OKLAHOMA CITY--(BUSINESS WIRE)--The contribution and impact of the Chickasaw Nation on the economy of Oklahoma exceeds $2.4 billion dollars according to an economic impact analysis released today by the Steven C. Agee Economic Research & Policy Institute at Oklahoma City University. The report, "Estimating the Oklahoma Economic Impact of the Chickasaw Nation," was funded in part by the Oklahoma Department of Commerce and several Native American tribal governments to quantify the impact of tribal activities on the economy of the state of Oklahoma.
"The results are nothing short of impressive, and they show that the Chickasaw Nation's economic activities and enterprises strongly bolster the state economy. In fact, the analysis indicates the Chickasaw Nation's business enterprises generate $1.39 billion in annual revenue and support over 16,000 direct and indirect tribal and non-tribal jobs, many in rural Oklahoma where steady quality jobs are not as plentiful," said Kyle Dean, Ph.D, associate director and research economist at the Oklahoma City University Meinders School of Business. "For this study, we employed a methodology designed to estimate the contribution of an existing industry to the local economy by analyzing expenditure flows between households and industries and capturing the reliance of one industry's output on other industries. Through its diversified enterprises, the study underscores that the Chickasaw Nation has become an integral part of Oklahoma's overall economy and is now among the top employers and purchasers of goods and services in the state."
In addition to the $1.39 billion generated from tribal business activities, which include manufacturing, banking, tourism, energy, healthcare, hospitality and entertainment, the study found that the Chickasaw Nation contributes to the Oklahoma economy in multiple ways. The additional economic contributions include $318 million in direct payroll contributions and $119 million to Oklahoma entities for the purchase of goods and services. The Chickasaw Nation’s government expenditures amounted to $129 million in 2011. These expenditures funded programs and services in pursuit of increased medical care access, educational advancements, social services and economic development opportunities for Chickasaw Nation citizens in Oklahoma. The study also reported that the Chickasaw Nation employs over 10,000 people and supports 16,000 jobs in Oklahoma, producing annually $525 million in payroll revenues.
"The reinvesting of revenues earned by the Chickasaw Nation in ventures is creating jobs and business opportunities across multiple sectors of Oklahoma's economy as well as insulating the state from downturns in the national economy," Dean noted.
Oklahoma’s Secretary of Commerce, Dave Lopez, said, "The economic impact analysis shows that the Chickasaw Nation, as well as the other Oklahoma tribal governments, has a significant and beneficial impact on Oklahoma's economy. As made evident by the results in the study, the Chickasaw Nation's business ventures are creating positive economic activity and producing new jobs."
"Long term thinking guides our various business enterprises along with our goal to have a positive social and economic impact throughout the 13 counties comprising the Chickasaw Nation in south-central Oklahoma, as well as across all of Oklahoma," commented Bill Anoatubby, governor of the Chickasaw Nation. "Our economic activities are part of the economic fabric of the state, and the revenues generated through our various business enterprises allow us to invest in programs and services for the benefit of Chickasaw Nation and Oklahoma citizens, such as our $150 million medical center in Ada as well as new health facilities in Ardmore and Tishomingo. The tribe’s hospital and clinics average more than 350,000 patient visits each year.”
Bill Lance, chief executive officer of the Chickasaw Nation’s Division of Commerce, which oversees more than 60 businesses owned and operated by the Chickasaw Nation, said, "We are focused on growing our existing businesses and investing in new ventures with strong revenue and growth potential. To that end, we are committed to operating our diversified business enterprises in a responsible and sustainable manner to make sure we continue to strengthen our state's economy through sound investments and job creation."
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