Tulsa Market Brief. Spotlight on the Market. May 2015

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1 Spotlight on the Market Tulsa Market Brief May 2015 Three local companies on Fortune 500 list Tulsa World (OK) - June 5, 2015 The prestigious Fortune 500 list of companies has been tabulated for 2015, and the list includes three Tulsa companies, including one that's never been on the list. Even with the drop in petroleum prices, all three deal in energy. ONEOK is at No. 237, newcomer NGL Energy Partners is at No. 299 and Williams Cos. is at No River task force OKs proposal on dams Tulsa World (OK) - June 5, 2015 The proposal to put water in the river is finally taking shape. After years of meetings and discussions, the Arkansas River Infrastructure Task Force approved a draft proposal Thursday that it hopes to bring to the public for scrutiny this summer before a possible ballot measure goes to voters in November. The price tag, currently, comes in just under $300 million, according to the draft created by Bynum. That would buy three low-water dams one in Sand Springs, one in south Tulsa/Jenks and one in Bixby and an overhaul of Tulsa's Zink Dam. NORDAM Lauded by AEP/PSO for Lighting Efficiency GTR Newspapers June 1, 2015 NORDAM received the American Electric Power / Public Service Company of Oklahoma (AEP/PSO) award for Best Lighting Energy Efficiency Project of 2014 during the utility s Spring Commercial & Industrial Workshop at Southern Hills Marriott, 1902 E. 71st Street. The honor comes as a result of replacing 650 thousand-watt, metal-halide lighting fixtures with energy-saving LEDs at NORDAM s Repair Division, a move that cut the facility s wattage use in half. Fallin signs bill to fund OKPOP Tulsa World (OK) - May 30, 2015 OKLAHOMA CITY - Gov. Mary Fallin on Friday signed a bill to build a museum of popular culture in Tulsa. Senate Bill 829 by Senate President Pro Tem Brian Bingman, R-Sapulpa, will provide $25 million in bonds to build the Brady District facility, which will be called OKPOP. "The OKPOP Museum will be a tourism destination and a source of economic growth and development for the city of Tulsa," Fallin said. Tulsa City Council kicks off new Vision task force for development projects Tulsa World (OK) - May 29, 2015 The City Council s plan to renew Vision 2025 s expiring tax for economic development took its first official steps Thursday. Councilors on the Vision and Economic Development Task Force met for the first time and discussed broad categories that they hope will produce proposals for big-ticket projects. The renewal of Vision 2025 s 0.6 percent sales tax, set to expire next year, will be up to individual communities in Tulsa County rather than the original package s countywide scope. API report shows Oklahoma holds its own among world's top natural gas producers Tulsa World (OK) - May 29, 2015 Oil and natural gas production in Oklahoma has risen in recent years to the point where the state outperforms many energy producing countries, according to a new report. Thanks to innovations in hydraulic fracturing and horizontal drilling, Oklahoma now outpaces eight of the 12 OPEC nations in natural gas production, said Kyle Isakower, API (American Petroleum Institute) vice president for regulatory and economic policy. Oklahoma is particularly strong in natural gas. The state s daily output of 5.15 billion cubic feet would rank it 18th among the world s top gas producers, ahead of nations such as Mexico and the United Arab Emirates. Arvest Bank Continues Highest Rankings GTR Newspapers - May 27, 2015 Arvest Bank once again received the highest ranking among its peers in both the South Central and Southwest Regions in the J.D. Power 2015 Retail Banking Satisfaction Study. This marks the seventh time, overall and consecutively, Arvest has been recognized with a J.D. Power regional award. The bank has received a total of 12 J.D. Power awards during that span. Research Wizard Tulsa Market Brief Tulsa City-County Library 400 Civic Center Tulsa, OK Phone: Fax: Customizing Information to Meet Your Business Needs Copyright 2015

2 Tulsa Ballet opening satellite school in Broken Arrow The Hardesty Family Foundation has donated acres of land to support the development of a Tulsa Ballet satellite school in Broken Arrow. The future site of the Hardesty Center for Dance Education is located just east of the intersection of Aspen Ave. and 101st St. The lead gift for this project, valued at $4.185 million, is one of the largest gifts ever awarded by the foundation and its founders, Roger and Donna Hardesty. Cherokee Nation Businesses records record year for revenue, income Cherokee Nation Businesses annual year-end audit shows the tribe s economic development arm ended fiscal year 2014 with record revenues topping $829 million, more than $48 million ahead of fiscal year The company s operating income of $105 million was also up 8 percent in This financial success led to more than $47 million being paid to the Cherokee Nation, the company s sole shareholder, for programs such as housing, health care, education and other services. The remainder of CNB s income is reinvested into job creation, business development and diversification. Claremore's 2016 budget anticipates $5M growth CLAREMORE - The city's proposed fiscal year 2016 budget of roughly $79.2 million includes no salary increases for municipal employees. The $79,197,973 total represents a $5,278,785 increase over the previous fiscal year's budget. The City Council is scheduled to vote on its approval following public comment at a regular meeting June 1. The hub is dubbed ENTREPRENEURIAL CENTER: NAME UNVEILED A new base camp for entrepreneurs called 36degreesNorth, slated to open in early 2016, is coming to the heart of the Brady Arts District. On Wednesday morning, dozens of people gathered for a press conference at the Fly Loft, 117 N. Boston Ave., for the unveiling of the name and logo of the new entrepreneurial resource center that will serve as a central gathering place for entrepreneurs. The new 11,500-square-foot space will be housed in the former Universal Ford Motor Co. building, which is under construction at 36 E. Cameron St. When completed, the space will include seven conference rooms and event spaces as well as 10 private offices and 48 desks available for rent. Route 66 facility to be prime attraction The mayor was saying how popular Tulsa's new Route 66 attraction is going to be, but he had to pause to find the right word to describe it. "Facility," Dewey Bartlett decided. "Not museum." During a press conference Wednesday morning, officials made a rather large point of not calling it a "museum" as they announced plans to build a $19.5 million Route 66 Experience along the Arkansas River just outside of downtown. That dollar figure includes $4 million worth of interactive exhibits. Big 12 baseball tournament expected to have nearly $5.6 million economic impact Tulsa World (OK) - May 19, 2015 Tulsa s first Big 12 championship baseball tournament begins on Wednesday, and the five days of competition are expected to be exciting for more than just college sports fans. According to the Tulsa Regional Chamber, the Big 12 Baseball Championship at ONEOK Field is expected to have a total economic impact of close to $5.6 million in revenue. Cherokee Nation Businesses reports record $829 million fiscal year 2014 revenue Tulsa World (OK) - May 12, 2015 Cherokee Nation Businesses, the tribally owned holding company of the Cherokee Nation, reported Monday that it brought in a record $829 million in revenue during its fiscal year The record-setting revenue was up $48 million compared to fiscal year Cherokee Nation Businesses operating income also increased significantly during its fiscal year 2014, climbing to $105 million. Expansions, Openings, Relocations, Acquisitions Compression Solutions opens new company headquarters Tulsa World (OK) - June 8, 2015 Compression Solutions, a Tulsa-based manufacturer of durable medical equipment, will host a grand opening celebration at its new company headquarters at 817 E. Fourth Place. Designed by Rick Winn of Two Architects and constructed by The Ross Group, the company combined two existing structures at a cost of $2.4 million to create the new Compression Solutions building. Construction began in October 2014 and was complete by January. The company has grown significantly in the last few years, and the move enables employees to move from three different facilities into one building. Tulsa's Fine Airport Parking expands to Denver Tulsa World (OK) - June 3, 2015 Tulsa's Fine Airport Parking broke ground Tuesday morning on a new development in Colorado, located just south of Denver International Airport in the city of Aurora. The expansion will be Fine Airport Parking's first location outside of its Tulsa headquarters. The 156-acre mixed-use project called Fine Point Development will include the $25 million construction of the Denver-area Fine Airport Parking. The parking facility will measure 800,000 square feet, or about 30 acres, and is expected to be completed in early

3 TBLN returns to downtown Tulsa World (OK) - June 3, 2015 Tulsa Business & Legal News has returned to downtown Tulsa. The publication has been focusing on Tulsa s business and legal communities since 1909 and has returned to the center of the business and legal communities for the region. The change is brought about by the sale of Community Publishers Inc. out of Bentonville, Arkansas, to BH Media, based in Omaha, Nebraska, the parent company of the Tulsa World. Cherokee health center open after $10.7 million expansion Tulsa World (OK) - June 2, 2015 SALLISAW - The Cherokee Nation announced the opening of its $10.7 million expansion to the Redbird Smith Health Center on Monday. The 30,000-square-foot expansion doubles the size of the existing health center and features a new physical therapy department, mammography and drive-through pharmacy as well as a community safe room. An estimated 145,000 patients will visit the center this year, an increase from nearly 120,000 in 2014, according to the tribe. Office sets up 360 Engineering for growth in many directions The Journal Record June 1, 2015 Two-year-old 360 Engineering Group has bought and renovated a 4,480-square-foot building just east of downtown Tulsa. It will be the first owner-occupied office for the structural engineering firm that was launched in July 2013 by 30-year-old Aaron Landrum and 39-year-old Elli Johannsson. Wal-Mart plots 2 Neighborhood Markets in BA The Journal Record May 28, 2015 Wal-Mart Stores plans to build two Neighborhood Markets in Broken Arrow this year. Tulsa County Courthouse records indicate Wal-Mart Real Estate Business Trust paid $1.85 million to Yale South Corp. for 7 acres along the north side of Albany Street, just east of S. 177th East Avenue. The Bentonville, Arkansas-based retail giant also has filed a conceptual site plan and rezoning request to build a 41,353-square-foot Neighborhood Market at the corner of Dearborn and County Line roads in east Broken Arrow. Tulsa-based Worldwide Restoration acquired by Response Team 1 Tulsa World (OK) - May 28, 2015 Tulsa s Worldwide Restoration Inc. has been acquired by national property restoration company Response Team 1, the company announced Tuesday. Founded in 1996, Worldwide Restoration employs 30 people in the area. The company provides fire and flood restoration as well as full-service cleanup and reconstruction services. Worldwide Restoration will retain its leadership after the acquisition. Changes have not resulted in any layoffs, according to a company spokesman. Worldwide has hired five employees over the last couple of months and plans to hire more people this year. Verdigris facility completes largest-ever maintenance cycle during Q Now 40 years old, CF Industries' Verdigris nitrogen and ammonia plant underwent its largest-ever "turnaround" during January and February of this year. 'Turnaround' is the term used for the full-scale maintenance process that the plant undergoes every few years. This most recent 'turnaround' involved more than 1,000 people and lasted approximately 45 days. During that time period the facility underwent $29 million in maintenance work and $80 million in capital improvements. Those dollar figures represent $10 million more in maintenance work and $20 million more in investment than during the prior turnaround Gatesway Launches Shredding The Gatesway Foundation, based in Broken Arrow, is launching a commercial shredding operation. This is the agency s way of helping the community fight the growing problem of identity theft, according to Sonya Barraza, Gatesway Vocational Program manager. New Jet Service Has Successful Landing Private jet charters faced a bit of headwind during the recession but use by both individuals and corporations is on the rise, fueled by convenience, safety and time savings. Over 300 guests welcomed Jet Linx to Tulsa at an official grand opening celebration held at Tulsa International Airport Legacy Jet Center May 13. Urban 8 Development Holds Launch Party The Urban 8 Launch Party was held May 12 at Girouard Vines in Tulsa East Village and hosted by JoAnna Dorman Blackstock. Urban 8, one of the newest downtown residential developments, is located in the East Village at 222. S. Kenosha. The development features eight three-level townhomes that are available for purchase. City of Tulsa officials, business leaders and project developers broke ground on the project Feb. 14, 2014 BDI announces the opening of new Tulsa branch Tulsa Business & Legal News - May 26, 2015 Bearing Distributors Inc., headquartered in Cleveland, Ohio, announces the opening of a new branch in Tulsa. BDI Branch number 18 is located at 3745 S. 73rd E. Ave. The new Tulsa branch is the company s first in Oklahoma. BDI now has 208 locations worldwide, with the current U.S. count at 84. Talbots celebrates its reopening in Woodland Hills Mall with a grand opening starting Friday Tulsa World (OK) - May 22,

4 After being closed a few months, Talbots has reopened in a new location within Woodland Hills Mall at 71st Street and Memorial Drive. The store, which opened Monday, is celebrating its return with a grand opening that starts Friday and extends through Sunday. Talbots closed its Woodland Hills Mall store in January for renovation and to relocate within the mall. Airport construction work begins Tulsa World (OK) - May 22, 2015 Construction to more than double the number of spaces available in Tulsa International Airport's cell phone lot began this week. The expansion is due to what Tulsa Airport officials expect will be increased demand for the cell phone lot when the first phase of construction on a $26 million parking garage and rental car return facility begins in a few weeks. The cell phone lot, where drivers can wait to pick up travelers arriving on flights, first opened in September 2010 to alleviate curbside congestion during a roadway rehabilitation project. It currently has 25 parking spots. After the planned expansion, the lot will be able to accommodate 69 vehicles. Topgolf is looking to tee off in Tulsa Topgolf International is teeing up to develop its first location in the Tulsa area, it announced on Wednesday. The company said it is seeking potential sites for an operation while it wraps up its efforts to open its first location within the Sooner State in Oklahoma City. Williams puts Rockaway pipeline project into service Tulsa World (OK) - May 19, 2015 Tulsa-based pipeline and processing firm Williams Cos. Inc. has put its Rockaway Delivery Lateral and Northeast Connector projects into service. The lines are increasing natural gas delivery to Brooklyn and Queens. The Rockaway lateral has a daily capacity of 647,000 dekatherms, adding 3.2 miles of new Transco pipeline and facilities in New York connecting to the National Grid System which has 1.8 million customers in Brooklyn, Queens, Staten Island and Long Island. Transco is Williams' interstate pipeline system covering thousands of miles from the Texas Gulf Coast to the eastern U.S. Williams Cos. announces $13.8 billion acquisition of remaining Williams Partners Tulsa World (OK) - May 17, 2015 Tulsa-based Williams Cos. agreed to buy the 40 percent of Williams Partners LP it doesn t already own Wednesday for $13.8 billion. Williams officials said the deal simplifies its corporate structure and should help the parent reduce taxes, increase payouts and accumulate cash for expansion. WPX Energy moving jobs to Tulsa Tulsa World (OK) - May 14, 2015 Tulsa-based WPX Energy confirmed Wednesday it is adding jobs in Tulsa. The move, which comes after a layoff of 44 local (83 companywide) employees in March, should result in a net gain for the company at its headquarters. WPX is relocating 53 people to Tulsa from its office in Denver. In addition, it also plans to hire 40 to 50 more workers locally, spokesman Kelly Swan told the Tulsa World in an exclusive interview Chevron Phillips building new plant Tulsa World (OK) - May 13, 2015 BARTLESVILLE - Chevron Phillips Chemical Co. began breaking ground Tuesday on a polyethylene pilot plant to be constructed at the company's research and development facility in the western area of the city. A premier testing site for polyethylene research, the plant is being built in Bartlesville on a campus that has been a hub of research and development for decades. Company officials did not disclose how large the plant will be or how much it will cost to construct. The pilot facility is expected to open in Steel distributor forges entry into state The Journal Record May 13, 2015 Leeco Steel will enter Oklahoma with a new distribution center at the Tulsa Port of Catoosa. Leeco, a Lisle, Illinois-based division of Birmingham, Alabama-based O Neal Industries, will start with a two-employee Tulsa staff which will receive and ship steel plate products. Layoffs, Closings, Downsizes, Restructures Apache Corp. closing Tulsa regional office Tulsa World (OK) - June 2, 2015 Houston-based oil and gas producer Apache Corp., which has maintained a robust presence in Tulsa for six decades, announced Monday morning that it is closing its local office, which employs 160 people. The Tulsa regional office is shutting down permanently as part of a companywide restructuring. New CEO John Christmann, who came in earlier this year, has completed a full review of operations and decided that the firm needed to consolidate from seven regional offices to three. BNSF plans temporary layoffs with slipping freight demand Tulsa World (OK) - May 28, 2015 BISMARCK, N.D. BNSF Railway Co. says it s planning employee furloughs due to slipping freight shipping demand across its rail network. The company said Wednesday in a statement that it hopes to call back employees as soon as business needs change. The railroad would not say how many employees were being furloughed but that they are at different locations across our network. 4

5 Blue Bell to furlough, lay off more than one-third of its workforce Tulsa World (OK) - May 16, 2015 Blue Bell will reduce the size of its workforce and take other cost-cutting measures, including furloughs and salary reductions, the company announced Friday. Approximately 1,400 employees will be furloughed, and approximately 750 full-time and 700 part-time employees or 37 percent of the total Blue Bell workforce of 3,900 will be laid off, Blue Bell CEO Paul Kruse said. Approximately 20 employees will be laid off at the company s Broken Arrow plant. The company did not have a number of furloughed employees for the local plant.. Current & archive issues of Tulsa Market Brief are available at Comparative Unemployment Rates Period County % MSA % State % U.S. % 2015 April April Source: U.S. Bureau of Labor Statistics. Rates are not seasonally adjusted. 5