Oklahoma City leaders highlighted multimillion and billion dollar achievements in commerce this year and announced a new economic development plan for 2025 during the Greater Oklahoma City Chamber’s annual meeting Wednesday.
Oklahoma City generated 5,800 new jobs, $350 million in new payroll, $664 million in new capital and $4.5 billion in tourism, according to Teresa Rose, chamber chair and executive director of the Communities Foundation of Oklahoma.
“These numbers are a testament to the strength of our economy and the hard work of our businesses, workers and community leaders,” said Rose. “But as we celebrate these successes, we also acknowledge that challenges remain. Workforce development, education and building a resilient future are key areas to which we must continue to focus our efforts.”
Hobby Lobby CEO plans continued partnership with OKC Chamber in 2025
The meeting also featured an onstage chat with David Green, founder and chief executive officer of Hobby Lobby, who said he plans to continue to be a partner to the city chamber.
Green created the Oklahoma City-based, multi-billion arts and craft supply chain from a $600 loan, and he recently won the 2024 Wilberforce Award from the Colson Center, which recognizes Christian leaders who have made an impact in their “sphere of influence,” according to Breakpoint. At the event, he noted that the company donates a substantial amount of money to various ministries.
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Green said he, his wife Jennifer, their three kids and their spouses worked together to come up with the company’s vision, mission and values. The document, all based on Scripture, helps keep the business in line. “So, it’s not something that I think or someone else thinks that we know,” he said. “It’s coming from God’s word, which we are excited about.”
He said he keeps the core values of the company alive through a system of rules applicable to all 1,000 stores operating across the U.S.
“The main thing is to be who we say we are,” he said. “You have to have values and say, ‘I’m not going to open on Sundays.’ So, there’s a lot of things people do in 48 states, and there are a lot of our customers and a lot of our employees who know who we are just by how we take care of our customers and our employees.”
The company is now worth around $8 billion, according to Forbes.
When asked if he believed that Oklahoma City’s business environment related to Hobby Lobby’s success, he agreed. He said operating a business in Oklahoma proved far easier than many other states.
“Some states are very difficult, even just to build a building,” said Green. “So, we love being here in the city and how they treat us. We just see them as partners.”
Green also plans to make changes next year. He said he plans to add new technology to Hobby Lobby operations to his 250-staffed IT department.
How OKC addressed underemployment, helped build workforce skills in 2024
Wednesday’s event spotlighted many other successful partnerships the city chamber has engaged in over the last year, which addressed underemployment and skills gaps in the workforce, according to Rose.
The chamber partnered with Oklahoma State University to launch the first Federation for Advanced Manufacturing Education, or FAME, chapter ― a program that offers training, education and certifications in the industry. Eight students enrolled last summer. Rose said they are now working at Omada International, Climate Control Group and IDEX Energy Advance Flow Solutions.
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“These partnerships are a great example of how we can work together to build a stronger, more resilient economy for our city,” she said.
The city chamber also relaunched Life Science Oklahoma. Rose said Oklahoma’s bioscience sector has grown substantially. She added that new biotechnology, therapeutics and diagnostic advances positioned the state as a leader in the field.
“Oklahoma’s emerging science and health care ecosystems stands out for its blend of innovation and research and collaboration, established infrastructure, and the economic and financial advantages that we have here,” she said.
A contributing factor to growing Oklahoma’s life science sector used funding from the Build Back Better regional grant program — a $35 million challenge awarded by the Biden administration to the Oklahoma City Economic Development Fund, according to Rose.
Rose applauded the city’s billion-dollar tourism sector, which resulted in 21 million annual visitors and generated 34,897 jobs. To keep up with the industry’s demand, city leaders are working on securing federal funding for major events like the Women’s College World Series and secure final approval from Los Angeles to host the 2028 U.S. Olympic trials.
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She noted that aside from global opportunities, the city funded projects that modernized the animal shelter and created the $19 million Diversion Hub, a service provider for those impacted by the criminal justice system.
“As we continue to grow, one of our key drivers of economic development will be our innovation district,” Rose said, exemplifying convergence plans, the MAPS-funded innovation hall and renovations to the Henrietta B. Foster Center. “These innovations, combined with infrastructure projects that enhance connectivity and walkability are positioning Oklahoma City to attract new businesses, new talent and new investments.”
The city completed a new economic development strategic plan this year to meet goals set for 2027 based on five key pillars: quality of place, education, economic growth, marketing and civic engagement, according to the board chair.
“We will continue to work with our companies to increase investment in the program necessary for its success as our city continues to assert itself, both nationally and globally,” said Rose.
