DEED in the News
DEED hosted a round table in Rochester Friday with local tech entrepreneurs. Entrepreneur Andy Vig attended the event to learn more about how the Governor’s budget will support startups. "The idea of creating something new is really exciting and seeing people's interest in that and seeing people get excited about that is really motivating," he said.
The $10,000 in alterations made last year to the lower level of Porch and Cellar restaurant in Rochester’s former railroad depot could help fund $275 in downtown infrastructure this year. Likewise, the $70,000 spent to remodel a portion of the former Paine Furniture building for the now defunct Chocolate Twist ice cream and candy shop could provide the city with an additional $1,925 in annual state infrastructure funds. It’s all part of the state’s funding formula for the Destination Medical Center initiative
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John Freivalds, a veteran Twin Cities businessman, Latvian immigrant and recently named Minnesota’s first honorary counsul for Latvia, will recognize a long-held dream on Thursday when he is joined by the Latvian ambassador in opening a Latvian consulate office at a reception Thursday at the American Swedish Institute in Minneapolis. The event also will include the Minnesota Trade Office, which is planning a trade mission to the country of about 2.5 million people on the Baltic Sea that also borders Russia.
Cottage Grove has given the green light to a $54 million factory that will turn air into money. That’s the business model of Airgas USA, a Philadelphia-based company that sells liquid oxygen, nitrogen and argon for use in manufacturing, medicine and other industries. To land the deal, the state has estimated Airgas is eligible to receive up to $175,000 from the Minnesota Job Creation Fund and $250,000 in forgivable loans through the Minnesota Investment Fund.
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Recent Press Releases
Minnesota exports of goods grew 10 percent between 2017 and 2018, reaching a record high of $23 billion, according to a report released today by DEED. U.S. exports grew 8 percent during the same period. Minnesota’s solid export performance led to the state’s ranking rising to 20th highest in exports among all states in 2018, up from 23rd last year. Export growth was strong, even within an environment of continued uncertainty created by changing trade policies in the U.S. and trading partners.
Recent Blog Posts
Ignite Cup, a DEED-sponsored Southern Minnesota startup competition to connect and grow the entrepreneurial ecosystem will be held Tues., April 16 at Red Wing Ignite, 419 Bush Street, Red Wing. Here's what's behind the spark. Keep in mind: Small Business Development Centers provide the professional expertise and guidance every small business owner needs to succeed in today's business world. In 2018 Minnesota SBDC clients created 228 new small businesses, accessed $135 million in new capital investments, created or saved more than 5,800 jobs and grew revenues by more than $80 million. Regional offices are located in southern Minnesota.
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