New & Expanding Employers
Norman’s business climate is particularly capable of handling economic downturns due in part to the low costs of doing business relative to other parts of the country. These low operating costs have attracted new businesses and induced existing businesses to expand in Norman. Notable examples of new and recently expanding businesses include:
Agio specializes in managed IT services for hedge funds, which supports upwards of 5% of the daily volume on the US equity market. Agio opened their official operational headquarters on the University of Oklahoma Research Campus and created 39 new jobs.
Cimarron Energy, Inc.
Cimarron is a leading designer and manufacturer of natural gas production and processing equipment. Cimarron’s latest expansion, which will generate 141 new jobs, was initiated by their recent approval for participation in the state’s Quality Jobs Program. This state incentive program will give Cimarron energy quarterly cash rebates of up to 5% of taxable wages for up to 10 years.
A family owned company that started repairing electric motors in the 1950s is set to expand into Norman. Evans Enterprises Inc. will add a cluster of buildings on a 13-acre lot worth an estimated $8 million, giving its employees more space to do business.
See article: Evans Enterprises Inc. expands into Norman
Hitachi Computer Products
In January 2010, Hitachi announced a 200,000 sq. ft. expansion of its Norman facility. This expansion was a $20+ million investment project and it consolidated Hitachi’s U.S. distribution operations, relocating all North American and South American functions from Indianapolis to Norman. This expansion saved 300 jobs and has created an additional 75 jobs.
See article: Hitachi plans Norman expansion
Founded in 2011, NextThought offers products and services that enhance online education through engaged learning communities. After starting in NEDC’s business incubator, eTec, the company graduated in 2012 and has created 38 new jobs.
See article: Innovators: NextThought
Immuno Mycologics (IMMY)
IMMY is a US-based organization that was founded in 1979 with a particular focus in mycology, or the study of fungi. Over the last thirty-five years, IMMY has evolved from a company that filled a need in the market to an organization with a global focus on saving lives through their innovative products. IMMY’s planned expansion for 2015 in NEDC’s University North Park Advanced Manufacturing Centre is expected to create at least 50 new jobs over the next 10 years at annual salaries of at least $50,000 annually plus benefits and a $12.5 million capital investment.
Article link: IMMY