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Stronger Economies Together
Western Oklahoma I-40 Corridor
Western Oklahoma I-40 Corridor

Regional Team Meeting - Module 6

March 13, 2013 at Southwestern Oklahoma State University Conference Center.

The Center for Economic and Business Development was the host for this meeting.  The meeting began with a review of Module #5 and looking at the top industry clusters for the region.   Energy and Agriculture are the clearly the leaders for the region followed by Healthcare and Business/Financial.  In addition we included the advanced materials cluster to incorporate potential aerospace activity in the region.
Module #6 focused on where the dollars are leaving the region through economic leaks.  

As a region we need to take advantages of existing businesses to address economic leakage.  This is accomplished through expansion of existing businesses and looking to where supplies are purchased to operate those businesses.  A connection is built for regional demand to regional supplies.  Another term for this is import substitution.  “Gap analysis” charts for each of the regional clusters of interest were displayed, showing import substitution opportunities for specific industries within each cluster.  These charts are shown below.
Click on chart to enlarge
Strategies for “plugging the leaks” in each cluster included assessing the current situation and using the C.A.R.E. acronym:  Create, Attract, Retain, and Expand.  

The team broke out into small groups to explore and discuss leakages in our identified clusters.  Some specific businesses that were targeted in the small group discussion included:

  ●  retention and expansion of soap and detergent manufacturing

  ●  machine shops for expansion

  ●  expanding gypsum processing for pharmaceuticals and wallboard

  ●  healthcare and health supplement retail creation

  ●  retirement centers and long-term care expansion

  ●  attracting energy and healthcare corporate and regional management/administrative offices

The next meeting will take place on April 10 in Burns Flat.
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