Business Briefs (Week of April 14)
Monday, April 17, 2023
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Looking for business briefs? This week's roundup (for the week ending April 14) from The Journal Record.
Maritime display planned in OKC park along Oklahoma River
The crew members who served for more than 80 years aboard two U.S. Navy vessels named USS Oklahoma City will be honored at a maritime display to be located along the Oklahoma River on the north shore of Wiley Post Park, 1700 S. Robinson Ave. The Oklahoma City Council approved a memorandum of understanding for the project with the Oklahoma City Riverfront Redevelopment Authority and the USS Oklahoma City Park Association. Private funding for the project will be raised by the USS Oklahoma City Park Association.
Edmond author's books under attack in Florida
An Oklahoma author learned this month that her books – which are meant to give children the skill set to deal with emotions – are under attack in Florida school districts. Mary Nhin, who lives in Edmond and has written more than 250 children’s books, learned about the situation from educators in Florida who emailed her that they have been told to pull her books from their shelves. Teachers in Oklahoma and across the nation use her “Ninja Life Hacks” series for social, emotional learning. The books are designed to help children cultivate a growth mindset and develop confidence and grit. Her “Mini Movers and Shakers” books were developed to inspire children to dream big and work hard through the example of people like Amelia Earhart, Albert Einstein, Serena Williams, Bruce Lee and Walt Disney.
OU takes regional role in transportation effort
The University of Oklahoma will be taking a leadership role in a national effort to ensure the long-term sustainability of roads, bridges, and rail and port infrastructure subject to rising threats of changing weather and extreme weather events. OU was among nearly three dozen entities identified recently by the U.S. Department of Transportation to be regional hubs in the effort. The Southern Plains Transportation Center on the OU campus in Norman will receive funding annually, to be matched by the Oklahoma Department of Transportation, to dedicate toward research to meet increasing challenges in the transportation sector. Oklahoma is part of the DOT’s Region 6, which also includes Texas, New Mexico, Arkansas and Louisiana.
Love's to invest in upgrades, new locations
Love's Travel Stops announced that it will invest more than $1 billion to upgrade 200 locations over the next five years. Selected locations will be updated based on foot traffic, sales and storage. On average, Love’s will invest between $2 million and $7 million per location. When completed, each location will have a more modern look and open concept. Stores will be equipped with open-kitchen concepts, multiple restaurant options and updated Love’s Truck Care and Speedco truck service centers. Dog parks will be added to locations without one, where space allows. The company also plans to open 25 new locations in 2023.
Canoo moves closer to EV production in OKC
Electric vehicle startup Canoo, which has navigated a bumpy road so far in establishing manufacturing sites in Oklahoma, reached a milestone recently in its plan to open a 500,000-square-foot plant in Oklahoma City. The company entered into a long-term lease agreement on a property purchased by an affiliate of AFV Partners, founded by Canoo Chairman and CEO Tony Aquila, for $34.27 million. Canoo said in a release that it will begin “ramping teams” up in coming months and expects to employ more than 500 people as EV production is anticipated to begin later this year.
OTA puts brakes on Access Oklahoma plan
The Oklahoma Turnpike Authority hit the brakes on its controversial $5 billion Access Oklahoma plan to expand the state’s toll roads. Citing uncertainties over funding and pending lawsuits filed by opponents, the OTA notified its board members and consultants that all work on the plan would be halted by April 14. Secretary of Transportation and OTA Executive Director Tim Gatz previously had said the OTA, despite being in a strong financial position, would not be able to continue funding work without a clear timetable for access to the bond market.
Governor’s executive order changes makeup of Cabinet
Gov. Kevin Stitt issued an executive order restructuring his Cabinet to create a new secretary of workforce development position and secretary of operations and government position. Stitt said he applied experiences of his first term in office in making decisions to change the makeup of his executive leadership team. The new structure should allow leaders to better address changing needs of the state, perhaps especially in addressing priorities for workforce development, he said.
Mixed-use, 20-acre OKC development Oak underway
The first phase of Oak – a 20-acre mixed-use development at Northwest Expressway and Pennsylvania Avenue – is under construction with the grand opening expected for fall 2024. Oak is named for the mighty tree. The developers describe it as a walkable mixed-use district where more than 2 miles of sidewalks weave together first-to-market retailers, restaurants with rooftop dining, Class A office space, luxury residences, a boutique hotel and a central green space.
Kratos to increase production capacity, employment in OKC
High demand for jet-powered unmanned aerial systems produced in Oklahoma City will lead Kratos Defense & Security Solutions to more than triple its local workforce. The California-based company, which has had a presence in Oklahoma City since 2018, surpassed a milestone this month in turning out its 100th “Firejet” high-performance drone. But Oklahoma lawmakers and others who turned out to mark the event at the Kratos plant at the Will Rogers Business Park probably were most excited by news of the company’s rising expectations, which include plans for increasing its Oklahoma City workforce from about 160 to more than 500.
'Unstoppable' AI raises concerns, need for regulation
New developments in artificial intelligence are unstoppable despite a call from some experts to step on the brakes, business attorney David Miller said. A national debate about whether AI developments are moving too rapidly to be safe was launched last month by an open letter issued by the Future of Life Institute. Legislation and regulation of specialized areas like AI usually are defined by the courts, said Miller, a University of Oklahoma alumnus and supporter who practices in Dallas. In 2022, more than 100 lawsuits were filed involving AI, 10 times more than five years ago, he said. Industry associations can set standards for AI use. That would be much quicker but requires cooperation among competitors, Miller said.
‘Makerspace’ at UCO enhances engineering training, student opportunities
A newly renovated “Makerspace” introduced recently by the School of Engineering at the University of Central Oklahoma reflects the state’s increasing investments in workforce development. The space, funded by the state Legislature, Oklahoma State Regents for Higher Education and Boeing, will enhance classroom and real-world experiences of engineering students and provide a “launchpad” for curriculum development to promote advanced manufacturing, officials say. Among other things, it also will provide students with a well-designed space to accommodate research and product design.
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