DEED Roundup - December 3, 2018

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December 3, 2018

DEED in the News

Faribault main street

Faribault is a global businesses hotspot. Can other Minnesota cities learn from its success?
MinnPost 11/30/18

When some state officials think of Faribault, they think of it as a success story. That’s because despite a population of fewer than 25,000 people, Faribault has four major employers owned by companies outside of the U.S., an abundance of foreign investment that experts say is essentially unheard of for a small city in the Midwest. 

State ag, mining, other exports grow 6.5 percent in third quarter
MPR - 11/29/18

Minnesota's agricultural, mining and manufacturing exports grew 6.5 percent to $5.7 billion between July and the end of September, according to DEED. It's part of an ongoing trend in Minnesota, with exports increasing seven quarters in a row. The state is on track to see an overall increase in exports in 2018, the second year in a row. U.S. exports also grew between July and September by 8 percent. A spokesman for DEED, which released the numbers Thursday, said Minnesota businesses have continued to operate as usual despite escalating trade negotiations between President Donald Trump and China.

Medical Supplier and Doctor

Two Minnesota medical device industry suppliers are expanding
Medical Design and Outsourcing - 11/27/18

Two Minnesota-based medical device industry suppliers – Windings and New Plastics Plus – are expanding and adding jobs, DEED recently announcedNew Ulm, Minn.–based Windings makes specialty electrical motors, generators and the sub-assemblies, including for medical products such as surgical power tools, surgical robots, fluid pumps and laboratory centrifuges. The project will create another 20 jobs over the next three years, with DEED providing a $175,000 Minnesota Job Creation Fund award.

Recent Press Releases

State Exports Grow 6.5 Percent in Third Quarter

Sales of Minnesota agricultural, mining and manufactured exports grew 6.5 percent to $5.7 billion in the third quarter of 2018, according to figures released by DEED. Minnesota represents the 19th largest gain in exports nationwide for this period. U.S. exports as a whole were up 8.1 percent during the same period.

“Many of the state’s core industries continue to experience strong export growth,” said DEED Commissioner Shawntera Hardy. “Minnesota businesses are also succeeding at making inroads into newer emerging markets.” 


Recent Blog Post

The Financial technology sector – FinTech – continues to make strides and grow in Minnesota. Recently, Gener8tor, Allianz Life Ventures and Securian Financial announced a partnership to establish the OnRamp Insurance Accelerator in the Twin Cities. Sezzle, a Minnesota-based FinTech startup, just raised $100 million for its short- term installments-based retail system, designed to help younger adults build credit. Finally, Total Expert raised $20 million in venture capital in October towards their continued growth. Learn more about FinTech on our DEED developments blog.

Did You Know?

Minnesotans Number 1 in volunteering

Minnesota is the most charitable state according to data released by WalletHub.  WalletHub used data in 18 different categories like volunteering and charitable donations to decide which state was giving at the most impressive rate. Using that data Minnesota came out on top.