3M, Tennant, and Donaldson recently lowered their earnings outlooks, citing current economic conditions.
Business + Economy
DiaMedica, which is developing drugs to treat diabetes, chose to move to the Twin Cities because of the area's strong life sciences sector, among other benefits.
The company plans to add 87,000 square feet to its former headquarters building in downtown Minneapolis, which is now a research and development facility.
Friday will be Mark Phillips’ last day at DEED; Minnesota Trade Office Executive Director Katie Clark has been appointed to succeed him in the position.
The monthly job gains were driven largely by the education and health services sector, and the state has now recovered nearly 90,000 jobs since hitting a recessionary trough in 2009.
Individuals who can benefit from the grants include former workers of General Mills, Delta Air Lines, Medtronic, and Best Buy.
Chart Industries, which is New Prague’s largest employer, plans to add a 111,525-square-foot manufacturing facility to accommodate 80 new employees in the Minnesota city.
Princeton hopes that an entrepreneurial contest will attract new businesses and strengthen its downtown economy.
Minnesota ranks fifth among all states in terms of ethanol production capacity—and every dollar invested in building ethanol plants within the state between 1990 and 2011 generated $8.13 for the state’s economy.
Small businesses owners in the state who responded to a recent survey said that the economy and jobs are the most critical issues in the upcoming presidential election, while ethics, honesty, and corruption in government are also important when selecting a candidate.
New business filings for the first three quarters of 2012 totaled 47,069, compared to 39,977 for the same period in 2011.
The renovated 8.8-acre site is expected to house a commercial kitchen and a produce and fish farm—and it is among the locations being considered by St. Paul’s Flat Earth Brewing Company, which is looking for a larger space.
Minnesota’s state and local governments collected $4,587 per person in taxes in 2010—and spent $8,848.
The new openings are in addition to the roughly 600 Twin Cities positions the company has added over the past year and a half.
As part of the State Trade and Export Promotion initiative, 210 Minnesota small businesses will receive assistance aimed at boosting exports.
The previous record was set in fiscal 2011, when the university spawned nine start-ups.
The company will break ground next week on a 144,000-square-foot expansion and expects to complete it by late summer 2013.
However, there is a silver lining: The state has added 24,500 jobs in the past year, representing a growth rate of 0.9 percent—and Minnesota’s unemployment rate still remains well below the national rate, which was 8.1 percent last month.