It's Our Business

Career Connect Day – Tomorrow’s Leaders

8/29/2022

So excited to talk about our upcoming Career Connect Day, on October 18, at RiverCentre. This year’s event will welcome 2,500+ high school sophomores to an interactive day of career exploration with you, the employers who would like to introduce them to potential opportunities within your organization and sector. Our vision is to make this available to any high school or student interested in participating, with room for all employers who want to connect with them. Our first year is building up to be even bigger than we’d anticipated, and we look forward to seeing you! If you’d like to participate with a booth or sponsorship, please contact us for more information. Our vision? For 2024, we’ll expand and partner to invite all metro high schools that are interested, and add a second day for post-high schoolers looking for full-time, internships, retraining, or re-entry. Please join us!

On a side note: Invest magazine is a great resource on markets, business, and the economy, and one I read regularly. I spoke with them again recently on the economy and how we’re recovering. In case you’re interested…

See you in the trenches.
B

This week I'd like to add a comment that is personal to our team. Public Safety has a real human cost, and real people are impacted. This past weekend our own Yao Yaj attended her grandmother's funeral. She was killed in a recent hit-and-run that also injured Yao's grandfather. Thinking of her and others whose lives are changed tragically.
We are working with the Downtown Alliance on a public safety survey to assess perceptions about public safety among employees at member businesses with a St. Paul presence. Watch for more information this fall!

Results of the Met Council’s latest general business survey: webinar on results and summary article – firms are less optimistic as rising prices and continued labor shortages create strains.
How immigration can offset the U.S. labor shortage and rising inflation.

The 2022 Minnesota Border-to-Border Broadband Grant application locations are now available as a layer on Greater MSP’s Federal Funding Hub Minnesota map. Check it out.
U.S. Chamber article: Inflation is creating a ‘perfect storm’ of challenges for small business owners.
Info on The American Rescue Plan Act of 2021: articles here on the Small Business Credit Initiative and here on investments in clean energy.

First and foremost...WELCOME to Amanda Duerr, our new VP of Public Affairs! Amanda is a veteran of the government affairs community. Prior to joining the Chamber, Amanda served as the Director of Government Affairs for Charter Communications, where she was responsible for state-level lobbying and maintaining positive relationships with the local communities served by the company. Learn more about Amanda in our Access newsletter.

Federal

Quiet week, running out the clock on August recess (Senate is back on Sep 6; House back on Sep 13). Stay tuned for the challenge ahead over a must-pass government funding bill, to keep the government open past September.
President Biden’s plan to cancel some federal student loans continues. Is expected to cost about $24B/year based on 75% participation rate. Another article here.

State

Because such a concept is interesting, I’m sharing the Minnesota Reformer’s article on Scott Jensens’s (contender for Governor) proposal to eliminate income tax. The article brings with it strong criticism in terms of its potential impact to equitable outcomes, and a good read. Here is another analysis, economic pros/cons laid out.
Election 2022: Governor Walz and challenger Scott Jensen had their first debate last week in Greater Minnesota; they are diverging on taxes.

Regional

This past Wednesday rent control again was the topic at St. Paul’s City Council: 3 hours of public comment on proposed amendments. Here is coverage. Several comments were made denying any indication of reduced permits for housing; HUD figures don’t align and here is an article on single-family permits down 28% in August – 4th consecutive month of declines.

Election season is ramping up. Be sure to reference our East Metro Voter Guide to learn more about your candidates!

Subscribe to our Chamber Advocacy Update to keep up with advocacy news.

Minnesota State Fair is upon us! Aug 25 – Sep 5, 2022.
Check out your Chamber’s calendar of upcoming events as well, which include:
- First round of this election season’s Politics @ the Pub: Tuesday, August 30: Register here!
- September's Lunch with Leaders: Entrepreneurship Edition: Wednesday, September 14: Register here!
- Our next Equity Leadership Series - Using Data to Meet your Equity Goals: Wednesday, September 21: Register here!
- Workforce Solutions: Utilizing Alternative Ways to Recruit Employees, Roseville Business Council: Wednesday, September 28, Register here!
- 2022 Leaders in Local Government Awards: Thursday, September 29: Register here!

Because I love Brian Lassiter: “Things I forgot from Kindergarten: 61 insights for better leadership, better living.”

Entrepreneur investments: startup competitions lead to growing companies like immigrant-led Silk Road Wellness.
2022 Twin Cities Startup Week (Sep 16-23) looks beyond tech to spotlight other entrepreneurs.

Housing in the East Metro:
- Shoreview’s former Union Gospel Mission site – Tycon Co’s working on up to 179 housing units on 18.4 acre site.
- Fort Snelling’s Upper Post – led by Dominium Partners and several public/private partners, $160M redevelopment into low-cost housing for veterans.
- Lino Lakes project on a greenfield – Integrate Properties planning for up to 700 new homes on a 158-acre farm property.

State Fair, Taxes, and Thanking Public Servants

8/22/2022

Before we get to anything else, let me start with a “Happy State Fair!” Looking forward to the hangover-on-a-stick, and visiting many of you at your booths. So glad you’re back…

Now: on to my thoughts at hand: Mayor Carter’s annual budget address last Wednesday. You can read news articles about it here and here. The proposal reflects a 15.3% increase in the property tax levy. My thoughts? I sent out a snappy tweet last week: “Mayor Carter proposes 7.6% real increase to tax levy. Carter’s proposal outlines real goals – and costs – of growing this capital city. Notable is the irony of rent control cap of 3%; math doesn’t compute.” On a more reflective note, I found Mayor Carter’s plan to be consistent with his stated priorities. The city has to grapple with the $15M budget deficit due to a lawsuit that made it all the way to the Supreme Court. So, though the city lost the lawsuit, street maintenance costs have been transferred to the general fund. Not sure who won that one. That takes care of 7.7% of the proposed increase. The real increase, then, is an additional 7.6% property tax burden for 2023.

My reaction? First of all, I’ve got questions in to the City’s CFO on how this 15.3% translates to some sample commercial properties in St. Paul. Second, I couldn’t get over the cognitive dissonance: Mayor Carter said, “same as every family and resident, the work of the city costs more every single year to do.” I agree. The illogical counterpoint is the property owner or housing developer, with rental control in place, who is legally prevented from similarly adapting to this reality.

I reviewed the budget proposal highlights:

2022’s adopted budget was 15.9% above of 2021 actual. 2023’s proposed budget is 5.5% ahead of 2022.
2023’s proposed property tax levy is 15.3% ahead of 2022 (again, 7.7% of that reflects the transfer of street assessments).
Largest increases by department are:
- Planning and Economic Development (57.3%);
- Public Works (52.7%) – Mayor Carter spoke of plans for additional investments in infrastructure, including $4 million for the City’s first-ever residential mill and overlay program;
- City Attorney’s office (13.4%) – Mayor Carter spoke of additional investments in Office of Financial Empowerment and new staffing around rental control; and
- Department of Safety and Inspections (10.6%) – Mayor Carter spoke of investments to help clear backlogs and ensure timely processing of an array of commercial and building processes.

Read here for budget proposal highlights, including American Rescue Plan Investments.

Finally, an opportunity to thank a public servant:
Do you know a public servant in the East Metro who demonstrates innovation and excellence? Help amplify and celebrate their achievements by completing this brief nomination for the 2022 Leaders in Local Government Awards in September. Nominees from within Ramsey, Dakota, and Washington counties will be selected based on their contributions and innovative initiatives and public policies that advance the public good and demonstrate a commitment to efficient and effective government in various areas of local/county government. If you’ve observed excellence, please take a moment to celebrate it!

See you in the trenches.
B

Governor Walz encounters opportunities and perils in being the incumbent during a crime wave. His declaration: increases in crime in Minnesota “are simply unacceptable.”
State data tells us: violent crime rose again in Minnesota last year, a trend seen nationwide and one coinciding with the economic and social disruptions of the coronavirus pandemic.

The Federal Reserve Bank of Kansas City will host the Jackson Hole Economic Policy Symposium on Thursday through Saturday. Federal Reserve Chair Jerome Powell is scheduled to speak at 10 a.m. on Friday, a speech that will be closely followed for any signals on future rate hikes or quantitative easing and for his outlook on the country's overall economic strength going into the Fed's September meeting. Federal Reserve Bank of St. Louis President James Bullard, a voting member of the Federal Open Market Committee, said he would "lean toward" a 75-basis-point rate hike at the next meeting in September, saying that the idea that inflation may have peaked is "not statistically really in the data at this point." (The Wall Street Journal) Federal Reserve Bank of Kansas City President Esther George, also a voting FOMC member, was more wary, saying the committee has "done a lot, and I think we have to be very mindful that our policy decisions often operate on a lag," adding that the central bank's moves to shrink its balance sheet should also help rein in inflation. (Bloomberg).
Minnesota employers add 19,100 jobs in July; mixed signals abound. Unemployment held at 1.8% during the same period (nation’s unemployment rate is 3.5%). DEED’s Grove reafirms: “employers continue to hire at a fast rate.”
Mortenson report: Construction costs up 11% - but market indicators point to a potential plateau on the horizon.
Meanwhile, home market slows while prices continue to rise. And realtors are saying that July’s year-over-year home sales dropped 25% in St. Paul, but values still ride high.

Federal

Inflation Reduction Act was signed into law. Interested in what it all means? CliftonLarsonAllen has provided a great summary.
Very interesting article by Morning Consult: “America has become less liberal, but not necessarily more conservative.” So many of us find ourselves in the “moderate middle.” This is a very interesting analysis.

Regional

Last week Mayor Carter presented his $782M budget proposal for 2023, including a 15% tax levy increase. Of that, 7.7% reflects the transfer of assessment fees to property taxes; 7.6% represents a real proposed tax increase. My initial observation thus far is the irony of an increase due to rising costs and growth goals while rental cap of 3% doesn’t allow for either for property owners.

Election season is ramping up. Be sure to reference our East Metro Voter Guide to learn more about your candidates!

Subscribe to our Chamber Advocacy Update to keep up with advocacy news.

Minnesota State Fair is upon us! Aug 25 – Sep 5, 2022.
From the St. Paul Downtown Alliance: our #LetsGrowStPL campaign isn’t showing any signs of slowing down. Last month the Alliance produced seven original content and lively event recap videos, making over 600k total impressions across our social channels. Take a look back at July’s highlights as we get ready to keep the fun rolling into September! #LetsGrowStPL www.growstpl.com.
Delta has been named the best U.S. airline by The Points Guy for the 4th year running! Noted are Delta’s excellence in on-time reliability from April 2021 to March 2022, a customer-centered experience, and an extensive global network. Congrats Delta!
Check out your Chamber’s calendar of upcoming events as well, which include:
- Federal Reserve update on economic environment, Roseville Business Council: Wednesday, August 24, 2022. Register here!
- Young Professionals Boat Cruise: Thursday, August 25. Register here!
- First round of this election season’s Politics @ the Pub: Tuesday, August 30: Register here!

The employment participation cycle: The Minneapolis Fed’s research team has published a white paper on strategies to monitor unemployment and labor force participation. “Low unemployment does not equal maximum employment if relatively few people are searching for jobs. So in the course of making monetary policy, the Fed has a keen interest in where unemployment and labor force participation are heading.” The Federal Reserve System working paper “Maximum Employment and the Participation Cycle” by Bart Hobijn and Ayşegül Şahin uncovers reasons why participation rates fall during recessions and how/when they tend to recover.
Having trouble hiring? Here’s how to lure back nontraditional workers – tap into the real desire for flexible and meaningful work.
Here are all the Minnesota companies ranked on the 2022 Inc. 5000 Fastest-Growing Private Companies list. 78 of them are based in Minnesota.

As inflation rises, low-income households grapple with particular challenges. In this white paper, low- and moderate-income individuals in the Fed’s Ninth District share their perspectives on increasing prices.

James A. Stolpestad: Recalling St. Paul’s downtown building boom of 1980 – 2000. The final tally for this remarkable 20-year period was 23 separate buildings and over 5M SF of space, including several residential buildings.
Amazon is starting operations at its new sortation center this week: in Woodbury. The facility will employ around 250 people. Ryan Co. US Inc. developed the 520K SF building in 2021.
Upcoming workshops seeking public input on housing mix for The Heights development at former Hillcrest golf club.

Recognition of Excellence, Service, Partnerships

8/15/2022

MLS All Star Week recap: was a great week! There was the MLS Skills Challenge and the MLS All-Star game, which were both very exciting. Minnesota’s job hosting the MLS All-Star Game draws praise from visiting players, fans. Along with that were community service projects and a Hometown Heroes Showcase, hosted by MLS, Minnesota United, and Black Players for Change.

The Showcase event acknowledged the work of four impactful leaders making positive change in the Minneapolis-Saint Paul communities in four areas: education, mental health, food security, and social justice. Each of the leaders from these organizations will receive a $15,000 grant as well as a suite of promotional assets from MLS to help continue their work and impact in the community. This year’s honorees are Muhammad Abdul-Ahad, Founder & CEO of T.O.U.C.H.; Marisa Miakonda Cummings, President & CEO of Minnesota Indian Women’s Resource Center; Braxton Haulcy, Executive Director of Walker West Music Academy; Ekta Prakash, CEO of CAPI. Tony Sanneh was recognized as an Honorary Hero for his support of the Hometown Hero program and commitment to our community both through soccer and other facets of life. Congratulations to all the honorees! To read more click here.

M Health Fairview Community Health and Wellness Hub had its open house on August 4, introducing the redesigned space to the community. This is a manifestation of community investment and partnership. St. Joseph’s was the first hospital in Minnesota. CEO James Hereford welcomed us with this assurance: “Our Response to community need remains unbroken.” The redesigned space is the beginning of a new concept in responding to health needs, a community resource as well as a health system resource. This amazing investment exemplifies MHealth Fairview’s willingness to be bold in its commitment to the community. United Healthcare also partnered on this project. On behalf of its 20,000 employees, CEO Brett Edelson said: “United healthcare is excited about this concept, Trusted partners in the same place to provide services.”

See you in the trenches.
B

New Woodbury police leaders have local roots: ‘We are in the service industry.’

The Minnesota Chamber’s Center for Economic Research: two reports on Minnesota’s economy. Minnesota: 2030 – what lies beyond the immediate horizon and how can businesses maximize the opportunities to advance and grow the state’s economy?
The Minnesota Chamber Foundation Quarterly Economic Snapshot, Summer 2022. This Snapshot is an overview of key indicators measuring Minnesota’s current economic performance. Mixed signals in the first half; overall performance remains steady.

Federal

The House passed the Inflation Reduction Act on Friday. The massive spending package, which includes around $370 billion for climate and energy programs, now head to President Biden’s desk for approval. 5 changes Minnesotans will likely see from the historic climate bill.
Student loan decision time: It's time to put the pandemic-related student loan moratorium back on your radar ahead of Biden's self-imposed Aug. 31 decision deadline (two weeks from Wednesday). What we're watching: Officials are already expected to continue a payment freeze until after the November elections. The bigger question now is whether Biden will cancel at least some amount of student loan debt in the future. That was at the center of a meeting last week with activists and advocacy groups pushing the Biden administration to cancel large amounts of student debt.

State

With primaries over, Minnesota’s elections take shape.

Regional

St. Paul City Council picks Russel Balenger to fill Ward 1 seat. Balenger will serve the remainder of former CM Thao’s term, through 2023.

Election season is ramping up. Be sure to reference our East Metro Voter Guide to learn more about your candidates!

Subscribe to our Chamber Advocacy Update to keep up with advocacy news.

Ramsey County and the Workforce Innovation Board have been sponsoring a series of e vents offering information and resources to help employers better understand the potential of hiring individual impacted by the criminal justice system. The third event in this series is being held this Thursday, Aug 18, 3:00 – 4:30pm. Join us for a riveting presentation and discussion on supporting fair opportunities from We Are All Criminals.
Minnesota State Fair is upon us! Aug 25 – Sep 5, 2022.
Check out your Chamber’s calendar of upcoming events as well, which include:
- Our next Equity Leadership Series - Building an Inclusive, Effective Workplace: Wednesday, August 17, 7:30 – 9:30am. Register here!

Former President and CEO of the Ford Motor Company: “putting people first means that you ‘love ‘em up.’” That happens by recognizing that everybody is important, that humanity and dignity are important. Listen to this clip on why it’s essential to include all stakeholders in every step of every project.
It's a stressful and scary time to be a hiring manager. Recruiting is as time-consuming as ever, but with added urgency and considerably higher stakes on the cost front. Shifting employee-employer dynamics, coupled with soaring salary offers, have made retention an even greater priority. Here are five sobering stats that should be a wake-up call for employers.
DEED’s Summer of Jobs Summit: a snapshot of collective work and key takeaways to showcase jobs, amplify the source of labor, highlight the innovation and best practices.

The lack of a major overhaul in the United States’ immigration system for roughly thirty years has created an ecosystem where states have attempted to insert their authority over immigration, especially when it comes to enforcement. So, when it comes to certain functions of immigration policy, it is worth asking “Whose role is it anyway?”
MSPBJ celebrates our 2022 Best Places to Work honorees. Learn what makes them tick!
Four Black-owned St. Paul startups to know for Black Business Month. Each was chosen by Lunar Startups, to complete its 6-month training, networking, and mentoring program.

Gener8tor’s gBETA St. Thomas startup accelerator program, based in St. Paul, announces its summer 2022 cohort.
RAISE grants: U.S. Secretary of Transportation Pete Buttigieg announced that the Biden-Harris Administration has awarded more than $2.2 billion from the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) program to help urban and rural communities move forward on projects that modernize roads, bridges, transit, rail, ports, and intermodal transportation and make our transportation systems safer, more accessible, more affordable, and more sustainable. More coverage here. A fact sheet detailing the awards is here. The following awards are in Minnesota:
- Big Wood Transit Facility – Bois Forte Band of Chippewa (p. 69)
- 6th Street Bridge – City of Rochester (p. 70)
- Hwy 197 Safety and Mobility – MnDOT (p. 71)
- Lake Street Improvements for BRT – Hennepin County (p. 72)
- Station 73 Transit – City of Plymouth (p. 73)
- West Superior Street – City of Duluth (p. 74)
- North Dakota/Minnesota Bridge – City of Fargo (p. 116)

Insights from MBCC

8/8/2022

This week I’m delighted to share this platform with Abel Ebane, the 2022 Board Chair for the Minnesota Black Chamber of Commerce. Abel shares his insights on how we can better work together to be ever more impactful to the business community. Thanks Abel! Before I turn the mic over to Abel, I have to send a shout-out for the MLS All-Star Game this week. Check out the All-star week events throughout the Twin Cities.

Entrepreneurs need resources to prosper in any space. Minnesota is no exception. Resources are available and a lot of work is being done by Chambers of commerce, for-profit, non-profit organizations, and other entities trying to influence the business ecosystem. Some are successful and others are duplicating efforts. This lack of a streamlined and synergistic approach to resource mobilization creates a big challenge.

At the Minnesota Black Chamber of Commerce, we are committed to serving Black-owned businesses and their communities through access to education, advocacy, and economic development. Our goal is to maximize the potential of every Black-owned business, large or small, by providing equitable opportunities for growth at every stage.

Our Chamber and the St. Paul Area Chamber are working together to connect businesses to build a more collaborative ecosystem. We believe that when organizations share more about the work they do and their best practices, we can build synergy, mobilize resources for entrepreneurs of color, and create a more vibrant region.

To better help amplify the work being done by entrepreneurs, there needs to be a synergistic approach to the work being done to mobilize resources in Minnesota. Organizations and enterprise leaders need to work hand in hand and leverage the power of numbers to influence outcomes. A simple approach could be to start supporting each other’s efforts, sharing key trainings and best practices, and leveraging each other’s expertise. Let us help in that effort and better connect the great talent in our region!

Abel EBANE
http://linkedin.com/in/abellubbertyn

See you in the trenches.
B

No public safety updates this week!

U.S. Department of Commerce Announces Winners of the $500 Million Good Jobs Challenge to Expand Employment Opportunities (hint: the only application funded in Minnesota was The Ignite Initiative Regional Workforce Training System proposal for ND/MN.
I was fascinated by last week's joust between Team Soft Landing — Federal Reserve Governor Christopher Waller and his Fed research colleague Andrew Figura — and Team Recession, composed of former Treasury Secretary Larry Summers, along with researchers Olivier Blanchard and Alex Domash. On July 29, Team Soft Landing made their mathematical case that the country could escape recession but Team Recession made headlines on Aug. 1, when they called foul on Waller with a counterpoint claiming that the likelihood of a soft landing was "entirely unconvincing" and that policymakers' quest against inflation could only end with higher unemployment. Unfortunately, the sport of economics can be a slow game, and we won't know how the match plays out for several months. Waller and Team Soft Landing are surely right about one thing: These are unprecedented times. On Friday, the Labor Department announced that the country added 528,000 new jobs to company payrolls last month. Labor data from earlier in the week showed that the number of job openings fell in June, though the number of openings still exceeds the number of people looking for work. Meanwhile, layoffs, especially in the tech and retail industries, have been picking up speed.

Federal

President Joe Biden is scheduled to sign the Chips and Science Act into law on Tuesday. What we're watching: Biden's signature will cap a long battle on the Hill to pass legislation that would support the domestic chips industry and make the United States more competitive with China. The Chips and Science Act includes about $52 billion in subsidies for research and U.S. production of chips, as well as an investment tax credit for semiconductor plants estimated to be worth $24 billion.
Senate Democrats were poised to pass their reconciliation bill on Sunday, that includes a 15% minimum corporate tax rate and a 1% excise tax on stock buybacks, the latter of which is expected to raise $73 billion. The bill, which is expected to generate more than $300 billion in deficit reduction, no longer includes a provision that would narrow the carried interest loophole for investment income. The House is set to return from its recess on Friday to take up the bill, which should place it on President Biden's desk for his signature the following week. Here is the U.S. Chamber’s statement on the revised bill: “taxing capital expenditures… is one of the most economically destructive ways you can raise taxes.”
BlackRock Inc. Chairman Lawrence Summers and Chief Executive Larry Fink along with Federal Reserve Bank of Minneapolis President Neel Kashkari will join The Wall Street Journal's Greg Ip at the Aspen Institute on Wednesday to discuss whether or not the American economy is entering a period of "stagflation."

State

Primary week: Minnesota (along with CT, VT, and WI) will hold primary elections on Tuesday, and Minnesota also will hold a special election to fill its open 1st District for the remainder of the year following the death of GOP Rep. Jim Hagedorn in February. Are you voting this week? Here’s what to know.

Regional

St. Paul CM Tolbert proposes new-construction exemption and other amendments for St. Paul rent control. Alarmed by a slowdown in St. Paul housing construction, St. Paul City Council Member Chris Tolbert presented to the council last week a raft of proposed amendments to the city’s new rent control ordinance, including a 20-year exemption for new construction. The amendment states that there have been 200 residential permits from the beginning of the year until April in St. Paul, an 86% decrease compared to the 1,391 permits in the same timeframe last year. Submit written testimony on the amendment package by noon, 8/16 to [email protected], [email protected]. Attend the public hearing on 8/17, 3:30pm in the City Council Chambers.

Election season is ramping up. Be sure to reference our East Metro Voter Guide to learn more about your candidates!

Subscribe to our Chamber Advocacy Update to keep up with advocacy news.

The year’s fairs are upon us!
- Ramsey County – did not hold 2022 County Fair
- Washington County – just wrapped up, Aug 3-7
- Dakota County – Aug 8-14, 2022
- Minnesota State Fair – Aug 25 – Sep 5, 2022
Regional Economic Conditions Webinar: Federal Reserve. Tues, Aug 16, 9:00 – 9:30am. Register here!
Join the Rice and Larpenteur Summer Block Party this Saturday, August 13, 11:00am - 3:00pm. Register here! If you're interested in supporting the Summer Block Party, please consider signing up for a volunteer shift here.
Check out your Chamber’s calendar of upcoming events as well, which include:
- Chamber Connect at the Minnesota Lynx! Friday, Aug 12, 4:00 – 9:00pm. Register here!
- Our next Equity Leadership Series - Building an Inclusive, Effective Workplace: Wednesday, August 17, 7:30 – 9:30am. Register here!

What is the #1 quality necessary in a leader? Simon Sinek answers the question in a recent interview. Watch an excerpt on YouTube: Narratives Can Be Dangerous!

Debunking Major Myths About Immigrants’ Socioeconomic Status in the US. A new book by 2 economic historians shares groundbreaking research on the economic contribution – and assimilation – of immigrants.
St. Joseph’s Hospital reopens as Fairview Community and Wellness Hub, with the goal of being a one-stop shop of food, medical, aging, and other services for people who face economic and demographic barriers to good health.
The Twin Cities Startup Week 2022 schedule is here! Sep 16-23, 2022.

The St. Paul Downtown Alliance offers free leases to fill vacant St. Paul storefronts for up to 10 small businesses looking for free, short-term leases in downtown St. Paul. Their “Let’s Grow” campaign is funded in part by $1 million from the federal American Rescue Plan Act and $1 million in matching funds from the Knight Foundation, as well as contributions from member businesses.
Fertilizer provider expands terminal in St. Paul, creating more jobs. Congratulations to Alter, ADM, and the St. Paul Port Authority for this $25M investment!
A Woodbury development site sells for $8.8M. On the SE quadrant of Hudson Road and Settlers Ridge Parkway, the plan is for a 475K SF food distribution center there.

Shifting Gears

8/1/2022

I just spent a week in Indianapolis, at our Association of Chambers of Commerce Executives (ACCE) annual conference. It was my first conference and I was energized with great work being done in Chambers across the country; and they aren’t always in the largest Chambers. Amazing people, on the ground, serving employers with extraordinary creativity and energy. I spent a lot of time thinking, too, about the season we are in. Today, August 1, is my 5-year anniversary as the President and CEO in service to you at this Chamber. It’s been quite a season together thus far, yes? So much work has been done, building. And ahead I see that we are entering a new season, one of refining. We are shifting gears. And each gear requires different leadership skills.

First and second gears, our building season, have been about restarting, becoming productive and honing our competitive edge on your behalf. We’ve been innovative, we’ve challenged thinking (including our own), and leaned in where needed. As we shift into third gear, our refining season, we are operationalizing the priorities and values we’ve laid out, executing on real work that helps businesses get access – to capital, to opportunity, to new business. And we’re investing in our team, building leaders within who can be increasingly impactful to you and joyfully connected to the work.

We also are responsible for providing a nurturing environment for innovation and invention. And we need partnerships more than ever. Because this is new territory for all of us. Thank you for your ideas, your service, your creativity, your allyship.

Thank you, too, for the privilege of serving you. It continues to be my honor.

See you in the trenches.
B

House passes ‘assault weapons’ ban. The House narrowly approved a bill outlawing the sale of “assault weapons” on Friday, the first time in almost 30 years that lawmakers have passed a measure to reinstate the expired federal ban.
St. Paul Downtown Alliance Speaker Series: Ramsey County Attorney John Choi: public safety trends and the state of the judicial system in Ramsey County. Tuesday, Aug 16, 2-3:30pm. Register here.

This week’s big news - the Governor’s Council on Economic Expansion released a 28-page report titled “Minnesota’s Moment: A Roadmap for Economic Expansion,” offering long-term steps to continue improving Minnesota’s economy. Governor Walz launched the fifteen-member Council of business, labor, and community leaders in September of 2021 to help advise Minnesota on the systemic change needed in the public, private, and nonprofit sectors that will achieve a more equitable, inclusive, sustainable, and resilient Minnesota economy. See the Council’s recommendations here.
From the US Chamber’s Small Business Index, Q2, 2022: Inflation is dominant concern for small businesses across country. Supply chain issues come in second.
On a day when recession is debated across U.S., Minnesota’s economy also sends mixed signals. Minnesota’s second quarter growth won’t be known until September. Business execs and analysts see a state “in a period of flux.”
Fed hikes interest rates by 0.75% for second consecutive time to fight inflation.

Federal

The CHIPS Act: The House has passed bipartisan legislation aimed at supporting domestic manufacturing of semiconductor chips that power the nation's smartphones, cars, computers, medical equipment, and weapons systems. The legislation already passed the Senate earlier this week by a vote of 64-33 and now heads to President Biden to sign into law. The CHIPS Act would provide $54 billion in grants for semiconductor manufacturing and research, tens of billions to support regional technology hubs and a tax credit covering 25% of investments in semiconductor manufacturing through 2026.
Veterans health care: The Senate is set to try again today, Monday, to pass legislation to expand health care coverage for veterans exposed to toxins and burn pits following a Republican filibuster last week.

Regional

St. Paul City Council proposes exempting new construction, affordable units from rent control ordinance. More tenant protections also proposed.
St. Paul campaign for universal preschool abandons push for fall ballot measure. Organizers say they hope to put a more detailed proposal before voters in 2023.

Election season is ramping up. Be sure to reference our East Metro Voter Guide to learn more about your candidates!

Subscribe to our Chamber Advocacy Update to keep up with advocacy news.

Regional Economic Conditions Webinar: Federal Reserve. Tues, Aug 16, 9:00 – 9:30am. Register here!
Check out your Chamber’s calendar of upcoming events as well, which include:
- 2022 VIP Vikings Training Camp Experience: August 3, noon – 5:30pm, at MN Vikings TCO Performance Center!
- Chamber Connect at the Minnesota Lynx! Friday, Aug 12, 4:00 – 9:00pm. Register here!
- Our next Equity Leadership Series - Building an Inclusive, Effective Workplace: Wednesday, August 17, 7:30 – 9:30am. Register here!

Majority of US workers changing jobs are seeing real wage gains. Roughly 1 in 5 workers say they are very or somewhat likely to look for a new job in the next 6 months, but only about 1/3 of these workers think it would be easy to find one.

Goff Public, in its ongoing effort to support organizations working to achieve racial equity within our community, is seeking Minnesota-based nonprofits and advocacy organizations who could use their help amplifying and supporting their efforts. More information can be found on their website. Organizations can fill out a brief online form by August 31 to let them know what kind of help they need.
Looking for an update on the GroundBreak Coalition? Here is link to July 19th community briefing.
3M, Target, UnitedHealth among top employers on disability-equality scorecard. These and others which scored 100% on the index are: Best Buy, Cargill, Deluxe Corp, Ecolab, Mayo Clinic, Medronic, and U.S. Bancorp. Click here to see the full index.

Washington County: The Washington County Board approved $1.65 million to build a new boat ramp at St. Croix Bluffs Regional Park. The project will be paid in part with American Rescue Plan Act funds,
Infrastructure Law Rollout: Mitch Landrieu, President Biden’s point person overseeing the rollout of the new federal infrastructure bill, told Route Fifty that there would be robust support for state and local officials trying to use some of the $1.2 trillion for public works. 5,000 projects across the country are underway, and the White House is meeting regularly with state infrastructure coordinators.
Permits: multifamily up, single-family permits down in July. Apartment construction stayed hot in July, but single-family homebuilding cooled significantly as metro area cities permitted fewer than 400 such units during the month — the slowest July for that product type in more than a decade.

Career Connect Day – Tomorrow’s Leaders

State Fair, Taxes, and Thanking Public Servants

Recognition of Excellence, Service, Partnerships

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Shifting Gears

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