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May 2020 Newsletter.Pdf May 2020 • Chairman’s Update • Commerce/Workforce News • Important Dates • Economic Development Briefs • New Members • Oklahoma Treasurer’s Monthly Report • Recent Roundtable Activities Chairman’s Update Going Forward – The Roundtable Role is More Important Than Ever As we enter a new phase of lessened health impact and business recovery from the Covid-19 pandemic, let me first salute the many Roundtable member companies and organizations who have helped mitigate risks to our state and its citizens. This has been a true leadership moment and you have stepped up. We must stay connected, be innovative and help our leaders craft a strategic recovery and “new normal” resilience plan for our companies, communities and state. Already, six Roundtable members are serving on the Governor’s Bounce Back Brenda Rolls Advisory Committee to provide recovery advice. Creating quality jobs and growing Oklahoma’s economy has always been our mission and increased focus on business retention/recovery is our primary focus today. We address this by supporting the work of the Com- merce Department and dozens of business retention, expansion, start-up, workforce development and supply chain activities. Worldwide economic challenges face us and we must do all that we can to protect our energy industry during this crisis. As we reboot our economy, business recruitment remains critical especially as we consider our own resilience and economic diversification. We must continue to market Oklahoma both domestically and internationally. We have a unique opportunity to provide a quality cost-effective location for increased investment and jobs in aerospace, biotech and health, IT and other industry sectors. Our projects include trade (exporting) and in- vestment missions; marketing Oklahoma globally; hosting prospects, direct contact and hosting site location consultants; economic development strategic planning efforts; and sponsoring special business development events. The Governor and Commerce will be needing our direct assistance in the summer and fall to aggressively market our state. We must also break down all the barriers for Oklahoma's innovation economy, connecting our education pipeline with our future job creation. 1 2019-2020 Officers & Board - Let me take this opportunity to thank our current board members for their outstanding work this year. At our June meeting we will present an outstanding slate of officers and board members to the membership for election. Special thanks to Roundtable Board Governance Committee mem- bers Bill Anoatubby, Chris Scully, Kermit Frank and David Page. Annual Meeting - Please mark your calendar for our annual membership meeting on June 17 at 4:30-6:00pm. Governor Stitt, Lt. Governor Pinnell and Commerce Secretary Kouplen will bring us an update on their busi- ness recovery, expansion and development plans in an interactive “conversation” format. Membership - Your sustained support of the Roundtable is vital to our state’s economic development efforts. Membership renewals will be sent in June and we are looking forward to your continued participation as we support the economic recovery and work directly with our many partner companies and communities. It has been my pleasure to serve as your Oklahoma Business Roundtable Chairman for 2019-2020. The challenges we face today, however painful, will certainly bring new processes and opportunities of how we will work and achieve success tomorrow. We welcome your ideas and input going forward. Sincerely, Brenda Rolls Chairman Important Dates Roundtable Membership Meeting Wednesday, June 17, 2020 Virtual Format 4:30-6:00 p.m. Membership Meeting Interactive Panel Discussion Governor Kevin Stitt, Lt. Governor Matt Pinnell & Commerce Secretary Sean Kouplen Roundtable Membership Meeting Thursday, October 1, 2020 Oklahoma History Center 4:30-6:00 p.m. Membership Meeting 6:00-7:00 p.m. Networking Reception New Members The Roundtable welcomes the following new members: • LegalShield, Ada - Jeff Bell • BNSF, Statewide - Lindsay Mullins 2 Recent Roundtable Activities Finance Strategist Brings Economic Update Over 130 Oklahoma Business Roundtable members and guests attended the March 4 Executive Briefing held in Oklahoma City. Keynote speaker was G. Scott Clemons, Chief Investment Strategist for Private Banking with Brown Brothers Harriman in New York City. The firm provides economic, financial market and investing advice to companies worldwide, including several in Oklahoma. Roundtable member John Patrick Lopez of Lopez Foods working with The Capital Chart Room hosted the speaker and reception. Clemons said the U.S. economy was continuing to grow, admittedly at a modest pace, but the impact of the coronavirus was a determining factor for the remainder of the year. “Disruption to supply chains and consumption resulting from COVID-19 may very well lead to a contraction in the first quarter of 2020 as well,” he added. Governor Kevin Stitt also provided brief remarks to the group. He applauded the recent announcement by American Airlines to invest $550 million in its worldwide maintenance facility in Tulsa. He highlighted efforts to increase the efficiency of state government, outlined his plan for Medicaid expansion and focus on in- creased investment and jobs. Love’s Cup is Unstoppable in 2020! 2020 marks the sixteenth year of the widely acclaimed Love’s Entrepreneur’s Cup statewide collegiate business plan competition. The annual project was a “virtual” suc- cess thanks to the ingenuity of the i2E staff and the many participating student teams from across the state. Earlier this month, despite the challenges of the pandemic, the Love’s Cup continued with presentations, judging and awards, all completed online. (Read the full story and watch the Awards Presentation below) 3 The unique entrepreneurship project helps give college and university students the opportunity to simulate the real world of researching a market, writing a business plan, and making a presentation to potential investors. Signature sponsor is Love’s Travel Stops & Country Stores, along with support from the Oklahoma Business Roundtable, OCAST, i2E and dozens of Oklahoma companies, civic organizations and universities. Love’s Cup is Unstoppable in 2020 – Scott Meacham i2E President https://i2e.org/even-in-a-pandemic-loves-cup-is-unstoppable/ Love’s Vice--President Jenny Love Love’s Cup 2020 Awards Presentation: Meyer hosting the “virtual” Love’s Cup https://i2e.org/loves-cup/ Awards Presentation. Paulsen Scholarships Awarded in Love’s Cup Competition Three outstanding Oklahoma college students have each been awarded $5,000 scholarships in the name of former Roundtable President Donald Paulsen. The Paulsen Award encourages Oklahoma college students to become more involved with business, entrepreneurship and economic development. The students will utilize the funds as they continue their education in Oklahoma next fall. Winners include: • High Growth Undergraduate - Rachel Brown - Oklahoma State University • Small Business Undergraduate - Cullen Edens - East Central University • High Growth Graduate - Dilina Abudurexiti - University of Oklahoma Rachel Brown Cullen Edens Dilina Abudurexiti Each of the students completed a written application and participated in an extensive interview with a panel of Roundtable judges on April 16. Judges included: Jason Constable, AT&T; Michael Davis, Oklahoma Finance Authorities; Bud Miles, Miles Associates; and Daniel Billingsly of the Oklahoma Center for Non-Profits. Oklahoma Hosts Aerospace Research Team Members of PriceWaterhouseCoopers (PwC) global research team made a first- ever visit to Oklahoma in February to assess the scope of state’s defense and commercial aerospace industry. The group was hosted by the Commerce Research team, the Roundtable and top state aviation and aerospace officials. The tour included visits to Tinker Air Force Base and the American Airlines Maintenance base in Tulsa. Information collected will be utilized by PwC in their annual worldwide survey of promising geographic locations for aerospace development. 4 Commerce/Workforce News Reopening of Oklahoma Business Here is the latest guidance and resource list available for businesses experiencing economic impacts related to COVID-19. • Phased Recovery Announced – Open Up & Recover Safely “Ours” Plan On April 24th, Governor Stitt announced three-phased recovery plan for the state. Click here to view the plan. • Comprehensive listing of all Emergency Business Assistance Programs – State/Federal The Commerce Department website contains an update listing of key federal and state business assistance programs. • Weekly Webinar Underway Commerce Secretary Kouplen and Commerce Executive Director Brent Kisling are holding extensive weekly webinars with business and industry and state economic development partners. To join a webinar, click here. 37 Companies Qualify for Manufacturing Reboot Program Grants This program is utilizing $5 million from the Governor's Quick Action Closing Fund to assist existing Oklahoma manufacturers as they retool to develop new products and/or expand current capabilities. Oklahoma Bounce Back Assistance Program Announced – Applications Due May 8 Based on the response and success of the Oklahoma Manufacturing Reboot Program to boost the manufactur- ing industry, the Oklahoma Bounce Back Assistance Program has been created to support high-impact new capital investment across a broader range of industries that will diversify the state’s economy, lead to new product development
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