July 2011
www.okcchamber.com
legislative priorities ACHIEVED at capitol The 2011 session of the Oklahoma Legislature adjourned on May 27. It was a very successful year for the Greater OKC Chamber, with most all of its legislative priorities being achieved. “The Chamber’s Government Relations team worked diligently throughout the session to engage legislators,” said Bradley W. Krieger, Arvest Bank, vice chair of Government Relations for the Chamber. “Thanks to the hard work of our team and the commitment of our members to work with legislators, we were able to accomplish many things during the 2011 session.” Following is a recap of the 2011 Legislative Session as it relates to the Chamber’s priorities.
Priority: Enact major lawsuit (tort) reform
Result: Significant lawsuit reform enacted, including:
• $350,000 cap on non-economic damages in negligence cases
• Elimination of joint and several liability
• Damages limited to defendant’s degree of fault
• Other reforms including improved jury instructions and class action petition requirements Continued on page 10
Global Convention Showcases OK’s Growing Bioscience Industry
Last month, Oklahoma’s growing bioscience industry had a delegation of more than 70 – including Oklahoma Governor Mary Fallin – positioning Oklahoma at the BIO 2011 International Convention in Washington, D.C., the world’s largest conference for biotechnology industry professionals. Delegates included scientists, business leaders, educators and economic development professionals. They spent four days promoting the accomplishments of the growing Oklahoma bioscience sector, and made valuable business connections to continue the growth of this important industry. Governor Fallin’s appearance marked the first time Oklahoma’s governor has joined the delegation.
The region’s bioscience employment grew 17.8 percent between 2001 and 2008, outpacing the 15.9 percent growth in employment nationally. The industry continues to provide high-quality, high-wage jobs – with an average annual wage of nearly $50,000, more than $12,000 greater than the average private sector annual wage for Greater Oklahoma City. A study released earlier this year showed that the bioscience industry contributes $6.7 billion in total economic activity to the region, supports 51,000 total jobs earning $2.2 billion in employee compensation, and generates $227 million in state and local taxes. “The recent findings of our Battelle Bioscience study reinforce how vital bioscience is to our economy,” said Roy H. Williams, president & CEO of the Greater Oklahoma City Chamber, which organized the trip. “We have new companies forming, new Continued on page 9