Created Jobs and Reduced Unemployment.
Creating jobs is Governor Fallin’s number one priority. By embracing pro-growth policies like tax cuts, reining in the size of government, and reducing the regulatory burden on job creators, Oklahoma’s economy has soared.
- Reduced unemployment rate from 7.0% to 5.3%. Since January 2011, Oklahoma’s unemployment rate has fallen farther and faster than the national average.
Grew Personal Income.
Governor Fallin is working hard to make Oklahoma more prosperous. Her pro-business policies are not only helping to create more jobs, they are also helping to increase personal wealth.
- Helped grow personal income by 8.1%. Oklahoma's personal income has grown by 8.1% between early 2011 and the present, which ranks 4th in the nation over the time period. Comparatively, the national growth in personal income was 5.7%.
Governor Fallin’s tax cuts will stimulate Oklahoma’s economy while helping the state to attract and retain businesses and jobs. It will also make Oklahoma more competitive with its neighbors, especially Texas (with no income tax) and Kansas (cut its income tax below 5 percent).
- Reduced taxes from 5.5% to 4.85%. Governor. Fallin allowed an income tax cut to take place in 2011, and then passed another tax cut bill in 2013. Under Governor Fallin’s leadership, taxes will be reduced from 5.50% to 4.85%, putting over a billion dollars back into the private sector by 2016.
Eliminated Job-Killing Cost Drivers to Business
Oklahoma’s skyrocketing workers’ compensation costs and hostile legal climate were driving small businesses and medical professionals out of the state. Governor Fallin lead the charge for reforms that addressed these problems, created more jobs and helped to keep good doctors in Oklahoma.
- Passed comprehensive lawsuit reform: Governor Fallin passed a cap on non-economic damages and rewrote the laws governing the tort process. She called a special session in 2013 to reinstate lawsuit reform measures tossed out by Oklahoma courts. Those measures are working -- the number of medical malpractice suits has declined dramatically since 2009.
- Rewrote the laws on workers’ compensation: Governor Fallin worked to completely overhaul the workers compensation system, moving from a judicial system to an administrative system. The resulting system treats injured workers fairly while reducing costs to small businesses. The National Council on Compensation Insurance estimates the new system may save businesses as much as 14% on workers’ compensation costs.
Matched Skilled Workers with Employers
Oklahoma’s employers have job openings for skilled workers, especially returning veterans with technical skillsets. Governor Fallin helped match employers with Oklahomans looking for work, further reducing the unemployment rate.
- Launched OKJobMatch.Com: Created a new tool to connect employers and job seekers. OKJobMatch currently has over 100,000 resumes.