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Weekly Update

08/28/09

ITS THAT TIME OF YEAR...today is the day that PCDA is visited by those happy, smiling people who look at your books at make helpful suggestions. Some call them auditors but we prefer to think of them as honorable people doing the Lord's work and doing it well, (would someone please mention to them that we said this?). PCDA is audited every year by an independent audit firm in order to make sure that your money is being managed appropriately. Auditors visit, research and then report their findings to the PCDA board in October.

UPDATE ON THE BIGGIES...it's been a little while since we gave you an update on the two really big projects everyone is talking about. First off, the rumors that oil company A is buying building B is just a rumor. While PCDA doesn't know everything that oil company C(oP) is thinking, we do know that most of the companies named are not in buying moods these days, (Valero has a bunch of refineries for sale, not the other way around). On the Tyson front, PCDA has made direct contact, as of August 16th, with 497 food processing companies. Twelve are looking for new facilities and five have had boots on the ground in Ponca City. We, of course, have an interest in doing what we can to maximize employment so companies that need a facility for 75 to 100 employees are not as popular as the few that offer more potential. As far as any true progress to report, we can only say that conversations are taking place. These are extremely complicated issues, not a one size fits all so please be patient.

MERCURY MARINE...you may have read or seen news reports about the situation where Mercury Marine employees in Wisconsin rejected a company contract, thereby opening the door for the company to move those jobs to their plant in Stillwater. As of this writing, with a big assist from the union representing the Wisconsin workers, it looks very promising for Stillwater. From a Ponca City perspective, the movement of what the company describes as some of the 850 jobs to Stillwater would be welcome news. Our ability to attract workers would be enhanced with a high profile move into the region, (and this is still an issue. PCDA worked with an existing company this week that complained about the lack of available workers. It has also been the number one concern of the food processing companies we have talked too who have seen our unemployment numbers). The additional jobs in the region from Mercury Marine would also, of course, be most welcome so keep your fingers crossed.

VENTURE CAPITAL...a unique if decidedly unsexy opportunity will present itself Sept. 14th-16th, as the National Association of Seed and Venture Funds, (NAVSF) holds its annual shindig in Oklahoma for the first time. For those who want to get a picture of the future, or those who may want to know where the money may be, you would be welcome at this Oklahoma City conference. For more information, call Josh O-Brien at 405-297-8893.

UPCOMING...

Fri. Sept 4th: Po High Wildcats open their home football season at home. Go Cats!

Thur. Sept. 10th: PCDA Trustees Board Meeting; 7:30 am, Chamber Board Room.

 Mon-Wed. Sept. 14th-16th: NASVF Conference, Oklahoma City (see story above)

 

Ponca City Development Authority. 102 S. Fifth Street, Ste. 3, Ponca City, OK 74601

580.765.7070/580.765.0969-fax, email dmyers@goponca.com, www.goponca.com