Meanwhile, the Twin Cities ranked 23rd on Forbes list of larger metro areas.
Business + Economy
Xcel said it would explore new energy commitments to help meet the city’s goals; Minneapolis’ mayor responded positively, and it appears a November ballot measure regarding a city-run utility may be off the table.
Regulators have pledged to lower the level of renewable fuel use that will be required next year.
The southeastern Minnesota community is launching a business incubator as part of a larger initiative to bolster entrepreneurship and attract new businesses.
The company sold its air emissions control business, which helps plant operators meet requirements involving the use of fossil and renewable fuels.
The Wayzata-based company saw its annual and fourth-quarter profits skyrocket, following especially dismal financial results last year.
Target bought a company that hosts a trio of websites that sell beauty products; the deal marks the company’s third e-commerce acquisition since March.
A Star Tribune story suggests that the demise of a Washington transit project serves as a “cautionary tale” for local planners.
After investing in an Australian grain commodities business and beef processing company, Cargill has now purchased Joe White Maltings, an Australian malt producer.
The controversial plan to build a 140-unit apartment building on land once occupied by the House of Hanson, Duffy’s Pizza, the Book House and the Podium was approved Friday on a 9-to-4 vote by the Minneapolis City Council.
CEO Sally Smith said the company plans to have PizzaRev open a Minneapolis location by the first quarter of next year.
A new commercial real estate report cited “lethargic” demand for office space in the Twin Cities.
The Minneapolis City Council met Thursday to discuss forming a city-owned electric utility, but the Xcel Energy CEO is confident the city won’t make the transition.
The credit rating agency also reaffirmed its Aa1 rating for the state’s bonds; it now shares that rating with the City of Minneapolis.
About a week after the project’s planners raised their cost estimate from $1.25 billion to $1.67 billion, they tacked on another $150 million.
Padilla Speer Beardsley will acquire Richmond, Virginia-based PR firm CRT/Tanaka for an undisclosed sum.
President and Publisher Steve Fox has retired after 25 years spent leading Greenspring Media Group, and the company has been sold to a Detroit publishing company.
Duluth's higher education institutions are a big part of the workforce effort.