The SOIC Regional Economic Indicators consists of three sections, which are Regional Total Employment, Total Wages, and City Sales Tax Collections. The trends exhibited in the charts are useful in tracking regional economic movements on a quarterly basis that includes the counties and cities residing in the Southwestern Oklahoma Impact Coalition (SOIC) region.
The charts provide a handy way to gauge the strength of a particular sector or city in the SOIC regional economy and where it is headed. For example, an increase in the Total Mining Employment represents a strong economic growth in mining sector of the region in a certain time period. Likewise, a hike in City Sales Tax Collection could imply additional local revenue to support local enforcement and improve the development of a local region. The Total Wages Indicator is useful in that it dictates how the local market performs or is headed, thus any fall in Total Wages in a particular business sector may suggest a decline in regional consumer spending.
Counties included in the SOIC region are Beckham, Blaine, Caddo, Canadian, Comanche, Cotton, Custer, Dewey, Grady, Greer, Harmon, Jackson, Jefferson, Kingfisher, Kiowa, McClain, Roger Mills, Stephens, Tillman, and Washita.
The major cities located in the SOIC region consist of Anadarko, Burns Flat, Cheyenne, Clinton, Cordell, Duncan, Elk City, El Reno, Frederick, Hobart, Hollis, Kingfisher, Lawton, Mangum, Mustang, Purcell, Sayre, Taloga, Walter, Watonga, Waurika, Weatherford, and Yukon.
The information which is updated quarterly in this section was obtained from Oklahoma Employment Security Commission (OESC) and the Oklahoma Tax Commission.
Total Employment:
Total employment provides a measure of the number of employees working for the same employer in both the previous and current quarter. The information used in this section was obtained from the Oklahoma Employment Security Commission. Total Employment is represented by different business sectors by NAICS code.
Total Wages:
The total wage figures include all wages and salaries paid to federal and covered employees including bonuses, commissions and cash value of all payment received in any medium other than cash. These wages include both taxable and non-taxable wages. The information used in this section was obtained from the Oklahoma Employment Security Commission. Total Wages is presented by different business sectors by NAICS code.
City Sales Tax Collection:
The distribution of city sales tax collections primarily represents tax receipts from local businesses. The following graphs show the city sales tax collections for the 24 cities located in the SOIC counties. Data was obtained from the Oklahoma Tax Commission.