Based in the sectors of aviation, energy, transportation equipment, food processing, electronics, and telecommunications, Oklahoma is an important producer of natural gas, aircraft, and food. The state ranks second in the nation for production of natural gas, and is the 27th-most agriculturally productive state, ranking 5th in production of wheat. Six Fortune 500 companies and one additional Fortune 1000 company are headquartered in Oklahoma, and it has been rated one of the most business-friendly states in the nation, with the 7th-lowest tax burden in 2007. From 2000 to 2006, Oklahoma's gross domestic product grew 50 percent, the fifth-highest rate in the nation. It had the fastest-growing GDP between 2005 and 2006, increasing from $122.5 to $134.6 billion, a jump of 10.8 percent, and its gross domestic product per capita grew 9.7 percent from $34,305 in 2005 to $37,620 in 2006, the second-highest rate in the nation. Though oil has historically dominated the state's economy, a collapse in the energy industry during the 1980s led to the loss of nearly 90,000 energy-related jobs between 1980 and 2000, severely damaging the local economy. Oil accounted for 17 percent of Oklahoma's economic impact in 2005, and employment in the state's oil industry was outpaced by five other industries in 2007.

Industry

In early 2007, Oklahoma had a civilian labor force of 1.7 million and total non-farm employment fluctuated around 1.6 million. The government sector provides the most jobs, with 326,000 in 2007, followed by the transportation and utilities sector, providing 285,000 jobs, and the sectors of education, business, and manufacturing, providing 191,000, 178,000, and 151,000 jobs, respectively. Among the state's largest industries, the aerospace sector generates $11 billion annually. Tulsa is home to the largest airline maintenance base in the world, which serves as the global maintenance and engineering headquarters for American Airlines. In total, aerospace accounts for more than 10 percent of Oklahoma's industrial output, and it is one of the top 10 states in aerospace engine manufacturing. Due to its position in the center of the United States, Oklahoma is also among the top states for logistic centers, and a major contributor to weather-related research. The state is the top manufacturer of tires in North America and contains one of the fastest-growing biotechnology industries in the nation. In 2005, international exports from Oklahoma's manufacturing industry totaled $4.3 billion, accounting for 3.6 percent of its economic impact. Tire manufacturing, meat processing, oil and gas equipment manufacturing, and air conditioner manufacturing are the state's largest manufacturing industries.

Energy

Oklahoma is the nation's second-largest producer of natural gas, fifth-largest producer of crude oil, has the second-greatest number of active drilling rigs, and ranks fifth in crude oil reserves. While the state ranked fifth for installed wind energy capacity in 2005, it is at the bottom of states in usage of renewable energy, with 96 percent of its electricity being generated by non-renewable sources in 2002, including 64 percent from coal and 32 percent from natural gas. However, since 1993, with the Oklahoma Legislature's creation of the Oklahoma Energy Resources Board, more than $38 million has been spent on restoring more than 7,800 orphaned and abandoned oil well sites across the state. Ranking 11th for total energy consumption per capita in 2006, the state's energy costs were 10th lowest in the nation. As a whole, the oil energy industry contributes $23 billion to Oklahoma's gross domestic product, and employees of Oklahoma oil-related companies earn an average of twice the state's typical yearly income. In 2004, the state had 83,750 commercial oil wells and as many as 750,000 total wells, churning 178 thousand barrels of crude oil a day. Ten percent of the nation's natural gas supply is held in Oklahoma, with 1.662 trillion cubic feet (47.1 km�).

According to Forbes Magazine, three of the largest private oil-related companies in the nation are located in the state, and all five of Oklahoma's Fortune 500 companies are oil-related. In 2006, Tulsa-based Semgroup ranked 5th on the Forbe's list of largest private companies, Tulsa-based QuikTrip ranked 46th, and Oklahoma City-based Love's Travel Shops ranked 132nd. Tulsa's ONEOK and Williams Companies are the state's largest and second-largest companies respectively, also ranking as the nation's second and third-largest companies in the field of energy, according to Fortune Magazine. The magazine also places Oklahoma City's Devon Energy as the second-largest company in the mining and crude oil-producing industry in the nation, while Chesapeake Energy ranks seventh respectively in that sector and Oklahoma Gas & Electric ranks as the 25th-largest gas and electric utility company.

Agriculture

The 27th-most agriculturally productive state, Oklahoma is fifth in cattle production and fifth in production of wheat. Approximately 5.5 percent of American beef comes from Oklahoma, while the state produces 6.1 percent of American wheat, 4.2 percent of American pig products, and 2.2 percent of dairy products. The state had 83,500 farms in 2005, collectively producing $4.3 billion in animal products and under one billion dollars in crop output with more than $6.1 billion added to the state's gross domestic product. Poultry and swine are its second and third-largest agricultural industries.

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