 $6.5 Billion Plan to Transform Rochester
Fast Company-5/26/15
Rochester, the state of Minnesota, the Mayo Clinic and private partners want to spend more than $6.5 billion on a kind of real-life version of SimCity, designed to turn Rochester into a global biotech hub and to double its population in the process. Not everyone, though, wants to see the city so utterly transformed.
FedEx Building Brainerd Facility
Prairie Business-6/1/15
New construction will occur in the Brainerd
Industrial Park for the first time since the Great Recession. Brainerd city
officials said last week they expect work to begin soon on a new
54,000-square-foot FedEx Ground sorting and distribution facility in the park. In
2009, DEED certified the site as "shovel-ready" for new projects. Local
officials said that designation helped attract FedEx to the industrial park.
Minnesota and the Bioeconomy
Biofuels Digest-5/7/15
DEED biotechnology specialist Lisa Hughes talked recently with Biofuels Digest
about the advanced bioeconomy in Minnesota. She says Minnesota is a leader
in the sector thanks to its expertise, diverse feedstocks, infrastructure and supportive
public policy. Ethanol alone generates an estimated $5
billion in economic output annually in Minnesota and creates more
than12,500 jobs, she says.
Minnesotans are among the best in the country at staying current on their financial obligations, according to a study by the Federal Reserve Bank of New York. The study found that 85.2 percent of Minnesotans were current on their credit, behind only North Dakota, Wisconsin and South Dakota. |
State Exports at $4.9 Billion in First Quarter
Minnesota exports of manufactured, agricultural and mining products were valued at $4.9 billion in the first quarter of 2015, according to figures released last Friday by DEED. State exports were down 3.1 percent from the same period a year ago, while overall U.S. exports dropped 5.1 percent. Export sales fell in 33 states in the first quarter.
Blattner Plans $6.2 Million Expansion
Power generation contractor Blattner Energy Inc. is investing $6.2 million to expand and renovate its headquarters in Avon and will create 12 new jobs at the site. DEED is supporting the project with $581,000 from the Minnesota Job Creation Fund. Blattner will receive the funding after meeting investment and job creation goals. The company is the leading installer of wind energy projects in the country.
Ally Financial Expanding in Shoreview
Ally Financial Inc. is consolidating its Twin Cities operations in Shoreview. The company is moving 150 jobs there from Roseville and Bloomington and plans to add 250 jobs within two years. DEED will award Ally $648,301 from the Minnesota Job Creation Fund once Ally completes hiring and investment commitments. The company said it will invest $6.5 million in building upgrades and other costs associated with the move.
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Lueken's Village Foods in Bemidji is more than just a grocery store. The business, which recently qualified for job-training funds from DEED's Minnesota Job Skills Partnership, is developing an aquaponics greenhouse and owns a technology company that provides in-house tech support.
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The Minnesota Trade Office and the U.S. Small Business Administration (SBA) will present a briefing this week for small businesses that need capital to begin or expand export programs. The SBA has three loan programs designed to help small exporters. Carlos Sosa, SBA regional trade finance manager, will review those programs during a session from 8:30 to 9:30 a.m. at DEED on Thursday. There is still time to sign up. Go here for details.
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