By John Dobberstein, Editor
A recent economic analysis by a payments firm found Broken Arrow is among the fastest-growing municipalities in the U.S. for small business activity.
The report was released by bill.com, a financial operations platform that powers almost 500,000 small- and medium-size businesses (SMBs) and has more than 7 million members.
The firm ran an analysis of accounts payable spending, or business-to-business payments, sent by SMBs of 2 to 200 employees from the largest 342 U.S. cities with a population of 100,000 or more.
“This data helps us to better understand the effects of recent changes on America’s large and midsize cities, including population migration and new business creation shifting to midsize cities,” bill.com said. “This is timely given new federal policies this year, a dynamic trade environment, and the social and economic legacies of COVID-19.”
The firm says the list of the fastest-growing midsize cities has changed noticeably since tariffs were introduced, which suggests midsize cities are attracting a larger number of SMBs.
Only 10 of the 25 fastest-growing cities in May 2025, compared to January 2025, were on the list of the 25 fastest-growing cities when comparing May 2025 to a year earlier. In other words, more than half of the cities that were growing the fastest over the past year are no longer leading the pack.
Of the 50 largest cities by population, none make the list of the fastest-growing cities in May 2025 compared to the same month of the previous year. This year, the fastest-growing payments were from the following cities, all midsize: Mesquite, Texas; El Monte, Calif.; South Fulton, Ga.; Quincy, Mass. and Broken Arrow.
“Several factors are driving the increase in payments from midsize cities. Many offer a nicer climate that attracts both residents and businesses. Others are seeing strong sector-specific growth that attracts skilled workers,” bill.com says. “Business-friendly local governments, better public services, safer neighborhoods, and stronger schools and infrastructure all contribute to their appeal. On top of that, a lower overall cost of living, including more affordable housing, makes midsize cities an increasingly attractive option for growing businesses.”
The firm specifically mentions the retirement of the Baby Boomer generation has contributed to the migration of Americans from large to midsize cities like Beaumont, Texas, Broken Arrow and Pompano Beach, Fla.
Contributing to this exodus is the widespread adoption of working from home. This trend has partially reversed over the last two years. As long as employees do not need to be physically present in offices, they are free to work remotely from smaller cities.
Broken Arrow and Norman are among the fastest-growing large and mid-size cities in 2025 since the COVID-19 pandemic and that trend has held true in the last year as well.
Oklahoma City has seen payment growth increase 122% since the pandemic, but it has decreased in the last year. Tulsa increased by 316% since 2020, but growth has cooled since January.
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