WEEKLY UPDATE      January 12th, 2007

OOPS! MY BAD ...since the world famous, highly anticipated, much discussed Ponca City Economic Development Conference held on November 17th, we've been reporting the findings of OSU's Dr. Mark Snead, who evaluated the Ponca City economy. Dr. Snead, you may recall, reported that in 2006, Ponca City was expected to see job growth of 3.8%, a very healthy rate that greatly exceeded the state and far exceeded the growth rate of the nation. The key word there was "expected." The updated numbers have now come in. The result, not 3.8% job growth as reported but 5.0%. There is no way to talk our way out of this mistake. You were misled and we hope you can get over it. So how does this compare? As just one example, at today's Stillwater economic development conference, the same Dr. Snead rightfully congratulated our friends in Stillwater for their very strong job growth rate of 2.5%. For those of you bad at math, (i.e. lottery players) that's half of Ponca City's job growth rate. SO WHERE'S THE BEEF ...we've been asked many times since the Snead report came out about the new jobs and where they might be. People, it appears, keep looking for an old economy that is no longer with us and miss the new economy taking hold. The health of local economies is also often judged by media announcements and it appears that stories of PCDA agreements with new companies such as the UML, Host Analytics, Drisco, Quarter Turn Resources, Custom Mechanical Equipment, College Coaches Network and others, has not reached everyone. In addition, 80% of job growth in the U.S. comes from existing companies, not companies attracted to an area. PCDA currently has expansion agreements with Mertz, Tyson, Bliss Industries, CFS and Pioneer Rental, (headquarters relocation) and has provided non-monetary assistance to others that are expanding on their own. Bottom line, this is not the company town economy that many were used to, but it is a growing economy. Get used to it. NO DECEMBER CHILL ...Remember when people used to slow down for the holidays? File that under "back in the day." During December, PCDA had 20 contacts with new companies, 37 with existing companies, (see "expansion" and "assistance" mentioned above) 19 contacts with site consultants, 10 with our regional partners and 26 with government officials. Meetings with companies went as late as December 22nd and resumed on Dec. 27th. WHILE YOU ...were watching the bond election on Tuesday, PCDA staff was meeting with three different companies this week about new projects. We also met with four existing companies about, well, things, and provided market research to a Ponca City company that wants to suck business out of another state. This is a worthy and noble goal in our opinion so our data master went to work. In addition, PCDA staff trained in our new business retention and expansion, (the theme continues) software, and followed-up on contacts from last week. UPCOMING.... Thur. Jan. 18th: Ponca City Area Chamber of Commerce Annual Banquet; Call 765-4400 Fri. Jan. 19th: OK Gateway Regional meeting, 10:30 a.m., Stillwater Chamber Ponca City Development Authority 102 S. Fifth Street, Ste. 3, Ponca City, OK 74601 580.765.7070/580.765.0969-fax Or E-Mail - David Myers CEcD - Executive Director Visit Ponca City Development's Latest News Archives © www.goponca.com - Ponca City Development Authority - Ponca City, Oklahoma