ECONOMY GOAL
Investing in Oklahoma's economic vitality and prosperity; and partnering with, supporting and growing the state's key economic sectors.
The following program areas fall under the Economy Goal:
Metric Legend Guide
Aerospace and Defense
Program Description
Partner, support, grow and regulate Aerospace and Defense.
Total FY 2023 Expenditures
$59.7M
Performance Metrics
Aerospace and Defense Employment
Metric: Increase Aerospace and Defense employment.
Explanation: Aerospace and Defense is one of Oklahoma's key industry sectors, including parts manufacturing, maintenance and repair, unmanned aerial systems, and military research and development. This indicator measures the number of currently filled jobs in this industry.
116,482
Jobs
Aerospace and Defense Exports
Metric: Increase Aerospace and Defense exports.
Explanation: Aerospace and Defense is one of Oklahoma's key industry sectors, including parts manufacturing, maintenance and repair, unmanned aerial systems, and military research and development. This measures the value of Aerospace industry exports in billions of dollars.
$23.92B
Exports
Aerospace and Defense Sales
Metric: Increase Aerospace and Defense sales.
Explanation: Aerospace and Defense is one of Oklahoma's key industry sectors, including parts manufacturing, maintenance and repair, unmanned aerial systems, and military research and development. This measures the value of Aerospace industry sales in billions of dollars.
$33.58B
Sales
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Agriculture and Biosciences
Program Description
Partner, support, grow and regulate Agriculture and Biosciences.
Total FY 2023 Expenditures
$31.5M
Performance Metrics
Agriculture and Biosciences Employment
Metric: Increase Agriculture and Biosciences employment.
Explanation: Agriculture and Biosciences is one of Oklahoma's key industry sectors and includes food and fertilizer manufacturing; research, testing and medical laboratories; medical devices and equipment; and drugs and pharmaceuticals. This indicator measures the number of currently filled jobs in this industry.
96,186
Jobs
Agriculture and Biosciences Exports
Metric: Increase Agriculture and Biosciences exports.
Explanation: Agriculture and Biosciences is one of Oklahoma's key industry sectors and includes food and fertilizer manufacturing; research, testing and medical laboratories; medical devices and equipment; and drugs and pharmaceuticals.This indicator measures industry exports in billions of dollars.
$25.16B
Exports
Agriculture and Biosciences Sales
Metric: Increase Agriculture and Biosciences sales.
Explanation: Agriculture and Biosciences is one of Oklahoma's key industry sectors and includes food and fertilizer manufacturing; research, testing and medical laboratories; medical devices and equipment; and drugs and pharmaceuticals. This indicator measures annual sales in billions of dollars for this industry.
$37.09B
Sales
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Business Vitality
Program Description
Encourage business development, expansion and increased production capacity.
Total FY 2023 Expenditures
$14.1M
Performance Metrics
International Agricultural Exports
Metric: Increase the 4-year moving average of total international agricultural exports.
Explanation: This measures the value of Oklahoma agricultural products for international markets in billions of dollars.
$2.06B
Agricultural exports
Real Gross Regional Product
Metric: Increase Real Gross Regional Product (annual output from an economy).
Explanation: The Real Gross Regional Product (GRP) reports the market value of all goods and services produced within Oklahoma in billions of dollars, adjusted for inflation.
$191.58B
Gross regional product
State Industry Exports
Metric: Increase state industry exports.
Explanation: This indicator reflects the revenue in billions of dollars coming to Oklahoma due to the sale of all goods and services to entities outside of Oklahoma.
$294.72B
Exports
State Industry Sales
Metric: Increase state industry sales.
Explanation: This measures all industry sales in billions of dollars, including retail and business-to-business sales.
$499.97B
Sales
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Employment Growth
Program Description
Refers to the efforts that the state of Oklahoma is making to affect employment and wages.
Total FY 2023 Expenditures
$101.0M
Performance Metrics
Veteran Unemployment
Metric: Decrease the veteran unemployment rate.
Explanation: This measures the number of unemployed veterans as compared to the total veteran labor force. Veterans are proven successful and dedicated employees. The state's Oklahoma Military Connection works to assist veterans, National Guard and Reserve members with acquiring a civilian job that matches their skills, abilities and interests.
2.1%
Unemployment rate
Youth Unemployment
Metric: Decrease the youth unemployment rate.
Explanation: This measures the number of unemployed individuals ages 16-19 as compared to the total youth labor force in that age range.This indicator helps to measure short-term economic opportunity for young people and the career readiness of today’s youth.
11.9%
Ages 16-19 unemployment rate
Offenders Re-entering Workforce w/ Vocational Training & Certificates
Metric: Increase the percentage of offenders re-entering the workforce with vocational training or certifications.
Explanation: Vocational training assists with economic stability by increasing the employability of the ex-offender, which reduces the likelihood of returning to prison. Ex-offenders who gain employment become members of the workforce contributing to the overall economy of the state.
9.1%
Offenders
Disability Clients Employment
Metric: Increase the percentage of Department of Rehabilitation Services clients with disabilities who find employment.
Explanation: This is the percentage of participants exiting the vocational rehabilitation program who get a job after receiving services.This is a traditional measure of success among participants receiving vocational rehabilitation services.
44%
Disability clients employed
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Energy
Program Description
Partner, support, grow and regulate Energy industries.
Total FY 2023 Expenditures
$7.9M
Performance Metrics
Energy Employment
Metric: Increase Energy industry employment.
Explanation: Energy is one of Oklahoma's key industry sectors, including engineering, manufacturing, production and distribution of oil, gas, and wind energy. This indicator measures the number of currently filled jobs in this industry.
79,405
Jobs
Energy Exports
Metric: Increase Energy exports.
Explanation: This measures the amount of energy industry exports in billions of dollars. Energy is one of Oklahoma's key industry sectors, including engineering, manufacturing, production and distribution of oil, gas, and wind energy.
$64.74B
Exports
Energy Sales
Metric: Increase Energy sales.
Explanation: This measures the amount of energy industry sales in billions of dollars. Energy is one of Oklahoma's key industry sectors, including engineering, manufacturing, production and distribution of oil, gas, and wind energy.
$87.31B
Sales
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Entrepreneurship
Program Description
Support the creation of small businesses to address market demands and new market development.
Total FY 2023 Expenditures
$2.1M
Performance Metrics
Microenterprise Ownership
Metric: Increase the microenterprise ownership rate.
Explanation: This measures the percentage of microenterprises, which are businesses with five employees or less. Microenterprises grow innovation and represent an investment in the community.
2.8%
Microenterprise business ownership
Small Business Ownership
Metric: Increase the small business ownership rate.
Explanation: This measures the percent of small businesses, defined as businesses with more than 5 and fewer than 100 employees. Small businesses grow innovation and represent an investment in the community.
2.15%
Small business ownership
Venture Capital & Equity Investments
Metric: Increase the average size of the venture capital investments.
Explanation: This metric measures the reported average value of venture/equity deals within Oklahoma. This National Science Foundation indicator provides one measure of the magnitude of investment that companies have attracted from venture capital.
$6.25M
Average venture capital deal
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Information and Financial Services
Program Description
Partner, support, grow and regulate Information and Financial Services.
Total FY 2023 Expenditures
$21.0M
Performance Metrics
Information and Financial Services Employment
Metric: Increase Information and Financial Services employment.
Explanation: Information and Financial Services is one of Oklahoma's key industry sectors including data centers, banking and investment, cyber security, and computer systems. This indicator measures the number of currently filled jobs in this industry.
119,267
Jobs
Information and Financial Services Exports
Metric: Increase Information and Financial Services exports.
Explanation: This measures exports in billions of dollars in this sector, including data centers, banking and investment, cyber security, and computer systems
$8.68B
Exports
Information and Financial Services Sales
Metric: Increase Information and Financial Services sales.
Explanation: This measures sales in billions of dollars in this sector, including data centers, banking and investment, cyber security, and computer systems.
$37.38B
Sales
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Innovation
Program Description
Enable business growth through technology, research and development.
Total FY 2023 Expenditures
$44.1M
Performance Metrics
New Patents Filed
Metric: Increase the number of new patents filed in Oklahoma.
Explanation: This measures the number of new patents filed in Oklahoma each year, which represents the development of new products and intellectual property.
634
Patents
Research and Development Investments
Metric: Increase the percentage of state spending on Research and Development investments.
Explanation: This measures Oklahoma's investment in fostering a business climate conducive innovative development. This will lead to jobs, wealth and the ability to compete in a knowledge economy. Funding is provided to sectors such as agriculture and energy and to universities for research projects.
0.16%
State spending
National Innovation Ranking
Metric: Increase the state ranking on the Draper Innovation Index.
Explanation: This indicator evaluates the technology innovation environment and the tax and regulatory environment to provide a detailed view of the innovation happening within Oklahoma.
25th
National rank
Small Business Innovation Research Awards
Metric: Increase the number of Small Business Innovation Research (SBIR) awards.
Explanation: These awards help startups navigate the earliest stages of technology translation. Technology funded includes advanced manufacturing, artificial intelligence, biological technologies and environmental technologies.
5
Awards
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Tourism, Arts & Heritage
Program Description
Support tourism, arts, and the heritage of our state.
Total FY 2023 Expenditures
$86.9M
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Wealth Generation
Program Description
Increase and support citizen wealth and generate wealth within the state.
Total FY 2023 Expenditures
$2.7B
Performance Metrics
Income Poverty Rate
Metric: Decrease the state income poverty rate.
Explanation: This measures the percentage of individuals living below the federal poverty threshold.This measure provides insight into the distribution of wealth and the intensity of poverty in Oklahoma and quantifies the disparity of wealth accumulation among the population.
15.7%
Income poverty rate
Median Household Income
Metric: Increase the state median household income.
Explanation: This measures the midpoint of household incomes, meaning half of households earn more and half of households earn less. Household income is money received by all household members ages 15+. Positive growth in median household income indicates an increase in wealth in the population as a whole.
$59,673
Median household income
Per Capita Personal Income
Metric: Increase the per capita personal income as a percentage of the national average.
Explanation: Per capita income demonstrates income growth or decline as compared to the growth in the population. An increase in this metric is positive, indicating growth in personal income averaged across all residents of Oklahoma.
86%
% of national average
Average Annual Wage
Metric: Increase the state average annual wage.
Explanation: This reports the average annual wage, not including benefits, per employed Oklahoman. Higher average wages may indicate that the job market is composed of higher skilled positions rather than non-skilled jobs.
$50,940
Average annual wage
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Workforce Participation
Program Description
Increase the total number of citizens in the workforce.
Total FY 2023 Expenditures
$138.4M
Performance Metrics
Labor Force Participation
Metric: Increase the total labor force participation rate.
Explanation: This measures the percentage of people who are either currently employed or actively seeking employment as compared to the overall working-age population of the state.
61%
Of population 16+
State Labor Force
Metric: Increase the state labor force.
Explanation: This measures the number of individuals, aged 16+, in the state who are either currently employed or actively seeking employment. Individuals not included in the labor force are those who cannot work or choose not to work, such as students, homemakers or retirees.
1,887,040
People age 16+
TANF Client Workforce Training
Metric: Increase the percent of Temporary Assistance for Needy Families (TANF) clients who complete career and technology programs or special projects in two-year colleges.
Explanation: Completion of college or training with a degree or certification in a skill is critical to finding reliable work and building a pathway to future growth in family income.
62.8%
TANF clients completing programs
Year-over-Year Expenditure Comparison
FY 2023 Expenditures by Agency
Last Modified on
Apr 15, 2024
