OKC MAPS PROJECTS – 25 YEARS
Establishments . Business establishment growth in the U.S. and in many states has been sluggish for more than two decades. The downtown study area ZIP codes similarly experienced an extended period of little sustained business formation from 1994 to 2012 (see panel C of Figure 35). However, following the recent bottom in activity in 2012, establishment growth resumed in the downtown study area, adding 250 net new establishments (13% gain) through 2016. A reported total of 2,200 business establishments were operating in the study area in 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%), metro area (5.3%), state (2.5%), and nation (4.4%). The number of workers per establishment has also increased steadily since reaching a recent low in 2010, rising from about 20.3 to 22.1 workers per establishment through 2016 (see panel E of Figure 35). 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% gain in the period (see panel F of Figure 35).
64
Made with FlippingBook - professional solution for displaying marketing and sales documents online