A SUMMARY OF ECONOMIC CONDITIONS IN CHICKASHA AND GRADY COUNTY, OKLAHOMA Susan Routh, Grady County Extension Director, Chickasha (405)

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1 AE A SUMMARY OF ECONOMIC CONDITIONS IN CHICKASHA AND GRADY COUNTY, OKLAHOMA 2013 Susan Routh, Grady County Extension Director, Chickasha (405) Dave Shideler, Extension Economist, OSU, Stillwater (405) Trey Malone, Graduate Research Assistant, OSU, Stillwater OKLAHOMA COOPERATIVE EXTENSION SERVICE OKLAHOMA STATE UNIVERSITY March 2013

2 A Summary of Economic Conditions In Chickasha and Grady County, Oklahoma 2012 Susan Routh County Extension Director Grady County Extension Office 828 W. Choctaw Chickasha, OK Dave Shideler Extension Economist 323 Ag Hall Oklahoma State University Stillwater, OK Trey Malone Graduate Research Assistant Oklahoma State University Stillwater, OK ABSTRACT This paper provides a comprehensive overview of the economic conditions in Chickasha, OK. The information provided includes the trends in population, employment, income, and retail sales. "Oklahoma State University, in compliance with Title VI and VII of the Civil Rights Act of 1964, Executive Order as amended, Title IX of the Education Amendments of 1972, Americans with Disabilities Act of 1990, and other federal laws and regulations, does not discriminate on the basis of race, color, national origin, sex, age, religion, disability, or status as a veteran in any of its policies, practices or procedures. This includes but is not limited to admissions, employment financial aid, and educational services." "Readers may make verbatim copies of this document for non-commercial purposes by any means." 2

3 A Summary of Economic Conditions in Chickasha and Grady County, Oklahoma 2012 The economy of Chickasha and Grady County greatly depends on a number of employment sectors with the primary drivers being farming, state and local government, and mining. Although many of the trends in Chickasha reflect those of Grady County, and to a lesser extent the state of Oklahoma, there are features presented in this report that highlight some of Chickasha s uniqueness. This purpose of this report is to provide an overview of the economic conditions of Chickasha and Grady County; but more specifically, its objective is to examine trends in population, employment, income, and retail sales. No recommendations will be made regarding the findings of this report. General Demographic and Population Data TheU.S. Census Bureau reported the 2010 population of Chickasha was 16,036, while the population of Grady County was 52,431. For Grady County, this was a population increase of 15.2% over the last decade. Chickasha s population grew by 1.2% during the same period. Communities in the northern part of the county grew rapidly; for example, Blanchard grew by over 5,000%, while Norge grew by 76.8% and Tuttle grew by 40.2%. Also, the unincorporated portion of the county grew by 16.6%. All other communities in the county experienced more modest population growth or decline since The total and the average size of households for Grady County and the incorporated areas within the county are shown in Table 2. In 2010, Chickasha had 6,374 households with an average size of 2.5 persons per household, which was slightly less than the county average size of persons per household. Chickasha accounted for 32% of the total households in the county, while the remaining county residents in non-incorporated areas accounted for 41%. The educational attainment data for Grady County and the incorporated areas within the county are shown in Table 3. In Chickasha, 84% of the population aged 25 and over have at least a high school education compared to 84.6% for the county and 86.3% for the state. The percent of Chickasha residents aged 25 and over with a bachelor s degree or higher was 18.4%, which was greater than the county average of 16.5% but less than the state s average of 23.8%. 3

4 Table 4 presents population by age data for Chickasha, Grady County and Oklahoma for Chickasha s youth population (19 of age and under) represents 27.4% of total population, which is smaller proportionately than both Grady County (28.0%) and Oklahoma (27.8%). Chickasha also has roughly the same proportion of its residents over the age of 65 (15.3%) as Grady County (15.4%), but still higher than Oklahoma (13.4%). Figures 1a and 1b compare the proportion of total population across all age categories for Chickasha, Grady County and Oklahoma for 2000 (Figure 1a) and 2010 (Figure 1b). From Figure 1a, one can see that the largest portion of the population across all three categories is 35 to 44 of age. Of interest in Figure 1b is that Chickasha and Grady County have proportionately less young workers (20 to 24 and 25 to 34 ) than the state as a whole, though Chickasha and/or Grady County have proportionately more older working population (ages 35 to 64). Chickasha and Grady County also have proportionately more elderly than the state as a whole. Comparing the two figures, one notes that the age structure of all three geographies is relatively stable with the exception that the 45 to 54 of age category becomes the largest share of population. While this reflects a matriculation of persons between 2000 and 2010, it is interesting to note that the numbers also suggest that the 35 to 44 of age category must have not seen much growth between 2000 and

5 Table 1: Population Data for Chickasha and Grady County and Cities Therein, 1990, 2000, 2010 Area % Change, Grady 41,747 45,516 52, % Alex % Amber % Blanchard (part) ,910 5,357.1% Bradley % Bridge Creek * * 336 N/A Chickasha 14,988 15,850 16, % Minco 1,411 1,672 1, % East Ninnekah 1, , % Norge % Pocasset * % Rush Springs 1,229 1,278 1, % Tuttle 2,807 4,294 6, % Verden % Remainder of County a 18,424 19,153 22, % Grady 41,747 45,516 52, % Source: Oklahoma Department of Commerce, "Census Population By City By Place , Downloaded: 9/24/ :30 a.m. a The remainder of county includes all residents in Grady County that do not live in an incorporated area. 5

6 Table 2: Population, Households and Average Household Size for Chickasha and Incorporated Places within Grady County. Area Population Total Households Average Household Size Grady County 52,431 19, Alex Amber Blanchard 1, Bradley Bridge Creek Chickasha 16,036 6, Minco 1, Ninnekah 1, Norge Pocasset Rush Springs 1, Tuttle 6,019 2, Verden Remainder of County 22,335 8, Source: US Census Bureau; 2010 Census; Table DP-1; Profile of General Population and Housing Characteristics, 6

7 Table 3: Educational Attainment for Chickasha and Grady County and Incorporated Places Therein Compared to the State of Oklahoma Persons 25 Years and Over 9th to 12th, No Diploma High School Graduate (Includes Equivalency) Some College, No Degree Grady County Alex Amber Blanchard Bradley Bridge Creek Chickasha Minco Ninnekah Norge Pocasset Rush Springs Tuttle Verden State of Oklahoma 34, , ,434 1, , ,469,196 3, , ,261 12, , , , ,960 8, , , , ,284 Associate's Degree 2, ,761 Bachelor's Degree 3, , ,219 Graduate or Professional Degree 1, ,499 Percent of Population over 25 Years of Age with at Least a 84.1% 83.6% 73.0% 93.7% 81.6% 85.0% 83.1% 85.1% 83.5% 82.1% 84.4% 78.5% 88.5% 76.8% 85.4% High School Diploma Percent of Population over 25 Years of 16.5% 13.8% 10.3% 23.6% 1.02% 5.0% 18.4% 12.4% 15.0% 26.9% 7.8% 10.9% 19.3% 12.8% 23.8% Age with at Least a Bachelor s Degree Source: Compiled by OCES staff from American Community Survey 5-Year Estimates, Table B15002

8 Table 4: Population by Age and Sex for Chickasha, Grady County and Oklahoma, 2010 Chickasha Grady County Oklahoma Number Percent Number Percent Number Percent Total population 16,163 52,431 3,450,654 Male 7, % 26, % 1,856, % Female 8, % 26, % 1,894, % Under % 3, % 264,126 7% 5 to 9 1, % 3, % 259, % 10 to % 3, % 253, % 15 to 19 1, % 3, % 264, % 20 to 24 1, % 3, % 269, % 25 to 34 2, % 6, % 506,755 14% 35 to 44 2, % 6, % 460, % 45 to 54 2, % 8, % 525,611 14% 55 to % 3, % 235, % 60 to % 3, % 204, % 65 to 74 1, % 4, % 280, % 75 to % % 164, % 85 and over % % 61, % Median age () and over 12, % 39, % 2,821, % 21 and over 11, % 37, % 2,653, % 62 and over 2, % 8, % 625, % 65 and over 2, % 7, % 506, % Source: US Census Bureau, DP-1 Profile of General Population and Housing, 2010 Demographic Profile Data 8

9 Figure 1a: Population by Age for Chickasha, Grady County and Oklahoma, Chickasha Grady County Oklahoma to Under to to to to to to to to to 74 Source: US Census Bureau, DP-1: Profile of General Demographic Characteristics, to 84 Figure 1b: Population by Age for Chickasha, Grady County and Oklahoma, % 16.0% 14.0% 12.0% 10.0% 85 and over 8.0% 6.0% Chickasha Grady County Oklahoma 4.0% 2.0% 0.0% Under 5 5 to 9 10 to to to to to to 54 Source: US Census Bureau, DP-1 Profile of General Population and Housing, 2010 Demographic Profile Data 9 55 to to to to and over

10 Employment Trends Because employment data is not available at the municipal level, this section will discuss employment trends for Grady County. Local discernment is necessary to determine how applicable these values are to Chickasha. Grady County s total labor force and unemployment numbers from the are presented in Table 5 (data is from the Bureau of Labor Statistics). Unemployment in 2011 was 5.8%. The highest unemployment rate over the 21 year period occurred in 2009 (7.5%), while the lowest unemployment rate, 2.9%, occurred in As one can see in Figure 2, Grady County s unemployment rate is a little more volatile than the state of Oklahoma. Table 6 provides information on employment by industry for Grady County from the In 2011, Grady County s three largest employers were retail trade, state and local government, and farming. The majority of employment sectors experienced job growth. The greatest job growth occurred in mining (149.8%), educational services (100.0%), real estate and rental and leasing (80.5%), professional and technical services (61.0%), and arts, entertainment, and recreation (43.5%). Forestry, fishing and related activities, manufacturing, information, administrative and waste services, and accommodation and food services experienced declines of more than 10%. Farming, utilities, wholesale trade, other services, federal government (civilian and military), and state and local governments also realized single-digit declines in employment. One can further analyze the conditions in the county by using a location quotient to determine a community's degree of self-sufficiency in a particular economic sector is presented in Table 7 (also see Figure 3). The location quotient is used to identify exporting activity, and is calculated by dividing the percentage of those locally employed in a particular sector by the percentage of those employed in the same sector nationwide 1. The location quotient can be used to interpret whether a county is self-sufficient (equal to the national level), is an importer (less than the national average), or is an exporter (greater than the national average) in a particular sector. A location quotient that is 1 Community Economic Analysis: A How to Manual. By Ron Hustedde, Ron Shaffer, and Glen Pulver. North Central Regional Center for Rural Development, Iowa State University of Science and Technology, Ames, Iowa

11 approximately one (or within the range of 0.75 to 1.25) suggests self-sufficiency; a quotient less than 0.75 suggests that a county is an importer. If the location quotient is greater than 1.25, the county is likely an exporter of products in that sector. The greater the location quotient, the more significant that sector is to the local economy. According to Table 7, Figure 3a and Figure 3b in 2011, Grady County was likely an exporter of goods and services related to farming, forestry, construction and other services. It also appears that the county is most likely an importer of goods and services related to these sectors: utilities, information, administrative and waste services, educational services, health care and social assistance, accommodation and food services, federal civilian government and federal military. All other sectors appear to serve the local economy. 11

12 Table 5: Labor Force for Grady County Year Labor Force Unemployed Unemployment Rate, Grady County Unemployment Rate, Oklahoma ,615 1, % 5.7% ,692 1, % 6.2% ,086 1, % 6.2% ,640 1, % 6.0% ,973 1, % 5.6% ,539 1, % 4.6% , % 4.2% , % 4.2% ,386 1, % 4.4% , % 3.6% , % 3.1% , % 3.7% , % 4.8% ,549 1, % 5.6% ,975 1, % 5.0% ,477 1, % 4.5% ,677 1, % 4.1% ,884 1, % 4.1% , % 3.7% ,174 1, % 6.7% ,046 1, % 6.9% ,180 1, % 6.2% Source: Bureau of Labor Statistics. Local Area Unemployment Statistics. 12

13 Figure 2: Unemployment Rate for Grady County and Oklahoma, % 7.00% 6.00% 5.00% 4.00% Grady County Oklahoma 3.00% 2.00% 1.00% 0.00% Source: Bureau of Labor Statistics, Local Area Unemployment Statistics 13

14 Table 6: Employment (in thousands) by Major Industry in Grady County, Total Employment Farming Forestry, Fishing, Related Activities Mining Utilities Construction Manufacturing Wholesale Trade Retail Trade Transportation and Warehousing Information Finance and Insurance Real Estate and Rental and Lease Professional and Technical Services Management of Companies and Enterprises Administrative and Waste Services Educational Services Health Care and Social Assistance Arts, Entertainment, and Recreation Accommodation and Food Services Other Services, Except Public Administration Federal Civilian Government Federal Military State and Local Government Source: Woods and Poole 2012 State Profile on CD-ROM. 14

15 Table 7: Location Quotient for Grady County, Employment Sector Farm Forestry, Fishing, Related Activities Mining Utilities Employment Construction Manufacturing Wholesale Trade Retail Trade Transportation and Warehousing Information Finance and Insurance Real Estate and Rental and Lease Professional and Technical Services Management of Companies and Enterprises Administrative and Waste Services Educational Services Employment Health Care and Social Assistance Arts, Entertainment, and Recreation Accommodation and Food Services Other Services, Except Public Administration Federal Civilian Government Federal Military State and Local Government Source: Computed by OCES using Woods and Poole 2012 State Profile on CD-ROM; the reference region is the United States, data retrieved from State Annual Personal Income and Employment, 15

16 Figure 3: Location Quotients for Selected Industries in Grady County, Source: : Computed by OCES using Woods and Poole 2012 State Profile on CD-ROM; the reference region is the United States, data retrieved from State Annual Personal Income and Employment, 16

17 Income Trends Table 8 provides data portraying total personal income by major source for Grady County for the As with the employment data, income data is only available at the county level, so readers should be discerning about how these values apply to Chickasha specifically. Between 2001 and 2011, total personal income in Grady County increased by 57.3%, with earnings by place of work representing the largest source of income (44.6%) followed by adjustment for residence (24.2%) and personal current transfer receipts (21.3%). (Adjustment for residence accounts for the fact that income data is collected based on employment location, so this number represents the level of income earned outside of Grady County by households which live in Grady County.) The fastest growing component of income in the county during this period was personal current transfer receipts (123.9%), followed by supplements to wages and salaries (i.e., benefits like health insurance subsidies and retirement contributions; 59.5%) and adjustment for residence (58.4%). In 2011, per capita income was $37,679 for the state of Oklahoma and $30,979 for Grady County; also see Figure 4. Transfer payments are often referred to only as welfare payments, but this category actually contains a much more diverse group of payments. Table 9 gives the breakdown of the various types of transfer payments received in the county from The largest shares of these payments come from medical benefits (which include Medicare and Medicaid payments) and retirement and disability insurance payments; together, these categories comprised 75% of transfer payments to individuals in Grady County in From , unemployment insurance compensation grew by 220.3%, while medical benefits increased by 197%. 17

18 Table 8: Personal Income (in thousands) by Major Source for Grady County, Wage and salary disbursements $327,035 $349,617 $359,545 $378,406 $390,479 $417,325 $428,991 $464,170 $429,527 $438,310 $469,125 Supplements to wages and salaries $76,200 $86,966 $101,557 $98,320 $101,762 $104,406 $103,943 $112,454 $110,678 $113,387 $121,547 Proprietors' income $124,174 $109,506 $103,025 $121,806 $125,037 $111,215 $109,844 $110,397 $88,272 $121,304 $141,468 Earnings by place of work $527,409 $546,089 $564,127 $598,532 $617,278 $632,946 $642,778 $687,021 $628,477 $673,001 $732,140 less: Contributions for government social ($54,882) ($59,571) ($61,777) ($65,582) ($68,258) ($72,450) ($73,729) ($77,334) ($74,913) ($77,484) ($76,870) insurance plus: Adjustment for residence $251,400 $255,561 $272,560 $278,059 $288,923 $324,636 $345,706 $379,949 $352,221 $377,226 $398,261 plus: Dividends, interest, $163,778 $144,160 $136,603 $151,285 $168,372 $183,325 $218,992 $248,315 $217,650 $219,647 $238,742 and rent plus: Personal current transfer receipts $156,423 $179,036 $187,179 $195,464 $216,768 $239,419 $257,862 $284,815 $325,469 $343,788 $350,223 Personal income $1,044,128 $1,065,275 $1,098,692 $1,157,758 $1,223,083 $1,307,876 $1,391,609 $1,522,766 $1,448,904 $1,536,178 $1,642,496 Per capita personal income (dollars) Grady County $22,770 $22,815 $23,239 $24,036 $24,831 $25,918 $27,323 $29,499 $27,740 $29,256 $30,979 Per capita personal income (dollars) Oklahoma $26,200 $26,185 $26,862 $28,702 $30,333 $33,040 $34,329 $37,694 $34,082 $35,535 $37,679 Source: Bureau of Economic Analysis, Regional Economic Accounts. CA05N: Personal Income by Major Source and Earnings by NAICS Industry. 18

19 Figure 4: Per Capita Income for Grady County and the State of Oklahoma, $40,000 $35,000 $30,000 $25,000 $20,000 Grady County Oklahoma $15,000 $10,000 $5,000 $ Source: Bureau of Economic Analysis, Regional Economic Accounts. CA05N: Personal Income by Major Source and Earnings by NAICS Industry. 19

20 Table 9: Transfer Payments (in thousands) by Type for Grady County, Retirement and disability insurance benefits $73,013 $77,588 $79,047 $85,836 $91,606 $96,831 $103,233 $109,968 $121,651 $127,355 $130,761 Medical benefits $44,505 $59,224 $63,514 $65,616 $76,421 $92,018 $100,750 $109,699 $120,204 $124,848 $132,190 Income maintenance benefits $15,524 $18,291 $20,983 $22,544 $24,708 $25,421 $25,985 $32,230 $33,452 $40,572 $40,982 Unemployment insurance compensation $2,360 $3,858 $4,572 $3,055 $2,430 $2,625 $2,431 $3,367 $12,861 $12,148 $7,558 Veterans benefits $6,802 $7,330 $7,909 $8,411 $9,653 $10,837 $11,698 $13,775 $15,545 $16,928 $18,166 Education and training assistance $4,073 $4,456 $4,044 $4,184 $4,534 $4,938 $5,401 $5,936 $7,038 $7,935 $8,290 Other transfer receipts of individuals from governments $234 $144 $154 $156 $212 $154 $292 $380 $4,060 $1,916 $542 Current transfer receipts of nonprofit institutions $4,203 $4,262 $4,531 $4,784 $5,668 $5,486 $5,339 $5,309 $6,122 $6,793 $6,959 Current transfer receipts of individuals from businesses $5,709 $3,883 $2,425 $878 $1,536 $1,109 $2,733 $4,151 $4,536 $5,293 $4,775 Personal current transfer receipts $156,423 $179,036 $187,179 $195,464 $216,768 $239,419 $257,862 $284,815 $325,469 $343,788 $350,223 (thousands of dollars) Source: Bureau of Economic Analysis, Regional Economic Accounts. CA35: Personal Current Transfer Receipts. (L) Less than $50,000, but the estimates for this item are included in the totals. 20

21 Trends in Use and Sales Tax Collections Table 10 presents sales tax collections for Chickasha for fiscal In 2011, collections totaled $9,473,608 (an increase from 2010). The tax rate has changed twice since 2000, when it changed from 3.75% to 4.0% in 2006, and it returned to 3.75% in Estimates of retail sales can be calculated from sales tax collection figures. Figure 6 shows estimated retail sales for Chickasha from 1980 to Retail sales growth can be an important indicator for communities to track over time. Not only are retail sales an indicator of the strength of an economy, but since most local governments depend on sales tax revenues to fund their budgets, retail sales also determine a local government's ability to provide local services. Furthermore, careful analysis of retail strengths and weaknesses may indicate possible areas of improvement for communities intently focused on economic development through the retention or attraction of local retail dollars. As one can see in Figure 6, retail sales in Chickasha have generally increased since 1990, but when adjusted for inflation, the volume of sales remained flat until 2005, after which it rose until peaking in Retail sales growth is consistent with the increases in employment and income discussed in previous sections of this report. 21

22 Table 10: Sales Tax Collections and Estimated Retail Sales for Chickasha, OK, FY Year Tax Rate Months Sales Tax Collections Estimated Retail Sales Inflation-Adjusted Sales % 12 $1,674,193 $83,709,650 $83,709, % 12 $1,873,440 $93,672,000 $84,912, % 12 $2,427,528 $121,376,400 $103,641, % 12 $2,457,275 $122,863,750 $101,646, %, 3% 9, 3 $2,492,913 $111,931,033 $88,769, % 12 $3,517,330 $117,244,333 $89,785, % 12 $3,378,866 $112,628,867 $84,677, % 12 $3,144,850 $104,828,333 $76,037, % 12 $3,148,948 $104,964,933 $73,111, % 12 $3,187,000 $106,233,333 $70,593, % 12 $3,238,533 $107,951,100 $68,057, % 12 $3,475,812 $115,860,400 $70,094, % 12 $3,634,383 $121,146,100 $71,150, % 12 $3,832,421 $127,747,367 $72,846, %, 3.75% 9, 3 $4,276,755 $134,508,593 $74,787, % 12 $5,257,061 $140,188,293 $75,797, % 12 $5,503,666 $146,764,427 $77,077, % 12 $5,608,963 $149,572,347 $76,789, % 12 $5,666,059 $151,094,907 $76,381, % 12 $5,753,589 $153,429,040 $75,885, % 12 $5,983,105 $159,549,467 $76,346, % 12 $6,385,246 $170,273,227 $79,223, % 12 $6,634,842 $176,929,120 $81,039, % 12 $6,582,256 $175,526,827 $78,605, % 12 $6,742,010 $179,786,933 $78,424, % 12 $6,897,094 $183,922,507 $77,599, %, 4% 11, 1 $7,473,258 $198,130,927 $80,982, % 12 $8,758,386 $218,959,650 $87,016, % 12 $9,405,387 $235,134,675 $89,989, % 12 $9,785,968 $244,649,200 $93,965, % 12 $9,026,024 $225,650,600 $85,269, %, 3.75% 11, 1 $9,473,608 $238,059,423 $87,206,294 Source: Oklahoma Tax Commission Ledger Reports 22

23 Figure 6: Estimated Retail Sales for Chickasha, Oklahoma, $300,000,000 $250,000,000 $200,000,000 $150,000,000 Estimated Retail Sales Inflation-Adjusted Sales $100,000,000 $50,000,000 $0 Source: Oklahoma Tax Commission Ledger Reports: Inflation Adjustment using Consumer Price Index from the Bureau of Labor Statistics. 23

24 Farms and Agriculture The importance of agriculture may be frequently understated in discussions about total employment and personal income. Many jobs and salaries are generated in businesses that support agriculture. For example, a farm supply store would be classified as an agricultural retail establishment, but the methods of reporting data are such that it is difficult to isolate the agricultural businesses; however, specific agricultural data was collected to indicate the magnitude of agriculture in Grady County. Table 11 contains farm income and expenditure data as reported by the Bureau of Economic Analysis, for the The volume of sales and expenditures reflects, to some extent, the relationship between agriculture and agri-related businesses. For Grady County, cash receipts and other income increased by 66.2% from , and production expenses increased by 60.7%. Farm income exceeded production expenses in 2011, leading to a positive realized net income. Farmers net gain was lower by a decrease of inventories in Figure 9 illustrates the total farm labor and proprietors income for the county from ; though volatile over the last 11, farm labor and proprietor s income has remained positive. Table 12 summarizes Census of Agriculture data for 1997, 2002, and 2007 for the county. In 2007, there were 1,850 farms in Grady County, and 608,373 total acres in farms. Approximately 86.4% of the land area in the county was farmland in Most of the farms (1,672 out of 1,850) were family or individually owned, and 822 of the farmers reported farming to be their principal occupation. The average age of farm operators in Grady County in 2007 was 57.6 of age. The market value of agricultural products sold in the county during 2007 was $139,202,000, averaging $75,245 per farm. 24

25 Table 11: Farm Income (in thousands) for Grady County, Total cash receipts and other income $115,483 $112,186 $121,954 $143,071 $154,078 $146,589 $166,905 $169,700 $126,281 $153,660 $191,974 less: Total production expenses $98,987 $94,240 $105,008 $119,483 $123,107 $133,700 $166,602 $167,700 $164,512 $149,022 $159,100 Realized net income $16,496 $17,946 $16,946 $23,588 $30,971 $12,889 $303 $2,000 ($38,231) $4,638 $32,874 plus: Value of inventory change $1,341 $4,526 ($4,971) $7,012 ($641) ($6,643) $7,292 $1,102 $314 ($7,320) ($17,527) Total net income including corporate farms $17,837 $22,472 $11,975 $30,600 $30,330 $6,246 $7,595 $3,102 ($37,917) ($2,682) $15,347 less: Net income of corporate farms $2,948 $4,569 $2,811 $9,567 $7,815 $1,480 $2,107 $939 ($27,776) ($1,274) $4,905 Total net farm proprietors' income $14,889 $17,902 $9,164 $21,033 $22,515 $4,766 $5,488 $2,163 ($10,141) ($1,408) $10,442 plus: Farm wages and perquisites $7,774 $5,403 $6,257 $8,630 $8,307 $8,034 $10,800 $12,610 $9,439 $8,821 $10,229 plus: Farm supplements to wages and salaries $825 $652 $705 $1,036 $1,036 $853 $1,335 $1,594 $1,265 $1,204 $1,226 Total farm labor and proprietors' income $23,488 $23,957 $16,126 $30,699 $31,858 $13,653 $17,623 $16,367 $563 $8,617 $21,897 Source: Bureau of Economic Analysis, Regional Economic Accounts. CA45: Farm Income and Expenses. (L) Less than $50,000, but the estimates for this item are included in the totals. 25

26 Figure 6: Total Farm Labor and Proprietors Income (in thousands) for Grady County, $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $ Source: Bureau of Economic Analysis, Regional Economic Accounts. CA45: Farm Income and Expenses. 26

27 Table 12: General Farm Characteristics for Grady County, 1997, 2002, Number of Farms 1,625 1,804 1,850 Total Acres in Farms 608, , ,373 Total Acres in Cropland , ,568 Average Size of Farm (acres) Percent of Land Area in Farms 86.5% 85.4% 86.4% Farms with Sales of $2,500 or More 1,237 1,200 1,119 Average Value of Land And Buildings per Farm $253,041 $264,348 $424,959 Farm Operators by Tenure Full Owners 262 1,140 1,203 Part Owners Tenants Farms by Type of Organization Individual or Family 1,457 1,688 1,672 Partnerships Corporations Other-cooperative, estate or trust Average Age of Farm Operators Farm Operators by Principal Occupation Farming 758 1, Other ,028 Market Value of Agricultural Products Sold (in $1,000) $89,271 $95,632 $139,202 Average Value of Products Sold Per Farm $54,936 $53,011 $75,245 Sources: 1997 Census of Agriculture, Oklahoma State and County Data, Volume 1 Part 36, U.S. Department of Commerce, Bureau of the Census, Issued March Census of Agriculture, Oklahoma State and County Data, Volume 1 Part 36, U.S. Department of Commerce, Bureau of the Census, June Census of Agriculture, Oklahoma State and County Data, Volume 1 Part 36, U.S. Department of Commerce, Bureau of the Census, July pdf 27

28 Summary This report provides an overview of the economic base of Chickasha and Grady County. Future economic development strategies should utilize the existing economic base in order to maximize the benefits to the local residents. Chickasha has realized population growth, and Grady County has seen employment and incomes rise since The three largest employment sectors for the county are state and local government (which includes city, county and school districts), retail trade, and farming. However, the county s economic base, measured using location quotients as a measure of relative productivity, is in farming, forestry, fishing and related activities, construction, and other services (except public administration). 28

29 References Hustedde, Ron, Shaffer, Ron, and Pulver, Glen (1984). Community Economic Analysis: A How To Manual. North Central Regional Center for Rural Development, Iowa State University of Science and Technology: Ames Iowa. Oklahoma Tax Commission. City Sales Tax Ledger Reports, Fiscal Years 1980 to Available online at Oklahoma Tax Commission. City Use Tax Ledger Reports, Fiscal Years 2003 to Available online at U.S. Department of Agriculture, National Agricultural Statistics Service Census of Agriculture, County Level Data: Oklahoma, Volume 1 Chapter 2, Issued March /index/ex.asp U.S. Department of Agriculture, National Agricultural Statistics Service Census of Agriculture, Volume 1, Chapter 2, June /index/ex.asp U.S. Department of Agriculture, National Agricultural Statistics Service Census of Agriculture, Volume 1, Chapter 2, July evel/oklahoma/index.asp U.S.Department of Commerce, Bureau of Labor Statistics. downloaded data 2/1/2013. Local Area Unemployment Statistics. U.S. Department of Commerce, Bureau of Economic Analysis. Regional Economic Accounts. Tables CA05, CA05N, CA25N, CA35 and CA45. downloaded on 2/1/2013. U.S. Census Bureau. Population Estimates, City and Town Totals: Vintage Accessed on October 29, U.S. Census Bureau. Population Estimates, County Totals: Vintage Accessed on 10/29/2012. U.S. Department of Commerce, Census Bureau. Vintage 1990s: Incorporated Places and Minor Civil Divisions Tables: Annual Time Series of Population Estimates Incorporated Places (Sorted Within State). Accessed on 10/29/

30 U.S. Department of Commerce, Census Bureau. State and County Intercensal Estimates ( ). Accessed on 1/5/2012. U.S. Department of Commerce, Census Bureau. Intercensal Estimates ( ): City and Town. Accessed on 10/29/2012. U.S. Department of Commerce, Census Bureau. Intercensal Estimates ( ): County. Accessed on 1/5/2012. Woods and Poole Associates, Inc State Profile on CD-ROM. 30