Aerospace and Defense Continue Rapid Growth in 2024 With Almost $150 Million in New Capital Investment

The Oklahoma Department of Commerce and ACES (Aerospace Commerce Economic Services) announced today that Oklahoma’s fastest-growing industry, Aerospace & Defense, experienced another year of massive growth in 2024 after securing $146.6 million in new capital investment. That investment comes from 25 new or expanding businesses in Oklahoma, creating 1,007 new jobs.

“The number of aerospace and defense companies we’ve seen invest in Oklahoma is incredible,” said Evan Brown, Executive Director of EDGE. “It’s the fastest-growing industry because of our state’s business-friendly policies and dedication to diversifying our economy. Oklahoma is quickly becoming a national leader in defense manufacturing and aerospace technologies.”

The state has invested $9.35 million in ACES since the program was created in 2018. To date, ACES has helped secure over $2 billion in capital investment (a 216% ROI), 126 project wins and 8,915 new jobs. Over the past decade, Oklahoma has seen a 125% increase in aerospace exports.

“The mission of ACES is to grow Oklahoma’s aerospace and defense industry by supporting existing businesses and attracting new ones,” said Leshia Pearson, Director of ACES. “The growth we’ve seen is remarkable. These companies are bringing high-wage, high-skill jobs to our state as Oklahoma continues to be at the forefront of emerging technologies in this industry.” 

Read the full ACES annual report here.