May 2017
Faith Technologies Moves into Larger Space
Faith Technologies, a national leader in electrical planning, engineering, design and installation has relocated to a larger office in Tulsa to accommodate its growth. The new facility totals about 17,000 square feet, approximately 7,000 more than its previous location. The Tulsa operation now offers training space which serves as one of three training locations for Faith’s internal apprenticeship program.
Helmerich & Payne to Acquire Drilling Technology Company
Tulsa-based drilling company Helmerich & Payne announced its plans to acquire Motive Drilling Technologies in Dallas Texas. Motive has a proprietary, algorithmic drilling guiding system that helps increase well production by having smoother well bores and more accurate well placement, which drives down drilling costs for Helmerich.
Tulsa’s Southern Hills Lands Two PGA Championships
The PGA will be returning to Tulsa and has targeted Southern Hills Country Club for two different major championships. The Senior PGA Championship, reserved for PGA members age 50 and older, will be at the country club in 2021. The other event, the prestigious PGA Championship will be held at Southern Hills sometime between 2024 and 2030. The PGA Championship will be making a record-setting fifth stop at Southern Hills after hosting tournaments in 1970, 1982, 1994 and 2007.
Zarrow Foundations Nationally Recognized for Public Partnerships
The Anne and Henry Zarrow Foundation and Zarrow Families Foundation were recently named winners of the 2017 HUD Secretary’s Award for Public-Philanthropic Partnerships. The award honors innovative and impactful cross-sector initiatives that have increased the quality of life for low- and moderate-income Americans living in urban, suburban and rural communities.
Port of Catoosa Hosts ‘Who Works the Rivers’ Career Fair
Giving students an idea of what careers are available in the maritime industry is the mission of the Who Works the Rivers program. The fair, sponsored by the nonprofit RiverWorks Discovery and held for the first time in Tulsa in early May, hosted about 150 area juniors and seniors. Students from Bixby, Jenks, Claremore, Pryor and Owasso attended the inaugural event at the Tulsa Port of Catoosa. Tulsa is the 15th city where the career exploration event has been held.
Williams Cos. First Quarter Earnings Show Dramatic Increase
Williams Cos. reported first-quarter earnings of $373 million after markets closed in early May. During the same quarter a year ago, the Tulsa-based pipeline company reported a net loss of $65 million. According to Williams, the favorable change year over year was driven by a $254 million increase in investing income as well as a $171 million improvement in operating income.
Crowne Plaza Tulsa Southern Hills Finishes Extensive Renovation
The Crowne Plaza Tulsa Southern Hills in south Tulsa is putting the finishing touches on a $5 million renovation that has brightened and uncluttered its former look. Its 286 guest rooms have been updated and public spaces such as the restaurant and lounge have been revamped. No detail was spared on the 11-story facility which was built in 1982 across from Oral Roberts University. The hotel is near the growing Tulsa Hills retail corridor and the recently expanded River Spirit Casino.
Former Morton Site Begins $23 Million Transformation
The Tulsa Development Authority signed an agreement that will repurpose the historic Morton Hospital site and inject $23.8 million in new office, commercial and residential construction into the Greenwood District. Tulsa native and Houston developer Michael Smith, doing business as Morton Reserve Properties, submitted plans for the project. The agreement also calls for Smith to preserve the former hospital building as a three-story, 12,000-square-foot space for office and commercial use. Construction on the 18-month project should begin in early 2018.
Tulsa Regional Chamber to Visit Fort Worth During Eighth Intercity Visit
The Tulsa Regional Chamber, community and business leaders will be heading to Texas in October in an effort to gain insight into how Fort Worth has developed the Trinity River and successfully differentiated itself from Dallas. The trip represents the eighth time the group has traveled to study best practices in cities deemed similar to Tulsa.
Hotel Indigo in Downtown Tulsa to Begin Construction in June
Officials are scheduled to break ground in June on an $18 million boutique hotel in downtown’s Blue Dome District. Hotel Indigo, a 106-guest-room, seven-story facility, will mark the first new construction in the proposed mixed-use development at Santa Fe Square. The hotel, 131 Elgin Avenue, will feature a 1,500-square-foot meeting room, an upscale restaurant and bar with a private dining area and a state-of-the-art fitness studio.
State Gross Receipts Up Three Percent
Oklahoma took in more state revenues in April than it did in the same month last year as the state’s economy continued to show signs of a rebound. The state’s gross receipts for April were about $1.2 billion, up $34.1 million or 2.9 percent, compared to April 2016. This is the third time in the last four months that state tax collections have grown.
Two New Hotels Planned for Midtown Tulsa
Champion Hotels and Development, through Sunny Investment Properties, is investing $19 million to construct a Residence Inn by Marriott at 4522 E. Skelly Drive and a Home 2 Suites by Hilton at 4524 E. Skelly Drive. The two new hotels will bring the total number of Champion hotels to five on Skelly Drive, joining a Hilton Garden Inn, Holiday Inn Express and Comfort Inn & Suites. The two hotels, collectively having 192 rooms, will take about 18 months to complete.
