Tulsa Market Brief
February 2015 Spotlight on the Market
MidAmerica Industrial Park
Tulsa World (OK) - March 4, 2015
After 55 years as one of the nation’s largest and most prominent industrial parks, MidAmerica is now home to 80 successful employers with more than 3,400 skilled employees, and it’s still growing. Several Fortune 500 giants are among
its diverse family of businesses including Google, DuPont, Conoco/Phillips, Sysco, Cabot, Siemens, and Air Products.
MidAmerica’s visionary strategic plan is a living-document, perpetually updated and refocused on the primary drivers
that stimulate economic growth and investment. Its next chapter is already well underway with a far-sighted 5-year/$20
million capital investment plan to develop new roads, utilities, and buildings to position the Park for an even higher rate
of growth.
Central Library renovation progresses as crews remove sign
Tulsa World (OK) - March 4, 2015
High honor: finalist for national award: On the day the last Central Library sign came down in a multimillion-dollar
renovation project, the Tulsa City-County Library was named a finalist for the nation’s highest honor bestowed upon libraries for service to communities. The Tulsa system is among 30 finalists for the 2015 National Medal for Museum and
Library Service. For 21 years, the award has recognized libraries and museums that demonstrate extraordinary and innovative approaches to public service.
TCC to Receive $3 Million for Program Launch
GTR Newspapers – March 2, 2015
The American Electric Power Foundation will partner with Tulsa Community College (TCC) and the TCC Foundation to
provide $3 million over five years to launch the Credits Count program, benefiting high school and middle school students in Tulsa Public Schools (TPS). The announcement of the program, which focuses on STEM (Science, Technology, Engineering, Mathematics) was made Feb. 9 during a special ceremony at Tulsa’s Will Rogers College High School.
Outlook: Bartlesville new development on the rise
Tulsa World (OK) - March 1, 2015
BARTLESVILLE — New development is on the rise in Bartlesville, where longtime companies are investing
in expanded facilities and retail operations are eyeing the market. Chevron Phillips Chemical Company LP just announced plans to begin this year constructing a new state-of-the-art polyethylene pilot plant in Bartlesville, while the
community saw in the last year completion of a $14 million expansion at ABB Totalflow’s office and manufacturing complex and construction of a new Bartlesville Industrial Park building for Husky Portable Containment.
Outlook: Catoosa set to become shopping destination
Tulsa World (OK) - March 1, 2015
CATOOSA — Blackjack and barges may drive Catoosa, but a recent influx of new and planned retail facilities is giving
the town’s economy a third option. The anchor for the long-awaited Catoosa Hills shopping center, a 155,000-squarefoot Wal-Mart Supercenter off 193rd East Avenue and Interstate 44, has generated 300 jobs and counting since its June
opening. More than 10 years in the making, the store has helped generate a surge in sales tax revenue for the Rogers
County community as more Catoosa residents are able to shop in town instead of going to Tulsa or Claremore.
Outlook: Glenpool's location drives business
Tulsa World (OK) - March 1, 2015
GLENPOOL —From private medical practices to retail to manufacturing, companies are finding the travel corridors in
which Glenpool is located to be prime real estate. “It’s on a major highway — Highway 75 between Dallas and Kansas
City. We ship all over the world out of Glenpool. We’re in Australia. We’re in Europe. We’re in Asia,” said Michael Champagne, president of Champagne Metals. His manufacturing plant produces aluminum products and aluminum coil processing. The company has an additional plant in Indiana, but Glenpool remains the headquarters.
Outlook: Tulsa's diverse economy, Macy's center highlight local job market
Tulsa World (OK) - March 1, 2015
Tulsa’s steady diversification over the last several years seems to be paying off with a wide array of employment opporResearch Wizard Tulsa Market Brief
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tunities. The opening of Macy’s distribution center this year will be the biggest jobs story, with 1,500 of the facility’s eventual
full-time staff of 2,500 expected to be hired. When fully operational next year, the center will come close to having a staff of
4,000 during peak times.
Outlook: Jenks opens gates to flood of development
Tulsa World (OK) - March 1, 2015
JENKS — The city of Jenks, merely a railroad way station 110 years ago, has become an enticing location for new businesses and attractions. West Main Street, two miles from the Tulsa Hills shopping district, is located off U.S. 75 in Jenks and is
currently transforming with two massive construction projects leading the way for future development. Kevin Stitt has given
the area his own district title: “The Gateway District.”
Tulsa Tech: Preparing students for their futures
Tulsa World (OK) - February 27, 2015
Tulsa Tech provides affordable, industry-standard technical training in an engaging, innovative learning environment where
students acquire skills for success in the workplace. A recognized contributor to regional economic prosperity, Tulsa Technology Center is a leader in career and technical education with the goal of a quality job for every Tulsa Tech student and a
skilled workforce for every company. Tulsa Tech reached record enrollment in 2014, enrolling more than 4,300 high school
and adult students in full-time career majors and had over 31,000 enrollments in part-time classes and customized business
and industry training.
OSU Medical Center: Training future generations of Oklahoma physicians
Tulsa World (OK) - February 27, 2015
Oklahoma State University Medical Center in downtown Tulsa plays a leading role in training doctors who treat patients
across the state of Oklahoma. The medical center, which works hand in hand with the OSU Center for Health Sciences, is
the nation’s largest osteopathic teaching facility with 11 residency programs and 10 fellowship programs that train more than
150 residents in primary care and sub-specialties each year. Together they have trained more than 2,000 physicians, and 80
percent of those graduates have remained in Oklahoma to practice medicine, adding to local residents’ quality of medical
care.
Oklahoma Heart Institute: Improving outcomes, saving lives
Tulsa World (OK) - February 27, 2015
For more than 25 years, Oklahoma Heart Institute has been setting the standard of cardiology care in our community. With
high-quality ratings from independent organizations and some of the nation’s best trained physicians, it has earned recognition as one of the finest tertiary cardiovascular-care programs in the country. Today, Oklahoma Heart Institute employs more
than 40 cardiac specialists who see patients in clinics located in both midtown and south Tulsa, as well as in 17 surrounding
communities.
CTCA celebrates 25th year in Tulsa; provides advanced cancer treatment
Tulsa World (OK) - February 27, 2015
In May, Cancer Treatment Centers of America (CTCA) will celebrate its 25th year in Tulsa. The hospital, which exclusively
treats adult cancer patients and follows the “the Mother Standard of care,” offers advanced cancer treatment to residents of
Oklahoma and the surrounding region. As part of a national network of cancer hospitals, CTCA in Tulsa combines advanced
forms of surgery, radiation, chemotherapy and imaging services with scientifically supported therapies such as nutrition, spiritual support, mind-body medicine and naturopathic medicine, all under one roof. CTCA has programs for treating neurological, gastrointestinal, hematologic, head and neck, lung and breast cancers, among others.
City of Owasso lays out details of proposed Downtown Overlay ordinance
Tulsa World (OK) - February 14, 2015
OWASSO — The city has released plans and a timetable for a Downtown Overlay ordinance. Reviewed Thursday by the
Owasso Economic Development Authority, the proposed ordinance is a flexible land-use control tool that establishes additional development standards over a base zoning district. It is designed to develop basic design standards that would spur
economic development that is pedestrian in scale, promote the history of the town and encourage unique and attractive architecture, Bronce Stephenson, director of community development, said in a memo.
Tulsa Housing Authority gets $3.2 million in HUD funding for capital improvements
Tulsa World (OK) - February 13, 2015
The U.S. Department of Housing and Urban Development announced nearly $3.2 million in funding for the Tulsa Housing
Authority on Thursday. The money will be used for capital improvement projects to modernize THA’s various sites. The Tulsa
Housing Authority owns and manages 17 sites, 13 of which are considered public housing. The $3.2 million is restricted for
use at those 13 sites, said Chea Redditt, president and CEO of THA.
Tulsa has hearty Christmas period with higher than expected sales tax revenue
Tulsa World (OK) - February 11, 2015
Tulsa’s sales-tax revenue during the Christmas season was above budget projections and last year’s collection total, according to a city news release. The latest numbers continue a trend for the city, in stark contrast to last year’s sales-tax shortfall
that led to City Hall reorganization, layoffs and cuts to create a conservative budget. The growth could mean more money for
city programs — some of which had been in danger of cuts. The February sales-tax check from the Oklahoma Tax Commission covered a period from mid-December to mid-January and totaled $21.5 million, according to the release.
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Expansions, Openings, Relocations, Acquisitions
River Spirit Casino: Phase II expansion will create a destination resort
Tulsa World (OK) - March 4, 2015
River development, top-tier entertainment and restaurants, and a world-class hotel will turn River Spirit Casino from a local’s
casino into a tourism destination. Scheduled to open in early 2017, the $365 million expansion will include a 27-story glass
resort hotel tower, 2,600-seat showroom theater, 1,500-car parking structure, several new restaurants, large pool deck with
riverside entertainment, and Jimmy Buffett’s Margaritaville restaurant and bar with an adjacent Margaritaville-themed casino.
FlyingTee Introduced for RiverWalk Crossing
GTR Newspapers – March 3, 2015
A new state-of-the-art golf and entertainment venue has planted roots at the RiverWalk Crossing in Jenks. FlyingTee, a hightech golf and family entertainment center unveiled its new brand and marketing campaign at a press conference Feb 17 at
RiverWalk Crossing.
PSO Progresses on New Meter Installation
GTR Newspapers – March 1, 2015
Public Service Company of Oklahoma (PSO) has begun full deployment of its Advanced Meter Infrastructure (AMI) across its
30,000-square-mile service territory. The replacement of more than 520,000 existing meters with new AMI meters is expected to take through 2016 to complete. The upgrade to AMI meters will offer a variety of customer benefits.
QuikTrip to start construction on replacement convenience store at 51st Street and Mingo Road and open two others soon
Tulsa World (OK) - February 28, 2015
Construction will start in the next couple of weeks on a new QuikTrip at 9529 E. 51st St. that will replace the convenience
store’s older store located in the same vicinity. The newer QuikTrip will be a larger “Generation 3” model on the northwest
side of the street on the site of a former Midwest Sporting Goods store, which QuikTrip bought and tore down.
Williams & Williams: Combining on-site property auctions with global reach, online bidding
Tulsa World (OK) - February 28, 2015
Williams & Williams, an Oklahoma-based auction company, actively sells all types of real estate in all 50 states. The firm
sold more than $7 billion in just the last few years, making it one of the largest real estate brokerages in the Midwest. Last
year brought new strategic partnerships to the Tulsa company and new business lines. The company made national headlines recently with the announcement of an alliance with Long & Foster Real Estate Inc., one of the largest privately owned
real estate companies in the US with more than 10,000 agents in 170 sales offices in the Mid-Atlantic region.
Pelco Structural: Doing work that matters, in Claremore, for Oklahoma, and for the Nation
Tulsa World (OK) - February 27, 2015
Claremore company Pelco Structural, a manufacturer of custom steel poles whose products people use every day without
even realizing it, is gearing up for a major initiative that will impact current and future generations on both the local and national levels. Pelco has signed a Memorandum of Understanding with Clean Line Energy Partners to produce a portion of the
transmission structures for an approximately 700-mile transmission line from the Oklahoma Panhandle to western Tennessee, called the Plains & Eastern Clean Line. This project will allow wind farms in the state to deliver up to 4,000 mega-watts
of wind produced electricity, more than four times the energy the Hoover Dam produces on average.
Blue Cross and Blue Shield of Oklahoma celebrates 75 years
Tulsa World (OK) - February 27, 2015
This year, Blue Cross and Blue Shield of Oklahoma (BCBSOK) is celebrating 75 years as Oklahoma’s oldest and largest
private health insurer. It’s a distinction President Ted Haynes is proud of because it shows the commitment BCBSOK has
had to the people of Oklahoma for more than seven decades.
Harsco Industrial Air-X-Changers first tenant to move into CenterPoint Industrial Park
Tulsa World (OK) - February 14, 2015
Harsco Industrial Air-X-Changers’ move into its $17.5 million renovated facility at CenterPoint Industrial Park is more than
just an expansion, it’s the beginning of a new chapter for the business, company leaders say.
The local manufacturer of air-cooled heat exchangers recently began the process of moving operations from five different
facilities across the region to CenterPoint Industrial Park. Harsco is the first tenant to move into CenterPoint, the former site
of the Ford Glass Plant at 5555 S. 129th East Ave. Just off of three major milestones during 2014 — celebrating a 60th anniversary; acquiring the Owasso-based company formerly known as Hammco; and bringing 105 net new hires on board — the
relocation poises Harsco for new goals of further expanding the markets it serves.
Rose Rock Midstream spending $325 million to buy crude oil assets from parent SemGroup
Tulsa World (OK) - February 10, 2015
Tulsa-based SemGroup Corp. will drop down its remaining crude oil assets to its master limited partnership, Rose Rock Midstream LP, the companies announced Monday. Rose Rock, which is controlled by SemGroup and shares executive leadership, will pay $325 million to buy the Wattenburg Oil Trunkline system and SemGroup’s 50-percent stake in the Glass Mountain Pipeline. The Wattenburg delivers oil from Colorado’s Denver-Julesberg Basin, while the Glass Mountain is an outlet for
production from the Mississippi Lime formation of northern Oklahoma.
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Layoffs, Closings, Downsizes, Restructures
WPX Energy reduces workforce
The Journal Record - March 2, 2015
WPX Energy is reducing its companywide workforce by 8 percent and consolidating most of its regional office staff in Denver with
personnel at the firm's headquarters in Tulsa. Eighty-three employees are being notified that their positions are affected by the
workforce reduction, including 44 in Tulsa.
Crude oil pricing leads to Unit loss
The Journal Record – February 24, 2015
Significantly lower commodity prices in the last three months of the year had a negative effect on contract drilling company
Unit Corp. The Tulsa-based company recorded a $42.6 million net loss in the fourth quarter of 2014, compared to a profit of
$51.3 million for the same period last year.
Workforce cut in 2015 announced
Tulsa Business & Legal News – February 19, 2015
Enable Midstream Partners, LP officials announced the firm will reduce its company-wide workforce by approximately 10
percent during 2015.
Six Tulsa-area RadioShack stores to close as part of company's Chapter 11 bankruptcy proceedings
Tulsa World (OK) - February 10, 2015
Six RadioShack sites in the Tulsa area are among 10 in the state that will be shut down over the coming weeks as the retailer reorganizes in bankruptcy. The three Tulsa stores to be closed are located at 10035 S. Memorial Drive, 8518 E. 71st St.
and in the Tulsa Hills Shopping Center at 7454 S. Olympia Ave. West. Three other area stores also marked for closure include one in Broken Arrow at 1348 E. Hillside Drive, one in Owasso at 12305 E. 96th St. North and another in Sapulpa at
126 W. Taft.
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Comparative Unemployment Rates
Period
County %
MSA %
State %
U.S. %
2014 December
2013 December
3.8
5.3
4.0
5.4
3.8
5.0
5.4
6.5
Source: U.S. Bureau of Labor Statistics. Rates are not seasonally adjusted.
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