July 2019
Tribes have $13 billion impact on state
According to a new study from the Center for Native American and Urban Studies at Oklahoma City University, Oklahoma's 38 federally-recognized tribes had a $13 billion economic impact in 2017. Tribal direct employment exceeds 50,000 people, and in total, tribes support 96,177 jobs. Read more.
Aerospace firm moves office employees downtown
Triumph Aerospace Structures, a division of Pennsylvania-based Triumph Group Inc., is relocating 85 employees from the Tulsa International Airport to the Philcade Building in downtown Tulsa. Employees making the move include engineering, product support, supply chain, quality and contracts. Read more.
Tulsa manufacturer awarded state’s 10th NASA Research Grant
Infinite Composites Technologies was one of 363 proposals and the only Oklahoma company selected by NASA for a Small Business Innovative Research contract. Small Business Innovative Research grants are a highly competitive funding source used to advance the country’s research in science, technology, engineering and mathematics. Read more.
Museum of Popular Culture groundbreaking this fall
The $45 million Oklahoma Museum of Popular Culture, referred to as OKPOP, is expected to break ground this fall in the Tulsa Arts District. The museum is dedicated to the creative spirit of Oklahoma’s people and the influence of those artists on popular culture around the world. Read more.
State’s economic index moves above neutral in June
Oklahoma’s overall economic index hit 54.9 in June, compared with 48.9 in May, according to the Creighton Economic Forecasting Group. Growth neutral is 50, and a number greater than 50 indicates growth over the next three to six months.
State revenue up in June
State revenue maintained its two-year upward trend through the end of the budget year according to state treasurer Randy McDaniel. The 2019 fiscal year ended June 30 with gross revenue up almost 12% from 2018. Gross revenue for the month of June was 4.7% higher than for the same month a year ago.
Osage Nation announces plans for second hotel tower
Osage Casino Hotel-Tulsa announced a $28 million hotel expansion that will add 145 guest rooms. This expansion follows last year’s $160 million renovation, which included gaming, 141 hotel rooms, banquet rooms, an event center and pool area. The new, six-story tower is expected to be completed in August 2020. Read more.
$639 million Improve Our Tulsa package detailed
Under the latest proposal, the $639-million capital improvements package would be broken into three separate ballots. Street work and other transportation projects totaling $427 million, would be on one ballot. A second ballot presents $193 million in projects funded through a temporary sales tax including capital equipment. The third ballot would create a permanent, separate sales tax that would go into the city’s Rainy-Day Fund.
Local developer proposes housing for former Laura Dester site
A local developer has submitted an $11 million, three-phase proposal for the former Laura Dester site that is set for demolition. The proposal calls for the conversion of the five blighted buildings into mixed-income apartments, a new three-story, mixed-use building and 14,000 square feet of new town homes and six to eight smaller cottages.
Tulsa Tech takes programs off campus
The number of Tulsa Tech’s off-campus programs has increased drastically over the past seven years. During the 2012-13 school year, Tulsa Tech offered eight programs to about 520 students at area high schools. During the 2018-19 school year, 20 programs were offered to about 1,350 participating students. Tulsa Tech has seen a 40% increase in student enrollments over the past three years.
Downtown development and investment continues upward trend
Approximately $133 million in new and renovated office space is in the pipeline for downtown Tulsa. With limited amounts of space downtown companies are now looking for new and innovative ways to find or build space that meets their requirements. Recent projects include WPX Energy’s announced $100 million, 11-story headquarters on the block formerly occupied by Spaghetti Warehouse. Other significant projects include the new, six-story headquarters building for Vast Bank which is currently under construction and two leases, totaling 43,000 square feet in the recently renovated Hartford Building.
Gilcrease Expressway contract awarded
The Oklahoma Turnpike Authority awarded a nearly $261 million contract for construction and financing on the west leg of the Gilcrease Expressway. The project involves construction of five miles of new, four-lane highway. Work is expected to start by the end of the year and be completed by February 2022.
