December 2019
Peoria-Mohawk Business Park offers free land and unique incentives
Targeting economic development for north Tulsa, the George Kaiser Family Foundation and city of Tulsa are offering an extensive incentive package for Peoria-Mohawk Business Park. Muncie Power Products became the first tenant in the roughly 120-acre park when the company announced in February that it was investing in a new 300,000-square-foot facility. GKFF and the city recently outlined an incentive package that includes free land within three miles of downtown, $10 million in public infrastructure across the entire property, up to $5,000 (per employee) in dedicated job training, transitional housing options, charitable fund matching and below-market financing. More information can be found here.
American Indian Lands Tax Credit extended
The American Indian Lands Tax Credit has been extended until December 31, 2020. The Tulsa region as well as two-thirds of Oklahoma locations qualify for special federal tax treatment due to the state’s unique Native American heritage. Businesses locating or expanding in the Tulsa area benefit by an up to 40% federal accelerated depreciation and up to $4,000 federal tax credit per qualifying employee.
American Airlines adding more aircraft maintenance jobs in Tulsa
American Airlines announced it is in-sourcing more component maintenance work in the Brake and Wheel Center at Tech Ops-Tulsa, generating nearly 30 new jobs beginning in January at the company’s largest aircraft maintenance facility. The support and overhaul support mechanic positions will be shifting from a Collins Aerospace location in Louisville, Kentucky, and will include wheel and brake component maintenance for aircraft. The announcement caps a year of growth at Tech Ops-Tulsa including the hiring of 565 previously announced maintenance positions. Read more.
Holberton software engineering school selects Tulsa for third U.S. campus
Holberton is a private software engineering school that uses an online, project-based curriculum. Holberton has three campuses in Colombia and one in Tunisia. When the Tulsa campus opens in the Arts District next year, it will become the third Holberton School in the United States. The others are in San Francisco, California, and New Haven, Connecticut. GKFF in conjunction with the Charles and Lynn Schusterman Family Foundation are offering living stipends of up to $1,500 a month for eligible Holberton students in Tulsa. The stipends do not have to be paid back if a student works in Tulsa for at least 3½ years after completing Holberton’s two-year program. Read more.
WPX Energy buying Felix Energy for $2.5 billion
Tulsa-based WPX Energy announced the $2.5 billion purchase of Denver-based Felix Energy, one of the highest quality Delaware Basin operators. The companies anticipate closing the transaction, unanimously approved by WPX’s board, early in the second quarter of 2020. Felix has about 1,500 gross undeveloped locations and 58,500 net acres in an area of the basin primarily located in west Texas. Read more.
Tulsa makes Inc. Magazine’s Surge Cities list
Tulsa ranks No. 1 in America for wage growth on Inc. magazine’s annual Surge Cities list, a guide to the best 50 cities in the United States for starting a business. Featured on the list for the first time, Tulsa was 47th overall. Wage growth was among the criteria measuring the top cities in the country on Inc.’s second annual list. Inc.’s Surge Cities partner, innovation policy firm Startup Genome, used public data as well as insights from the Inc. 5000 list of the fastest-growing private companies in America to compile the city rankings. Read more.
ORU announces $75 million fundraising campaign
Oral Roberts University has launched a $75 million fundraising campaign to continue aggressive growth at the school. This year marked the private university’s 11th consecutive year of growth, from about 3,000 students registered in 2008 to more than 4,100 in 2019. Officials plan for the Whole Leaders for the Whole World Campaign to provide funding for new buildings, including a welcome center, arts center and library, the transformation of the old library into a leadership center and scholarships for international students. Read more.
Jenks approves final plat for Tulsa Premium Outlets
The Jenks City Council unanimously approved a request by River District Development LLC to OK a preliminary/final plat of Simon Property Group’s Tulsa Premium Outlets, which anticipates opening in the spring of 2021 at East 101th Place South and South Seventh Street. The shopping center in Jenks is expected to occupy at least 340,000 square feet, according to city records. Read more.
Turner Turnpike to build $39 million interchange at Tulsa end
The Oklahoma Turnpike Authority gave its approval for a $39 million interchange modification project at the Tulsa end of the Turner Turnpike. The OTA agreed to let Director Tim Gatz enter an agreement with the Oklahoma Department of Transportation for an interchange modification where Interstate 44 and Oklahoma 66 meet. ODOT will provide $10 million for the project, said Turnpike Authority member Gene Love. The project will involve interchange modifications, pavement widening, and bridges and approaches in Creek and Tulsa counties. Read more.
Public Service Company of Oklahoma to add wind energy
Public Service Company of Oklahoma will add 675 megawatts of wind energy under a settlement filed in early December. The new wind energy facilities will complement PSO’s existing power resources, which include natural gas, wind, power purchases and coal. The facilities will be jointly owned by PSO and its sister company, Southwestern Electric Power Co., subject to regulatory approvals. The new wind energy will come online in 2020 and 2021. PSO’s share of the project investment is $908 million. Read more.
