(The Center Square) – Oklahoma's economic outlook ranks third in the U.S. in the American Legislative Exchange Council Center for State Fiscal Reform's 2021 Rich States, Poor States competitive index.
The report uses 15 equally weighted policy variables to rank the economic competitiveness of states, including various tax rates, regulatory burdens and labor policies.
The index also ranks each state in economic performance by examining data over the past 10 years in cumulative GDP growth, cumulative domestic migration and nonfarm employment growth.
Oklahoma's third-place ranking in economic outlook for 2021 was five spots better than 2020, when it ranked ninth. In the 15 policy variables used to determine economic outlook, Oklahoma ranked in the top 10 for property tax burden (second), having no estate or inheritance tax (tied for first), minimum wage (first at $7.25 an hour), and being a right-to-work state.
The American Legislative Exchange Council is the largest nonpartisan, voluntary membership organization of state legislators in the United States. It is governed by state legislators who comprise the Board of Directors and is advised by the Private Enterprise Advisory Council, a group of private, foundation and think tank members.
via Oklahoma's Center Square News