Garmin Opens Tulsa Research and Development Facility
Garmin, a worldwide maker of GPS-enabled devices for cars, boats, airplanes and portable consumer use, has opened a research and development facility in Tulsa. The new location is already operational and will eventually employ 30 people. Garmin located the facility in Tulsa to take advantage of available engineers in the area. The Tulsa facility will focus on development software and hardware for marine products and should be fully operational by the end of summer.
Tulsa Firm Expands - Will Receive Quality Jobs Benefits
Streetlight pole manufacturer Ameron International Corp. is eligible for up to $2.5 million in state Quality Jobs Program incentive payments if it fulfills expansion plans in Tulsa over the next decade. Ameron will gain back the maximum amount of $2,501,541 if it hires up to 129 people in Tulsa. Ameron’s expansion plans also include construction of a new, 75,000-square-foot facility in north Tulsa.
Gunnebo Johnson to Expand Tulsa Operation
Gunnebo Johnson is in the midst of a huge contract and the builder of crane components will be looking for more than 50 people to help do it. The company is currently in the middle of a $10.6 million project producing parts for a massive marine crane called the Asian Hercules III. Gunnebo, which manufactures equipment for cranes in the construction and energy industries, is contracted to build the lifting tackle – the hooks and pulleys that raise and lower loads – for the Asian Hercules. Gunnebo currently employs 200 in Tulsa.
West Corp. to Hire 100 Customer Service Representatives
West Corp. plans to hire more than 100 full-time customer service representatives, as well as several staff and management positions at its Tulsa office. The new positions are the result of an expansion by a West Corp. client. Omaha, Neb.-based West Corp. already employs 400 people at its Tulsa center, which has been open since 1997.
Oklahoma Ranked No. 1 Location Globally for Oil & Gas Investment
Oklahoma’s regulatory climate, fiscal terms and quality of infrastructure help make it the most attractive place in the world to invest in the oil and gas business, according to worldwide survey of energy executives representing 529 companies. The Fraser Institute’s Global Petroleum Survey 2012 ranks Oklahoma number one among 150 locations worldwide as the best location for oil and gas investment.
Business Index Reports Continued Growth for Oklahoma
A leading economic indicator continues to show future growth for Oklahoma, according to economists at Creighton University in Omaha, Neb. The state’s Business Conditions Index came in at 56.8 in June. The index, taken from a survey of businesses, is derived from new orders, production or sales, employment, inventories and delivery lead time. A number greater than 50 signals expansion in the next three to six months.
Tulsa Metro Ranked 37th for First-Quarter Economic Recovery
Growth in manufacturing and energy have contributed to a steady upturn for the Tulsa metro, which ranked 37th overall for its economic recovery in the first quarter of 2012, according to data from the Metropolitan Policy Program and the Brookings Institution. Tulsa ranked No. 55 in the fourth quarter of 2011. The report looks at employment, unemployment, output and the housing price index.
Owasso Approves Rezoning to Accommodate Proposed Sam’s Club
The Owasso City Council approved the rezoning of 30 acres to accommodate a Sam’s Club final plat that was approved in the spring. Operated by Wal-Mart Stores Inc., the store will have 136,000 square feet. It is expected to generate $1.8 million to $2.2 million in annual sales-tax revenue and will employ about 300 people.
University of Tulsa Purchases Skelly Mansion
The University of Tulsa is purchasing the Skelly Mansion near downtown Tulsa as the primary residence for the school’s new president, Geoffrey Orsak and his family. The mansion, which sits on the southeast corner of 21st Street and Madison Avenue, will be renamed Skelly House. Orsak and his family will live on the second floor of the home, and the university will use the ground floor for meetings and special events.
Walgreens to Acquire USA Drug Including 30 Locations in Tulsa Area
Walgreen Co. is set for a major expansion in the Tulsa area after agreeing to acquire Little Rock-based, USA Drug, the parent company of locally-operated May’s Drug, Med-X Drug and Drug Warehouse. The $438 million deal will give Walgreens 30 more stores in the Tulsa area, where national competitor CVS has been increasing its presence. The deal is set to close on Sept. 1.
State Revenue Rises 7.7 Percent in Fiscal 2012
Gross-revenue collections for the last fiscal year were 7.7 percent higher than the previous year, according to figures released by state Treasurer Ken Miller. Gross-revenue collections brought in $10.99 billion during fiscal year 2012, which ended June 30. The figure represents an increase of $782.03 million from the previous fiscal year. The revenue includes income, sales, gross-production and motor-vehicle taxes and other sources of income.
Tulsa Sales Tax Check Up 14 Percent
The city of Tulsa’s sales tax check for the month of July jumped nearly 14 percent over the same period last year, according to figures released by the Oklahoma Tax Commission. The city received a check from the commission for $19,493,777, up from last year’s check for $17,120,560. The money was collected on purchases made from mid-May to mid-June.
Downtown Brady District Park Nearing Completion
By the first of September, a square block park in the Brady District will be complete with grass and foliage, water features and fountains, and a covered pavilion, stage and canopy ready to host musicians and artists. The new park will be named Guthrie Green in honor of Oklahoma singer and songwriter Woody Guthrie. Final cost for the new park is estimated to be about $8 million. The park is adjacent to the Woody Guthrie Center which will be open by year’s end.
GreenArch Apartments Begin Construction Downtown
Construction began in June on the GreenArch apartment complex in downtown Tulsa, a $9.5 million project that will combine 70 apartment homes with nearly 9,500 square feet of retail space on the southwest corner of Archer Street and Greenwood Avenue. Rents are expected to be at or near $1 per square foot with apartments ranging from smaller studios to two-bedroom apartments of 700 to 1,300 square feet. Construction should be complete by mid-2013.
Apartment Rents Increasing Due to Increased Demand
Due to rising apartment occupancies, rents in the Tulsa area are headed upward. Depending on the type of floor plan, Tulsa-area apartments are now $11 to $14 more per month to rent than they were just six months ago, according to a new survey from CB Richard Ellis Oklahoma. The higher prices are largely the result of improved occupancy, which rose a full percentage point from a year ago to 92.5 percent. One-bedroom apartments are averaging $488 per month with two-bedroom units ranging from $611 to $654.
Jenks Applies for $11.4 Million in Federal Transportation Funds
Jenks will be in the running for as much as $11.4 million in federal transportation funds for three major projects. The Jenks City Council approved the projects that will be evaluated and ranked by the Indian Nations Council of Governments along with other suburban projects competing for the federal funding. If approved, the city would be required to pay 20 to 25 percent of the total project cost, which likely would be proposed for funding in a bond issue.
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Garmin Opens Tulsa Research and Development Facility