August 2019
American Airlines to add 400 jobs in Tulsa
American Airlines is expanding the work conducted at the world's largest commercial aviation base maintenance facility in Tulsa, resulting in the need to hire more than 400 new team members. Over the next few months, additional maintenance work will be sent to Tech Ops — Tulsa, including scheduled maintenance work on the Boeing 787 eet. This work will require the skills of more than 400 new Tech Ops team members in various areas to assist with the additional work coming to the base.
Triumph Aerospace Structures moves 85 employees downtown
Triumph Aerospace Structures, a division of Pennsylvania-based Triumph Group, Inc., recently relocated 85 employees from the Tulsa International Airport to downtown Tulsa. The company occupies 16,240 square feet on the 10th floor of the historic Philcade Building. The group in the new office is made up of engineering, product support, supply chain, quality and contract employees.
Williams sees 130% increase in second-quarter earnings
Williams reported second-quarter earnings of $310 million, or 26 cents per diluted share, representing a 130% increase over the $135 million, or 16 cents per diluted share for the same period last year. Year-to-date, the company has earned $504 million, or 41 cents per diluted share, an increase of 76% over the $287 million it recorded through the first two quarters of 2018.
36 Degrees North selects new CEO
36 Degrees North (36°N), Tulsa's downtown entrepreneurial hub, announced Devon Laney as its new CEO. Laney was most recently CEO of Innovation Depot in Birmingham, Alabama. The tech incubator grew substantially under Laney's leadership; by the end of 2018, Innovation Depot had 113 companies and generated a five-year economic impact of $2.65 billion. Since 36 Degrees North opened its doors in January 2016, the organization has served over 1,200 entrepreneurs, innovators and community leaders.
Cherokee Nation announces $30 million plan for homes and community buildings
Cherokee Nation announced a $30 million plan to fund repairs to hundreds of Cherokee Nation homes across northeastern Oklahoma, remodel several of the tribe’s community buildings and implement renewable energy projects. The plan is part of the Housing, Jobs and Sustainable Communities Act of 2019, which will go to the tribal council for final approval.
City of Jenks, residents to plan community’s future
Jenks city leaders are asking for residents' input for what Jenks will look like in the future. Community members began work on the “Horizon Jenks Comprehensive Plan” with the help of a consulting firm that specializes in community planning, urban design and economic development. Development plans will explore solutions to generate more sales tax downtown through development and address opportunities in various parts of the city, as well as updates to Jenks Riverwalk.
Hyatt Place Hotel coming downtown
Over the past year, Jim Hawkins, head of River City Development, and partner 3S Hotels Group have been converting the 13-story Boston Building into a 103-unit Hyatt Place boutique hotel. The hotel, scheduled to open this November, will be managed by 3S Hotels Group. The top floor will be a meeting space that will keep elements of the original board room in addition to featuring rooms with two to three walls of windows.
Final phase of I-44 widening begins
The final phase of a decade-old Interstate 44 widening project east of Tulsa began in early August. The $20 million project will widen the existing four-lane segment between 145th East Avenue and 177th East Avenue to eight lanes and also improve the interchange. The project is expected to be completed by late summer 2020.
Investment group buys nine-building portfolio
An affiliate of New York-based real estate investment group, Group RMC, bought nine buildings totaling more than 1 million square feet in Tulsa. This is Group RMC’s first entry into the Tulsa market, and includes the purchase of the Towne Centre, Exchange Tower, Triad I, Two Memorial Place, Corporate Place, Commerce Tower, Riverbridge Office, 51 Yale Building and Three Memorial Place. Local real estate firms commented that having an investment from an international firm like Group RMC demonstrates an extreme confidence in the strength of the Tulsa office market.
Plans for outlet mall moves forward in Jenks
Simon Property Group has purchased 51 acres from River District Development Group for $12 million. Tulsa Premium Outlets plans to build an 80-retailer outlet mall just south of the Creek Turnpike in the city of Jenks. The 340,000-square-foot development is a $117 million investment - $100 million from Simon and $17 million from the city of Jenks. The development is expected to create 800 full and part-time jobs once open in the spring of 2021.
Council approves improve our Tulsa II projects
City councilors put the finishing touches on the $639 million Improve Our Tulsa II renewal package and a public vote isscheduled for Nov. 12. The proposal includes $427 million worth of street and transportation projects, $193 million worth of capital projects and $19 million for the city’s Rainy-Day Fund. The renewal package is a continuation of the $917.8 million Improve Our Tulsa package that was approved by Tulsa voters in 2013.
City plans $11 million investment for airport properties
The City of Tulsa plans to invest $11 million into three buildings at Air Force Plant No. 3 at the Tulsa International Airport. The total facility contains more than 2.9 million square feet of industrial space, almost all of which is leased. Of the $11 million investment, $8.4 million is expected to be raised through bonds and $2 million by way of a grant through the Vision Tulsa Airport Infrastructure Fund. The other $600,000 will come from brownfield grants and a Vision Tulsa match.
