OSU Report for Woodward in 2008 shows positive signs
The William S. Spears School of Business at Oklahoma State Universary has released its Economic Outlook for 2008. Here is a summary:
- The Woodward area economy continues to exhibit remarkable growth, posting job growth of 5.1% for all of 2007. Only slightly slower job growth of 4.2% is forecasted for 2008.
- Woodward’s job formation will continue to significantly outpace the state and the northwest region of the state in 2008.
- Woodward continues to be fueled by the energy sector. Job growth in mining is expected to reach 22.6% for all of 2007, representing 420 new jobs. Growth in energy related hiring is expected to decelerate significantly next year with 9.9% job growth (225 new jobs) predicted.
- More than 50% of Woodward’s new jobs in 2008 are expected to come from the mining sector.
- Per capita personal income should grow by 4.6% for all of 2007 and by 8.2% in 2008. Woodward is expected to approach the state average in per capita personal income in 2008 and has gained significant ground on the nation.
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