The cost of doing business in Tulsa is 20% below the national average. The average income of a Tulsa resident is $32,500, an increase of 7.7% since 1969, according to the U.S. Department of Commerce's Bureau of Economic Analysis.
Once called the "Oil Capital of the World," Tulsa's focus has moved from petroleum to healthcare, manufacturing, and telecommunications. American Airlines, Blue Cross & Blue Shield, Cingular Wireless, MCI, and Whirlpool are among the many companies in Tulsa. Each employs over 1,000 employees.
Tulsa has recently experienced economic development and revitalization.
- Former Mayor Bill LaFortune helped form an Economic Development Team to create an easy one-stop system for companies to relocate or expand.
- In 2003, Tulsa voters approved an increase in the sales tax for capital improvements and economic development.
- Target, Belk department store, and Lowe's Home Improvement have signed on as part of a 695,000-square-foot Tulsa Hills shopping center.
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