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Tulsa Planning For Economic Rebound

Posted at 5:42 PM, Apr 21, 2020
and last updated 2020-04-21 19:38:06-04

TULSA, Okla. — Gas for under a dollar a gallon. Good news if you're filling up your tank, but that's where the good news stops.

Non-essential travel is halted, vacations are on hold and gas prices are at an all time low. For Oklahoma, low oil costs are crippling to the local economy.

But it's not just the oil industry trying desperately to stay afloat, every industry has seen record lows like never before in history.

Debbie Letterman started working for her father's Tulsa based A-Max Sign Co. She says business has dropped almost 60 percent.

To prevent layoffs, Letterman says her sign makers are now doing janitorial work, because of the slow down in business.

"We have a lot of people here that have families and we need to take care of them," Letterman said.

Letterman says she thinks six months to a year to rebound economically could force her to have lay offs.

The Tulsa Regional Chamber partnered with Mayor G.T. Bynum for an Economic Recovery Committee.

Chamber CEO Mike Neal says the plan is to provide guidance for small businesses on how to economically recover from COVID-19.

The recovery committee consist of advisers from some of the biggest companies in Green Country including, QuikTrip and American Airlines.

23 advisers in all will meet weekly to discuss ways to restore the economy quickly. But in a way, coronavirus cases are contained.

"The game plan is to figure out a way to rapidly and yet safely reopen this economy," Neal said. "We'll be listening closely to Dr. Bruce Dart and the Tulsa Health Department.

The complete list of the committee advisers is as follows;

Steve Bradshaw, Bank of Oklahoma

Chet Cadieux, QuikTrip

Gerry Clancy, University of Tulsa

Carlin Conner, SemGroup (retired)

Kevin Gross, Hillcrest Medical Center

Marilyn Ihloff, Ihloff Salon & Day Spa

Ben Kimbro, Tulsa City Council

Dave Kollmann, Flintco

Paula Marshall, Bama Foods

Josh Miller, George Kaiser Family Foundation

Steve Mitchell, Argonaut Private Equity

Mike Neal, Tulsa Regional Chamber

Elliot Nelson, McNellie’s Group

Jeff Nowlin, Ascension St. John

Erik Olund, American Airlines

Pete Patel, Promise Hotels

Anja Rogers, Senior Star Living

Larry Rooney, Manhattan Construction

Peggy Simmons, American Electric Power

Casey Sparks, ASM Global

Barry Steichen, Saint Francis Health System

Kathy Taylor, Lobeck Taylor Family Foundation

Rose Washington, Tulsa Economic Development Corp.

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