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Economic Development

Area Businesses

Several well-known businesses have facilities in the Owasso area including American Airlines, MCI WorldCom, Whirlpool, Nordam, Honeywell and Vanguard. The sufficient numbers of employees and easy-access roads in Owasso make the Daytime Demand generated by area employers attractive to a variety of businesses, including retailers and restaurants. Below is a list of the major employers in the immediate Owasso area.

In a recent survey conducted in northeastern Oklahoma, business executives gave very high ratings to the quality of life in Owasso and believe this to be a key factor in recruiting and retaining workers. Owasso's percentage of college educated residents ranks above state and national population averages. The most highly rated “quality of life” items include affordable homes, health care services, public and private education, low crime rate, climate, and arts and cultural amenities.

Major Employers in the Owasso Area

Highlight: More than 65% of Owasso residents work in the Managerial, Financial, Professional, Administration, or Sales fields, compared to 56% of the general Oklahoma population.

Retail Potential Report

Owasso is much bigger than it appears on the map... with a trade area comprising more than 3600 square miles and 423,677 potential consumers, the area is a natural choice for many retail operations. The smashing success of both national and regional retail businesses who’ve chosen to locate in the city is a well-documented story. Some of the demographic highlights of the location include:

• A highly affluent local population, with a 2007 average family income in the Owasso ZIP code of $81,592.00. The 2007 population in the ZIP code is 35,708.
• An affluent trade area population, with a 2007 median family income of $60,129.00. This income is concentrated in households in their prime buying years: the median income levels for all households with heads between 25 and 65 fall between $41,000.00 and $52,000.00 yearly. Each age category is projected to gain between $5,000.00 and $7,000.00 in median income over the next 4 years.
• Residents of Owasso’s trade area, or funnel, have few other choices for shopping. Instead of driving on into Tulsa, they prefer shopping Owasso when the choice to do so exists (the goods and services they want are available). In fact, an average of 60% of Owasso’s retail sales come from non-residents.*
• Owasso’s population is projected to grow more than 17% between now and 2010.
• More than 80% of the households in Owasso are families and more Owasso residents have a post-secondary education than in the Tulsa metro area.
• Retail leakage studies based on 2007 data show an approximate $400 million dollar retail leakage in Owasso’s trade area. Much of this leakage is in specialty retail such as books, gifts, fine furniture, pharmacies, jewelry & accessories, all types of clothing, sporting goods, office supplies/stationery and full-service restaurants.
• 2007 daytime workplace population for the 5-mile radius surrounding the Owasso retail area is 11,540, with more than a third of that number employed in the “Executive/Professional” category. The City's new hospitals and medical office buildings add to that highly desirable daytime population and will provide a ready source of new consumers. The growing Owasso daytime workplace population is one of the reasons Owasso's retailers and restaurants thrive.

A small city of a MILLION people

Highways and convenient access roads funnel traffic approaching Tulsa from the North through Owasso. Few other retail choices exist for consumers between Tulsa and Wichita, KS or Joplin, MO. Many consumers from across Northeastern Oklahoma and Southeastern Kansas consistently choose to shop in Owasso. ZIP code data collected from Owasso retail stores confirms that Tulsans also shop Owasso for convenience and selection. As Owasso grows, our reputation as a convenient and comprehensive destination for shoppers will continue to grow.

• Approximately 700,000 people live within a 30-minute drive of downtown Owasso.
• Over 1 million people live within 50 miles of downtown Owasso.
• Living in Owasso means enjoying all the amenities and choices available in one of America’s most livable metropolitan areas without living in the city!
• Tulsa is ranked #6 in the Forbes magazine "Best Places for Business" in 2007
• Oklahoma ranks No. 6 in “The U.S. Economic Freedom Index: 2004 Report,” which ranks the 50 states based on how friendly their governments are toward free enterprise.

These reports appear in the “Best Places” issue of Forbes magazine.

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