June 2008

ROUNDTABLE APPROVES MAJOR PROJECTS

The Roundtable’s Executive Committee has approved $179,000 in funding support to seven major economic development projects for fiscal year 2009 (which begins July 1).

These Special Projects represent 32% of the Roundtable’s activity budget and every one of the seven new projects are new within the last two years.

This represents a strong commitment to support technology, entrepreneurs, new businesses and Oklahoma companies. This is in addition to ongoing project support for business recruitment and support to Commerce/Executive branch activities.

Multi-year funding is directed to the highly successful Donald W. Reynold’s Governor’s Cup business plan competition; formation of a statewide Bioscience growth initiative and a major PBS documentary film series, “ReCreating America”, highlighting Oklahoma’s creativity.

One-time funding is directed to the first annual Oklahoma Entrepreneurship Conference scheduled for this fall; the Technology Venture Summit in Tulsa and hosting of two prestigious national meetings: the National Association of Seed and Venture Capital Funds (NASVF) and the International Asset Management Council (IAMC). This council features the nation’s top venture capitalists and corporate real estate executives meeting in Oklahoma for the first time.

INAUGURAL ROUNDTABLE SCHOLARSHIP WINNER ANNOUNCED

OU undergraduate student, Eddie Coates, has been named the recipient of the inaugural Oklahoma Business Roundtable Scholarship Award. The award is a new feature of the Donald W. Reynolds “Governor’s Cup” business plan competition held annually.

The Roundtable Scholarship Award was established to recognize Oklahoma undergraduate students with the initiative to become involved with Oklahoma’s economic development. The $5,000 scholarship is awarded for the 2008 fall semester. Coates plans to use the funds to finish his degree in International Business and Entrepreneurship, as well as a minor in Chinese.

Roundtable members Ed Martin (Ackerman McQueen), Dave McLaughlin (Advance Foods) and Tom Maxwell (The Flintco Companies) served as judges for the scholarship competition.

According to Roundtable Chairman Steve Hendrickson, “Our hope is that this award competition will serve as a catalyst to encourage more Oklahoma student entrepreneurs to create home grown businesses and strengthen Oklahoma’s overall economic development.”

Scholarship winner Coates also addressed members of the Oklahoma Business Roundtable at the bi-annual business meeting in Tulsa on June 5.

Governor Brad Henry and Roundtable Chairman Steve Hendrickson congratulate Eddie Coates, the winner of the first annual Oklahoma Business Roundtable Scholarship Award – in association with the 2008 Don Reynold’s Governor’s Cup competition.

Governor Brad Henry and Roundtable Chairman Steve Hendrickson congratulate Eddie Coates, the winner of the first annual Oklahoma Business Roundtable Scholarship Award - in association with the 2008 Don Reynold's Governor's Cup competition.

Coates is a native of Seminole. He was class Valedictorian and Academic All-State before moving on to the University of Oklahoma. At OU, he has been involved in Crimson Club, a group of students who play host to esteemed campus guests; Lambda Chi Alpha fraternity; and OU’s Collegiate Entrepreneurs organization. Upon graduation, he plans to work in the commercial real estate industry, concentrating on the development side. The Oklahoma Business Roundtable continues to be a major supporter of the Don Reynolds program – conducted by i2E.

WELCOME TO NEW REPRESENTATIVES

The following are new member company representatives to the Roundtable since April:

NEW REPORT LISTS TULSA AMONG NATION’S MOST ATTRACTIVE FOR DATA CENTER LOCATIONS

Oklahoma’s low cost of living, land and electrical power have made it one of the nation’s most inviting data center locations, according to New-Jersey-based The Boyd Co., an independent site selection consulting firm.

In its May 2008 report, “Banking and Financial Services: A Comparative Cost Analysis for Information Assurance Operations,” The Boyd Co. found that Tulsa offers the seventh lowest costs for operating a data center among 45 cities compared.

GOOD NEWS SECTION

New surveys rank Oklahoma City and Tulsa as “cost-effective” locations for new business.

Oklahoma City was ranked 11th lowest cost business location of over 100 global cities surveyed in the 2008 KPMG “Competitive Alternatives” report. The city ranked 2nd lowest in the Midwest region and 4th lowest of 58 U.S. cities surveyed. While Oklahoma City was the only Oklahoma community included in the biennial survey, KPMG did cite the state’s overall business cost advantages.

In its May 2008 report, “Banking and Financial Services: A Comparative Cost Analysis for Information Assurance Operations,” The Boyd Co. found that Tulsa offers the seventh lowest costs for operating a data center among 45 cities compared. Boyd said, “Oklahoma’s low cost of living, land and electrical power have made it one of the nation’s most inviting data center locations.”