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Website: http://www.OKLAHOMA CITY.net/
The economy of Oklahoma City, once a regional power center of government and energy exploration, has diversified to include the sectors of information technology, services, health services and administration. The city has two Fortune 500 companies: Devon Energy Corporation and Chesapeake Energy Corporation, several others that are in the Fortune 1000 and a number of large privately owned companies. Oklahoma City is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in Bricktown. Devon Energy revealed plans in August 2008 for a new 900-foot (270 m) tall, 1,900,000-square-foot (177,000 m2) headquarters building in downtown Oklahoma City. The new skyscraper is currently under construction and is expected to be complete in 2012.
Other large employers in Oklahoma City include Tinker Air Force Base, the federal government, the University of Oklahoma, AT&T, The Boeing Company, Xerox, United Parcel Service, Cox, and the state of Oklahoma. Six Flags at one point was headquartered in Oklahoma City but relocated to New York City on January 27, 2006.
According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product totaled $43.1 billion in 2005.
In 2008, Forbes magazine named Oklahoma City the most "recession proof city in America". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country and solid growth in energy, agriculture and manufacturing. However, during the 1980's, Oklahoma City had one of the worst job and housing markets due to the bankruptcy of Penn Square Bank in 1982 and then the post-1985 crash in oil prices.
Business Districts, and to a lesser extent, neighborhoods tend to maintain their boundaries and character through the application of zoning regulations and Business Improvement Districts (districts where property owners agree to a property tax surcharge to support additional services for the community.)
Through zoning regulations, historic districts, and other special zoning districts, including overlay districts, are established.
Oklahoma City currently has three Business Improvement Districts, Downtown, Western Avenue, and Stockyards City - also a mainstreet program.
See: Neighborhoods of Oklahoma City for information on other cultural and historic districts and neighborhoods of the Oklahoma City.
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