outlook

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Updated: 12/11/2013 3:03 pm Published: 12/11/2013 3:02 pm

The Economic Outlook Conference featured local and state economic forecasts, as well as a keynote address from Jim Huntzinger, executive vice president and chief investment officer, Bank of Oklahoma.

The event took place on Wednesday morning.

Huntzinger highlighted employment data and opportunities for economic growth.

"We're making progress," Huntzinger said. "It is a challenge, but I think we are moving in the right direction."

Also presenting at the event was Dan Rickman, Oklahoma State university regents professor of economics. Rickman presented a state economic outlook.

In addition, Tulsa Regional Chamber Economist Bob Ball provided a local economic forecast and analysis.

"The Tulsa-area economy is expected to grow in 2014 by 9,500 jobs, up 2.2 percent over 2013 based on data through third quarter, a rate that is about a third stronger than the 1.6-percent growth seen in 2013," Ball said. "Area income from wages and salaries will grow 5.4 percent in 2014 accompanied by strong growth in advanced manufacturing and professional and technical services."

Ball analysis included:
  • Employment growth of 9,500 jobs in the Tulsa MSA is expected in 2014, up 2.2 percent over 2013.
  • Growth is projected to be about one-third faster than 2013 based on data through September, with growth in advanced manufacturing and professional services leading the way.
  • Wages and salaries are expected to grow at 5.4 percent in 2014, a rate more than twice the rate estimated for 2013.

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Unwashed Mass - 12/11/2013 5:53 PM
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Want to improve tourism and Tulsa's economy? Get rid of A.B.L.E.
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