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Chinks emerging in state's economic armor
Posted: 12.16.2008 at 10:08 AM
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OKLAHOMA CITY, OK (AP) -- Oklahoma has remained well-insulated from the national economic crisis because of high prices for oil and agriculture commodities earlier this year.

But experts say some chinks in the state's economic armor are beginning to emerge.

In the last month, more than a dozen companies have announced plans to layoff hundreds of workers in Oklahoma, including more than 100 employees at a Gatorade plant in Pryor, 80 workers at an Oklahoma City beverage can manufacturer and nearly 200 jobs at a Sand Springs steel mill.

Late last month, Google delayed the opening of a $600 million data center in Pryor that was expected to employ about 200 workers.

Still, State Treasurer Scott Meacham says that Oklahoma has weathered the national economic storm better than any other state and even better than he expected.

In a report issued last week on state revenue collections for November, Meacham reported better-than-expected collections from income taxes, sales taxes and the state's gross production taxes on oil and natural gas.

(Copyright ©2008 by The Associated Press. All Rights Reserved.)

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