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Category: Business and Industry
Date Submitted: 04/05/2013 11:55 PM
Oklahoma Cooperative Extension Service
AGEC-862
Critical Factors in Attracting New
Business and Industry
in Oklahoma
Gordon Sloagett
Research Associate
Mike D. Woods
Oklahoma Cooperative Extension Fact Sheets
are also available on our website at:
http://osufacts.okstate.edu
Extension Economist
The emphasis in this fact sheet is on attracting industry
(manufacturing), but much of the discussion also applies to
attracting non-manufacturing type business. The objectives
of this fact sheet are to review the:
1. elements of an industrial recruitment program
2. important factors in industrial location
3. changing national economy and new factors which will
be important to industry and business location
should be targeted on industries for which the community has
a comparative advantage.
A community’s comparative advantage may be in one or
more areas of production. A community with a large underemployed labor force may have a comparative advantage for
labor intensive industry. Other potential comparative advantages may include abundant water supplies, electric power,
transportation opportunities, location, natural resources,
particular labor skills, educational facilities, etc. It is important
for community leaders to be aware of situations giving their
area a comparative advantage.
The bases of a recruiting program is a local economic
development committee. To gain widespread community support, the committee should be made up of leaders from all
facets of the community. The responsibilities of the committee
are to:
1. Examine the advantages and disadvantages of the community as a location for new business and industry.
2. Identify potential industries and firms that are growing
and would profit from locating in an area with location
characteristics common to your area.
3. Prepare information — brochures, slide shows, etc. — that
will help to sell the community to a potential industry.
4. Organize local resources —...