October is Manufacturing Month, which kicked off on Friday, recognizing the critical importance of manufacturing to Minnesota’s economy and highlighting the many career opportunities in this vital industry. It’s impossible to overstate its importance to Minnesota’s economic well-being. The pocketbook impact on households statewide is tremendous, considering that manufacturing's direct and indirect employment accounts for 40% of all jobs statewide. And manufacturing jobs tend to pay substantially higher on average.
And as a leading indicator of economic trends, manufacturing continues to exceed expectations – even their own. A good friend of mine leads a tier 2 manufacturer servicing, among other clients, the aerospace industry. We had lunch together in September and he tells me they are 20% ahead of 2020 budget projections already, and orders continue to grow. The Purchasing Managers Index (PMI) remains above 60 which, as I’ve indicated in previous blogs, is a strong indicator of economic expansion.
The Minnesota Chamber’s annual Manufacturer’s Summit is this Wednesday, October 5, at the DoubleTree by Hilton – Park Place, in Minneapolis.
And remember: manufacturing includes the many food manufacturers here. So when you next buy that Pearson’s candy bar, or Podium Wear’s athletic gear, know you are supporting enterprises here in the state. Shop away!
On a fun note:
Twin Cities Marathon – “the most beautiful urban marathon in America” - ran yesterday, from downtown Minneapolis to the State Capitol grounds. Approximately 4500 runners! Men’s champion: Mohamed Hrezi, of Philadelphia, PA (average 5:10 pace); women’s winner: Naomi Fulton, of Hartland, WI (average 6:20 pace). Two Gopher alums rounded out the women’s podium: Molly Eastman and Baily Ness.
See you in the trenches.
Record number of COVID-19 cases are being reported in Minnesota’s pre-K12 schools.
Vaccine mandates in the workplace:
The Comcast RISE Investment Fund in now open October 1-14 for businesses in the following Minneapolis-St. Paul counties: Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington Counties. Grants will be announced at the end of November 2021 and awarded in December 2021.Here is a YouTube link: https://www.youtube.com/watch?v=QXVAf3-Mxys&t=27s
Shock to none: supply chain disruptions limit consumer spending. What products are we having the most difficulty procuring? Download Morning Consult’s report to see their findings. Supply Chain Disruptions Limit Consumer Spending.
Regional: Ramsey County traffic stops: here’s the new policy – and its potential impact.
Read more updates in our weekly Chamber Advocacy Update.
Twin Cities Business has named Tawanna Black, founder and CEO of the St. Paul-based Center for Economic Inclusion, as its Person of the Year for 2021. Black founded the center in 2017 for “creating inclusive regional economies by equipping public and private sector employers to dismantle institutional racism and build shared accountability for inclusive economic growth.”
To keep in touch with what is happening in downtown St. Paul this Fall, click here.
And at your Chamber?
Find these and more on our Events Calendar!
The 5 benefits of joining a leadership development organization can help you make an informed decision. It also can help you think about your goals for leadership development and find an organization that can support them. You’ve invested so much in your business… consider investing in yourself.
The U.S. Department of Commerce is seeking applicants for the National Advisory Council on Innovation and Entrepreneurship (NACIE), which advises the U.S. Secretary of Commerce on growing equitable economic prosperity by accelerating innovation and catalyzing technology entrepreneurship. Application deadline is 5 p.m. EDT on October 25, 2021. For more information, visit: https://www.eda.gov/oie/nacie.
Housing and Unemployment: Hardest-hit Neighborhoods One Year into the Pandemic. Family Housing Fund partnered with Wilder Research to identify the zip codes most impacted by housing cost burden and continued unemployment claims during the COVID-19 pandemic. Read the report and explore the new data tools.
Boldt buys 6+ acres from Bethel University for a senior project.
MNDOT has submitted a preliminary request for $800 million in trunk highway bonds to fund improvements to “high priority bridge projects,” plus an additional $200 million in general obligation bonds to pay for repairing or replacing deficient bridges owned by cities, counties and townships throughout the state.
A medical building will be part of the Highland Bridge development. Ryan will break ground in December on the 2-story, 60K SF facility on the corner of Ford Parkway and Mount Curve Boulevard. Read M Health’s press release here.