The recent $18.8 billion buyout by ONEOK of Magellan Midstream Partners has cleared a federal hurdle.

The companies announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with ONEOK’s pending acquisition of Magellan.

The law requires companies to file premerger notifications with the Federal Trade Commission and the antitrust division of the U.S. Justice Department for certain acquisitions.

The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the transaction, which is expected to be finalized in the third quarter of 2023.

The buyout remains subject to approval by both ONEOK shareholders and Magellan unitholders.

Adams Creek Town Center, a new 200,000-square-foot retail concept by the Parkes Development Group, is coming to Broken Arrow on 23 acres near Kenosha (71st) and 23rd streets.

The new development will be immediately east of the Lowe’s store at Hillside Drive and west of County Line Road.

Parkes Development Group is a 44-year-old construction company that has built centers in all 50 states. Their expected capital investment for the project is $37.1 million and promises retail brands that will be new to the city.

Kohl’s, Burlington Coat Factory, Carter’s, Five Below, Shoe Station, Painted Tree, and Burkes Home Centric have already shown an interest in the new project.

Broken Arrow Economic Development Manager Jennifer Rush said it had been a struggle to develop the property due to high construction costs and what infrastructure was needed for the area.

“This is a true example of a public/private partnership process,” Rush said. “Not only will this development impact Broken Arrow, but it will also impact development on the eastern part of the city,” Rush said.

A delegation of state, industry and educational leaders attended the recent Paris Airshow to highlight the aerospace industry in Oklahoma, the state Department of Commerce said.

The delegation included those in roles in the state’s “vital efforts to supply and grow an aerospace workforce for the more than 1,100 aerospace and defense entities operating in Oklahoma,” including the Oklahoma Aeronautics Commission, Rose State College and Southwestern Oklahoma State University.

“Aerospace is the second-largest industry in Oklahoma and has been identified as an area of critical occupation need,” said Diana Lovell, president of Southwestern Oklahoma State University.

“We’ve focused on building strong workforce programs to train the next generation of aerospace and defense workers right here in Oklahoma — and I was proud to showcase these programs and our state’s initiatives at the Paris Airshow,” Gov. Kevin Stitt said in a statement.

Oklahoma has nine colleges and universities which offer aerospace degrees and certifications, including the first university in the U.S. with a PhD program focused on UAS design at Oklahoma State University. The state’s university system estimates nearly 5,000 aerospace and engineering program completions annually.

In 2022, the state also was a leader in high school aviation curriculum in offering the Aircraft Owners and Pilots Association (AOPA)’s four-year “You Can Fly” high school curriculum.

A Tulsa-based business and its founder are among recipients of $40,000 grants from a national accelerator organization.

Camelback Ventures announced its 11th cohort of education and conscious tech fellows who are leading social impact ventures across the U.S., it said last week.

Among the recipients is Celena Green, founder of ProsperWorks, Inc., of Tulsa.

ProsperWorks, a part of 36 Degrees North downtown, uses behavioral science, software, and an employee-centric focus to help small businesses empower and incentivize their employees to achieve their most critical metrics through gainsharing.

“We envision a future where we not only build up the human capital of small businesses as they operate but also provide future investment for when owners are ready to pass on their business. Through employee ownership, we will generate increased wealth for current owners and future employee owners,” it states on its website.

The grant will support ventures and “become part of the #CamelbackFam — a network of 130+ entrepreneurs and counting,” the accelerator said.

Mark Allen is putting the finishing touches on a new car dealership in Collinsville.

“It’s going to be a beautiful store,” said Allen, owner of Mark Allen Buick GMC. “The place is absolutely awesome. I’m pumped up, ready to go.”

Allen is relocating his current facility off of U.S. 66 in Tulsa to a 40-acre plat off of U.S. 169 and 146th Street in Collinsville. He also owns Mark Allen Chevrolet off of U.S. 75 in Glenpool, which will continue to remain in operation.

Thompson Construction out of Tulsa broke ground on the new 60,000-square-foot facility in October 2021, and is nearing a tentative completion date of July 13, Allen said.

The expansion north will allow his team to serve more communities outside of south Tulsa, where Allen has operated Buick GMC since May 2017.

“I like Collinsville,” he said. “I think that market out there is untapped and needs a good dealer. That area is just full of little towns and lots of people that need good service.”