Great River Energy News

How Minnesota's economy depends on small businesses

Thursday, July 11, 2019

Minnesotans around the state owe their paychecks to small business owners. The Department of Employment and Economic Development (DEED) reported that in 2016, 60 percent of private jobs in greater Minnesota were with businesses that employed fewer than 500 employees. These businesses pay taxes and provide economic stability during even the worst economic times, according to DEED. Small businesses increased by 5 percent in spite of the Great Recession. They were a source of stability for rural parts of the state that saw large organizations shed workers. Now, though, small businesses need to keep up with wage growth if they want to continu...

Best States to Live in

Wednesday, July 10, 2019

Deciding on a place to call home can be a tough process. You’ll need to balance things like the cost of living with job opportunities, quality of education and safety. Personal preference also comes into the equation, as you’ll want to live somewhere with the types of attractions, recreational opportunities and weather that suit you. Luckily, there’s 50 states to choose from, from frigid Alaska to sunny Florida. Each has its own benefits and drawbacks. If you do the math, some states clearly outshine others in various categories. To find out the best states to live, WalletHub compared the 50 state...

DEED Names Assistant Commissioner for Workforce Services

Saturday, July 06, 2019

The Minnesota Department of Employment and Economic Development (DEED) announced that Carol Pankow will serve as Assistant Commissioner for Workforce Services. Within DEED, the workforce services division helps individuals overcome barriers to employment and develop job skills by providing a range of programs and services for laid-off and unemployed individuals. Click here to view the original article from DEED.

Launch Minnesota: Come Help Us Grow Minnesota’s Startup Ecosystem

Thursday, June 20, 2019

One of the most exciting outcomes of the 2019 Legislative session for DEED was the creation of a new program called Launch Minnesota. Designed to nurture technology startups and entrepreneurs across the state, Launch Minnesota will work with private industry to create financial incentives and programming to demonstrate that Minnesota is committed to fostering an innovation ecosystem that draws global attention. The program concept grew out of a collaboration between DEED and the Minnesota Legislature – with legislators on both sides of the aisle making meaningful contributions. It is a joint initiative with private businesses and nonprofit organizations statewide. Click here t...

Minnesota’s Angel Tax Credit Is Back. Here’s What You Need to Know.

Wednesday, June 12, 2019

Minnesota Gov. Tim Walz and other state lawmakers have reinstated a program that gives tax breaks to investors backing Minnesota startups. The angel tax credit provides incentives to investors backing small businesses in Minnesota. It was (in general) popular among local startups, and when you look at the numbers it’s easy to see why. Between 2010 and 2017, more than $420 million was invested in 855 Minnesota businesses through the state’s angel tax credit program, according to the Department of Employment and Economic Development. In 2017, about 48 percent of investors were non-Minnesotans whose investments made up about 53 percent of all investment tha...

USDA to offer $16B in funds for farmers

Monday, June 10, 2019

The USDA will offer more than $16 billion in programs to help farmers impacted by trade disruption and “unjustified retaliation.” U.S. Secretary of Agriculture Sonny Perdue announced that the USDA will take several actions to assist farmers with programs that estimate the “impacts of unjustified retaliatory tariffs on U.S. agricultural goods and other trade disruptions.” Click here to view the original article from the Litchfield Independent Review.

Minnesota ranked third-best state in U.S. News & World Report survey

Saturday, June 08, 2019

The U.S. News & World Report survey ranks states based on 70 metrics, including education, health care, the economy, public safety, roads and the fiscal health of the state's government. As states go, it doesn’t get much better than Minnesota, according to an annual “Best States” survey by U.S. News & World Report. The Land of 10,000 Lakes came in at No. 3. The survey ranks states based on 70 metrics, including education, health care, the economy, public safety, roads and the fiscal health of the state’s government, as well as “the opportunity it affords its residents,” the report said. Click here t...

Minnesota teens savor best summer job market in years

Friday, June 07, 2019

They’ve noticed storefront windows flush with “hiring” signs. Their friends have jobs. And they say Google, that all-knowing oracle for teens, has been serving up a buffet of options from simple web searches. It means Joe Kinsman will fill his summer days dishing out soft serve at Conny’s Creamy Cone in St. Paul. Harshini Sunil will be whipping up drinks at Caribou Coffee in Plymouth and teaching dance. Cole Boelter will be wooing passersby with fuzzy llama prizes at Valleyfair game booths in Shakopee. Click here to view the original article from the Star Tribune.

Business Expansions Reflect State’s Diverse Economy

Thursday, June 06, 2019

Minnesota’s diverse economy is reflected in the 226 business expansion projects that were publicly announced in 2018 and tracked by DEED. These projects were spread across the state and involved companies of all sizes in more than 40 industries. While complete data is not available for all of the projects, these expansions represent at least 8,829 new jobs and 1,672 retained jobs. They also reflect new investment of at least $2.4 billion and over 7.5 million square feet. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

DEED Names Director of CareerForce

Wednesday, June 05, 2019

The Department of Employment and Economic Development (DEED) announced that Lorrie Janatopoulos has been hired as Director of CareerForce. Led by a network of private, public and nonprofit partners throughout Minnesota, CareerForce guides people toward rewarding careers, connects individuals to employment opportunities, and provides valuable economic and employment development information to employers. Within DEED, the CareerForce team manages and executes the direct services efforts of our workforce development work, in contrast to our grant-making team that deploys capital to partners for workforce development. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

Minnesota Exports up 1.5 percent in the First Quarter of 2019

Sunday, June 02, 2019

Exports to Europe grew 14 percent to $1.4 billion ST. PAUL – Minnesota exports grew to $5.4 billion, representing growth of 1.5 percent between the first quarters of 2018 and 2019, according to a report released by the Minnesota Department of Employment and Economic Development (DEED). U.S. exports grew 1.4 percent during the same period. Minnesota exports grew to markets within Europe (up 14 percent) and North America (up 4 percent), but fell within Asia (down 8 percent) and Central and South America (down 1 percent). Click here to view the original article from Minnesota Department of Employment and Economic Development.

Minnesota manufacturing thrived last year despite long list of challenges

Sunday, June 02, 2019

Several of the state's largest manufacturers, such as General Mills, announced or closed major acquisitions, many of them ranking among their largest deals ever. A robust U.S. economy helped bolster overall sales for Minnesota’s manufacturers last year as they weathered a litany of challenges, such as a severe labor shortage, rising freight costs and the trade war with China. Manufacturing is Minnesota’s largest and most diverse sector on the Star Tribune 50, with expertise ranging from motor homes to ice cream bars. Several of Minnesota’s largest manufacturers in the past 12 to 18 months announced or closed major acquisitions, many of the...

Minnesota Exports up 1.5 percent in the First Quarter of 2019

Saturday, June 01, 2019

DEED Tracked 226 Business Expansion Projects in 2018

Monday, May 27, 2019

They represent at least 8,829 new jobs and $2.4 billion in new investment ST. PAUL – Minnesota had 226 business expansion projects in 2018 – up from 187 the previous year, according to tracking by the Minnesota Department of Employment and Economic Development (DEED), based on publicly announced expansions. While complete data is not available for all of the projects, these expansions represent at least 8,829 new jobs and 1,672 retained jobs. They also reflect new investment of at least $2.4 billion and over 7.5 million square feet. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

Six Minnesota Businesses Awarded $1.5 Million from Job Creation Fund

Friday, May 24, 2019

ST. PAUL – Business expansion projects in four Greater Minnesota communities and two metro locations will create more than 200 new jobs over the next three years. The Minnesota Department of Employment and Economic Development (DEED) is supporting these projects with grants totaling $1.5 million from the Job Creation Fund. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

Enticing Businesses to Stay

Monday, May 13, 2019

Trying to attract businesses from outside the community or launching startup businesses are key economic development activities. However, economic developers generally agree that the most practical strategy for growth is Business Retention and Expansion, or keeping established businesses in the community. Enticing Businesses to Stay, co-authored by Michael Darger, University of Minnesota Extension, and Cameron Macht, DEED, looks at results from DEED’s Business Employment Dynamics dataset and provides insights and examples from ongoing business retention and expansion projects in Barnesville, near Fargo-Moorhead, and Cottage Grove, metro area. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

DEED Names Deputy Commissioner for Workforce Development

Sunday, May 12, 2019

Recently appointed Assistant Commissioner of Economic Opportunity Hamse Warfa has been promoted to Deputy Commissioner for Workforce Development here at DEED. In this role, Warfa will continue to lead the Office of Economic Opportunity, and will also take on leadership of Employment and Training Programs, CareerForce, and the Governor’s Workforce Development Board. Warfa’s experience in the philanthropic/nonprofit and private sectors has helped him bring great thinking to DEED’s workforce efforts. After interviewing dozens of candidates for our commissioner-level roles in workforce development, I’m confident that Hamse is the right leader for these efforts. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

PFA Awards Over $28 million in Water Infrastructure projects

Saturday, May 11, 2019

ST. PAUL – The Minnesota Public Facilities Authority (PFA) approved $28.35 million in loan and grant funding for water infrastructure projects in Minnesota. Funding was approved for Crystal Bay Township, Fertile, Glencoe, Glenwood and Rice County. “I’m working hard to rebuild infrastructure in every corner of our state,” said Governor Walz. “I’m excited that $28 million dollars will be going directly to these greater Minnesota communities to help improve their water quality. Everyone in Minnesota deserves clean drinking water–regardless of their zip code.” Click here to view the original article from the Minnesota Department of Employment and Economic Development.

Best & Worst States for Women

Thursday, April 25, 2019

In 2019, women in some parts of America still get the short end of the stick — even as they outnumber men in most states. For instance, women represent nearly two-thirds of all minimum-wage workers in the U.S. Their political representation also suffers, as women make up 51% of the U.S. population but only 25% of the Senate and 23.4% of the House of Representatives. And the prevalence of sexual harassment remains a prominent issue in 2019’s political landscape. In order to determine how women are faring and where they can find the best opportunities relative to where they live, WalletHub compared the 50 states and the Distric...

MSP named best airport in North America for 3rd year in a row

Wednesday, April 24, 2019

It shared the honor this year with Detroit. Minneapolis-St. Paul International Airport continues to fly high atop the rankings for the best airports in the world. The Twin Cities travel hub was named the best airport in North America for its size for the third year in a row by Airports Council International (ACI). Click here to view the original article from Bring Me The News.

Building up gender diversity

Tuesday, April 23, 2019

If enrollment growth at Dunwoody College of Technology is a good tape measure, women are poised to made big strides in Minnesota’s construction industry. Women currently make up about 18 percent of all students in the school’s popular construction management program, up from just 2 percent a decade ago, said Heather Gay, who has taught at Dunwoody since 2008. Click here to view the original article from Finance & Commerce.

Budget for One Minnesota: Minnesota Innovation Collaborative

Monday, April 22, 2019

States and cities that create attractive environments for startups, entrepreneurs, and innovative talent are quickly distancing their economies from those who do not. For every one job created in the innovation sector, five more jobs are created in adjacent sectors – the strongest network effect in job growth today. Minnesota must put our economy on the cutting edge of this ecosystem by making strategic investments in our innovation ecosystem. The proposed Minnesota Innovation Collaborative (MIC) contains a series of initiatives focused on growing Minnesota’s innovation economy by accelerating the growth of our startup ecosystem and attracting top technology talent to the state. Comprise...

DEED Names Assistant Commissioner for Economic Opportunity

Saturday, April 20, 2019

Will lead strategic, department-wide efforts to address economic disparities ST. PAUL - The Minnesota Department of Employment and Economic Development (DEED) announced that Hamse Warfa has been named Assistant Commissioner for Economic Opportunity. This external-facing role will work with stakeholder groups, DEED partners, and local officials and boards across the state to advance economic equity in our State and amplify DEED programs that target under-invested and under-capitalized communities of color. Additionally, the position will work internally with DEED's senior leadership team to bring a lens of equity into the agency and champion department-specific objectives against priorities for economic equity. Click here to view the origina...

Study: Minnesota is No. 3 in the nation for life expectancy

Wednesday, April 10, 2019

The results are based on average life expectancies over a 6-year period. A person born and raised in Minnesota can expect to live 5.5 years longer on average than someone born in Mississippi. That's according to 24/7 Wall Street, which ranked each state after analyzing life expectancy data between 2010-2015 from the National Association of Public Health Statistics and Information Systems and the Robert Wood Johnson Foundation. Click here to view the original article from the Bring Me The News.

Q & A: New DEED leader talks budget, workforce

Tuesday, April 09, 2019

Minnesota’s new economic point person is bringing a tech executive’s love for innovation to the role. Northfield native Steve Grove, commissioner of the Department of Employment and Economic Development, has spent the past 12 years as a senior leader at YouTube and Google, most recently leading a team focused on innovations in journalism. A Minnesota native, he moved back to the state in April 2018 with his wife, Mary, a San Diego native (“This is definitely her first Minnesota winter,” Grove says) and 2-year-old twins. Click here to view the original article from Finance & Commerce.

Minnesota Innovation Collaborative

Monday, April 08, 2019

The Minnesota Innovation Collaborative will support a series of new initiatives designed to accelerate the growth of startups and innovative companies. Each initiative is uniquely designed to lower the risk required to fund, start, or grow a venture-backed startup in Minnesota. The MIC will bring all of these initiatives together under a new office that acts as a touchstone for the state to support and enhance our visibility and interest in the innovation ecosystem. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

Expo Gets Youth to Think About Careers; Employers, the Next-gen Workforce

Monday, April 01, 2019

An HR executive, truck loader, court reporter and physical therapist will be among 25 Minnesota professionals who are blind, DeafBlind, or low-vision networking with blind students at the 2019 Career Expo sponsored by State Services for the Blind. The Expo highlights the diversity of career paths for job seekers who are blind. This free event, focused on high school and undergraduate students, will be held Sat., April 27 at Minnesota Department of Education, 1500 Highway 36 West, Roseville, Conference Center B. Click here to view the original article from the Minnesota Department of Employment and Economic Development.

American manufacturing companies have a spring in their step

Thursday, March 28, 2019

Foxconn's latest reversal suggests manufacturing is undergoing a revival, especially among agile smaller firms and those using advanced techniques. When Taiwanese giant Foxconn announced plans to build a massive factory for high-end televisions in 2017, many cheered, including President Donald Trump. Electronics manufacturers had long ago abandoned America for cheaper countries, especially China, so the investment seemed to mark a reversal, albeit one that came with a significant amount of subsidies. But what Foxconn will do in southeastern Wisconsin is now in question. The company has discovered that it is hard to get thousands of Midwesterners to work long hours at stressfu...

Walz Budget Plan Includes Restoration of Angel Tax Credit Program

Tuesday, March 26, 2019

The Medical Alley Tech Association lauds the move, noting that the Angel Investment Tax Credit generated at least $108 million in investment in the state’s health tech industry over a five-year period. In Governor Tim Walz’s two-year, nearly $50 billion budget plan, heavy emphasis was placed on funding education, roads, and health care. However, Walz also served up support for the startup community with a proposal to restore the state’s Angel Investment Tax Credit (AITC) program. The tax credit was a state-sponsored rewards program for investors who take high-risk bets on technology-focused products, entrepreneurs or startups. It provided investors or investment funds wit...

Tax credits proposed to spur business investments in Minnesota

Friday, March 22, 2019

Gov. Tim Walz, legislators want to reinstate the angel tax credit program. State lawmakers and Gov. Tim Walz want to replenish funding for a lapsed program that gave tens of millions in tax breaks to investors who helped start businesses in Minnesota. The state could spend up to $20 million a year on investors who support startups, under a proposal in the Legislature. Walz did not commit to an exact amount but told members of the TwinWest Chamber of Commerce that the tax credits will be part of the budget he unveils. Click here to view the original article from the Star Tribune.

University of Minnesota launches startup incubator to aid new ventures based on university research

Thursday, March 21, 2019

The University of Minnesota announced the launch of a startup incubator to support companies that are spun out of research undertaken at the university. The "Discovery Launchpad" program was developed by the university's Venture Center to support researchers who want to bring new technology to market. It's currently working with eight startups and plans to graduate eight from the program this fiscal year. Click here to view the original article from the Minneapolis/St. Paul Business Journal.

Budget for One Minnesota: Child Care Investment and Integrity

Tuesday, March 19, 2019

For many Minnesota families, child care is a necessity, yet a growing number of Minnesotans can’t access it – it just doesn’t exist. The number of licensed family childcare providers has decreased almost 30 percent in Minnesota since 2005, according to the Minnesota Department of Human Services. Census data from 2014 show that about 310,000 children in Minnesota ages 0-5 have both parents or guardians in the workforce and likely need some form of child care. Lack of affordable, quality child care is a significant barrier to workforce participation that can negatively affect job and wealth creation, business expansion and retention...

Anoka County recognized for economic partnership

Friday, March 01, 2019

The Anoka County Regional Economic Development Partnership was honored with a 2019 Economic Development Association of Minnesota Award during EDAM’s Winter Conference in St. Louis Park. The award was given to the Anoka County Regional Economic Development Partnership — which was formed in 2017 as a collaborative effort between Anoka County, Connexus Energy and the MetroNorth Chamber of Commerce — for its Economic Development Roadmap and innovative partnership. Bruce Sayler, principal of community and economic development at Connexus Energy, was nominated for his key role in getting the partnership started, and he accepted the award on behalf of the partnership. Click here to vie...

From Bold North to True North—Explore Minnesota Unveils New Campaign

Friday, March 01, 2019

“Find Your True North” ads launch this spring to promote the state’s $15.3 billion tourism industry. Minnesota’s Super Bowl may have been bold, but in 2019, the northern spirit will be marketed as true. “Find Your True North” is Explore Minnesota’s new tourism campaign, unveiled at the annual state tourism conference in St. Paul. It furthers the state’s shifting identity away from the midwest and into the “North,” a moniker that started as a grassroots movement and has grown steadily—right up to the national stage last year when Minneapolis hosted Super Bowl 52 with “Bold North” as its tagline. Click here to view the origina...

Anoka County recognized for economic partnership

Thursday, February 28, 2019

Google looking at Becker to build a $600 million data center

Wednesday, February 27, 2019

The development would be powered by two dedicated wind farms, according to a regulatory filing by Xcel. Google is looking at building a giant Minnesota data center in Becker that would cost at least $600 million and be powered by two dedicated wind farms. The data center, essentially a big building full of servers, was disclosed in a regulatory filing by Minneapolis-based Xcel Energy, which would play a big role in the project. The Google server farm would create about 50 full-time tech jobs and about 2,000 construction jobs over 18 to 24 months. Click here to view the original article from the Sta...

Twin Cities metro has second-highest rate of female breadwinners in the country

Monday, February 25, 2019

The Minneapolis-St. Paul metro area is the second-best in the country for women making more money than their partners, broker service Lendingtree announced. Their rankings were based on the results of the American Community Survey, which is an ongoing project by the U.S. Census Bureau. Lendingtree looked at the 50 largest U.S. cities and their metro areas. Click here to view the original article from Business Journal

These Minnesota companies made Fortune's 'Most Admired' list

Friday, February 22, 2019

Three Minnesota companies landed spots on Fortune magazine's annual ranking of the world's most-admired companies. The list, which is compiled by Fortune with management consulting firm Korn Ferry, ranks the largest 1,000 U.S. companies (along with some big non-U.S. companies from Fortune's Global 500), and solicits impressions of each from 3,750 executives, directors and analysts, using criteria like social responsibility, long-term investment value and the companies' ability to attract talent. Click here to view the original article from Business Journal

Denmark picks Minnesota as its 'bridge' to U.S. med-tech

Wednesday, February 20, 2019

A new $1.3 million economic-development initiative called MedTech Bridge is trying to capitalize on Denmark's strengths. Denmark is widely known for its large health care companies, such as Coloplast and GN ReSound, and impressive bridges like the 5-mile-long Öresund Bridge to Sweden. A new $1.3 million economic-development initiative called MedTech Bridge is trying to capitalize on Denmark’s strengths in medical inventions, and bridge-building, by creating international connections to help Danish companies grasp the vast but bewildering U.S. health care market. Click here to view the original article from the Star Tribune

These Minnesota companies made Fortune's 'Most Admired' list

Tuesday, February 19, 2019

Report Outlines Early Outcomes of Minnesota Equity Grants

Thursday, February 14, 2019

Grants have helped further develop nearly 1,500 businesses; train almost 50,000 individuals ST. PAUL – Grants focused on programs that assist Minnesotans of color, women, youth and people with disabilities have helped further develop nearly 1,500 businesses and assist almost 50,000 career seekers and youth with employment, education and support services across the state, according to a new report released by the Department of Employment and Economic Development (DEED). The report outlines the work that resulted from passage of the Equity Article, a one-year, $35 million supplemental package of strategic investments that was passed by the legislature in 2016. In 2017, the legislature continue...

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