Business Briefs (Week of June 30)
Monday, July 3, 2023
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Looking for business briefs? This week's roundup (for the week ending June 30) from The Journal Record.
Reader Rankings winners celebrated
The Journal Record celebrated top companies as voted by readers at the 2023 Reader Rankings awards celebration held June 22 at Oklahoma City Community College. More than 90 awards were issued to overall winners, which were recognized along with finalists in each category in front of a crowd of nearly 300 people. The categories included Education, Energy, Entertainment, Finance/Accounting/Insurance, General Business, Health Care, Legal Services, Real Estate, Technology and Top Employers.
State of STEAM focuses on economic development
As migration into Oklahoma soars, leaders of state organizations focused on economic development recently discussed what that process looks like through their respective initiatives. Professionals representing STEAM-based companies and organizations gathered at the Will Rogers Theatre event venue on June 22 for a quarterly State of STEAM breakfast roundtable. The event was hosted by the STEAM Engine, an Oklahoma City-based nonprofit that provides after-school STEAM programming.
Tobacco compact veto override fails
A state Senate vote to override a veto on legislation extending the life of tobacco compacts with tribal nations through 2024 failed June 26, but chamber leadership remains optimistic it will succeed upon reconsideration. Senate Bill 26X failed to receive approval from two-thirds of the Senate by one vote, with 31 in favor, eight against the motion and eight absentees. The vote followed an effort from Gov. Kevin Stitt to urge the Legislature to vote against overrides in lieu of his offer, which applies only to sales at tribal shops on trust land, as opposed to all tribal stores.
Do-it-yourself success story
Working as a low-voltage technician for 20 years required hauling a 300-pound ladder – sometimes for long distances – so JD Davis invented a ladder carrier that caught on with other workers. Today the ladder carrier is in more than 4,000 stores across the U.S. and Canada, mostly in Ace Hardware stores. The product got Davis a foot in the door at Lowe’s online and led to a meeting with the company’s paint buyer in February 2020. He invented the Cut-N-Edge PRO, a paintbrush edger designed to save time by allowing people to paint trim and corners without taping. Lowe’s decided to offer it in online sales, which began in August nearly three years ago. The test is to see if all 360 units sell out from May through July. If so, the product will be considered for a rollout into all stores nationwide.
Oil, gas production tax collections trend down in state
Recent declines in oil and gas production tax revenues have cut into overall tax collection totals recorded by the state, and a reported decline in expectations for business performance in coming months may indicate a further shift away from record recent tax revenues. Still, according to the latest report from state Treasurer Todd Russ, Oklahoma remains on sound financial footing and the state boasts an unemployment rate even below the low national average.
Money taking a toll on Oklahomans’ mental health
Oklahoma is tied for the second-most financially stressed state in the nation, according to a recent report. Analysts at USA Today Blueprint using U.S. Census Bureau data found that 54% of Oklahoma residents are “very stressed financially.” Taylor Tepper, banking editor for USA Today Blueprint, said the inflationary environment since 2021 has resulted in significant stress that’s taking a toll on people’s mental health. Oklahoma is behind only Mississippi, where 57% of residents report high financial stress, according to the report.
Edmond City Council approves collective bargaining agreements
The Edmond City Council approved three-year collective bargaining agreements with police and fire unions and added a new benefit to support families of police and fire employees who die in the line of duty. Under the utility benefit policy, surviving spouses who live in the Edmond utility service area will never receive a residential utility bill from the city for their primary Edmond home.
Report: Millions in federal pandemic relief funding mismanaged
Gross mismanagement by the state of millions of dollars in federal pandemic relief aid has resulted in money not going to Oklahomans with legitimate needs and going instead to people who didn’t need it, some of whom were shown favor by people put in charge of making allocations, according to a report by state Auditor and Inspector Cindy Byrd. In a blistering report, Byrd said Oklahoma taxpayers could be held responsible for paying back millions of dollars if the federal government acts to recoup money that was misallocated or misspent. She said mandatory audits of how federal funds have been utilized by the state revealed not only that the state made critical mistakes, like turning a blind eye to excessive program management fees, but that it allowed such mismanagement to continue even after receiving warnings from federal officials.
Norman council approves Eagle Cliff extension
A rezoning and plat for a south Norman neighborhood were approved Tuesday evening after four hours of presentations from the applicant’s representation, questions from city councilors and comments from area residents expressing their disapproval. The council narrowly approved requests from Shaz Investment Group Inc., a unit of Oklahoma City-based homebuilder Home Creations, for the rezoning and preliminary plat of 41.46 acres to the west and south of the Eagle Cliff housing addition, located at 12th Avenue SW and Cedar Lane.
New laws tighten state’s grip on medical marijuana, farms
Authority over enforcement of Oklahoma’s medical marijuana laws will be extended beyond the Oklahoma Medical Marijuana Authority to the Oklahoma Bureau of Narcotics, Oklahoma State Bureau of Investigation and even to the Office of the Oklahoma Attorney General under legislation passed into law this year. Oklahoma Attorney General Gentner Drummond said passage of several new laws, including one based on House Bill 2095 giving the AG’s office authority to, among other things, conduct unannounced on-site inspections of medical marijuana businesses, should strengthen the state’s hand in keeping bad actors out of the medical marijuana industry in Oklahoma.
Running at deficit, Talihina Veterans Center in process of closing
Some families of residents in a state veterans center in Talihina have begun moving the veterans out in anticipation of the center closing. Members of the Oklahoma Veterans Commission voted unanimously in June to begin the process of closing the Talihina Veterans Center. Plans had been for it to remain open until a new veterans center under construction in Sallisaw is complete, but delays have pushed the new center’s opening back until at least the fall of next year. State Rep. Jim Grego, R-Wilburton, whose district includes the Talihina Veterans Center, criticized the vote to close the facility.
Employers target worker distractions
Disorganization and online distractions top the list of “time wasters” that reduce workforce productivity, according to a recent survey of U.S. hiring managers. Nearly 7 in 10 U.S. hiring managers (68%) report their company is actively identifying and/or eliminating behaviors and obligations that can limit the time employees have to get their work done. The Harris Poll survey of 1,000 managers was commissioned by Oklahoma City-based Express Employment Professionals.
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