Cherokees to Relocate Headquarters to Tulsa Area
With one acquisition, the Cherokee Nation has added 375 information technology workers to its growing business division. Cherokee Nation Businesses recently acquired ETI Professionals of Lakewood, Colo., a provider of project management and staffing solutions primarily for government agencies. The company will be renamed Cherokee Nation Government Solutions and have its headquarters moved to the Tulsa area. ETI’s employees are located in more than 40 states.
Bump in Sales Tax Revenue Seen for February
The city’s February check from the Oklahoma Tax Commission was up 3.4 percent, or $18,388,506 compared to the $17,782,439 check for the same month in 2010. The money was collected between Dec. 16 and Jan 15. The funds were 8.6 percent ($16.9 million) above the estimate for the month. For the fiscal year to date, the city is 4.4 percent or $5.7 million over its revenue forecast.
XETA Technologies to be Acquired for $61 Million
Broken Arrow-based XETA Technologies Inc., a telecom company which has been on a corporate buying spree in recent years, is now being acquired itself. PAETEC Holdings Corp., a business communications provider based in Fairport, N.Y., has agreed to buy XETA for $61 million. The purchase would make XETA an indirect, wholly-owned subsidiary of PAETEC. XETA employs 160 people in the Tulsa area and PAETEC employs 117 people in downtown Tulsa.
Airport Adopts Program to Recruit New Airlines
Airlines introducing new service at Tulsa International Airport will receive landing fee credits and discounted rental charges under a program adopted by the Tulsa Airports Improvement Trust. The program is designed to increase competition and diversify the airline base in the Tulsa market, which is served currently by American Airlines, Delta Air Lines, Southwest Airlines and United/Continental Airlines.
Tulsa Wins Grant to Hire New Firefighters
The city received confirmation that it will get a $4.2 million federal grant to hire 46 new firefighters. The grant will cover the new firefighters’ salaries and benefits for two years. The city will be responsible for providing related firefighting equipment. The city has 631 firefighters compared to 676 in December 2009. The city and the local firefighters union applied for the Staffing for Adequate Fire and Emergency Response grant through the Federal Emergency Management Agency.
Passenger Traffic Increases at Airport
Airline passenger traffic increased 4 percent, to 200,033 travelers, at Tulsa International Airport in January, compared with January 2010. In another indication of an improving economy, aircraft operations (landings or takeoffs) rose to 8,888 last month, a 12.9 percent increase from January 2010. At Jones Riverside Airport, 17,306 aircraft operations were reported in January, up 47 percent from January 2010.
Downtown Mixed-use Development Advancing
An ambitious, mixed-use project in the eastern part of downtown is a step closer to becoming a reality. The Tulsa Development Authority voted to enter into negotiations with Formaation LLC on the sale of 3.59 acres at Second Street and Greenwood Avenue, on the north edge of the East Village area. The $74 million project involves 300 lofts and 180,000 square feet of retail space under the lofts, including a 24-hour market-style grocery. The first phase involves the Hartford Building site followed by two smaller parcels at Second and Greenwood.
Williams Cos. to Split Into Two Separate Entities
Williams Cos. Inc., the 103-year-old Tulsa energy company that produces and moves natural gas on two continents, will split into two stand-alone companies later this year. The move will focus the original Williams on its midstream and pipeline infrastructure assets, while the spinoff will consolidate the exploration and production segment. Williams currently employs 1,300 locally and approximately 5,000 company-wide.
Tulsa MSA and Northeast Oklahoma Show Growth
The population of 20 counties in northeastern Oklahoma, including the Tulsa area, jumped by 8.1 percent in the past decade, the latest census shows. Tulsa’s MSA, which consists of seven counties, grew by 9.1 percent to a total population of 937,478, a gain of 77,946 people.
Holly Corp. to Merge With Frontier Oil
Holly Corp., the Dallas-based owner and operator of Tulsa’s two oil refineries, announced it has entered into a $7 billion merger agreement that would change the company’s name, top officer position and market reach. Holly plans to merge with Houston-based Frontier Oil Corp. The merged company would be called HollyFrontier Corp. and be based in Dallas. Holly has refineries in Tulsa, Utah and Mexico City while Frontier’s facilities are in El Dorado, Kan, and Cheyenne, Wyo.
House Panel Moves to Restore Aerospace Tax Incentive
A House subcommittee restored an aerospace engineering tax incentive that backers said had been useful in recruiting jobs. House Bill 1008 would remove the aerospace incentives from a list of nearly 30 tax credits that legislators suspended last year. The measure is deemed necessary to encourage growth in the state’s aerospace industry. The credits can only be claimed after companies have hired new aerospace engineers.