Oklahoma officials report 19% increase in new business investments in fiscal 2016
by May 25, 2016 4:57 pm 88 views
The Oklahoma Department of Commerce reports new investment in the state through almost 11 months of fiscal year 2016 is up more than 19% ($386 million) over the new investment for all of the 2015 fiscal year.
To date, more than $2.38 billion in new investment has been projected by companies with plans to expand in or relocate to the state, according to a statement from the office of Oklahoma Gov. Mary Fallin.
“This new investment represents 35 companies making commitments in our state. Not only will the investment dollars pour money into our economy, but it will provide approximately 3,900 new jobs in the long term – not to mention short-term construction jobs,” said Fallin. “The increase we’re seeing shows that Oklahoma’s business environment remains strong and is appealing to companies in varying industries.”
The planned new investment represents business decisions in 17 Oklahoma counties and multiple industries, including aerospace and defense, agriculture and biosciences, energy, information and financial services, and transportation and distribution.
“We are seeing a diverse range of industries and companies choosing to make investments in Oklahoma,” said Deby Snodgrass, secretary of Commerce and Tourism. “Even as our state faces a difficult downturn in the energy sector, other industries are seeing job growth and investment. As we work to continue to diversify the state’s economy, the economic development team at the Oklahoma Department of Commerce is looking for ways to increase growth of our key industries.”
The fiscal year 2015 saw $1.991 billion in investment by 87 companies. The fiscal year 2016 will end June 30.