Oklahoma Economic Abstract 2009
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NORMAN, OKLAHOMA ECONOMIC ABSTRACT 2009 NORMAN OKLAHOMA America’s 6th best city - Money Magazine 2008 OKLAHOMA NORMAN 2 Norman is a special place. With a rich history beginning in 1889, Norman is home to the stateʼs premier research university, the University of Oklahoma, and is a part of the dynamic Oklahoma City metropolitan area with over one million residents. Norman was recently recognized nationally by MONEY magazine as the #6 best mid-size city to live in. The Norman community takes excellent care of our citizens. With agencies such as Food and Shelter for Friends, the Center for Children and Families, Health for Friends and other United Way programs we are able to extend a hand to those in need. Norman is always improving, expanding and changing. Norman Regional, a premier municipal hospital, is building a new campus offering the very best in healthcare. We have a wonderful public school system that consistently scores above state averages in every sector of testing. Moore Norman Technology Center is another feature of our community to brag about. MNTC has earned the Oklahoma Association of Technology Centerʼs Gold Star School Award six times, most recently during the 2006-2007 school year. Our community offers job opportunities in a wide range of companies such as Astellas Pharma, Hitachi, Johnson Controls, National Oceanic and Atmospheric Administration (NOAA), Sitel, Offi ceMax, RiskMetrics Group, Weathernews and Chickasaw Nation Industries. Norman is a diverse community with a rich history. We love calling Norman home, and I think you will too. Come see our city with its small town feel and big city arts and amenities! Sincerely, Cindy Rosenthal Mayor 3 Population Population by Race Population by Age 7.8% 0.5% Under 5 years 4.2% 3.4% 5 to 9 years 10 to 14 years 4.0% 15 to 19 years 20 to 24 years 87.8% 25 to 34 years 35 to 44 years 45 to 54 years 55 to 59 years 60 to 64 years 65 to 74 years 75 to 84 years Over 85 years White Asian 0 Black or African American Two or More Races 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 American Indian/ All Other Races Native American Population by Growth 120,000 100,000 80,000 Population by Gender 60,000 53,760 53,395 40,000 49.8% 50.2% Male Female 20,000 68,020 80,071 95,694 107,690 109,323 111,357 52,117 68,020 80,071 95,694 107,690 109,323 111,357 111,543 0 1970 1980 1990 2000 2005 2006 2007 2008 4 TransportationTransportation Location Will Rogers World Airport, Oklahoma City Conveniently located in the heart of the nation, Norman Distance from Norman: 20 miles is the perfect hub for companies serving markets on both Major airlines include American, American Eagle, coasts. Norman is located on I-35, and is intersected by U.S. Continental, Delta, Frontier, Northwest, Southwest and Highway 77 and State Highway 9. Norman is just 17 miles United Express. south of I-40 and I-44. Major freight carrier services include Airborne Express, Integrated Airline Services, FedEx, UPS, BAX Global, County: Cleveland Evergreen Eagle and the U.S. Postal Service. Nearest major city: Oklahoma City, 17 miles City size in square miles: 96.5 Max Westheimer Airport, Norman Elevation: 1,170 ft. Norman is also served by its own municipal airport, Max Westheimer Airport, which meets the needs of business Distances to Major Cities executives and recreational pilots alike. With runway lengths Albuquerque 562 miles of 5,200 feet north/south and 4,750 feet northeast/southwest Atlanta 859 miles the airport has medium intensity runway and approach lights Chicago 811 miles with Visual Approach Slope Indicators serving all runways. Dallas 189 miles The airport and its facilities are capable of serving executive Denver 694 miles jet aircraft. The control tower operates seven days a week Houston 516 miles from 8AM to 10PM. AV Gas and Jet A are available from Kansas City 367 miles 6AM to 10PM. FBO is provided by Cruise Aviation Association Little Rock 344 miles Inc., which sells fuel and performs aircraft repair. A flight Los Angeles 1,348 miles school is provided through the University of Oklahoma New Orleans 710 miles Aviation Division. New York 1,467 miles St. Louis 516 miles Public Transportation The Cleveland Area Rapid Transit (CART) Service Norman Traffic Counts (405-325-CART) provides public transportation in and around Tecumseh & I-35 5,578 - 75,500 VPD Norman and links the service to Oklahoma City. Greyhound Robinson & 36th Ave. NW 17,833 - 24,517 VPD Lines Inc. provides service in Norman (405-579-1616). Robinson & I-35 24,517 - 68,400 VPD The Port of Catoosa is the nearest river port, approximately Main & 36th Ave. NW 17,833 - 29,078 VPD 100 miles away. Porter & Alameda 14,922 - 19,524 VPD Alameda & 12th Ave. E 14,626 - 29,447 VPD Railroad Lindsey & I-35 24,192 - 66,300 VPD Norman is on the main line of the Santa Fe/Burlington Northern Railroad. It is also a stop on the AMTRAK Heartland Flyer (1-800-USA-RAIL) between Oklahoma City and Fort Worth, Texas. 5 Business Incentives & Taxes The Oklahoma Quality Jobs Program Employee Training for Industry This incentive program provides quarterly cash payments The Oklahoma Department of Career and Technology of up to 5% of newly created gross taxable payroll to a Education (Career Tech) assists qualifying businesses by paying qualifying company. A fully executed contract with the for training for employees in newly created jobs. Training can Oklahoma Department of Commerce must be in place be done at one of 54 Technology Centers, including Moore before any new direct jobʼs salaries are included in the new Norman Technology Center (www.mntechnology.com) here taxable payroll. Payments are made quarterly for three in Norman, or at the companyʼs facility. Training agreements years and if thresholds are achieved, they may extend for include instructor costs. Program services are determined by the an additional seven years. number of new jobs created in targeted industries, wage rates, and benefi ts provided. Ad Valorem Tax Exemptions New and expanding qualifying manufacturers, research Income Tax and development companies, certain computer services and data processing companies with signifi cant out-of-state Personal Income Tax 5.5% maximum sales and aircraft repair and distribution companies may be Corporate Tax Rate 6% maximum eligible for ad valorem exemptions for up to fi ve years. Normanʼs Assessed Valuation is 12% (Cleveland County) Exempt Inventory Property Tax (Ad Valorem) Oklahomaʼs Freeport Law exempts goods, wares, and City $5.51 merchandise from taxation which come from outside the County $21.07 state and leave the state within nine months where such Public Schools $67.08 goods, wares, and merchandise are held for assembly, Technology Schools $14.38 storage, manufacturing, processing or fabricating purposes Total $108.04 within the state. Valuation is 12% of Fair Market Value per thousand of assessed value Small Employer Quality Jobs Incentive Act Sales Tax This program provides annual cash payments to a qualifying company. The payments may reach as much as State of Oklahoma 4.5% 5% of new taxable payroll and last for up to seven years. City of Norman 3.5% 6 Income & Shopping Sooner Mall Historic Downtown Norman More than 70 local and national retailers and delicious Newly revitalized downtown Norman blends art, restaurants located under one roof. Anchor stores include architecture, entertainment, shopping, and dining. Enjoy Abercrombie & Fitch, American Eagle, Dillardʼs, Eddie charming antiques, fi ne furniture, art galleries, and a Bauer, Express, Gap, J.C. Penney, Sears, The Limited, Old delicious variety of unique restaurants. Navy, and Victoriaʼs Secret. Campus Corner Income Growth (Median Household Income) Soak up the nostalgic university atmosphere of Campus Corner while shopping at Shoetopia, Antique Garden, $45,000 Balfour and Savvy. Take time to dine at Café Plaid, Hideaway Pizza, Louieʼs Deli & Bar, Victoriaʼs Pasta $40,000 Shop, OʼConnellʼs, Starbucks or La Luna. When the sun $35,000 goes down, enjoy live music, dancing and fun at Campus Cornerʼs many pubs! $30,000 $25,000 Retail Locations Square Footage $20,000 Robinson Crossing 84,453 $15,000 Sooner Fashion Mall 447,574 $10,000 Brookhaven Village 159,202 Parkway Plaza 275,118 $5,000 University Town Center 2,000,000 $35,588 $36,023 $36,713 $36,713 $41,629 $38,636 $39,391 $44,615 Campus Corner 210,000 0 Historic Downtown 400,000 2000 2001 2002 2003 2004 2005 2006 2007 Parkway Plaza Retail Sales Growth History (SIC Collections) Delicious restaurants, national retailers, 50,000,000 jewelers, and specialty home stores line this exciting shopping district. Youʼll fi nd stores such as Bed, Bath, & Beyond; Barnes and 40,000,000 Noble; ULTA; and Ross, to name a few. Save time for dinner at restaurants including Chiliʼs, On the Border, BJʼs, and Charlestonʼs. 30,000,000 University Town Center Phase One of a 2 million square foot retail 20,000,000 center has been completed with stores like Super Target, Kohls, and PetsMart. Phase Two and a lifestyle center will be built in 10,000,000 2008/2009 anchored by an 8 acre legacy park with a community outdoor amphitheater, lake and water features. Recently completed 0 are a new 300 room Embassy Suites Hotel 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2008 *2007 and a 75,000 square foot convention center. * Represents a reduction in the city sales tax rates from 3.5 to 3 cents. Overall retail sales for the year 2006/2007 increased 5% to previous year.