Economy
Though the oil industry has historically dominated Tulsa's economy, efforts in economic diversification have created a base in the secotrs of aerospace, finance, technology, telecommunications, high tech, and manufacturing. The Tulsa International Airport (TUL) and the Tulsa Port of Catoosa, the nation's most inland seaport, connect the region with international trade and transportation. An American Airlines maintenance base at Tulsa International Airport is the city's largest employer and the largest maintenance facility in the world, serving as the airline's global maintenance and engineering headquarters, while the Tulsa Port of Catoosa and the Tulsa International Airport house extensive industrial parks.
Products from Tulsa manufacturers account for about 60% of Oklahoma's exports, and in 2001, the city's total gross product was in the top one-third of metropolitan areas, states, and countries, with more than $29 billion in total goods, growing at a rate of $250 million each year. In 2006, Forbes magazine rated Tulsa as second in the nation in income growth, and one of the best cities to do business in the country. Usually among the lowest in the nation in terms of cost of doing business, the Tulsa Metropolitan Area in 2005 was rated among the five lowest metropolitan areas in the United States for that category.
A number of large financial corporations are headquartered in Tulsa, the largest being the BOK Financial Corporation, the parent company to the Bank of Oklahoma, the Bank of Texas, the Bank of Arkansas, the Bank of Albuquerque, the Bank of Arizona, Colorado State Bank and Trust, and the Bank of Kansas City. The semi-national gas station chain QuikTrip, the national car rental companies of Vanguard and Dollar-Thrifty, and Mazzio's semi-national pizza chain also call Tulsa home. Many international oil and gas-related companies have headquarters in Tulsa, including Williams Companies, SemGroup, Syntroleum, ONEOK, Samson and Excel Energy. Meanwhile, there are 30 companies in Tulsa that employ more than 1,000 people, though small businesses make up more than 80% of the city's companies.
During a national recession from 2001 to 2003, the city lost 28,000 jobs. In response, a development initiative, Vision 2025, promised to incite economic growth and recreate lost jobs. Projects spurred by the initiative promised urban revitalization, infrastructure improvement, tourism development, riverfront retail development, and further diversification of the economy. As of 2007, employment levels have surpassed pre-recession heights and the city is in a significant economic development and investment surge.
(Source: Wikipedia.org)
