The state’s unemployment rate fell 0.2 percent as Minnesota employers added 10,800 jobs in November; the trade, transportation, and utilities sector—which includes the retail industry—added the most jobs during the month.
Business + Economy
IronGate Data Centers is already preparing a 270,000-square-foot expansion to its 85,000-square-foot east metro data center; the company aims to attract “very large users” from the East Coast.
Vélo, which will cater to residents with active lifestyles, will offer 101 luxury units and its first level will include 12,000 square feet of retail space.
Despite warnings from economists that the “fiscal cliff” could have dire consequences for the U.S. economy, more than half of those who responded to a recent poll indicated that it might be sensible to take the plunge.
Eagan-based Prime Therapeutics and Bloomington-based The Nerdery are among 100 companies from across the country that received “Hire Power Awards.”
On Tuesday night, the Shakopee City Council will discuss Emerson’s request for a $6 million assistance package; an Emerson spokesman said Shakopee is one of “multiple options” that it’s considering for expansion.
The Hastings-based company has more than 1.5 million members at its clubs; on average, a new gym opens every 36 hours, and a new member joins every three minutes.
The Grand Rapids-based company, which already reclaims iron ore from mining waste at plants in Keewatin and Taconite in northern Minnesota, will invest an estimated $120 million in the new plants, each of which will reportedly employ about 120.
A Twin Cities entrepreneur develops a new approach
to East African development.
Among universities that earned more than $2 million in royalties in 2009, the University of Minnesota reportedly saw the biggest drop during the subsequent two years.
Launched to promote job creation in the state, Jobs for Minnesotans will support proposals to bring mining of copper and other metals to northeastern Minnesota—which it claims will create thousands of jobs.
Imris, Inc., will relocate about 60 employees from its current home office in Winnipeg and hire local residents for an additional 70 positions.
Local companies have pledged monetary support to the American Red Cross and other charities, but they have also offered other types of aid, including truckloads of food, paid vacation to employees dedicated to providing relief, and matching employee contributions; total donations exceed $1.25 million in value.
Eighteen of the new restaurants will be in California, and a single new location will open in the cities of Lansing, Michigan; Independence, Missouri; and Yakima, Washington.
The economic development group said that by the end of 2012, its efforts will have helped create or retain 4,000 Twin Cities jobs.
The company, which has hired 22 people in the metro area this year and anticipates additional hires in the near term, recently relocated to a larger office space.
Some Minnesota companies that were forced to close their East Coast locations as Hurricane Sandy hit the coast Monday reopened stores on Tuesday; meanwhile, U.S. stock markets remain closed but are expected to reopen Wednesday.
Mark Phillips, who became DEED commissioner in January 2011, said he was “a good fit for a good part of the DEED work” but didn’t enjoy the administrative part of his role; he plans to retire in about five years and wanted to end his career in the private sector.