News
Oklahoman Q and A with Phil Busey: Oklahoma City University institute works to develop businesses in Oklahoma
May 1, 2009
Interview by Debbie Blossom, Oklahoman Business Writer
The Oklahoman and Newsok.com
OCU institute works to develop businesses in state
Q: What is the Busey Institute for Enterprise and Leadership, and why was it created?
A: The Busey Institute was created at Meinders School of Business for several proposes. Cathy (his wife) and I established the Institute as alumni to provide ways to give back to OCU. The education we received there has given us the tools to grow our businesses. We met there, and my parents both worked in maintenance at OCU to help put me through undergraduate and law school, and neither were able to attend college. It means a lot to honor them and for us to be able to begin this program with the help of Dean Vince Orza. The Institue has several purposes that include facilitating events, summits and forums on the economy, business and leadership. It also is a way to create scholarships for students.
Q: What did you hope to accomplish this week with the "Business Summit 2009: Aerospace, Energy and the Economy?"
A: This is the third summit we have sponsored. Each year we and the Busey Cos. want to offer a program that addresses current topics in business and the economy in Oklahoma and nationally. We were pleased to have attendance increase every year, and we had over 25 sponsors this year. The topics and presentations were excellent, and we want to build on this for next year. By underwriting the summit, we were able to dedicate all proceeds to OCU for students to atttend the World Business Forum in New York City in the fall and for scholarships. Speakers there include former President Bill Clinton, Jack Welch and others.
Q: The summit focused on two industries - aerospace and energy? How important are those sectors to Oklahoma's economy?
A: We believe these are at present the two most critical industries in Oklahoma. Energy has been a staple of Oklahoma’s economy for decades, and the energy tax supports a major part of Oklahoma's budget. Aerospace employees large work forces in Oklahoma City, Tulsa and around the state. Maintaining and helping grow these industries is vital to Oklahoma’s economy. Tinker Air Force Base, for example, employees 25,000 and contributes more than $3 billion annually to the state's economy alone. Competition is increasing among states for key businesses, and these industries need all of Oklahoma's support.