The Center for Economic & Business Development at Southwestern Oklahoma State University conducted an updated study of the manufacturing sector’s economic impact upon the State of Oklahoma using a REMI model that was developed specifically for Oklahoma and its six primary regions. When researchers forecasted the manufacturing sector’s average economic impact on the statewide economy up to 2031, they found that state output would account for $154.972 billion, gross state product would account for $65.402 billion, real disposable personal income would account for $42.999 billion, and employment would add 328,540 net new jobs annually. Analysts modeled data from the Bureau of Economic Analysis, the U.S. Census Bureau, Bureau of Labor Statistics, State Employment Security Agencies, Energy Information Administration and other related sources that serve as the foundation upon which to forecast future economic and socioeconomic variables.
