Finding quality workers has become a common concern for employers across the country. In northwest Minnesota, that scarcity is growing and is one of the most significant barriers to future economic growth. The Minnesota Department of Employment and Economic Development (DEED) estimates a 1.2% loss in workforce numbers by 2030 as more of the Baby Boom generation leaves the labor force.
In response to that need, the Minnesota Department of Employment and Economic Development has committed $13.5 million to a Pathways to Prosperity (P2P) grantee program to provide clear career pathways to Minnesotans with systemic barriers to employment. The program emphasize...
[ST. PAUL, MN] – Governor Tim Walz announced today that exports of manufactured, agricultural, and mining goods from Minnesota were valued at $6.7 billion in the second quarter of 2022, reaching the highest level on record. Minnesota exports grew 12 percent between the second quarters of 2021 and 2022.
"Minnesota's workers and businesses are fueling, feeding, and supporting the global economy," said Governor Walz. "Our record-breaking exports demonstrate that the world recognizes the value of doing business in Minnesota. We will continue building partnerships abroad that allow our local economies to thrive."
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A new agreement will enable St. Paul-based Affinity Plus Federal Credit Union to provide small business loans across the country.
On Wednesday, Affinity said it will team up with Denver-based online lending platform Funding Circle to provide credit to small businesses anywhere in the United States. As part of their agreement, Affinity will purchase loans originated through Funding Circle.
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Minnesota’s economy showed mixed signals in the first half of 2022, with some indicators demonstrating continued economic stability and others showing signs of cooling. Read more here, as we break down key economic indicators at the mid-year point of 2022.
Highlights:
Minnesota’s real GDP contracted by -2.0% in the first quarter of 2022 after experiencing six consecutive quarters of growth. Real GDP declined in 46 of 50 states in the first quarter, with U.S. real GDP falling by -1.6%. Minnesota GDP remains 1.0% above pre-pandemic peak levels, ranking 24th best among all states.
Minnesota exports grew by 13% in the first quarter o...
Higher education has long been a field of constant change. In the past few years, the rate of change has accelerated with the pandemic as the driver. The pivot to virtual courses was just the tip of the iceberg. For many schools, this wasn’t a huge change—they’d been offering online learning for years, and they had online platforms like Canvas and Panopto in place that could accommodate a broader shift.
But the pandemic also disrupted the market that higher ed institutions primarily serve: employees, both current and future. Even with coronavirus infection rates generally in decline, Minnesota employers are having t...
Lack of summer rain forced Nebraska farmer Kevin Fulton to go underground to find water for his crops. Not a perfect solution: the Ogallala Aquifer, where Fulton tapped in, has pumping restrictions in some areas, just not where Fulton is located. That’s because the aquifer is running dry.
As drought extends its deadly fingers from California to the eastern side of the Mississippi River — a vast stretch of the continent that produces most of America’s food, including three-quarters of its beef cattle and 70% of its vegetables, fruits and nuts — farmers and ranchers are facing a double whammy. The...
Minnesota’s economy showed mixed signals in the first half of 2022. Continued inflation, hiring challenges, a cooldown in GDP output, and uncertainty in consumer spending has negatively impacted business confidence and expectations for the coming year. On the other hand, Minnesota continued to recover job losses, increase labor force participation, reach record low unemployment levels, grow state exports, and maintain elevated business formation levels so far this year.
While uncertainty and signs of cooling in the economy cloud the near-term outlook, Minnesota’s overall economic performance has remained relatively steady at the mid-year point.
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St. Paul – September is Workforce Development Month, a time to honor workforce development leaders and staff across Minnesota, as well as draw attention to the resources available to those looking for work and to employers who need workers. In Minnesota, the Department of Employment and Economic Development (DEED) and its business and nonprofit partners throughout the state are working hard to connect all Minnesotans who need work with employment and to help employers reach often overlooked labor pools.
"At DEED we are laser-focused on connecting people who need work with the employers who need them," said DEED Commissioner Steve Grove...
The Centennial Redwood Falls Golf Club Championship is being held August 27 and August 28
The Redwood Falls Golf Club celebrates 100 years this August. To celebrate there will be a Centennial Redwood Falls Golf Club Championship on August 27 and August 28.
The golf club began in 1922 as a 9-hole course. Twenty-two years ago the course was expanded to 18 holes. General Manager Ryan Fernelius explained this update was not an easy one to make. Fernelius said, “Albeit a somewhat controversial change back in 2000, it has really helped the club grow and expand out to people who would neve...
As it was making its way through Congress, I wrote a piece on the Inflation Reduction Act (IRA) that showed economic benefits from economists, policy experts and small business advocates. Last week, the Senate passed the IRA and on Friday, the House of Representatives passed it, sending it to President Joe Biden for his signature. The president will likely sign this bill into law later this week. This landmark legislation will help small businesses and working Americans by investing in deficit reduction to fight inflation, increasing manufacturing, lowering drug prices, and leveling the playing field by creating a modest minimu...
A company hoping to capture the attention of Gen Z and millennial consumers today can't ignore its corporate social responsibility (CSR) program — that synthesis of tenets like accountability, sustainability and philanthropy, which build up a brand's reputation and, ideally, make the planet a better place. And it's not just consumers who want to put their money towards positive change: Research shows that 70% of investors want to invest in companies with values that align with their own.
Recently, the Covid-19 pandemic thrust CSR efforts into the spotlight, as many consumers wanted their brands of choice to step up during th...
Cindy’s Country Garden Cindy Grams, ‘The Pickle Lady’, specializes in a large variety of pickles, produce and canned foods. Gram’s pickle recipe took 17 years to perfect.
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The Redwood Area Concert Association is pleased to announce its Concert Series schedule for the 2022–23 season and the start of membership sales as of Aug. 1.
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The past 2 years have shown that relying on a single raw materials source is a recipe for disrupted supply chains and an inability to meet customer demand. A robust supply chain is achieved not only by diversity, but also reliability and resilience. An effective procurement and supply chain organization should be one that brings value to the overall organization, which is accomplished by having the right strategic and tactical approach.
We’ve outlined three actionable tips that can be used to consider how to build a more diverse and robust supply chain.
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It’s an anomalous time in the tourism industry.
On one hand, the leisure market has picked up to a point that the numbers are just about back to where they were pre-COVID-19, despite the surge of a new strain of the virus surging in recent months. That’s because travelers have wanted to get back in the swing, as recent numbers from AAA illustrate.
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After two grueling pandemic years, a weary world rang in a tumultuous 2022. With rapid inflation, stock market volatility, and the global ripples caused by an excruciating war in Europe, the only certainty seems to be uncertainty. The current housing market is compounding those challenges in the United States. Thanks to pandemic shutdowns, labor shortages, and supply chain issues, housing inventory at the end of 2021 was already low. With a shortage of approximately 1.5 million homes, there is less inventory to rent or buy than there has been at any time in the past 30 years.
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Phew, the labor market crisis is over! Jobs are growing but the rapid pace of hiring has slowed and people who were reluctant to work due to COVID are returning to the labor force. It sure seems like the labor crisis was a COVID issue, so we can all go back to business as usual. Back to normal.
Not so fast! While the jobs report is better than had been anticipated, there are still signs of stress and volatility in the workforce as well as long term structural challenges. Companies still indicate they cannot get the workers and skills they need...
Don’t miss this incredible event from August 2 to August 4 celebrating agriculture in Minnesota
March is National Agriculture Month and it’s the perfect time to focus on Minnesota Farmfest, a three-day celebration of agriculture, farming and rural life that takes place from August 2 to August 4 in Redwood County, Minnesota.
Minnesota Farmfest brings together the best in agribusiness from across the state and around the country. Farmfest makes it possible for farmers to gather, network, and to learn about new products and services from the more than 500 vendors and exhibitors in attendance. There are live product demonstrations, educational classe...
It really does pay to change jobs. During the second year of the pandemic, according to a new Pew Research Center analysis, half of workers who changed jobs saw their pay increase nearly 10%. The median worker who stayed put saw an inflation-adjusted loss of almost 2%.
It’s long been thought that changing companies leads to bigger bumps in pay than asking for a raise from the same employer. Now, a new analysis of government data confirms that conventional wisdom—but appears to suggest a growing gap in the fortunes of those who stay put versus those who switch jobs, as hig...
The Redwood Area Encompasses Six Unique Communities, Including Belview, Clements, and Seaforth
The Redwood Area of Minnesota has six unique communities: Belview, Clements, the Lower Sioux Indian Community, Lucan, Seaforth, and Wabasso. In Part One of this two-part series, we shared just some of the special qualities found in three of these communities: the Lower Sioux Indian Community, Lucan, and Wabasso.
Now, in part two we’re shining a spotlight on Belview, Clements, and Seaforth, three incredible communities in the Redwood Area.
Belview - Small, Hardworking, and full of heart
Lifelong resident April Soupir shared a little about what life is like in Belview, whic...
Whether you’ve been implementing growth marketing for a while or are new to the practice, you want to succeed. No one likes to miss a goal post. In business, the stakes are high. Not meeting your targets could lead to disappointed stakeholders, future resignations and financial losses. But to achieve success with growth marketing, you must be willing to learn from failure.
Unlike traditional marketing, there’s some experimentation involved. Growth marketers approach their strategies and tactics like scientists. Data and observation fuel a hypothesis, which gets tested to determine what holds water and what doesn’t. Nevertheless, growth marketing does offer tried-and-tru...
Despite the hot, humid conditions, locals turned out in good numbers each night of the Redwood County Fair which wrapped up Sunday in Redwood Falls. Kids were able to enjoy the rides which illuminated the night sky.
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The unemployment rate ticked down two-tenths of a point to 1.8% in June 2022 – yet another record low since the metric has been tracked in 1976, according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). The lowest pre-pandemic unemployment rate was 2.5% in early 1999.
The unemployment rate decline over the month was entirely due to people moving from unemployment to employment. The labor force participation rate ticked up another tenth of a point to 68.5%.
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The Minnesota Department of Employment and Economic Development (DEED) launched the latest round of Child Care Economic Development Grants. These grants authorize $4.85 million over two fiscal years for grants to community partners to increase quality child care providers to support economic development across Minnesota. A total of $2.425 million will be available in this second round of funding; $2.425 million was awarded previously to 14 projects.
DEED is seeking proposals from local governments or nonprofits with experience in the operations, financing, advocacy, or advancement of the delivery of child care services. Qualified parties may request up to $300,000 in stat...
For companies around the world, supply chain snags have been top-of-mind for much of the past year. Delays are common, and U.S. domestic shipping rates for moving goods are up approximately 23 percent over 2020 levels, according to Cass Information Systems, Inc. High demand continues to outpace logistics capacity, and the chronic U.S. truck driver shortage only exacerbates delays. Amidst these trends, rail has become an important option for shipping goods across the United States — especially as trucking costs rise, too.
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Prices are rising (8.6%, to be exact). This isn’t news. We see it at the grocery store, car dealership, and especially at the pump.
But thanks to a mix of slowed business growth and rising labor costs, we’re starting to see something new. Companies like Tesla, Netflix, Wells Fargo, and Carvana are facing hiring freezes and layoffs. Banks and economists have begun sounding the alarm about a looming recession.
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According to the U.S. Bureau of Labor Statistics, unemployment has fallen to pre-pandemic levels, but that doesn’t mean the workforce is simply returning to normal. In March of 2022, a record 4.5 million Americans quit their jobs, leaving 1.9 job openings for every unemployed worker. According to the Institute of Supply Management, filling positions in the manufacturing industry is particularly challenging. According to a recent survey by CNBC, fifty-two percent of all small business owners report trouble finding workers. It’s safe to say that for every employee who resigns, others are contemplating quitting.
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Minnesota Department of Transportation - A project to remove the bridge on old Highway 19 over Sulphur Lake in Morton has been completed. The bridge, which had been closed to traffic since 2010, was removed for the public’s safety.
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Derek and Larissa Guetter are bringing their ATV Big Air Tour to Derek’s hometown with Wabasso Big Air Fest. The Guetters put on the ATV Big Air Tour around the country at locations that include the Toledo Speedway on July 8, the Erie County Fair on August 17 and it’s coming right here to Wabasso on June 30 with the 2022 Big Air Fest.
“This is a fun family event like no other in the country,” said Derek. “We are some of the only people to do this in the world and have almost 20 years of performing for some o...
Are you looking for a good paying job that may not require education beyond high school to start? Consider a career in manufacturing!
Manufacturing could offer you a great career path straight out of high school. More than 60% of manufacturing openings in the latest Minnesota Job Vacancy Survey from Q4 2021 didn’t require any postsecondary education. And according to that same survey the median wage offer for a position in manufacturing in Minnesota is $22.48 to start. That means that half of the current openings pay above that amount. Many manufacturing positions offer opportunity for advancement – with greater responsibilit...
A UI Trust Fund fix was recently enacted and the new law impacts every employer in the state. Unfortunately, this change happened after employers were billed under the old tax rates and many businesses have already paid these higher taxes. On May 9, the Chamber hosted a webinar featuring DEED Commissioner Steve Grove on employers' UI tax bills, as well as Commissioner Roslyn Robertson of the Minnesota Department of Labor and Industry on frontline worker bonuses. Per DEED:
On Saturday, May 7, DEED recalculated the amount of 1st quarter 2022 taxes for about 113,000 employers.
Because most employers had already reported thei...
Twelve youth from the Redwood/Renville 4-H Shooting Sports Club represented the Redwood County VFW in national competition. They competed against other youth from Ohio and California in the Civilian Marksmanship Program Aces Postal event. The Aces Postal is designed to provide competitive opportunities for all athletes. Targets are shot locally and mailed to CMP for computer scoring.
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The City of Redwood Falls announces the groundbreaking date for its new residential and commercial development project. The groundbreaking and ribbon cutting ceremony for The Homes of Reflection Prairie and Reflection Ridge Business Park will take place on Thursday, June 2, from 11 a.m.
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St. Paul – Exports of manufactured, agricultural and mining goods from Minnesota were valued at $6.1 billion in the first quarter of 2022, representing a gain of 13% over the first quarter of 2021, according to a report released today by the Minnesota Department of Employment and Economic Development (DEED). U.S. exports of goods rose 18% between the first quarters of 2021 and 2022, with 39 states and Washington D.C. having positive export growth rates.
“Minnesota exports are a critical part of our economy,” said DEED Commissioner Steve Grove. “Diversified global trade helps ensure that Minnesota’s economy is resilient and position...
There is a great feeling of achievement in creating your own business. You can successfully work for yourself and have flexibility in your daily schedule. The potential for growth, expansion and money is unlimited as long as you are able to maintain your company's progress and profits for the long haul.
In fact, starting a business is just the first step to a new career path or venture. Once that initial excitement fades, it becomes clear that starting a business is the easy part and keeping it alive is much harder.
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The Redwood County Board of Commissioners started their Tuesday, May 17 meeting by recognizing ditch inspector, Brent Lang, for his 25 years of service to Redwood County. The Redwood County Courthouse underwent an asbestos inspection that revealed that there is more asbestos remaining in the courthouse than was previously known.
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Hiring the best person for an open position shouldn’t preclude those with criminal backgrounds. In fact, making second-chance hiring part of your corporate culture can increase employee retention rate, with 82 percent of hiring managers saying the quality of these employees matches or exceeds the quality of other employees.
The Minnesota Chamber recently hosted a virtual event as part of the Workforce Solutions Series to help businesses learn approaches to hiring within this group, as well as how to help them thrive as employees for your business. See below to view the free, on-demand webinar, as well as access relevant resource...
The unemployment rate ticked down three-tenths of a point to 2.2% in April from 2.5% in March, its lowest level ever recorded since such information started being reported back in 1976, according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). The decline in the unemployment rate over-the-month was entirely due to people moving from unemployment to employment. The labor force participation rate rose from 68.1% to 68.3%. Nationally, the unemployment rate stayed the same at 3.6% and the labor force participation rate ticked down 0.2% to 62.2%.
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St. Paul - The Minnesota Department of Employment and Economic Development (DEED) is honored to be named as a Yellow Ribbon Organization for its efforts to recruit, hire and retain employees who are military veterans. In order to become a Yellow Ribbon Organization, an organization needs to develop a sustainable action plan demonstrating long-term commitment to current and former U.S. military service members and their families. DEED's proclamation as a Yellow Ribbon Organization was announced at the opening ceremony for the 16th annual Veterans Career Fair today in Brooklyn Center.
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St. Paul – Today, the Department of Employment and Economic Development (DEED) announced grantee partners for the second round of the Main Street Economic Revitalization Program. This $80 million statewide economic redevelopment program, distributed through two rounds of funding, awards grants to partner organizations to establish programs within specific communities that will, in turn, fund economic development and redevelopment projects. The second round of grants awards over $40 million to organizations across Minnesota.
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Online business databases can be an effective and low-cost way to identify other companies in your market – whether as potential suppliers, competitors or potential customers. Such datasets are often only a starting point, but they can be a valuable tool to assess the landscape and further refine your market research efforts.
Below are five tools that can be utilized at no or low cost to search for other Minnesota businesses.
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It’s May, and the second week of the month is when Economic Development Week is celebrated each year. It’s a great time to recognize economic developers and to share information about what we do here at the Redwood Area Development Corporation (RADC).
RADC works hard all year round to support our six unique communities in the Redwood Area: Belview, Clements, the Lower Sioux Indian Community, Lucan, Seaforth, and Wabasso. We also provide assistance and create programs to help the many incredible businesses in our area to thrive and grow.
The staff at RADC has a lot of experience partnering with local communit...
Recently, Elon Musk announced plans for the Tesla Bot, a humanoid robot that stands 5 feet, 8 inches tall. Musk said the robot “probably won’t work.” I hope he is wrong.
Many people have an adverse reaction to discussions of automation and artificial intelligence. While I understand those fears, I believe we need to embrace automation. In fact, let’s put our foot on the gas — or set the autonomous electric vehicle at max speed. But as we accelerate toward automation, we must reposition our workforce for a successful journey.
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The way businesses in the industrial sector approach hiring new employees has changed. Companies can no longer rely on posting a job ad and sitting back to wait for resumes to flood in. With unemployment rates at an all-time low after the advent of the Great Resignation, the best candidates are already employed. So how do you locate the best talent, and what are the best-recruiting tools? Internal recruitment, agency software, HR recruitment software, and recruitment service providers are just a few of the options available to you.
Hiring Team-Focused Players in the New Normal
How has the COVID-19 pandemic changed th...
Governments, owners, investors, and consumers are demonstrating a steady commitment to net-zero, carbon-neutral, and other goals, with a focus on replacing fossil-based energy systems with renewable energy sources. Who is going to do the work of bringing us this new future? If you’re in the global energy sector…you are.
Leaders of manufacturing and power companies are faced with critical decisions on how to evaluate the best alternatives to fossil fuels and identify the pathways to make those alternatives a reality. So are electric vehicle manufacturers, battery manufacturers, and traditional original equipment manufacturers (OEMs). In addition to power and electrification companies, commercial...
Competing on a national and global scale for large economic development projects — and winning — is a sure sign of a community’s vitality. A community’s ability to position large-scale, shovel-ready land tracts for investment consideration exponentially increases its ability to secure desired jobs and capital investment at the local level.
For years, there has been a traditional understanding of megasite requirements. Originally created to meet the demands of the automotive OEM and allied industries, these sites were assumed to have consistent demands. Important factors have included fully contiguous land space; multimodal transportation, including access to rail; large-scale and redundant utilit...
Bowery Farming, a leading vertical farming company based in New York City, plans to open smart indoor vertical farms in Locust Grove, Georgia, and Arlington, Texas, it announced in January. Each facility will create more than 100 jobs, and they are to be powered by 100% renewable sources. The company supplies greens and herbs to more than 800 U.S. grocery stores and such e-commerce platforms as Amazon, Walmart and Whole Foods Market.
“We’re thrilled to announce our expansion beyond the Northeast and into the Atlanta, Georgia, area,” said Irving Fain, CEO and Founder of Bowery Farming, at the Locust Grove announcement...
What is cryptocurrency?
Cryptocurrency is a digital currency that is not controlled by any government or institution. Cryptocurrencies are not printed and are instead created using computing power.
Cryptocurrency is created through a process called mining. Mining involves solving complicated math problems with the use of computer processing power. The miner who solves the problem gets rewarded in crypto coins, which they can then spend on goods or services online.
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The Minnesota Legislature pushed through a bill to give bonuses to workers who were on the front lines during the COVID-19 pandemic and to replenish the state’s unemployment insurance trust fund following months of negotiations.
Gov. Tim Walz said in a Twitter post that he stepped out of his son’s volleyball game “to sign this important bill the minute we got it passed.”
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The LSIC celebrated the grand opening for the Cansayapi Wicoicage Oti on Wednesday, April 20. The purpose of this incubator building is to expand art and cultural awareness and skills and support business development through intergenerational learning, production and transmission at Cansayapi.
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Vicki’s Camp N Country Jam is a brand new camping and country music festival that will be held July 7-9 near Redwood Falls. Vicki’s Camp N Country Jam will provide a small, intimate camping and country music festival with a VIP experience for all attendees.
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There are few things more frustrating than gathering a team of skilled individuals who just don’t seem to be able to work together well. There is also nothing more fulfilling than creating a team that is supportive, cooperative and results-focused. Effective coaches know how to support teams in a way that will help them to strengthen relationships, improve their performance and reach their goals.
Understanding the coaching process and the desired objectives can help leaders create a culture that is empowering and growth-oriented. Learning to utilize the coaching tools that can best facilitate team growth and collaboration is an essential ste...
The Redwood Area Encompasses Six Unique Communities
The Redwood Area of Minnesota has six unique communities: Belview, Clements, the Lower Sioux Indian Community, Lucan, Seaforth, and Wabasso. In Part One of this series, we’ll share some of the special qualities found in three of these communities: the Lower Sioux Indian Community, Lucan, and Wabasso. We’ll feature Belview, Clements and Seaforth in Part Two of this series on the six communities in the Redwood Area.
Lower Sioux Indian Community
Many exciting things are happening in the Lower Sioux Indian Community. Robert Larsen, President of the Lower Sioux Community, shared that an Intergenerational Cultural Incubator...
Of the 44 Black-owned banks and credit unions in the U.S. with approximately $8.12 billion in assets, none are in Minnesota. That changes today, when Minnesota’s first known Black-owned bank, First Independence Bank, 3430 University Ave. S.E., Minneapolis, opens for business.
“We know that banks represent beacons of hope,” said Kenneth Kelly, chairman and CEO of First Independence Bank. “You can’t go to any major city in this country and not see the largest building in this city having a bank name on it.”
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Driving long-term progress in racial equity in Minnesota’s economy requires new thinking. While incremental changes are important, it’s the systemic changes that examine the root of how systems work and transform them for stronger outcomes that drives lasting change.
As we continue our series on DEED’s five racial equity commitments, today we turn to commitment #3: to reform programs to address systemic barriers.
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Housing continues to be a challenge in many rural communities. Attracting workforce housing development requires intention and a bit of creativity. We have looked across the country to find communities that are using unique strategies to develop workforce housing and are sharing these best practices. Some, all, or a combination of the below could be used to develop housing in our community. Learn more by downloading the whitepaper: PROVEN STRATEGIES FOR SOLVING HOUSING SHORTAGES IN COMMUNITIES ACROSS NORTH AMERICA.
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In 2020, “stimulus check ” and “second stimulus check” were among the top 15 Google searches in the United States.
That same year, an Ernst and Young report estimated that across Organisation for Economic Co-operation and Development (OECD) countries, approximately $1 trillion of workers’ wages were sitting in employer coffers on any given day.
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Wind Turbine Service Technicians top the list of the fastest growing occupations in Minnesota over the next two years, according to projections from DEED's Labor Market Information Office. People working in this occupation install, maintain, and repair wind turbines and generally work outdoors, in confined spaces, and often at great heights. Most Wind Turbine Service Technicians work full-time and in Minnesota the typical wage range is between $24.07 to $34.04. You can find out more about this occupation and watch a short video on our Wind Turbine Service Technician occupation page here on CareerForceMN.com.
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Beth Bidinger, Supervisor of Career Advancement Services at Avivo in Minneapolis, recently started listing no cost training programs on the Training Program Finder on CareerForceMN.com. She’s seen a big increase in interest from people looking for training opportunities. Avivo even had to add a second class option for their pre-requisite courses because the first class session is nearly full.
“Approximately a week after I finalized the postings on the Training Program Finder, I noticed that I was receiving an increase in direct emails and phone calls to me,” said Beth. “Knowing that potential participants don’t normally access my direct email an...
Minnesota’s largest publicly traded companies are heeding calls for improved gender parity on their boards, though the number of women in executive roles is still falling behind the national average.
That’s according to the results of the 2021 Minnesota Census of Women in Corporate Leadership released Tuesday. The yearly report produced by St. Catherine University examined women’s representation at Minnesota’s 79 largest publicly traded companies. As of June 30, 2021, women held 177 seats on the boards of those companies. That means women held 26.6 percent of board seats, marking an all-time high in Minnesota, according to the report.
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In 2021, Minnesota’s total exports reached a record value of $23.5 billion, recovering strongly after a steep decline in 2020. International markets play a key role in helping Minnesota expand its diverse industry base, from agriculture and natural resources to equipment and machinery to semiconductors and medical goods.
Yet, the global pandemic and supply chain woes of the past two years have presented Minnesota businesses with unique challenges to getting goods to international markets.
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Commissioning a housing study is an economic development best practice that can ultimately lead to growth. Individual communities and regions are commissioning them to determine the total demand, the type of housing that’s needed, and the ideal price point for the market. Once complete, a housing study is the best tool for demonstrating to a developer that there is a true need and exactly what that need is. Download the whitepaper, "PROVEN STRATEGIES FOR SOLVING HOUSING SHORTAGES IN COMMUNITIES ACROSS NORTH AMERICA."
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In April, we draw attention to the important role that Information Technology (IT) plays as a key driver of growth in our state and local economy. IT workers are employed across every industry in Minnesota and across the state – and demand and wages are high.
The Minnesota Department of Employment and Economic Development (DEED) projects employment in IT occupations to grow 12.2% between 2020 and 2030, while the average growth of all occupations in Minnesota is 5.7%.
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Retailers from Samsung to Disney are buying 'virtual real estate' sometimes in the millions of dollars to have a presence in the metaverse. Make no mistake, the metaverse is going to be huge and it will happen much faster than the dawn of websites, social media, and smartphones.
WHY JOIN THE METAVERSE NOW?
Economic developers should enter the metaverse because if they don't - they, and their communities, will be left behind. Put simply, economic developers cannot afford to sit back and watch as the metaverse becomes part of people's everyday lives. Take, for example, workforce attraction. People looking for a ne...
The challenges faced in 2020 were unlike any other confronted in our lifetime. The global pandemic wreaked havoc on our personal and professional lives and the U.S. and global economies.
The Commerce Department reports that U.S. GDP declined 3.5 percent in 2020, with the economy falling into recession in February 2020 — a month before the World Health Organization declared Covid-19 a pandemic. The 3.5 percent decline is the worst year for the U.S. economy since at least the end of World War II, as reported by CNBC.
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Covid-19 has resulted in wild gyrations in the supply chain with the hard-hit semiconductor industry having a major impact on U.S. auto manufacturing. From its beginning, Covid-19 resulted in auto plants closing around the country while sales of computers and other consumer products skyrocketed. When automakers resumed production, they found fewer chips available to them. In addition, the pandemic and related supply-chain problems depressed sales and drove up prices for new and used cars. However, market analyst IHS Markit sees U.S. auto production stabilizing in 2022 and attributes this to a stabilization in the semiconductor supply chain.
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It’s no secret that the recipe for economic success usually includes generous portions of innovation and technology. That has been part of the economic development story for many years in such places as Boston, Seattle, the Research Triangle, and Silicon Valley.
But just as you can find more and more cutting-edge restaurants and exceptional craft breweries in sometimes surprising places beyond the most obvious locales, the innovation-based recipe for success is being served up in smaller communities, too, far beyond the places that may first come to mind. When it comes to building an innovation corridor or innovation district, the traditiona...
It seems like the ultimate good-news story. The shift toward electric vehicles will greatly improve the long-term climate health of the planet. It’ll improve human health, too, by reducing pollution. It’ll create thousands of jobs in new industries, with new manufacturing operations lifting local economies. What’s not to like?
Don’t forget that disruptive technologies are, well, disruptive. One person’s opportunity, one community’s economic development win, quite often means disruption for someone else’s livelihood and some other community’s economy. The story is only starting to unfold, but the transition to electric vehicles, or EVs, is shaping up to be the automotive industry’...
For nearly two years, the predominant COVID-19 driven incentive compliance issue looming over companies has been the difficulty to achieve and report on headcount performance as part of economic development incentive agreements.
The evolving workplace landscape precipitated by the COVID-19 pandemic adds another wrinkle to this process. With the trend toward remote work — whether a hybrid scenario or fully remote — our clients, particularly those with an office-based workforce, are evaluating their long-term footprint needs. Seemingly nothing is off the table with respect to the workplace, including hoteling models, employer choice models, flex-worker models, or pure remote worker strategies. Al...
Chances are high that if you’ve been traveling around various regions of the United States in the past few years, you have noticed a solar array where one was not previously. I have had a similar “ah-ha” moment.
You may have been struck by the fact that there are vast solar developments in more rural areas — where site selection for solar installations is more favorable, land is cheaper and larger land tracts are available. You might be further surprised to see that solar farms are popping up in most regions of the country. It’s not just your region.
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Governors Greg Abbott of Texas and Laura Kelly of Kansas are covered extensively in this issue as the winners of the 2021 Governors’ Cups — the former for total qualified capital investment projects last year and the latter for total per capita projects. The governors of the other ranking states in these facilities races also deserve recognition. All governors are their states’ main salesmen and women when it comes to landing the transformative projects that add billions of dollars to their economies and create hundreds or thousands of jobs.
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“I wanted to go into a field to help people. It’s really rewarding for me.”
At age 61, Carol accomplished a career goal she had set for herself a 15 years ago. She earned her degree and now she is working in health care providing care to patients. Carol started her journey in 2007, attending school to become a Licensed Practical Nurse (LPN), but stopped to work full time.
She returned to Pine Technical Community College (PTCC) in 2019 to complete her degree; changing career paths with the goal of becoming a Medical Assistant. Her previous LPN courses transferred, allowing her t...
Minnesota gained 10,200 jobs in the last month on a seasonally adjusted basis, according to numbers released today by the Minnesota Department of Employment and Economic Development (DEED). This follows the addition of 2,500 jobs in December 2021 (revised). The jobs growth from December 2021 to January 2022 is the largest single-month growth since July 2021. The private sector gained 9,100 jobs, up 0.4%, continuing a four-month-long job gains streak.
The unemployment rate ticked down in January 2022 to 2.9% from 3.0% in December 2021. The decline was entirely due to people moving from unemployment to employment. The labor force participatio...
St. Paul – Xcel Energy is leveraging Minnesota Department of Employment and Economic Development (DEED) expertise in training program oversight and grant management to issue a request for proposals (RFP) from Minnesota training providers. The Xcel Energy Power Up training program will provide a workforce training pipeline for a variety of energy-related construction occupations. Xcel Energy is investing $4 million in the initiative, $3.6 million of which will go toward two $1.8 million grants to provide apprenticeship readiness and basic construction skills training over four years. The RFP is slated to open at the end of March and be ope...
DEED’s agency-wide goal in 2022 is to drive an economic comeback from the COVID-19 pandemic, focused on people and businesses who face systemic barriers to growth. In order to do that, we need to know who was most negatively impacted and how systemic barriers play a role in that negative impact.
There is plenty of data to show that Black, Indigenous and People of Color (BIPOC) Minnesotans bore the brunt of job and wage loss during the pandemic. But a deeper dive into the data reveals additional information about what factors – like occupation, industry, part-time vs. full-time work status, an...
Investors are busy people, and many have seen thousands of pitch decks in their careers. They ultimately choose to invest in very few, however, regardless of how interesting some might seem to the average person. The truth is that a good idea isn’t enough; it’s only part of the equation. It’s necessary to convince an investor that you have the right idea, that you’re the right person and that this is the right time.
That last factor is vital: Venture capitalists won’t invest in something which seems to have little urgent need in the world, and wouldn’t have gotten to wher...
As we near the two-year mark of the COVID-19 pandemic, Minnesota’s economy remains in unusual territory. In one sense, the state has crossed the full recovery mark, with economic output (GSP), state exports, new business applications, and unemployment levels all returning to their pre-pandemic baseline or better. Like the rest of the U.S. economy, however, Minnesota faces substantial labor market and supply chain challenges that are slowing job recovery and pose new risks to the economic outlook going forward.
HIGHLIGHTS:
Minnesota GDP rose to $345.5 billion in the third quarter of 2021, exceeding pre-pandemic levels for the second consecutive quarter.
State exports reache...
Jeremy had worked for many years in the hospitality industry, but when COVID hit and the corporate travel business dried up, he was let go from his hotel job in December of 2020. He had grown accustomed to making a good living with his previous employer and he was feeling a bit depressed and scared at the idea of starting over in a new career. After he filed for Unemployment Insurance, he learned about of the Highway Heavy Construction Training & Placement (HHCTP) Program from DEED’s Sylvia Garcia and thought it could be a good fit for him.
“It felt lik...
Recently, the Minnesota Chamber continued its return to in-person events with another chapter of the Women in Business series. The event held at the St. Paul Hotel featured President and CEO of Blue Cross and Blue Shield of Minnesota, Dana Erickson, in her first public event in her new role. Dana shared how her community-oriented upbringing led to a career in health care as a registered nurse and now the first female CEO in Blue Cross and Blue Shield of Minnesota history.
"I worked as a labor and delivery nurse for several years at a suburb of Milwaukee where I actuall...
At DEED, our agency’s mission is to empower the growth of the Minnesota economy, for everyone. Every year, our agency leadership creates goals – and metrics for success – that provide a roadmap for how we can best meet that mission. Today we’re sharing our 2022 goals with the public, so that you know what we’re focused on – and can hold us accountable.
This planning process is grounded in the Governor and Lt. Governor’s vision of One Minnesota, and is informed by the thousands of conversations DEED leaders and staff have with job seekers, business owners, industry leaders, labor representative...
Nonprofits and small municipalities often rely on grant funding to accomplish their missions and keep up with important infrastructure and public works projects. Since 1990, the Redwood Area Development Corporation (RADC) has offered grant writing services to area towns and nonprofits. Services are tailored to each client and their specific needs.
"Our approach is that the entity is the expert in the subject matter, and we’re providing expertise to help them be successful with the grant application process."
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