In the News
Recombinetics Raises $11 Million
Minneapolis Star Tribune-11/19/16
Recombinetics, a St. Paul-based, animal-science and biotechnology firm that participated in DEED's Angel Tax Credit Program and Angel Loan Fund, has completed another round of fundraising. The startup recently completed an $11 million round of equity fundraising, resulting in a total of $24 million from individual investors since 2008.
Labor Market Continues to Tighten
Duluth News Tribune-11/22/16
The tables have turned on the local job market since the recession, as too few people are around to take available jobs. An already-tight local labor market continued to shrink in October, with the number of people working or looking for work hitting a 20-year low. "It's hard to create jobs if you don't have people to fill them," said DEED's Erik White.
Did You Know?
Minnesotans rank second in the country for volunteering. The Corporation for National and Community Service said 35.4 percent of Minnesota
residents volunteered in 2015. The only state with a higher rate of
volunteerism was Utah.
|
Envirolastech Expanding in St. Charles
Recycled materials manufacturer
Envirolastech Inc. will invest $3 million and create 26 jobs at its first
production facility in St. Charles.
The Rochester-based startup, which recycles plastics and glass into building
materials, said it will invest $2 million for machinery and equipment and $1
million for building an 18,000-square-foot manufacturing facility in the
Chattanooga Innovation Park in St. Charles. DEED supported the project with
a $183,766 grant from the Job Creation Fund.
Serving Our Customers
Entrepreneurs who are thinking about doing business in Iran, Cuba or Russia won't want to miss an upcoming seminar sponsored by the Minnesota Trade Office and Greater MSP. "The Inside Story on the Office of Foreign Assets Control" will examine the latest changes in sanctions involving those countries. Christopher Swift, who worked at the Office of Foreign Assets Control and is now a senior counsel at a Washington, D.C., law firm, will be the featured speaker. The free event is set for Wednesday, Dec. 7, at DEED. Go here for more details.
|
