Oklahoma is becoming a popular U.S. location for international companies and attracting a rapidly increasing number of foreign direct investments. The leading investing countries are Japan, United Kingdom, China, and the Netherlands. The Midwestern state also has a growing number of international banks, foreign consulates, and bi-national chambers of commerce located here.
The state welcomes all forms of foreign investments, from entrepreneurial ventures to major manufacturing or distribution facilities, telecommunications entities, scientific and aeronautical defense services, and from real estate to major private equities or other financing.
The fields of industry that would lure more Chinese investors can range from electronics, robotics, and aeronautics. These hi-tech industries are not just limited to the manufacturing, marketing or services side; Oklahoma lays claim to an abundance of higher learning institutions, from which to work with and for training a better-qualified labor force.
The aviation and aerospace industry in Oklahoma has generated over $U.S.11.7 billion in industrial output, with Aircraft manufacturing accounting for $U.S.1.7 billion in industrial output. Oklahoma City has been named by Forbes Magazine and Bloomberg as an American manufacturing boomtown.
The state is becoming a leader in the growth industries of the future, such as bio and nanotechnology. The creation of the Oklahoma Nanotechnology Initiative - functions as an informational hub for the financial, academic, business and industrial fields.
The invention of a unique method for creating 3-D and 1-D TMOs that comprised efficient mechanical and electronic characteristics were discovered by Oklahoma Researchers in collaboration with North Carolina State University. Forecasts say that the nanotechnology industry may likely surge to U.S. $75.8 billion by 2020, making Oklahoma a target market for nanotechnology investments.
A key component of any investment decision is to calculate the cost of doing business in a prospective destination.
In regards to labor wages, the manufacturing industry can be labor intensive, while numerous manufacturers must compete with low-wages in developing countries. Consequently, wage levels do have a major impact on investment decisions. Therefore, Oklahoma's low cost of living is an attractive benefit for skilled labor here and allows for a more lucrative bottom line for companies.
Additionally, states with lower business tax burdens have proven to be much more attractive to potential investors. Oklahoma offers many unique and differing tax incentives to encourage more widespread foreign investments within the state. It is well worth considering to take advantage of these available options.
The quality of life is usually integrated into the management structure of foreign investment companies, offering an added appeal to foreign investors considering Oklahoma as an investment location. From its mild climate and moderate temperatures, the low cost of living, higher institutions of education, business friendly incentive programs, and wide open natural landscape; Oklahoma makes an ideal setting for attracting foreign business interests.
By Christina Kitova, associate partner at Hodges Media Communications, based in Oklahoma City, OK, U.S.A.
