Marketing and Development Firm to Add Jobs
Majeska & Associates, a new Tulsa-based development and marketing company that serves the paving industry, announced that it is adding 26 jobs over the next three years and had been accepted into the Oklahoma 21st Century Quality Jobs program. As a 21st Century participant, Majeska is eligible to receive cash rebates up to 10 percent of its new taxable payroll. The jobs created must be at least $94,418 to qualify.
Exopack to Expand at Tulsa Port of Catoosa
Less than a year after purchase, Exopack is planning a significant expansion at its Tulsa Port of Catoosa operation. Exopack Holding Corp. has invested $6 million in the operation since buying it last July, and now the company plans to add 21 employees by the end of summer 2011. The plant just finished adding 18 employees bringing total employment to 50. Exopack makes food packaging materials.
Metro Jobless Rate Drops Dramatically
The Tulsa metro area’s jobless rate plummeted to 6.5 percent in March, the lowest in two years, according to information released by the U.S. Bureau of Labor Statistics and the Oklahoma Employment Security Commission. In March 2010, the unemployment rate stood at 8.3 percent.
Tulsa Hosts Renewable Energy Forum
Tulsa hosted the second annual Renewable Energy Forum in mid-April organized by Area Development magazine. The conference brought in nine speakers and was attended by nearly 100 economic development professionals from across the country. The conference focused primarily on renewable energies and what their growth can mean to local, regional and national economies.
Oklahoma Business Conditions Index Best in Area
March’s business conditions index for Oklahoma was the best in the nine-state region, according to a report by Creighton University in Omaha, Neb. The state’s index rose to 76.1 last month, making for the 15th consecutive month the indicator remained above 50, or growth-neutral. Compiled from a monthly survey of supply managers, the state index climbed from February’s 62.2 reading. A number above 50 points to economic expansion over the next three to six months, while a number below 50 points towards contraction.
Insurance Firm Relocating to new Downtown Office Tower
Northwestern Mutual Financial Network is moving its offices from south Tulsa to downtown to be a part of the new $100 million One Place mixed-use development near the BOK Center. Northwestern Mutual employs 55 people in Tulsa, managing all of Oklahoma and Northwestern Arkansas. The company plans to hire an additional 24 employees each year for the Tulsa operation. One Place is a square block development including an office tower, hotel, restaurants and residential units.
United Starts Nonstop Service from Tulsa to Washington DC
United Airlines launched daily nonstop round-trip service from Tulsa to Washington Dulles International Airport in early April, the first daily nonstop service offered to the nation’s capital from Tulsa International Airport. The United Express flight will provide Tulsa passengers with national and international connections at United’s Washington hub. United’s departing flight from Tulsa leaves at 12:34 p.m. daily and returns, arriving in Tulsa at 8:48 p.m.
Governor Signs Measure Restoring Aerospace Engineer Tax Credit
Gov. Mary Fallin signed a measure that’s designed to attract aerospace engineers to the state and bolster the industry. House Bill 1008 removed the aerospace job creation incentives from a list of tax credits put on hold as of July 1st. The tax credit is available to aerospace companies that hire new engineers. Average aerospace jobs pay about $55,000 a year, which are almost double the average pay in the state. Oklahoma has more than 500 aerospace companies.
Tulsa Airport Trust Approves $148.6 Million Improvement Plan
A five-year, $148.6 million capital improvement plan for Tulsa International Airport that includes major terminal and runway reconstruction projects was approved in early April by the Tulsa Airports Improvement Trust. Projects include a $31 million reconstruction of the east passenger concourse, fiber-optic network upgrades and a $10.6 million phased reconstruction of Tulsa International’s 10,000-foot main north-south runway.
Chamber Raises $16 Million for Tulsa’s Future Economic Development Program
The Tulsa Metro Chamber announced it had secured more than $16 million to help recruit 10,000 high-paying jobs to the region during the next five years. The public/private funding is for the Tulsa’s Future program, in which the Chamber aims to bring 10,000 jobs to the region that pay $50,000 or more and generate more than a $1.2 billion investment in northeastern Oklahoma over the next five years.
State’s Exports Hit Record in 2010
Oklahoma exported a record $5.4 billion in goods last year as the falling dollar made American products more attractive to foreign buyers. The state’s exports were up 21 percent over 2009 levels and surpassed the record $5 billion set in 2008, according to figures released by the Oklahoma Department of Commerce. Oklahoma’s export growth was on par with the national growth rate of 21 percent.
Tulsa and Broken Arrow Chamber Will Work Together for Economic Growth
The Tulsa Metro Chamber and Broken Arrow Chamber of Commerce signed a commitment to collaborate on regional economic growth, with the hope that additional partners and area chambers will join the effort. The agreement was created to leverage the region’s industrial concentrations, labor pools, infrastructure and pro-business government.