Capital Formation, Strategy for Marketing State Needed

Article excerpt

By Lou Anne Wolfe Journal Record Staff Reporter TULSA _ Oklahoma is one of the most competitive states for economic development, but attention needs to be given to capital formation, a marketing strategy and rural development, Oklahoma Commerce Secretary Greg Main said Tuesday.

Main, who was appointed 90 days ago by Gov. David Walters, made his remarks at the 1992 Business Legislation Forum of the Oklahoma State Chamber of Commerce & Industry in Tulsa.

Evidence that Oklahoma is competitive is the fact that it's the only state that is a finalist in competition for both a $1 billion United Airlines maintenance facility and a McDonnell Douglas Corp. facility, he said.

"I can't say that we're in the midst of a boom, but I can see fairly steady growth" that should increase as the national recession diminishes, said Main, formerly a deputy director of the Michigan Department of Commerce.

"I hope we can establish the kinds of development that will move us closer to the national average in per-capita income," one of Oklahoma's weak spots, he said.

Touring the state, Main said he was impressed by the business community's confidence in its ability to compete, and the positive attitude of business owners.

For the immediate future, Main said there's a need in Oklahoma for ways of raising funds for business growth and local infrastructure needs.

"Despite what are some fairly far-reaching and innovative approaches to building capital, we haven't really made them work the way they need to work," he said.

Consolidation of the administration of the Oklahoma Development Finance Authority and the Oklahoma Industrial Finance Authority should help, he said. …

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