Monday, August 20, 2007

Cost of Doing Business in Oklahoma

Oklahoma's cost of doing business is among the lowest in the nation, as reported in the annual Milken Institute Cost of Doing Business Index, released this week. Oklahoma was ranked No. 40, with a cost of doing business 85.4 percent of the national average.
Hawaii holds the distinction of having the highest cost of doing business at 51.5 percent above the U.S. average. New York and Alaska also were ranked high.
The ranking is example of Oklahoma's competitive advantage in attracting businesses to the state. Oklahoma is 8 percent below Colorado, 9 percent below Louisiana, and 12 percent below New Mexico.
Oklahoma performed best in industrial rental rates at 68.9 percent of the national average. Other factors below the U.S. norm were wage costs, 80.7 percent; office rental prices, 81.6 percent; and electricity costs, 89.2 percent.
Source: Oklahoma Department of Commerce