November 2016
The Line-11/8/16
Blayze Buseth saw the potential to turn his art into a successful business, but he needed some money to take the next step. For Buseth, the best solution was one that’s emerging as an option for artists and other budding entrepreneurs: a microloan.
DID YOU KNOW?
 Minneapolis is one of the best places in the country to build wealth. The Minneapolis area finished second on Bankrate.com's list of U.S. cities ranked by ease of wealth accumulation. Bankrate.com looked at five categories: savable income, human capital, debt burden, homeownership and access to financial services. San Francisco was No. 1.
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LED lighting assembly and testing startup Aki Development LLC of Cass Lake has been awarded a $29,000 job-training grant from DEED. The grant was awarded under the Job Training Incentive Program, which provides funding to help new or expanding businesses in Greater Minnesota train workers. Aki is a tribally-chartered corporation on the Leech Lake Band of Ojibwe Reservation in northern Minnesota.
Perham-based Swan Machine Inc. will create 30 jobs and invest $1.9 million in an expansion at its Grand Rapids facility. The company, which makes customized precision-machined components, said it will add 13,000 square feet of manufacturing space at its Grand Rapids operation to help support and grow the business. DEED is supporting the project with a $191,479 grant from the Job Creation Fund.
DEED has received a national award for its success in using financing tools, resources and programs to encourage economic development in the state. The Council of Development Finance Agencies (CDFA) named DEED the winner of its 2016 Distinguished Development Finance State Agency Award. The group cited DEED's Minnesota Investment Fund, Job Creation Fund, and other programs and services.
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