Through 2014, Ada experienced 12 straight months of sales tax growth, collecting over $15 million, a 6% increase over 2013. Ada was the only community among McAlester, Durant, and Ardmore to grow as substantially in sales tax collections.
Meanwhile, unemployment continued to fall, as did workforce across the state over the course of 2014. Unemployment in Ada fell to 3.4%, with less than 700 people actively seeking work. Helping companies achieve their workforce needs will continue to be a priority over the next few years. Nationally and in both rural and urban areas, the focus is shifting toward attracting skilled professionals. A Forbes article by Andrew Levine states the emerging best practices of talent attraction, including "early and active participation of area companies in the design and execution of a talent attraction campaign" and " well organized, visually compelling, informative websites offering links to specific job offerings".
Cost of living continued to fall below national averages, particularly in housing and utilities, two of the largest cost burdens. Overall, Ada came in at nearly 8% less expensive than national averages with housing only 74.5% and utilities only 83.7% of national costs. This is particularly positive for those working and living in the community and companies seeking to lower operating costs. However, the community will be examining housing quality and potential improvements, beginning in 2015. |