Carbonyx to Build Plant at Tulsa Port of Catoosa
Texas carbon alloy maker Carbonyx Inc. announced plans to build a new assembly plant at the Tulsa Port of Catoosa. The plant, which will assemble machinery for the metal production industry, will have 15 to 20 employees at a new 60,000-square-foot facility on 10.4 acres at the port. Carbonyx, a 10-year-old company, chose the site at the port primarily for its waterway access.
Economic Indicators Point to Continued Growth
September marked the ninth straight month that a leading economic indicator for the state has pointed to growth in the months ahead. Oklahoma’s Business Conditions Index, which is compiled from a monthly survey of supply managers, dipped to 60.4 in September from 64.1 in August, according to information released by Creighton University in Omaha Neb. The index is considered growth-neutral at 50. A higher number points to economic expansion over the next three to six months.
Tulsa Airport to Develop Multimodal Transportation Facility
An amendment that adds to its five-year capital improvement plan a 100-acre multimodal transportation facility at Tulsa International Airport was approved by the Tulsa Airports Improvement Trust. The proposed facility will provide for the exchange of freight between aircraft, trucking, railroad and barge companies at the nearby Tulsa Port of Catoosa.
Tulsa County, Army Corps of Engineers to Sign Agreement for River Development
The U.S. Army Corps of Engineers signed a cost-sharing agreement with Tulsa County for the implementation of the Arkansas River Corridor Master Plan. The agreement calls on the county and the corps to split the estimated $4.5 million it will cost to do a feasibility study on the master plan. Ecosystem restoration, flood-plain management and water quality will be the primary focus of the study. The master plan consists of several features along the roughly 40 miles of river within the county.
Tulsa to Accept $4.4 Million Police Grant
Mayor Dewey Bartlett announced that the city has accepted a $4.4 million federal grant that will be used to hire 23 new Tulsa police officers. Those officers will come out of the police academy of 30 officers that will start in January. The city will provide the funding for the additional seven officers. The grant covers the first three years of a four-year commitment with the city required to fund the fourth year at a cost of $1.4 million.
Bank of Oklahoma Top Bank in State
Bank of Oklahoma has regained its top ranking for market share among state banks, based on deposits. The Federal Deposit Insurance Corp. issued its annual summary of deposits report, which showed that Bok controlled 12.2 percent of deposits in the state’s banks.
Report Names Tulsa Top Housing Market for Conservative Investors
Tulsa’s housing market has gone through highs and lows, but nothing like what has been seen nationwide. Cautious investors like it, according to a new report by Local Market Monitor, a real estate analysis group based in Cary, N.C. The group rated Tulsa the top market for conservative investors. The October ranking put Tulsa at No. 1 among 315 metro areas.
Tulsa Sales Tax Revenue up Over 2009 Levels
Tulsa’s sales tax revenue for October was up 5.6 percent over the same period last year and exceeded the city’s budget estimate for the month, according to figures released by the Oklahoma Tax Commission. The city’s check from the Tax Commission, which reflects collections made from mid-August through mid-September, was $17,103,619. The city’s budget estimate for October was $15,421,000.
August Home Sales Up
Tulsa area home sales heated up in August. The Greater Tulsa Association of Realtors reported that 738 homes changed hands in August, up 5.4 percent from July. The median sales price fell slightly to $131,000, though it’s still well above the $127,652 median recorded a year earlier.
Oklahoma’s September Collections Exceed Expectations
The state’s fiscal outlook continued to improve modestly in September as general fun collections exceeded expectations and 2009 totals by small margins. The state treasurer said September collections came in at $459.7 million, which was 6 percent above the same month a year ago and 2 percent above the projected amount. The total put the state at $45.4 million, or 4 percent, above estimates for the first three months of the fiscal year that began July 1.
TU to Receive $7.5 Million Gift
The University of Tulsa’s nationally known petroleum engineering program is receiving its largest gift ever from a graduate who credits the school with his business success. The gift will be split into two endowments. One, the $4 million McDougall Endowed Chair, will fund a director for the school and create research partnerships with oil and gas firms. The second endowment will support the petroleum engineering faculty through salary supplements and research incentives.
Sale of Former City Hall Completed
The former city hall building is on its way to becoming The Plaza, a 200-room hotel with 20 apartments. The property includes the 40-year-old, 11-story city hall building, the nearby single-story Francis Campbell building, and 250 parking spaces. The $25 million project will create a hotel, plaza area with retail, a swimming pool, an event hall, areas for concerts as well as other amenities.