Oklahoma’s economy is based upon the industry of food manufacturing and production, aircraft development and natural gas extraction. Natural gas is abundant in Oklahoma, ranking the entire state second in the national standings. As for agriculture, Oklahoma competes with a 27th-ranking place, with 5th in rankings for wheat production. Oklahoma has also been rated as one of the most business-friendly states in North America, with tax burdens ranking as the nation’s 7th lowest. Oil accounts for at least seventeen percent of Oklahoma’s major economic shifters, but the industry was outpaced at the start of 2007 due to a collapse in the energy industry.
Oklahoma’s main industry lies in the sectors of aviation, energy production, transportation equipment assembly, food processing, electronics and communication, not mentioning the three previous main industries of the state. With a civilian work force of over 1.7 million. The government had at least provided jobs in the state for over three hundred thousand people in 2007, transportation and utility sector providing at least two hundred ninety thousand jobs and education, business, and manufacturing industries providing one hundred ninety thousand, one hundred eight thousand and one hundred fifty jobs respectively.
Among the industries, aerospace generates the most with at least eleven billion dollars per annum. Tulsa is home to the largest maintenance base for airlines in the whole world, serving at least a good number of international and national clients.
The state is also known as the top manufacturer and distributor of tires and also a rapidly-growing biotechnology industry. Other industries like meat packaging, oil and gas equipment manufacturing, and air conditioner production comprise the states largest manufacturers.
Oklahoma has a large consumption of energy per capita, with the number of industries running around the area. The state has at least eighty three thousand commercial oil wells with seven fifty thousand over all, producing one hundred seventy thousand barrels of liquid gold per day. An estimated one trillion six billion cubic feet of natural gas is found in Oklahoma’s underground reserves.
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