Limco Airepair to add 150 Jobs in Tulsa
Limco Airepair Inc., a Tulsa aerospace manufacturer, is adding 150 jobs to its 180-member workforce, according to company and chamber officials. According to the Tulsa Metro Chamber, the 150 new jobs will contribute about $16.6 million annually in goods and services to the area economy. That in turn, will support another $16 million in goods and services. Limco’s customers are half military and half commercial and equal parts manufacturing and maintenance, repair and overhaul.
Tulsa’s Future Job Creation Ahead of Estimates
More than 4,000 of the 8,200 jobs that were announced this year as part of the Tulsa Metro Chamber’s Tulsa’s Future initiative have an annual income more than $50,000. The first-year job numbers are ahead of estimates set by Tulsa’s Future five-year goal of 10,000 primary jobs at an annual salary of $50,000 or greater. This year’s high-value jobs and their spinoff employment have an estimated annual income totaling more than $295 million.
State Revenue Sees Big Increase
State gross revenue collections for November were 13.2 percent higher than last year, according to the state treasurer. The increase represents the fourth time in the past seven months that collections grew by more than 10 percent over the prior year. To-date, gross state revenues have grown for 21 straight months. Gross income tax collections brought in nearly $241.5 million, an increase of 14.5 percent from November 2010. Sales tax collections generated $321.6 million, or a 7.4 percent increase above November of last year.
American Bank to Build New Office Building/Headquarters
Tulsa-based American Bank & Trust Co. has begun construction of a new corporate headquarters on the northwest corner of 61st Street and Yale Avenue. When finished in late 2012, the state-of-the-art, eight-story building will have 75,000 square feet of space. The building will house the company’s lending, trust and corporate offices, drive-through, parking garage as well as space for other office tenants.
OU and TU Announce New Medical College
As a joint venture, the University of Tulsa and the University of Oklahoma-Tulsa have announced the creation of the Tulsa School of Community Medicine. The facility will be located downtown in the former Hartford Building. TU will own the building and provide the basic sciences education, while OU will provide the accreditation and clinical elements. The school is anticipated to have more than 400 students and faculty at full operation.
Oklahoma Ranked 17th in Population Growth
Oklahoma added 40,157 new residents between April 2010 and July 2011 and now has a population of 3,791,508 according to figures from the U.S. Census Bureau. The 1.07 percent increase in population ranks Oklahoma 17th in population growth rate among the states, just ahead of Hawaii and just behind Idaho. Oklahoma is currently ranked as the 28th most populous state in the country.
Lighting Project Planned for Broken Arrow Expressway
The first phase of a $250,000 street lighting project began in early December for the eastern portion of the Broken Arrow Expressway. The expressway currently lacks lighting from the U.S. 169 interchange through the Broken Arrow city limits. Contractors will install pole-mounted lights into the dividing wall of the highway from 193rd East Avenue to Lynn Lane Avenue. The job is expected to be complete by Jan. 13th. The final phase will go up for bid next spring.
Syntroleum Helps Supply Navy with Biofuel
The U.S. Navy will use its biggest quantity of renewable fuel ever after purchasing 450,000 gallons from Dynamic Fuels LLC, a joint venture between Tyson Foods and Tulsa-based Syntroleum Corp. Reports indicate the fuel will be used in Navy ships during war games, while some planes will use algae-based biofuel. The company had previously provided the U.S. military with fuel for testing. Other clients testing the fuel include KLM Royal Dutch, Alaska Airlines and Finnair.
Tax Reform Among Governor’s Legislative Goals
Tax Reform will be among the governor’s top legislative goals when lawmakers return to the Capitol in February. Gov. Mary Fallin plans to look at the Oklahoma tax structure to gradually reduce the state’s income tax so that Oklahoma can become more competitive with other states in the region. Last year, Fallin was able to keep her promises to the business community while passing a number of measures designed to improve the state’s business climate, including lawsuit reform.
Tulsa Sales Tax Revenue Rises by 14.2 percent in December
Tulsa’s sales-tax revenue jumped 14.2 percent in December compared to the same month last year, in part because the city captured its share of Tulsa County’s “4 to Fix” tax when it expired. As of Oct. 1, of the overall 8.517 percent tax rate, the city’s portion went from 3 percent to 3.167 percent and the county’s portion went down from 1.017 percent to 0.85 percent. The state’s share remained at 4.5 percent. City voters in 2008 approved assuming the “4 to Fix” tax share when it expired to help fund the $451.6 million Fix Our Streets initiative.
Reasor’s to Open in Sand Springs with 200 New Jobs
Reasor’s, a regional supermarket chain, plans to open its first store in Sand Springs in 2012 at a former Wal-Mart site. The 65,000-square-foot store will be on the northeast corner of 41st Street and Oklahoma 97. Reasor’s will occupy two-thirds of the site with Tractor Supply Co. occupying the remainder of the building. Reasor’s expects to invest $4 to $5 million renovating the building and will begin hiring in April, ultimately employing around 200 people at the new store.
I-244 Reconstruction Project Financing Approved
The State Council of Bond Oversight gave approval for the financing for a rehabilitation project along Interstate 244 east of downtown estimated to cost around $37 million. The east and west lanes of Interstate 244 from Sheridan east to the interchange of Interstate 44 will be reconstructed. The project is 4.3 miles long, will begin in early January and is expected to take 14 months to complete.
Employment Outlook in Tulsa Tied for 5th Best in Nation
The Tulsa area’s employment outlook for the first quarter of 2012 is tied for fifth best in the nation, according to the latest results of the Manpower Employment Outlook Survey. According to the quarterly survey, 13 percent of the companies interviewed plan to hire from January through March, while 2 percent expects to reduce staff. Another 78 percent expect to maintain their current work force levels. The area’s net employment outlook of 11 percent – calculated by taking the percentage of employers anticipating an increase in hiring minus the amount looking at decreasing staff – was among the strongest in the nation.
TCC Entrepreneur Program Helps Local Startups
Launch is a non-credit, nontraditional startup program that helps a select group of entrepreneurs turn their business ideas into reality. TCC is gearing up for Launch IV and is accepting applications through mid-January for its next session. The program utilizes local business leaders and entrepreneurs to guide participants through critical steps required to take ideas to the marketplace. Participants meet in the community with graphic artists, lawyers, bankers, and other vendors needed in the startup process.