Construction on the new downtown Duluth office tower that will house Maurices’ national headquarters will not begin until spring 2013, about 6 months later than projected.
Economy
Minnesota’s per capita personal income rose 3.74 percent to $46,227 in 2012, outpacing the nation as a whole and all but three states.
Edina-based clean energy developer Geronimo Energy recently announced that it has acquired Midwest Wind Energy’s development portfolio.
A study performed by IBM compares Minnesota’s efficiency in the areas of human resources, finance, payroll, and procurement to the performance of leading private- and public-sector organizations.
Minnesota has regained 159,100 of the 160,100 jobs that were lost during the recession; meanwhile, the jobless rate held steady at 5.5 percent in February.
Eagle Creek Software Services has also partnered with the University of South Dakota to develop a degree program, which is meant to prepare workers for employment as an IT consultant.
A new report found that some Minnesota employers are having a difficult time filling job vacancies, but the reasons vary and cannot be pinned solely on a shortage of qualified applicants.
A construction schedule has not been finalized, but the retailer might break ground on the facility this year; it’s scheduled to open in late 2015.
Minnesota employers added 12,100 jobs in January, but the state’s unemployment rate ticked up 0.2 percent to a seasonally adjusted 5.6 percent—a jump that’s largely attributed to an increase in the labor force participation rate.
The Twin Cities ranks ninth among 358 major metros in terms of patents produced annually—and Rochester ranks third for patents issued per capita.
Local incentives, including a reported $4.9 million tax incentive package, helped lure an investment that city and state officials believe will help retain about 1,200 jobs in Owatonna.
MEDA has surveyed clients representative of hundreds of minority-owned companies it works with each year, for a report on how this part of our economy is doing.
Mortenson Construction was selected as construction manager for the new Vikings stadium; it could make up to $15 million for the project, although that figure could drop significantly if it’s unable to complete the stadium on schedule.
Altec HiLine is awaiting approval for a $250,000 forgivable loan from the state that would aid its planned $1 million expansion in Duluth.
The 42-acre site on which FedEx wants to build is owned by Bremer Bank, but the company will lease it if the City of Maple Grove approves its building plans.
A plan from The Minnesota Sports Facilities Authority calls for 11 percent of Vikings stadium construction contracts to go to women-owned firms and 9 percent to minority-owned businesses; only work by Minnesota companies will count toward the goal.
A proposed expansion of taxes to business services could cause some local businesses to cut jobs or relocate; meanwhile, a Wisconsin lawmaker is trying to lure disgruntled companies across the border.
Construction on a total of 1,344 new Twin Cities homes began last quarter, up 57 percent from the same period in 2011 and the largest fourth-quarter growth since 2007.