Business

OKLAHOMA CITY – Rep. Collin Duel, R-Guthrie, on Tuesday won committee passage of a bill he says will make the state pro-business and more competitive. House Bill 3498 is a modernization of the Oklahoma General Corporation Act and state LLC statutes. "This is a pro-business bill that would invite new investment in Oklahoma and ensure the businesses that are here remain," Duel said. "It would update numerous outdated provisions to better reflect how corporations actually act in today's economy." Duel acknowledged announcements in the past week of two major Oklahoma employers moving operations to Houston. While this bill might not have changed the outcome, he said, it would have improved the chances of keeping those businesses in Oklahoma. "A number of our corporation and business laws have not been updated in years," he said. "This would help us modernize our corporate structure so Oklahoma can compete with other states." Duel said a number of companies incorporate in Delaware, for instance, because that state has laws similar to what is included in his bill. "This would give financial certainty that our laws will encourage investment," he said. The bill passed the House Business Committee on a vote of 7-1. It now is eligible for consideration in the Committee on Commerce and Economic Development Oversight.

Rep. Brian Hill, R-Mustang, convened state leaders, industry experts and innovators at the State Capitol last week to present findings from an interim study on Oklahoma’s innovation economy and the challenges facing businesses within the state. This is Hill's eighth annual study on this topic. He told attendees that he has pursued this study every year because the business landscape in the state is continually evolving. "I believe we'll be able to identify certain factors that have changed since we began this work," Hill said . "And I hope by that, we can actually find solutions to current problems for our largest employers across this great state." The study, which included presentations from the Oklahoma Center for the Advancement of Science and Technology (OCAST), the Oklahoma Defense Industry Association (ODIA), and the Oklahoma City Innovation District, highlighted measurable progress toward a coordinated innovation framework statewide. Dr. Krista Ratliff, president and CEO of Fires Innovation Science and Technology Accelerator (FISTA) Innovation Park in Lawton, told attendees about how FISTA converted underused real estate into a thriving defense innovation hub and is now home to 28 partners. Ratliff said she continually receives questions about how to replicate FISTA's model in other states. "No one can do it like FISTA," she added . Oklahoma Center for the Advancement of Science and Technology (OCAST) Executive Director Dr. Jennifer McGrail shared about how the agency is helping startups access capital and connections. "Our commitment is clear: innovation in Oklahoma is statewide," McGrail stated . "A founder in Woodward or McAllister or Guymon deserves the same access to the resources as does a founder in downtown Oklahoma City or Tulsa." She said OCAST has already begun to address access to capital by removing some funding barriers and are now identifying pathways that help startups move from concept to customer. She said Oklahoma needs to concentrate on moving from singular successes to a "coordinated statewide innovation economy." "The real question before us is what should come next for Oklahoma?" McGrail said . "We've proven that startups can thrive here. We've proven that investment, talent and bold ideas exist in every region. Now our challenge is to connect them, scale them and position them to compete nationally." She said that, in addition to closing capital gaps and focusing on the future, Oklahoma must begin by rewarding innovation and risk-taking rather than simply incentivizing "what's familiar and safe." Wheeler Bio CEO Pat Lucy said of the 42 new employees hired in the last year, 80% of them have been Oklahomans. He also pointed out how one of the biggest challenges their company faces is out-of-state travel, which has been a headache as they work with clients from across the country. He suggested working with airlines to increase frequency of flights to biotech hubs, like Boston or San Francisco, to help the field grow in the state. Other speakers included Petroleum Alliance President Brook Simmons; Oklahoma Farm Bureau's Amarie Bartel; Oklahoma Cattlemen's Association Executive Vice President Michael Kelsey; Oklahoma Defense Industry Association Executive Director Allyson Carson; Oklahoma Department of Aerospace and Aeronautics Executive Director Grayson Ardies; Dr. Sharon Harrison representing Harrison Consulting Group; Oklahoma Motion Picture Alliance Chair Cassidy Lunnen; Chase Beasley with Tulsa Innovation Lab; OKC Innovation District President and CEO Jeff Seymour; and Chuck Gray, chair of the Governor's Council on Workforce and Economic Development. Hill said that an innovation economy and a thriving workforce is crucial for Oklahoma. "Regardless of partisanship and all of the rural versus urban divide, at the end of the day, we all want better for our children and our grandchildren than what we had," he said . "And by investing in ourselves and infrastructure across this great state, not just two urban hubs, but literally moving our state towards the idea of 10 economic hubs [where] every kid is within one hour of an economic opportunity, that, to me, is success for our long-term play."

OKLAHOMA CITY – Rep. Scott Fetgatter, R-Okmulgee, on Tuesday passed a bill in committee that would allow professional storm chasers to obtain licensing through the state that will allow them special accommodations while they are tracking severe weather. House Bill 2426 passed the House Business Committee 9 to 0. It will now be eligible to be considered in the Committee on Commerce & Economic Development Oversight. "Tornadoes do a tremendous amount of damage in our state to families, homes, businesses and other structures," Fetgatter said. "Storm chasers provide an invaluable service in keeping the public informed about the track of a storm, often providing the first warning for people to take cover. This undoubtedly saves lives." Fetgatter said the bill is still a work in progress as he gains further input from stakeholders. It could be amended before its next committee hearing or before it comes to the House floor for a vote. He stressed, however, that nothing in the measure would change how storm chasers – even amateurs – are able to operate today. HB2426 would simply create an optional severe weather tracker license for those who are professionally employed by a media outlet or affiliated research program at specified universities. This would allow licensed storm trackers to be treated as emergency responders during severe weather events. The measure would authorize them to activate flashing emergency lights on their vehicles so they could proceed through red traffic lights and travel on closed roads and highways. Licenses would be issued by the Oklahoma Insurance Department with a fee not to exceed $500 and a renewal fee of $250. Fetgatter said last year, tornado sirens sounded in the cities of Okmulgee and Morris in his House district, but weather radar had picked up the storms too late, and residents already were in danger. Had it not been for the quick action of a local storm tracker, residents would not have known to take shelter, he said.  Fetgatter said he too has been known to chase storms in his pickup truck, and he's supportive of anyone exercising their right to do this. But he sees value in offering this professional license for those with verified experience. "We love storm chasing in Oklahoma. We've made movies about storm chasing in this state. Nothing in this bill will stop this most American of rights," Fetgatter said. "But we have to be able to give professional severe weather trackers the ability to chase storms without being impeded."