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@mnperspectives
United Airlines Adds Fifth Daily Flight Between Duluth and Chicago O’Hare
United Airlines will add a fifth daily flight between Duluth International Airport and Chicago O’Hare, expanding travel options for northern Minnesota passengers. The Duluth Airport Authority says the additional frequency will improve flexibility for travelers and strengthen access to United’s global network. Airport Executive Director Tom Werner called the move a strong vote of confidence in…
What's at Stake with U.S.-Mexico-Canada Talks Underway This Week
The United States and Mexico opened negotiations this week on the future of the U.S.–Mexico–Canada Agreement (USMCA), launching what could become a contentious process to renew the trade pact that underpins $1.6 trillion in annual North American commerce. The talks come amid signals from President Donald Trump that the United States may seek major changes — or even withdraw — if a new deal cannot…
Apple Orchard for Sale
After running Sekapp Orchard for 50 years, the Kappauf family has decided it’s time to sell the business. Located just outside of Rochester, Minn., the 148-acre orchard is home to 8,000 apple trees of more than 25 varieties. It is a favorite destination for thousands of people during autumn months who enjoy its apples, produce, honey, pumpkins, corn maze and other attractions. With pockets of…
Ten Minnesota Cities Rank Best to Live
Ten Minnesota cities made this year’s U.S. News & World Report list of the 250 best places to live in the U.S. The highest-ranking city in Minnesota is Plymouth, which ranks 17th in the overall list, and tenth in the Best Small Cities to Live list. The other nine cities within the top 250 overall list are, in this order, Maple Grove, Eden Prairie, Woodbury, Rochester, Eagan, Mankato, Blaine,…
Many to Leave Social Security Offices in Alexandria, Rochester
About 50 percent of workers at the U.S. Social Security Administration office in Alexandria and 40 percent of those working at the Social Security office in Rochester have accepted the federal buyout from the Trump Administration, reports KIMT3 News. These are amongst the highest levels of employee reduction at Social Security offices nationwide. More here.
Coborn's to Acquire Two South Dakota Grocery Stores
St. Cloud-based Coborn’s Inc. has agreed to purchase two grocery stores in northeastern South Dakota: Kessler’s Food and Grocery in Aberdeen, and Kessler’s Food and Fuel in Miller. The sale is expected to close later this month, adding about 250 employees to Coborn’s workforce of more than 10,000. Coborn’s began as a one-room produce store in Sauk Rapids, Minn., in 1921. Today it is a…
Tough Layoffs for Northern Minnesota
While Thief River Falls new it was coming, it was still tough to see the official state notification today that Textron/Artic Cat will permanently lay off approximately 385 employees there between May 8 and May 22, 2025. The company announced last December that it would suspend indefinitely its manufacturing operations in Thief River Falls in the first half of 2025, citing as the cause weak…
Minnesota AG’s Office sues Deere & Co. Alleging Unfair Practices
Minnesota Attorney General Keith Ellison, alongside Illinois Attorney General Kwame Raoul and the Federal Trade Commission, have sued agricultural equipment manufacturer Deere & Company (Deere), also known as John Deere, over its use of unfair practices that have driven up equipment repair costs for farmers while also depriving farmers of the ability to make timely repairs on critical farming…
Senators Klobuchar, Smith Secure Funding for Minnesota Farmers, Rochester Roads
U.S. Senators Amy Klobuchar and Tina Smith (both D-MN), ranking member and member of the Senate Agriculture Committee, announced that an expected $2 billion in agriculture disaster relief and farmer aid will soon be made available for Minnesota producers, small businesses, and families impacted by extreme storms and flooding last year. The funding also will help cover an estimated $28 million for…
Fargo Increases City Sales, Use and Gross Tax Rate
Fargo recently adopted an ordinance to raise its city sales, use, and gross receipts tax rate from 2 percent to 2.25 percent, effective April 1. The new combined state and city tax rates within the Fargo city limits will range from 5.75 percent for certain items like farm machinery to 9.75 percent for alcoholic beverages, with the general rate being 7.75 percent. (More on this here.)
Winona Approves Rezoning Request for $30 Million Mixed Use Development
A project team including Schwab Construction Services of Winona and Main Square Development LLC, wants to bring 121 market-rate apartments and up to 30,000 square feet of commercial space, including a restaurant, to a 1.6-acre site at the southeast corner of Washington Street and West Fourth Street. The project site overlooks the future Minnesota Masterpiece Hall, a $60 million concert venue that…
Grand Forks Lands $500 Million Potato Processing Plant
A new $500 million potato processing plant is set to come to Grand Forks. The plan is for the Agristo facility to be constructed on a site spanning nearly 350 acres, which would support 250 employees and provide a local market for up to 15,000 acres of planted potatoes. (More on this here.)
Fastenal Profit Comes in Below Analyst Expectations, Declares Cash Dividend
Winona-based Fastenal posted fourth-quarter profit below analysts’ estimates on Friday, as a sustained slowdown in construction sector dented demand for its fasteners and other safety products. Its stock price dropped 5.7 percent afterward. The company says U.S. construction activity has slowed due to increased financing costs for big projects amid higher interest rates, hurting demand for…
Xcel Energy's Ben Fowke on Leading Through Covid-19, Racial Unrest & Other Challenges in 2020
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Minnesota Business News, August 2022
Minnesota Business News, August 2022
The following is a roundup of business and economic news from around Minnesota usually not found in Twin Cities media. It was first distributed to the clients and associates of Platinum Group, Minnesota’s most experienced firm helping business owners grow, refinance, restructure, transition or sell their businesses. ‘Branchless Bank’ from Canada Buys Tiny-Town Bank to Enter, Then Expand in…
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Tiger Oak Media Sold
Tiger Oak Media Sold
Platinum Group, a business advisory firm based in Minnetonka, Minn., earlier this week announced it completed leading the sale of the assets of Tiger Oak Media Inc., a Minneapolis-based publisher of print magazines, on behalf of the U.S. Bankruptcy Court for the District of Minnesota. Tiger Oak filed for protection from creditors under Chapter 11 in October 2019. The Chapter 11 trustee appointed…
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Minnesota Business News Roundup for June 2022
Minnesota Business News Roundup for June 2022
JUNE The following is a roundup of business and economic news from around Minnesota usually not found in Twin Cities media. It was first distributed to the clients and associates of Platinum Group. Three Minnesota Businesses to Receive $2.1 Million from the State Through its Minnesota Investment Fund and Job Creation Fund, Minnesota’s Department of Employment and Economic Development plans to…
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