Business Briefs (Week of Dec. 17)
Monday, December 20, 2021
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Looking for business briefs? This week's roundup (for the week of Dec. 17) from The Journal Record.
OKC Dodgers’ acquisition part of major shift in Minor League ball
The Oklahoma City Dodgers baseball team has changed hands. Diamond Baseball Holdings, a subsidiary of Endeavor, announced its acquisition of the club from Mandalay Baseball LLC, which had owned the franchise for the past seven years. Financial terms of the transaction were not disclosed. The OKC Dodgers had previously been mentioned among candidate teams for acquisition by DBH which, according to Baseball Digest, has acquired 10 minor league clubs this year ranging from the Triple-A Memphis Redbirds to the Low-A West San Jose Giants.
State taps funding to improve water infrastructure
Funding included in the recently passed $1.2 trillion federal infrastructure bill may allow some communities in Oklahoma to take on water improvement projects that might not have been possible before. As part of that new funding, the Oklahoma Department of Environmental Quality’s Water Quality Division proposed an amendment to the state fiscal year 2022 Drinking Water State Revolving Fund Intended Use Plan to increase the maximum loan forgiveness amount from $250,000 to $1 million.
Oklahoma hopes to reverse health care workforce crisis
Oklahoma lawmakers are planning to invest money from the American Rescue Plan Act in ways to add to numbers of nurses and other health care providers in the state, which has been swept along with the rest of the nation into a workforce crisis battering the health care industry. Through the ARPA, the federal government has planned to channel $1.9 trillion in relief to state, local and tribal governments, including millions in funding to support and improve public health. The state Legislature earlier this year created subject area working groups to identify pressing as well as short- and long-term needs and to recommend best ways to invest funds.
Oklahoma vintners, wine lovers to benefit from Grape LOVE
At Oklahoma State University, experts who have staked careers at the intersection of the science and business of grape growing have been busy lately establishing Grape LOVE – the Grape Library of Viticulture Extension. As it’s envisioned, it will be an invaluable resource for people, especially people in Oklahoma, who are interested in or already involved in growing grapes suited for producing fine wines. The Oklahoma Department of Agriculture, Food and Forestry awarded more than $32,000 to the OSU Department of Horticulture and Landscape Architecture for the project.
OKC, Tulsa regions among finalists for major federal cash infusions
Coalitions in Oklahoma City and Tulsa have been named among finalists in a nationwide competition for hundreds of millions of dollars in federal funding to be awarded through the U.S. Economic Development Administration. The Oklahoma City coalition, referred to as the Oklahoma Biotech Innovation Cluster, has proposed a major investment in infrastructure, including labs and research facilities, a workforce training center, a business incubator and startup facilities, with goals to strengthen Oklahoma City’s position as a regional biotech hub. In northeastern Oklahoma, a coalition led by the Indian Nations Council of Governments seeks to promote 21-counties anchored by Tulsa as a regional “advanced mobility corridor.” Goals are to become a hub for both research and development and production in the advanced mobility sector.
Hobby Lobby to increase minimum full-time pay to $18.50 an hour
Full-time employees of Hobby Lobby will be paid at least $18.50 an hour beginning in the new year, the Oklahoma City-based retailer announced. Hobby Lobby has a record of setting wages for employees above the minimum established by the government. It was among first companies in the country to do so in 2009 and, since then, has raised its minimum a dozen times, according to a company release.
Fired nurse to get her day in court
Oklahoma Supreme Court justices on the losing side of a recent 5-4 split decision contend the ruling could weaken Oklahoma’s at-will employment law and the right of employers to manage their businesses. The majority voted to allow a nurse her day in court, suing her employer for firing her when she refused to come in to work during the COVID-19 state of emergency, under unsafe conditions and in violation of the governor’s executive order in place at the time, the nurse contends.
$50M gift to OSU a game-changer for energy security
A $50 million gift to Oklahoma State University will change the trajectory of energy security in the United States as it prepares the next generation of industry leaders, OSU President Kayse Shrum said at a news conference. The gift – $25 million from the Harold Hamm Foundation and $25 million from Continental Resources – will establish the Hamm Institute for American Energy in the Oklahoma City Innovation District. It is one of the largest gifts in OSU’s history. The institute will become the primary and permanent occupant of the building at 300 NE Ninth St., formerly known as OSU Discovery.
Cherokees to build $400M hospital in Tahlequah, smaller clinic
The Cherokee Nation finalized plans to build a new hospital in Tahlequah and a new outpatient health center in the town of Salina in Mayes County. The new hospital, to be constructed at a cost of around $400 million, will take the place of a decades-old much smaller hospital in Tahlequah. The current facility, known as the W.W. Hastings Hospital, will be converted for new use as the tribe expands behavioral health services and programs, according to a media release.
Shoplifting, violence major concerns for small businesses
Small business owners who have faced unprecedented challenges during the pandemic are being confronted by rising threats from an old foe – shoplifters. A new survey shows that up to 89% of small business owners are experiencing an increase in shoplifting. For Oklahoma small businesses, the shoplifting problem is becoming not just a cost-loss problem, but a safety concern for employees as well.
Recriminations fly as OCC OKs storm financing
The vote taken up by the Oklahoma Corporation Commission on Thursday was to approve a deal allowing electricity utility OG&E to finance $748.9 million in extraordinary fuel costs incurred during February’s winter weather event. But in approving the deal – by a 2-1 vote – commissioners chose to include attachments to Thursday’s order containing a barrage of accusations, recriminations and personal attacks directed against one another.
Canoo announces acceleration of EV production shift to U.S.
Electric vehicle startup Canoo, which has announced plans to manufacture EVs at a facility planned in Pryor, has ended a deal it had with a contract manufacturer in Europe – a step that will allow the company to accelerate plans for production both in Arkansas and Oklahoma, the company said in a release. Canoo also announced a new relationship with a Dutch company, VDL Groep, to potentially partner in production of vehicles for markets in Europe.
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