OKC MAPS PROJECTS – 25 YEARS
Payroll at firms operating in the four primary ZIP codes similarly accelerated beginning in 2009. • Total annual payroll increased from $2.2 billion in 2009 to more than $3.4 billion in 2016 – a 57 percent increase. • Downtown far outpaced payroll gains across the broader region. • The 57 percent gain downtown was more than double the 26.4 percent gain statewide, 27.8 percent gain countywide, and 26.8 percent gain in the metropolitan area in the period. Recent downtown payroll gains far exceed historical gains. • Total payroll growth from 1995 to 2009 averaged 4.2 percent annually versus acceleration to 6.8 percent annually between 2009 and 2016. • Some sluggishness is present in 2016 relative to 2015 but reflects the statewide oil and gas slowdown in the period. Payroll gains in the study area are more than double the pace of reported employment gains in the period, suggesting rising pay per worker in the study area since 2009. • Average payroll per worker increased from $54,600 in 2009 to $70,200 in 2016, a 29 percent gain in the period. • For comparison, average pay per worker in the study area ($70,200) now far exceeds payroll per worker at the state ($42,042), county ($46,042), and metro ($43,061) levels. • The annual pay premium per downtown area job is now 67 percent relative to the state, 52 percent relative to the county and 63 percent relative to the metropolitan area. Business establishment growth in the U.S. and in many states has been sluggish for more than two decades but resumed growth in the downtown study area since 2012. • The downtown study area added 250 net new establishments (13 percent gain) from 2012 through 2016, the most recent data reported. • The rate of establishment growth in the study area is more than double the rate in the period for the county (5.0 percent), metro area (5.3 percent), state (2.5 percent), and nation (4.4 percent). • A reported total of 2,200 business establishments were operating in the study area in 2016. The average size of business establishments in the downtown study area continues to increase. • The number of workers per establishment has increased steadily since reaching a recent low in 2010, rising from about 20.3 to 22.1 workers per establishment through 2016. • The average size of a business establishment in the study area measured by total payroll is similarly increasing. The average firm increased its payroll from $1.1 million in 2009 to approximately $1.6 million annually in 2016, a 40 percent gain in the period.
17
Made with FlippingBook - professional solution for displaying marketing and sales documents online