DEED Roundup – August 13, 2018

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August 13, 2018

In the News

Takeda Banking on Major Biologic Plant in Brooklyn Park
Minneapolis Star Tribune-8/13/18

Woman working at lab

Takeda's factory just off Hwy. 610 in Brooklyn Park is quietly churning out batches of high-tech biologic drug ingredients in a quest to become the largest working biotech pharmaceutical plant in the state.

Takeda acquired the 14-year-old plant in December 2015 and has been working to bring it online since then. The project received a $2 million forgivable loan from DEED's Minnesota Investment Fund and a sales-tax exemption, contingent on capital spending and creation of 190 jobs at the facility.

Construction Growth in Minnesota Outpaces Wisconsin
Finance and Commerce-8/6/18

Construction workers

Construction in Minnesota has bounced back from the Great Recession much faster than in Wisconsin, but not everyone agrees on why.

A new report from the St. Paul-based North Star Policy Institute said Minnesota had recovered all but 650 of the jobs lost in the recession by 2017, while Wisconsin still had about 8,800 to go. The report’s authors believe a series of public investment projects helped Minnesota’s construction industry recover from the recession.

DEED Funding Available for Rehabilitation Projects in Willmar
West Central Tribune-8/6/18

Welcome to Willmar sign

Homes located on the northside of downtown Willmar and businesses within the downtown business district soon can apply for no-interest, deferred loans for eligible rehabilitation projects.

The city's application for a Small Cities block grant of $1.2 million was approved recently by DEED.

Recent Press Releases

PFA Approves $23.83 Million for Greater Minnesota Projects

The Minnesota Public Facilities Authority (PFA) is supporting upgrades for five water infrastructure systems in Greater Minnesota. The PFA approved grants and loans totaling $23.83 million for projects in Baudette, Chisholm, Gilbert, Greenbush and Stewart.

Serving Our Customers

Swedish flag

Sweden has set an ambitious goal of someday becoming one of the first fossil fuel-free countries in the world, while maintaining its position as a leading global manufacturer. Find out how Sweden hopes to achieve that goal when Swedish Ambassador to the United States Karin Olofsdotter appears at an event sponsored by the Minnesota Trade Office and other partners on Sept. 18. Olofsdotter also will offer an update on the current bilateral trade picture between Sweden and the United States. Registration and other details here. 

Recent Blog Posts

North Minneapolis WorkForce Center

Many people have benefited from services at 800 West Broadway, the site of DEED's North Minneapolis WorkForce Center, NorthPoint Health and Wellness, and Minneapolis Public Schools. Among those helped at the facility was Ivan, who came through the doors in search of employment and other support. Read his story at the blog.

Did You Know

Tacks on a U.S. map

Minnesota is tied for 11th place nationally with the District of Columbia for concentration of millionaire households. An analysis by Kiplinger found that 6.57 percent of Minnesota households (144,944) have a net worth of at least $1 million, excluding the value of real estate. Kiplinger cited Minnesota's many major companies, including UnitedHealth Group, 3M and Target. Maryland has the country's highest concentration of millionaire households, at 7.87 percent.