Business Briefs (Week of June 23)
Monday, June 26, 2023
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Looking for business briefs? This week's roundup (for the week ending June 23) from The Journal Record.
OKC Zoo to debut major improvements, new animals
As the Oklahoma City Zoo and Botanical Garden prepares to roll out the largest habitat expansion in its 121-year history – the $27 million Expedition Africa – the design is already done for the next big build. Expedition Africa will feature 77 species of animals – 37 of them new to the zoo – across the 13-acre development, zoo Executive Director Dwight Lawson told the Oklahoma City Council. Because of the many habitats and spaces involved in Expedition Africa, the zoo anticipates a rolling opening throughout July.
Women who left workforce during pandemic return
Employment of prime-age women – those ages 25 to 54 – is back to pre-pandemic levels but is uneven is some sectors, according to the Bureau of Labor Statistics. May’s job report showed overall gains with the nation’s employers adding 339,000 jobs, yet the unemployment rate for women rose slightly by 0.2%. Some 12 million women left the labor force during the pandemic – four times the population of Oklahoma – and many are looking for a different work environment or a new role as they return, said Cheryl Hanson, district manager with human resources provider Insperity.
OTA adjusting route of controversial extension
The Oklahoma Turnpike Authority intends to adjust its route for a toll road located west of Lake Thunderbird if the state Supreme Court allows it to sell bonds for the project. As prompted by the court, the authority this month filed a response to the pending bond validation proceeding for its $5 billion Access Oklahoma plan. The court asked the agency to explain why it allowed the approval of $500 million in bonds for the plan to expire and whether realignment of a southern extension toll road should be addressed before the validation proceeding completes.
Holt: New arena plan coming this summer
Look for news about a new downtown arena sometime this summer, Mayor David Holt said. Officials with the city and the Oklahoma City Thunder have been in conversations for a year about what the future looks like, he said. The city’s long-term lease with the NBA franchise ended this month and the parties approved a short-term extension that runs through the 2025-26 season.
Lawmakers criticize OU’s plan to raise tuition, fees
Plans to increase costs of tuition and fees paid by students at the University of Oklahoma have drawn fire from several state lawmakers. The OU Board of Regents recently approved a 3% increase in tuition and mandatory fees for undergraduate and graduate students enrolled in Norman campus programs. At the OU Health Sciences Center in Oklahoma City, students in eight professional programs and in undergraduate and graduate programs would see tuition increases ranging from 1% to 7%. In comments, OU President Joseph Harroz Jr. justified the increases as necessary in carrying out the university’s strategic plan for the future.
Delegation from Oklahoma at Paris Air Show
Oklahomans, including Gov. Kevin Stitt, were in France lobbying on behalf of the state’s rising aerospace industry at the Paris Air Show. The Farnborough International Airshow in England, which an Oklahoma delegation attended last year, and the Paris show are the largest aerospace trade events in the world and are considered key landing spots for people involved in business development in the global aerospace industry. They typically attract more than 150,000 aerospace executives and companies.
Renovated Civic Center earns rave reviews
After an extensive two-year renovation project, Oklahoma City’s historic Civic Center Music Hall is showing off its new look. The $17 million remodel largely was funded through the 2017 Better Streets, Safer City bond package, which allocated $14.1 million to the project. The remainder was raised privately by the Civic Center Foundation. The updates include a new addition on the building’s north side, which serves as the entrance and lobby for the Little Theatre. It provides a dedicated bar, new restrooms and balcony seating. Along with a relocated box office, patrons will notice a complete makeover of the main lobby.
Chamber hails progress in workforce development
An increased commitment to political engagement was a big part of The State Chamber’s success during the past year, President and CEO Chad Warmington said during the organization’s annual meeting. The biggest win was the creation of the Oklahoma Workforce Commission to better understand and address the challenges of the state’s workforce ecosystem, Warmington said. Gov. Kevin Stitt signed Senate Bill 621 on June 7, establishing the commission to be led by private-sector business leaders and government officials. They will coordinate the state’s workforce development strategy and administer and oversee funding allocated by the Legislature for workforce development initiatives. Stitt also plans to name a secretary of workforce development to serve on his Cabinet.
Survey shows declines in manufacturing, regional expectations
Manufacturing activity in Oklahoma and other states in the region declined headed into June, and expectations for future activity fell, according to results of the most recent survey of manufacturers carried out by the Federal Reserve Bank of Kansas City. According to the survey, manufacturers cited rising borrowing costs, rising costs of raw materials and declining expectations for orders as reasons for their falling optimism. In a release, the Reserve Bank said the overall outlook among manufacturers fell to the lowest point recorded in more than three years. Results of the June Manufacturing Survey did reflect expectations for stability in employment, however.
OKC woman’s faith journey explored in PBS doc ‘Mama Bears’
The story of the Oklahoma City mother behind the national organization “Free Mom Hugs” is part of a new Mama Bears documentary exploring faith, love and advocacy that has aired recently on PBS. The documentary named after the private Facebook support group for parents of LGBTQ children focuses on the stories of two mothers whose unconditional love for their children led them to challenge their own evangelical Christian beliefs in order to advocate for their children. The documentary directed by Emmy Award-winning director Daresha Kyi and produced by Laura Tatham premiered on PBS as part of its Independent Lens series. It also will be available to stream on the PBS mobile application all month, and filmmakers are looking to show it to additional audiences as well.
Federal spending targeted to curb road wrecks
Major investments planned in highways, bridges and other infrastructure in Oklahoma and other states are intended to, among other things, end the trend of rising road deaths. Under the bipartisan Infrastructure Investment and Jobs Act, signed into law in November 2021, some $454 billion will be invested nationwide in transportation infrastructure through 2026, representing a 38% increase over spending in recent years. Under the act, Oklahoma will receive $4.3 billion in federal-aid highway-apportioned funding and $266 million for bridge replacement and repairs. The state also will be in the running for some $12.5 billion in planned spending under the federal Bridge Investment Program targeting “economically significant” bridges and nearly $16 billion of national funding for projects intended to deliver economic benefits to communities.
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