DEED in the News
The Southeastern Minnesota League of Municipalities released a study with an updated economic forecast for southeast Minnesota. The SMLM will use this economic forecast to better prepare for Minnesota's changing economy.
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South Central College was recently awarded $200,000 under the Minnesota Pathways to Prosperity program, which is administered by DEED. DEED awarded 57 grants totaling $17.9 million across the state in April, as part of the program. The SCC's grant focused on healthcare and manufacturing training for qualifying people in Rice, Scott and Waseca counties. Working with Faribault Public Schools/Community Education and Workforce Development, Inc., SCC is able to offer Rice County Adult Education students programs and services for workforce development and training opportunities.
A stall in hiring around Minnesota extended to a second month in September but the state’s unemployment rate dipped another notch anyway. The unemployment rate fell to 2.8 percent last month from 2.9 percent in August, DEED reported Thursday. Minnesota last had a 2.8 percent unemployment rate in May 1999. The state’s all-time low rate is 2.5 percent, reached in early 1999.
DEED awarded just over $2.35 million in grants to infrastructure projects in the Greater Minnesota area. The funding awarded from DEED’s Greater Minnesota Business Development Public Infrastructure Grant Program(BDPI) was approved for the cities of Jackson, St. Joseph and Faribault. It is expected to create an additional 166 full-time jobs and prepare these cities for future growth.
The Public Facilities Authority (PFA) approved $6.1 million in water projects for the cities of Houston, Lucan, and Sacred Heart. The funding will support projects ranging from a new drinking water plant in Houston to the rehabilitation of the sanitary sewer lines in Sacred Heart.
Minnesota’s seasonally adjusted unemployment rate fell to 2.8 percent in September, according to data released by the DEED. That is the lowest state unemployment rate since May 1999 and only three tenths of a point above the all-time low of 2.5 percent in both January and February 1999. The U.S. unemployment rate was 3.7 percent in September 2018.
Serving Our Customers
Be sure to mark your calendar on November 7, 2018 for the Minnesota Venture Conference. Each year, innovators gather to share knowledge, pitch ideas and build their business network. This DEED-sponsored event attracts hundreds of investors, entrepreneurs and executives with the aim of connecting small entrepreneurs with capital. See more on how to sign up here.
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