News

Olivia committing $70,000 to Minnesota Main Street Program

Wednesday, December 26, 2018

(Olivia MN-) The City of Olivia Economic Development Authority has voted to approve committing up to $70,000 to fund the first two years of the Minnesota Main Street Program. They are hoping the MMSP will help revitalize the downtown area. The Renville County Register says the Olivia Hardware Hank is closing. They are holding a going out of business sale. Owners Don and Karen Theise are retiring. The paper also is reporting H and L Motors in Renville has been sold by Larry and Gary Eckhoff to Robert Persson of Montevideo. Continue to full article  
Helping Startups Succeed—and Stay—in the Midwest

Tuesday, December 25, 2018

At the University of Minnesota, launching a new company is one of several ways that breakthrough research can move beyond the lab to benefit the public. But finding the right leader, with the right experience, to bring these new technologies to market can be difficult. “Leadership is just as important as intellectual property to a startup’s success,” said Mary MacCarthy, Venture Center program manager with the U’s Venture Center in the Office for Technology Commercialization. “The biggest challenge the U of M has with launching our startups is finding skilled, available CEOs with experience in particular industries.” Continue to full article
Number of Women-Owned Businesses Increased Nearly 3,000% since 1972, According to New Research

Monday, December 24, 2018

The Eighth Annual State of Women-Owned Businesses Report, Commissioned by American Express, Finds Women Are Starting an Average of 1,821 Net New U.S. Businesses a Day Number of Firms Owned by Minority Women Has Grown by Nearly 3 Times That of All Women-Owned Firms Over the Past 11 Years NEW YORK--(BUSINESS WIRE)--Women started an average of 1,821 new businesses per day in the U.S. between 2017 and 2018, according to analysis in the 2018 State of Women-Owned Businesses Report, commissioned by American Express (NYSE:AXP). This level of new business formation by women is greater than the daily average during the pre-recession period...
Rochester, Twin Cities Ranked Among Most Innovative On Earth

Friday, December 21, 2018

The Australian data research company 2thinknow released its 11th annual Innovation Cities Index this month. See how Minnesota cities ranked. ROCHESTER, MN — Innovation isn't easy. Case in point, your kids have heard of Netflix and Facebook, but will give you a blank look if you talk about Blockbuster or MySpace, two companies routinely listed among the biggest to fail specifically because they didn't innovate. So when we say three Minnesota cities were just ranked among the most innovative on Earth, it's — with apologies to Ron Burgundy and the movie "Anchorman" — kind of a big deal. Continue to full article
How are we doing? Minnesota near top of 'best economy' states

Thursday, December 20, 2018

A ranking of state economies using metrics like poverty rate, home ownership, job growth and education puts Minnesota ahead of California (and, more important, Wisconsin).  USA Today reports on the listing, compiled by financial site 24/7 Wall Street. Minnesota comes in No. 7 overall, just behind Hawaii. The state scored points for its low unemployment rate (3.1 percent at the time of the survey), GDP annual growth rate of 1.7 percent (the 14th best in the list) and an especially high home ownership rate of 71.3 percent.   Continue to full article
MEDA recognized as best (again) by U.S. Commerce Department

Wednesday, December 19, 2018

Minneapolis-based MEDA, the nonprofit minority business counselor and lender, has been recognized for a third consecutive year by the U.S. Department of Commerce as the nation’s top performer among 40 Minority Business Development Agency Business Centers. MEDA scored tops for overall performance, including job creation, financing, contracts and exports secured for clients. The nonprofit earned the same top national honors for its performance in 2016 and 2017. “This national recognition further confirms the impact of MEDA services, and [our] ability to fuel Minnesota’s economic growth by opening doors for minority business entrepreneurs,” CEO Gary Cunningham said in a prepared statement. “We share this honor...
New York Times sends reporter to State Fair, discovers Minnesota's greatness

Tuesday, December 18, 2018

Our beloved Minnesota State Fair gets a glowing feature — and they didn't even make fun of us.  This is no grape salad write-up. No outrage needed this time, Minnesota. Yep, the New York Times published a story last night about another one of our most-treasured institutions — and got it right. In “A Newbie at the Minnesota State Fair,” a freelancer writer (who just moved here) goes to the Great Minnesota Get-Together and completely gushes. Continue to full article
Minnesota's unemployment rate hits an 18-year low, with good trends for blacks, hispanics and teens

Monday, December 17, 2018

Minnesota is enjoying it's third highest 3-month job growth rate since 1990. There's more good economic news for Minnesota when it comes to job growth. Department of Employment and Economic Development researchers say while the state's overall unemployment rate hit an 18-year low at three percent for the month of July, subsets within the population are doing even better. DEED Research Director Steve Hine says they've seen an among Minnesotans with less than a high school diploma, unemployment dropped nearly seven percentage points, mostly due to teen unemployment dropping 6 percent. Continue to full article
Innovation Voucher Award Program

Sunday, December 16, 2018

Financial Awards Give Small Businesses Access to Technical Assistance The Innovation Voucher Award Program provides $5,000 to $25,000 awards to help small businesses purchase technical assistance and services necessary to advance research, development or commercialization of new or innovative products and services. Qualifying businesses receive awards – which the recipient must match on a 50 percent basis – to reimburse for expenses incurred for assistance and services rendered by public universities, colleges, technical schools and non-profits in Minnesota. Reimbursable expenses include purchased technical assistance and services in research, technical development, product development, commercialization, market development, technology exploration, and improved business practices, including strategies to...
3 Percent

Friday, December 14, 2018

MN's unemployment rate has been at or below 4 percent for four years straight Minnesota’s seasonally adjusted unemployment rate fell to its lowest level since June 2000 – 3 percent. Our unemployment rate has been at or below 4 percent for four consecutive years. (The US unemployment rate in July was 3.9 percent.) Employers added 11,200 jobs in July and 31,800 jobs over the past three months, the third-highest number of new jobs over a three-month span dating back to 1990. Continue to full article
1973: The year Minnesota became above average (and stayed there)

Wednesday, September 26, 2018

The Aug. 13, 1973, issue of TIME featured Minnesota Gov. Wendell Anderson in a now famous pose.  The cover story, “Minnesota: A State that Works,” noted, “if the American good life has anywhere survived in some intelligent equilibrium, it may be in Minnesota.” What few at the time realized was that 1973 was the year Minnesota became above average … and it has stayed there ever since. Continue to full article
Wisconsin, Minnesota construction gap stirs debate

Wednesday, September 19, 2018

Construction in Minnesota has bounced back from the Great Recession much faster than in Wisconsin, but not everyone agrees on why. A new report from the North Star Policy Institute, a progressive think tank based in St. Paul, shows that Minnesota has seen stronger growth in both total construction employment and construction wages than Wisconsin since the financial crash a decade ago. Using state and federal data, the authors say that both states lost about 32,000 construction jobs, about 25 percent of their total workforce, in the crash. By 2017, Minnesota had recovered all but 650 of the jobs lost since 2007, while Wisconsin...
Innovation Voucher Award Program

Monday, September 10, 2018

Financial Awards Give Small Businesses Access to Technical Assistance The Innovation Voucher Award Program provides $5,000 to $25,000 awards to help small businesses purchase technical assistance and services necessary to advance research, development or commercialization of new or innovative products and services. Qualifying businesses receive awards – which the recipient must match on a 50 percent basis – to reimburse for expenses incurred for assistance and services rendered by public universities, colleges, technical schools and non-profits in Minnesota. Reimbursable expenses include purchased technical assistance and services in research, technical development, product development, commercialization, market development, technology exploration, and improved business practices, including strategies to...
State Gains 11,200 Jobs in July

Sunday, September 09, 2018

Unemployment rate drops to 18-year low ST. PAUL – Minnesota employers added 11,200 jobs in July, according to seasonally adjusted figures released by the Minnesota Department of Employment and Economic Development (DEED). With those gains, the state has added 31,800 jobs over the past three months, which is the third-highest number of new jobs over a three-month span dating back to 1990. Over the past year, Minnesota has gained 59,931 jobs, a 2 percent growth rate. The U.S. growth rate during that period was 1.8 percent. The state’s seasonally adjusted unemployment rate fell to 3 percent in July, the lowest level since June 2000....