OKLAHOMA CITY – Less than a week after a study deemed Oklahoma as having one of the worst economies in the country, Gov. Fallin announced that the state’s business-friendly policies are working.
In 2014, WalletHub ranked Oklahoma City among the best cities to start a business.
One year later, the company ranked Oklahoma City 21st on the same list, but Tulsa made the jump to second.
Now, WalletHub tells a different story when it comes to the Sooner State.
When the company ranked states by their economies, Oklahoma ended up 43rd on the list.
“I think we could do better,” said University of Oklahoma economics professor Dr. Greg Burge. “I think our economy is sort of accurately ranked given what they’re looking at.”
WalletHub.com ranked GDP growth, business start-up activity, household income, high-tech industries, inventor patents and several other factors.
On Tuesday, Gov. Fallin announced that Oklahoma was ranked as having the 10th best overall state economic outlook and 5th best state economic performance in Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index.
“Since 2014, Oklahoma has significantly improved in these rankings, moving from No. 21 in economic outlook to No. 10,” Fallin said. “This progress shows that we are continuing to establish and promote business-friendly policies that will help us to expand and diversify our state’s economy.”
Oklahoma received top rankings in property tax burden, estate tax levied, state minimum wage and right-to-work policies.
The study ranks the 2016 economic outlook of states using 15 policy variables.