When it comes to supply chain success, mitigating disruptions, business continuity and improving sustainability is key – and one southern state is serving as a model for supply chain resiliency.
Oklahoma companies across multiple industry sectors continue to locate operations to the state due to its robust talent pipeline, low operating cost, business-friendly policies, renewable energy and its central location.
Most recent examples of this include Enel North America’s plans to invest $1 billion to establish a solar cell and panel manufacturing facility outside of Tulsa, OK; and USA Rare Earth’s $100 million investment to establish the first domestic heavy rare earth magnet production facility in Stillwater, Oklahoma.
Here’s what Oklahoma businesses benefit from:
- Renewable Energy: Oklahoma is one of the top U.S. producers of renewable energy derived from solar and wind. It ranks #2 in wind generation, #3 in installed wind capacity and #6 in solar. The end result is that today, nearly 40% of the state’s total electricity is derived from renewable sources and produces 68% more energy than it consumes. This in turn has enabled Oklahoma to offer companies a constant flow of low-cost clean electricity, helping them meet their various ESG goals.
- Talent: Oklahoma’s nationally acclaimed Training for Industry Program (TIP) helps create a quality workforce tailored to industry needs, all at little or no cost to you. Delivered through Oklahoma’s 59 technology center campuses, services include job analysis, training needs assessment, pre-employment training, pre/post-production training, instructional materials and development, and more. Among the top 10 most productive workforces in the U.S., Oklahoma is a constitutional Right to Work state with low unemployment insurance taxes and programs significantly reducing hiring and training start-up costs.
- Accessibility: An international airport in Tulsa, along with 135 public-use airports across the state, offers access to domestic and international destinations. Major highways connect Oklahoma within a day’s drive to all U.S. markets. The state is home to four inland ports and 20 rail operators, providing Class I and II service throughout the state.
- Supplier connection: Companies thinking of nearshoring their operations in Oklahoma are able to take advantage of Connex OK, one of the first-ever online supply chain portals developed by a state. The platform allows manufacturers to find suppliers locally, regionally and nationally; view their supply chain virtually; avoid single-supplier risks, financial threats, companies on government blacklists; and other vulnerabilities.
In the face of constant disruptions, leading companies worldwide are constantly seeking resources of these kinds to help mitigate risk. Oklahoma’s model to promote supply chain resiliency can serve as a framework for other regions, cities or states.
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