The Great Plains of Oklahoma was acquired from the massive Louisiana Purchase in 1803. The area was originally set aside as a Native American territory in 1834. This was partially redacted when half the area was given back to the US settlers and named the Oklahoma territory and fully redacted when the entire region became a state in 1907. Oklahoma was one of the originally wealthy US states due to its extensive oil production. Today, it still produces large quantities of oil for North America, but its natural gas production actually exceeds oil in revenue. Farming is another incredibly important industry in Oklahoma. The land produces vast quantities of wheat, sorghum, hay, cotton, and peanuts. The state’s main attractions include the National Cowboy Hall of Fame, the Will Rogers Memorial, the Cherokee Cultural Center, and Lake Texoma. Oklahoma is an low cost place to live and is a great place to go for a small business or startup strapped for initial capital.
Oklahoma’s main strength in the small business world is its incredibly cheap cost of doing business. The state’s cost of living is about 15% below the national average, and it employs low taxes with simple regulations that ensure your expenses stay low. Combined with easy access to labor, you have a perfect recipe to enable small business success.
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