Feb 03 2025 2 mins
Oklahoma is bracing for a year of economic challenges and policy changes as the state legislature kicks off its 2025 session. Governor Kevin Stitt has outlined his priorities, focusing on tax cuts, energy growth, and business courts[4]. The Greater Oklahoma City Chamber has also presented its legislative priorities, emphasizing county government reform and the retention of economic development programs crucial for attracting and expanding businesses in the state[5].
Economically, Oklahoma is expected to mirror national trends, with slower growth and persistent inflation. The Center for Applied Economic Research at Oklahoma State University forecasts a 2% GDP growth for 2025, down from 2.8% in 2024, and inflation exceeding 3% due to anticipated tariffs and reduced immigration[1]. The state's energy sector, a significant contributor to its economy, faces a lagging recovery, with energy prices expected to remain subdued.
On the environmental front, Oklahoma is experiencing the effects of La Niña, which is expected to bring above-average warm and dry conditions for the rest of the winter season. This could exacerbate drought conditions in the winter and spring months, according to the National Weather Service[2].
In community news, the focus remains on education and infrastructure projects. However, specific developments in these areas are yet to be highlighted in the current legislative session.
Looking Ahead:
- The legislative session will continue to unfold, with key bills on tax cuts, energy growth, and business courts being debated.
- The impact of La Niña on Oklahoma's weather and agriculture will be closely monitored.
- Economic indicators will be watched closely as the state navigates slower growth and inflation challenges.
- The Greater Oklahoma City Chamber's legislative priorities will be a focal point for business and economic development discussions.
Economically, Oklahoma is expected to mirror national trends, with slower growth and persistent inflation. The Center for Applied Economic Research at Oklahoma State University forecasts a 2% GDP growth for 2025, down from 2.8% in 2024, and inflation exceeding 3% due to anticipated tariffs and reduced immigration[1]. The state's energy sector, a significant contributor to its economy, faces a lagging recovery, with energy prices expected to remain subdued.
On the environmental front, Oklahoma is experiencing the effects of La Niña, which is expected to bring above-average warm and dry conditions for the rest of the winter season. This could exacerbate drought conditions in the winter and spring months, according to the National Weather Service[2].
In community news, the focus remains on education and infrastructure projects. However, specific developments in these areas are yet to be highlighted in the current legislative session.
Looking Ahead:
- The legislative session will continue to unfold, with key bills on tax cuts, energy growth, and business courts being debated.
- The impact of La Niña on Oklahoma's weather and agriculture will be closely monitored.
- Economic indicators will be watched closely as the state navigates slower growth and inflation challenges.
- The Greater Oklahoma City Chamber's legislative priorities will be a focal point for business and economic development discussions.