Workforce, infrastructure impediments to economic development in Oklahoma
Lack of adequate infrastructure and an educated, trained labor force are hampering state and local efforts to attract new companies to Oklahoma, according to various research.
OKLAHOMA CITY (Southwest Ledger) – Lack of adequate infrastructure and an educated, trained labor force are hampering state and local efforts to attract new companies to Oklahoma, according to various research.
Legislative Office of Fiscal Transparency (LOFT) stakeholder engagement found that workforce and infrastructure are the greatest impediments to the state’s business recruitment efforts.
State Chamber of Oklahoma and Oklahoma Department of Commerce surveys found that business owners are more concerned about infrastructure and having a skilled workforce than tax burdens. Only 13 percent of owners said taxes were their top priority, according to a State Chamber poll.
“Instead of focusing on tax cuts (which would reduce the state’s tax base and future revenue),” LOFT suggested that state legislators “should consider tax incentives targeted toward specific industries that could stimulate the economy, and raise revenues elsewhere.”
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