Governor Mark Dayton said more than $400 million from the budget surplus should be used for business and middle-class tax cuts.
Real Estate
Wayzata Investment Partners is selling a Texas power plant to a Houston company for nearly $300 million more than it paid for the plant in 2011.
Uponor, a Finnish plumbing and indoor climate systems manufacturer, has added 75 jobs in Apple Valley this year and expects its latest expansion to lead to additional hiring.
A new report states that there were 31 business expansions announced during the most recent quarter—bringing the tally to 112 during the first nine months of 2013.
The facility's owners hope that a new Timberwolves and Lynx training facility will bring “cachet” to the long-troubled property.
In recent years, studies by Forbes, the Brookings Institution and USA Today found that Minneapolis had bounced back—or bounced ever so gently—on the galloping waves of the recession.
Health Dimensions Group bought Chris Jensen Health and Rehabilitation Center in Duluth and has plans to upgrade the center and add a housing facility.
DataBank is nearing completion of one Edina data center upgrade and said it’s now planning a second Twin Cities facility.
The company is projecting 2013 sales of $152 million, about half as much revenue as it reported a few years ago.
The retailer is closing locations in Florida, Georgia, Arizona, and California based on an analysis of their specific financial performances.
The apartment vacancy rate at the end of the third quarter in the Twin Cities was 2.5 percent; a rate of 5 percent is considered to an equilibrium point between landlords and tenants.
Tin Whiskers Brewing is reportedly gearing up to open a taproom in downtown St. Paul’s Rossmor building.
The building, which will be owned by Maurices, will be 10 to 12 stories, rather than the previously planned 15, and the overall cost will be reduced as well.
A deal announced Monday, which must be approved by the Minneapolis City Council, calls for the city to pay $48.5 million for the renovation, as well as at least $50 million in ongoing capital improvements.
Summit recently paid $2.3 million for a building that will house a new canning line.
The luxury “Regatta” condos in Wayzata are one of just a few condo projects now underway.
The land, adjacent to the Metrodome, is essential to the development of the $975 million new Vikings stadium.
The developer Hines plans 291 new units amid an increasingly competitive downtown market.