Business in brief: Regional energy declines but is expected to pick up

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Regional energy activity declines but is expected to pick up

The Federal Reserve Bank of Kansas City recently released its third quarter energy survey, which includes Oklahoma.

According to Chad Wilkerson, senior vice president at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District energy activity continued to decline but is expected to pick up modestly in the next six months.

“District drilling and business activity declined further in Q3, but revenues grew after declining for three consecutive quarters, and employment continued to increase at a moderate pace,” said Wilkerson. “Firms’ sentiment for future activity improved in light of increased commodity prices.”

The Kansas City Fed’s quarterly Tenth District Energy Survey provides information on current and expected activity among energy firms.

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The survey monitors oil and gas-related firms located and/or headquartered in the Tenth District, with results based on total firm activity. Survey results reveal changes in several indicators of energy activity, including drilling, capital spending, and employment. Firms also indicate projections for oil and gas prices.

The Federal Reserve Bank of Kansas City serves the Tenth Federal Reserve District, encompassing Oklahoma, the western third of Missouri, and all of Kansas, Colorado, Nebraska, and Wyoming, and the northern half of New Mexico.

Texas Roadhouse coming to Owasso

Texas Roadhouse will soon open its doors in Owasso.

Construction on the 7,926 square-foot restaurant, located at 9311 N. Owasso Expressway, began earlier this year. It is scheduled to open in December for dine-in and to-go orders.

Texas Roadhouse is a full-service, casual dining concept serving an assortment of steaks, ribs, chicken, salads, hamburgers and vegetables. Most selections include two made-from-scratch side items and unlimited fresh-baked bread and peanuts.

Owasso’s site is currently hiring for full- and part-time positions to employ a total staff of 215. Those interested can apply directly at apply.texasroadhouse.com. Starting Tuesday, a hiring trailer in the north corner of the parking lot will conduct interviews Monday-Saturday, 9 a.m.-5 p.m.

Once open, the restaurant will serve dinner-only meals Monday-Thursday, 4-10 p.m., and Friday, 4-11 p.m.; as well as lunch and dinner Saturday, 11 a.m.-11 p.m., and Sunday, 11 a.m.-10 p.m.

Buy Broken Arrow launches campaign

Buy Broken Arrow is back for the 28th year starting Oct. 27 through Dec. 11. The campaign, presented by Mattress Firm, focuses on the importance of shopping locally and encourages the community to do so throughout the holiday season.

Additions to this year’s campaign:

Buy BA Benjamins — throughout the campaign Chamber staff will surprise a shopper at two participating merchants a week with $100 in Buy BA Benjamins to spend at that merchant.

Small Business Saturday, Nov. 25 — a live remote in the Rose District from 10 a.m.-noon. Organizers will be promoting participating merchants and handing out giveaways (while supplies last).

Drawing times — times have been lengthened from last year to give Buy BA participants more time to check for winning tickets.

CBRE, world’s largest commercial real estate firm, relocates downtown office

CBRE announced the opening of its 9,891-square-foot office at Santa Fe Square at 521 E. 2nd Street in downtown Tulsa.

CBRE’s office is located on the seventh floor of the building, relocating from its previous location at 1437 S. Boulder Ave.

The new office is part of CBRE’s Workplace360 program showcasing the company’s “Future of Work” space standards, including innovative technology and a wider variety of collaborative spaces designed to support hybrid working.

“Our new Workplace360 office was thoughtfully designed to maximize in-office collaboration and offer our employees and clients an exceptional experience,” said Bob Pielsticker, senior vice president and director at CBRE’s Tulsa office.

“The location in Tulsa’s Blue Dome district provides the ultimate live-work-play experience for our employees as we’re in easy walking distance to many amenities.”

The office features various social spaces that include a 100-foot LED media wall, several individual and group workspaces, and a large boardroom for clients and visitors.

CBRE launched its Workplace360 program in 2013 and has since opened more than 100 Workplace360 offices across the globe. A cornerstone of the Workplace360 model is its “free address” approach with no assigned seating.

CBRE is a Fortune 500 and S&P 500 company headquartered in Dallas, and is the world’s largest commercial real estate services and investment firm.

Glenpool business earn state grants

Three locally owned Glenpool businesses were recently awarded grants through the Oklahoma Department of Commerce’s Business Expansion Incentive Program and the Oklahoma Innovation Expansion Program.

Champagne Metals was awarded $300,000 for continued growth and expansion of its aluminum processing capabilities through the BEIP.

Premiere Steel Services was awarded $150,000 for the architectural and engineering expansion of their $12 million production facility through the BEIP. The additional facility space, an addition to the west side of the existing site, is set to span around 70,000 square feet.

T&L Foundry was awarded $100,000 to support further innovation and increased capacity through the OIEP.

The BEIP and OIEP assist Oklahoma companies in making major capital investments in machinery, equipment, and buildings to grow and boost business expansion investments here.

Champagne Metals, Premiere Steel Services, and T&L Foundry are primary job creators in Glenpool, and the City of Glenpool looks forward to their continued success and new growth through these state grants, a news release said.

WeStreet credit union launches crypto portal

WeStreet Credit Union announced a new Crypto Portal for users to buy, sell and hold their digital currency. The portal was launched in August as an exclusive members-only feature and became available to the public this month.

Cryptocurrency is a general term for any decentralized digital currency, like Bitcoin or Ethereum. These cryptocurrencies are maintained by a peer-to-peer network of computers on a public ledger called blockchain. In the past, crypto was most often traded via unregulated online exchanges. While digital-only exchanges often come with a risk for users, WeStreet’s Crypto Portal aims to change that.

“At WeStreet, we always keep our community, their needs, and their financial goals top of mind. Right now, many of our members and the broader community are looking for an accessible, all-in-one way to invest in cryptocurrency,” said WeStreet Credit Union President and CEO Greg Gallant in a news release.

“We want to empower users and make sure they feel confident in their cryptocurrency ventures, and we believe our Crypto Portal is the best solution on the market for our community.”

WeStreet has partnered with a Qualified Crypto Custodian, a trust company, providing users with a way to manage cryptocurrency assets through their online banking app. Many digital-only exchanges are unregulated, which has been a major cause of billions of dollars of cryptocurrency being lost in recent years. By using a combination of best-in-class systems, the regulated custodian WeStreet has partnered undergoes financial and technology audits, to ensure users’ digital assets are protected, the release said.

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