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OKC's growth reflects community's efforts and investment
The recent news about the Census and Oklahoma City’s growth prompted our team to take a longer look back at Oklahoma City’s growth since the original passage of MAPS. As we look back 30 years of the MAPS era of Oklahoma City, the transformation is dramatic.
The biggest change is that the Oklahoma City MSA has added nearly half a million people. The metro has 50% more residents now than it did in 1993. Our population during that period grew at an average of 1.5% which is 1.4 times faster than the nation.
When your population is growing, it is likely that employment was growing too. And that is absolutely the case, with total employment in the metro up by more than 330,000 over the same period.
With that growth in employment, we also added $55 billion in total personal income since 1990, and per capita income now exceeds $50,000. That number is still lower than the nation – an area where we want to continue to make up ground. Our economy is bigger than ever before, with a gross metropolitan product that now exceeds $80 billion annually.
The truly amazing fact when looking at all this growth is that our cost of living remains low – at 14% below the nation, even lower than 1990 when it was 6% below the nation.
We see every day the benefits of our collective investment in the city, but sometimes, it is nice to see the numbers that back up that story and show our trajectory for the future.