Ardmore economic strength ranking improves
07/08/2012 Ardmore economic strength ranking improves
The 2012 Economic Strength Rankings, published annually by the Policom Corporation, has Ardmore ranked number 172 out of 576 micropolitan areas in the nation. Ardmore moved up 7 places in the ranking this year. The chart below shows how Ardmore’s comparative economic strength has risen steadily over the last nine years and easily betters numbers posted by other comparable cities in our region. The improvement level since 2004 is impressive. Ardmore, Duncan and Ada were all ranked in the 460 range in 2004. In the span of seven years, Ada and Duncan moved up 130 places. While that is great progress, Ardmore moved up nearly 300 points in the rankings!
Wes Stucky, ADA President said that Policom specializes in studying the dynamics of local economies and is broadly recognized. “From its research, it determines if an area is growing or declining, and what is causing this to happen. The firm addresses the condition of an economy from the viewpoint of its impact upon the standard of living of the people who live and work in an area.”
The formulas used to determine economic strength measures how the economy has behaved, not what has caused it to perform. Simply identifying the areas that have the fastest or slowest growth rates is insufficient when trying to determine the character of a local economy. The rate, consistency, and stability of the growth is equally or even more important.
The Institute also measures strength in the 366 Metropolitan areas. Oklahoma City made the top 100 at number 85 while Tulsa was ranked 141. The critical point is not so much in their rankings, but in the change in rankings since 2004. Tulsa dropped from 84th to 155 in 2011 but moved back up this year. Oklahoma City improved from 183 to 99 in 2011 and continued the upward trend. Stucky noted that most people in Oklahoma are familiar with the tremendous renaissance evident in Oklahoma City. “Citizens in that community have repeatedly stepped up to plate, taxing themselves for public improvements that have resulted in private investment and growth. That investment is paying huge dividends, as evidenced in the strength of their economy.”
Scott Chapman, Chamber of Commerce Chairman said there is a lesson here that is repeated in progressive communities all across the country—not just in Oklahoma City or in Ardmore. “Communities who invest in themselves and their infrastructure reap the rewards. The numbers tell the story and prove the point.” He added that the current sales tax for jobs is responsible for much business growth in Ardmore and the sales tax for infrastructure allows it to happen while improving the quality of life for all citizens.