What will change in the wake of the COVID-19 pandemic? We’ve started coming back together; and when we do, we’ve all been talking about the “lost year,” what’s changed, what hasn’t. I’ve heard and read some things that surprised me, and thought I’d share them with you. I also had some fun researching this question. One writer described the pandemic as “an accelerant and a polarizer.” I thought that was uniquely apt. The Washington Post wrote a great article about this, reflecting on the similarly impactful influenza epidemic of 1918. Gains for some this past year and moving forward often are losses for others. Changes in how we travel, for example, also impact airlines, tourism, hospitality industry. More remote work means less revenue in our downtowns. It’s such a mixed bag. We are inextricably intertwined, aren’t we?
Not sure yet
One more thing: the Fed continues to track economic recovery. Its latest 5-minute survey is still open; your input matters!
See you in the trenches.
Rising virus cases in Minnesota fuel an uptick in hospitalizations. # of patients in the state has topped 100 for 5 of the last 6 days. Meanwhile, we are seeing increasing pressure worldwide for vaccinations. CDC says the U.S. is ‘not out of the woods’ due to the highly infectious Delta variant.
Are you considering mandating the vaccine for employees? Here are 5 best practices to follow.
The Federal Reserve Bank of Minneapolis is monitoring economic conditions in the region: COVID-19 and the Ninth District economy: A dashboard.
Also, join Ron Wirth to hear an update from the Federal Reserve on Regional Economic Conditions: Register here for a virtual event on August 24.
The future of the labor market: read about unemployment insurance and how the expiration of benefits will impact labor force participation. Morning Consult anticipates that wage pressures are likely to retreat as the labor market normalizes, while Emsi Burning Glass anticipates a long-term shortage of workers and continued higher wages/bonuses as an incentive to hold onto workers in a brutally competitive market ahead.
Delta and Air Canada resuming nonstop routes to cities in Canada.
Frontier adding nonstop route between MSP and Las Vegas.
Updates on transit: $4M federal grant to Metro Transit will deploy more electric buses in the metro area. And re LRT: Riverview’s June 23 virtual open house can be watched here, and will help shape the final document before it is presented to the Policy Advisory Committee yet this month; Southwest LRT’s rocky mess due to project delays and cost overruns.
Read more updates in our weekly Chamber Advocacy Update
Former Ecolab CEO, Doug Baker, joins energy-services firm JIT Services as owner.
What’s going on with your Chamber?
We have a few tickets left for our VIP Vikings Training Camp Experience, Return to the #BoldNorth, on August 4. Consider joining us! Our next session in this year’s Equity Leadership Series. Together we are improving workplace culture. Being Ready for Today’s Employees: Creating a Sense of Belonging. Join our virtual event on August 18!
These disconnects fueling turnover in the COVID-19 era. Three chasms: debate over flexibility; the status of vaccinations; employees feeling disconnected from their companies/missions.
Why do CEOs get fired? Change efforts will likely fail without enough buy-in from employees.
Young Professionals: the time is right to get together. Our annual Boat Cruise is back on for August 18. Enjoy an evening on the water and connect with other Twin Cities young professionals. I’ll be there too!
Goff Public offers pro bono services to organizations working to achieve racial equity. They’ve done it before, and they want to do it again! Take the opportunity – this is a really strong organization. Fill out this form on their website by August 31.
Check out the new Full Stack Saint Paul website! Take a look and learn more about its history, Steering Committee, and strategies to amplify tech and innovation.
Minnesota ranks #3 nationwide in U.S. prosperity study, the highest ranking among all Midwest states.
Ramsey County’s new Inclusive Workplaces Cohort is now accepting applications. Deadline to apply is August 9.
Capstone Quadrangle plans 232K SF spec industrial project in Burnsville.
The next evolution of Dixie’s on Grand took a leap forward on Friday. Five-story replacement for Dixie’s on Grand wins Planning Commission support. Restaurateur Peter Kenefick and developer Reuter Walton plan an 80-unit, market-rate apartment building in place of the currently 1-story structure. The plan incorporates Saji Ya and Emmett’s Public House at ground level, with room for a 3rd and maybe a 4th retail space.
Gaining a foothold: read about Johnny Opara, a Twin Cities-based developer of color. He estimates that less than 1% of all developers in the metro are Black. And read about LISC Twin Cities report conducted by Minnesota-based JOG Associates, which details the challenges faced by developers of color. Worth taking the time to study.
Mystery project in Cottage Grove may hire 1,300 workers, according to developer. NorthPoint Development is leading a 2.4M SF, $212M project that could break ground this fall, one of the largest industrial projects in the Cities. But who is the anchor tenant – and client?
Demand for industrial space never higher in the Twin Cities. Industrial real estate is experiencing “unprecedented demand.