Low joblessness,
high hustle.
By the headline numbers Oklahomans are working and starting businesses briskly. The state added 140,000 jobs in five years and has the highest rate of new business ownership in at least two decades.
People
3.8%
Unemployment, U-3
People
7.2%
Underemployment, U-6
People
140k
Jobs added, 2019–24
People
~1 in 5
Adults are new business owners
| Unemployed residents, U-3 | 76,800 |
|---|---|
| Marginally attached to the labour force | 18,600 |
| U-3 unemployment rate | 3.8% |
| U-6 underemployment rate | 7.2% |
| New-business-owner rate | ~19% |
The state runs
a surplus.
Many households
do not.
−43.7%
The fall in the average Oklahoma household's savings balance between 2019 and 2023 — the second-steepest decline in the country. Per-capita income of $62,661 ranks 40th, and median household income sits about 18% under the national figure.
Where the pressure shows
| Poverty rate | 15.3% |
|---|---|
| Child poverty | 20.5% |
| Food insecurity | 15.4% |
| Uninsured | 11.5% |
| Rental homes short for the lowest-income renters | ~85,000 |
|---|---|
| Extremely-low-income renters severely cost-burdened | 70%+ |
| Oklahoma City median rent, 2000 to 2018 | $483 → $851 |
| Oklahoma City point-in-time count, 2024 | 1,838 |
|---|---|
| Change against 2023 | +402 (~28%) |
| Chronically homeless, Oklahoma City | 474 (+17%) |
| Statewide, HUD 2024 | ~5,400 (+17%) |
Cash out,
and revenue
never collected.
| Quality Jobs family of programmes — cash to employers | ~$47–85M |
|---|---|
| Grocery sales-tax repeal — revenue foregone | ~$418M |
| Income-tax cut, HB2764 — revenue foregone, full-year FY27 | ~$340M |
The Quality Jobs Program pays qualifying companies up to 5% of new payroll in cash. A 2021 analysis found that $524.8 million of payouts between 2011 and 2018 generated about $4 billion in added state tax revenue. Manufacturing and oil and gas took over half the rebates.
The support
already exists.
Before you raise money or hire anyone, there are people whose job it is to help you get there. Most of it is free.
Small Business Development Centers
Free, one-to-one business advising
Every Oklahoma county is served by an SBDC offering free advising — business plans, financial projections, licensing, market analysis. No cost and no obligation. Search your county name and “SBDC Oklahoma”, or ask at your local chamber of commerce.
Quality Jobs Program
Up to 5% of new payroll, returned as cash
The state's flagship incentive returns a share of new payroll to qualifying employers creating jobs in-state. A 2021 analysis of 2011–18 payouts found $524.8M in rebates generated about $4 billion in added state tax revenue. Your local chamber can tell you whether a business qualifies.
Community Development Financial Institutions
Lending for businesses that don't fit a traditional bank
CDFIs are mission-driven lenders that serve entrepreneurs who do not qualify for conventional financing. They operate throughout Oklahoma. Ask your local bank or chamber which CDFIs serve your area, or visit your county economic development office.