Business Briefs (Week of Feb. 1)

Looking for business briefs? This week's roundup (for the week of Feb. 1) from the Journal Record.

Mint Turbines plans for growth, new jobs in Stroud
Mint Turbines, an Oklahoma company that has helped maintain aircraft engines from across the country for some 40 years, has announced plans for a $5 million plant upgrade and 30 new jobs for Stroud. Investment in the facility at Stroud Municipal Airport was sparked by a new business arrangement announced between Mint and General Electric. The company has signed a deal to provide maintenance and repair services on GE T700 engines installed on certain Sikorsky-manufactured helicopters. 

Panel: After COVID-19, change coming under Biden
Employers can expect to see substantive changes in economic policy and employment law during the first 100 days of President Joe Biden’s administration – and gradual improvement in the economy as vaccinations begin to stem the tide of the pandemic That was the consensus of a panel of experts and community leaders who spoke with Journal Record Interim Editor Joe Dowd during an hourlong JR/Now webinar special edition on Jan. 22.

Expert: Pipeline’s suspension good for Oklahoma
President Joe Biden’s quick action to stop construction of the Keystone XL pipeline and to suspend oil and gas drilling on public lands is good news for Oklahoma, retired energy executive Mickey Thompson said Jan. 22 during a Journal Record webinar. On day one of his new administration, Biden revoked the presidential permit granted to the $8 billion Keystone XL project, which would have carried 830,000 barrels of oil per day from Canada to Nebraska. The first segment – running between Cushing, Oklahoma, and Port Arthur, Texas – already is completed. The cancellation of the Keystone XL permit will keep the Cushing terminal from being flooded with crude oil as it was several years ago when the price of oil plummeted said Thompson, former president of the Oklahoma Independent Petroleum Association. Opponents say Biden’s action will cost jobs on both sides of the border, threaten the nation’s energy independence, and result in more shipments of oil by rail, which is more harmful to the environment.

Waiting, frustration grow over Real IDs
Oklahoma City metro residents are standing in line or driving for miles to get a Real ID-compliant driver’s license. Sarah Stewart, spokeswoman for the Department of Public Safety, said 28 DPS sites statewide, only Broken Arrow and McAlester showed any openings in the next 60 days. DPS closed its offices for a month due to the pandemic, plus 29 driver’s license examiner positions were frozen due to budget cuts, she said. Oklahoma residents also can get a Real ID driver’s license at most of the state’s 260 tag agencies. Thirteen tag agents stopped issuing the licenses due to the Real ID requirements, Stewart said. Waiting times and appointment costs vary. 

Commission hears ongoing debate about prorationing
The good news is natural gas prices are rebounding; the bad news is natural gas directed drilling of new wells in Oklahoma has just about ground to a halt, industry representatives said during a recent conference at the Oklahoma Corporation Commission. Speakers at the hearing drew very different conclusions from the data. Some natural gas producers said the current market indicates that state regulators should either remove or relax current limitations on natural gas production, while other producers claim the state’s prorationing formula is showing success and should be left just as it is. The OCC is compiling data and comments from the industry before making a decision on altering the state’s natural gas prorationing formula – a decision that may remain in place for an entire year. 

Omni opens with fanfare and 100 guests
As promised, the Omni Oklahoma City Hotel at 100 W. Oklahoma City Blvd. opened its doors on Tuesday, welcoming 100 guests on its first day in business and ushering in a new era for Oklahoma City’s tourism and entertainment economy. With 76,000 square feet of flexible meeting and event space, 605 guest rooms including 29 suites, and seven facilities offering food, beverages and other amenities, the hotel – alongside the city’s new Convention Center overlooking Scissortail Park – boosts Oklahoma City into the next tier of national locations seeking to attract conventions and large events.

State thrilled with PGA’s Tulsa decision
The PGA of America’s brief announcement that Tulsa’s Southern Hills Country Club will host the 2022 PGA Championship has state officials excited about the economic and emotional boost it brings. The announcement came two weeks after the PGA stripped the tournament from Trump National Golf Club in Bedminster, New Jersey, in response to the Jan. 6 rioting of Trump supporters at the Capitol building. Southern Hills already was geared up for this spring’s Senior PGA Championship and was on the list to host the 2030 PGA Championship.

Critical need for plasma to treat COVID-19 patients
The need for convalescent plasma to treat patients who are seriously ill with COVID-19 has increased with the surge in hospitalizations, according to the Oklahoma Blood Institute. Donors who have recovered from COVID-19 carry the antibody that is a critical product in the ongoing fight against the coronavirus. The antibodies naturally diminish in about 90 days, so a steady stream of new donors is needed to meet continued demand. Businesses and organizations with a high rate of employees who have recovered from COVID-19 are urged to host a workplace plasma drive to help meet the need, OBI spokeswoman Jessica Browne said. OBI distributes about 970 units of convalescent plasma to hospitals each week and sent out its 20,000th unit Jan. 25, Browne said.

Slow job recovery continues in Oklahoma
Oklahoma was one of the states hardest hit by COVID-19 when it comes to unemployment, and recovery is coming slowly compared to other states, according to a recent report. Albeit at a moderate pace, Oklahoma’s progress toward recovery has been steady, as unemployment claims declined for the 31st consecutive week. The Oklahoma Employment Security Commission reported that, for the week ending Jan. 23, the advance number of initial claims, unadjusted, totaled 5,302 – a decrease of 1,842 from the previous week’s revised level of 7,144.

Questions loom over mandatory vaccinations
As the effect of COVID-19 on the workplace continues to evolve, employers are facing more questions than answers in the new year. One “big-ticket item” is mandatory vaccination, Adam Childers of Crowe & Dunlevy said during the Oklahoma City Human Resources Society’s annual legal seminar. The State Department of Health reports 242,329 Oklahomans had received the first dose of a COVID-19 vaccination as of Jan. 22 and 35,822 had received both shots. While Oklahoma doesn’t have enough vaccine yet for employers to require immunization, “within a matter of months we’ll be in a position where they are going to be making those decisions,” said Childers, co-chair of the firm’s Labor and Employment Practice Group.