Welcome to Business in the News (BITN), a monthly compilation of business stories from around the state usually not reported on by Twin Cities media. These stories provide business leads, trends and insights we hope you will find useful.
Downtown Duluth is Hot: Building Boom Continues
The City of Duluth issued permits for construction projects valued at a record-high $399 million in 2020, breaking the old record of $277.5 million in 2010. Here’s more on this story, including a mention that new commercial construction scheduled for projects in the Twin Cities may be down by 30 percent.
Canomiks Becomes First Minnesota Company Accepted into PepsiCo’s Business Accelerator
Rochester-based Canomiks is one of ten companies accepted into PepsiCo’s annual Greenhouse Accelerator program. Each business receives $20,000 in grant funding and advice from PepsiCo experts regarding R&D, supply chain management and design. One will be selected in June to receive an additional $100,000. Canomiks uses genomics and AI to test ingredients for use in healthy foods and skincare products. It has only been Minnesota-based for about six months, moving from Cambridge, Mass., to the Mayo Clinic Business Accelerator in the Minnesota Biobusiness Center in Rochester last July. Here’s more about Canomiks.
Duluth Paper Mill to Remain Closed, Looking for Buyer
Miamisburg, Ohio-based Verso Corp. said this week it will not reopen its $75 million paper plant in Duluth, according to the Duluth News Tribune. Efforts to sell the mill continue with a small group of employees remaining there to maintain critical systems. Verso is a $2.4 billion publicly traded company and a leading North American producer of coated papers used primarily for magazines, catalogs and high-end advertising brochures. It also produces other paper products. Last year it sold two of its mills, one in Maine and one in Stevens Point, Wis., for $400 million.
Livestock and Poultry Production Costs to Rise
Prices for corn, soybeans and wheat have soared to their highest levels in more than six years—and could shoot up even more with any significant weather events this season. While good news for crop farmers, this could lead to a 27 percent jump in prices for feed grains used to raise livestock and poultry. In turn, consumers will likely see an increase in food prices later this year according to this story.
Bemidji Steel Plans a $3.2 Million Expansion
Bemidji Steel Co., which is starting its 38th year in operation, is looking to build a $3.2 million facility south of Bemidji and move its corporate address, commercial sales and other services there. It would also move 14 jobs from its Bemidji, location, which would still handle its public retail sales and finishing services. The development is pending approval from local governments. More here.
Meatpacking and Food Processing Workers May Gain Additional Rights
Minnesota House Democrats teamed up with meatpacking workers recently to announce legislation that would protect individuals who work at statewide meatpacking and food processing plants amid the coronavirus pandemic, according to the Associated Press. Authored by Rep. Dan Wolgamott, of St. Cloud, the bill would provide paid leave to meat and poultry processing plant workers so they could recover from an injury, an illness or care for a sick family member. It also would create a position within the state labor and industry department to enforce compliance and prosecute employers who violate the rules. More on this story here.
Heroes Rise Coffee Expands
Bemidji, MN-based Heroes Rise Coffee Company recently opened a second location in Crookston, MN, and may at some point look to franchise. Its purpose is “getting a great cup of coffee to everyday heroes” including police, firefighters, EMS, teachers, social workers, doctors, nurses and others “just trying to survive.” A cup of coffee costs $5, and people buy it because it’s good quality and in doing so, they pay it forward helping the business provide coffee for free to everyday heroes, especially first-line responders. Here’s a Q&A with its founder, retired police chief Jeff VanGrinsven.
By Dale Kurschner, Executive Consultant
Welcome to Business in the News (BITN), a monthly compilation of business stories from around the state usually not reported on by Twin Cities media. These stories provide business leads, trends and insights we hope you will find useful.
By Dale Kurschner, Executive Consultant
Welcome to Business in the News (BITN), a monthly compilation of business stories from around the state usually not reported on by Twin Cities media. These stories provide business leads, trends and insights we hope you will find useful.
Downtown Duluth is Hot: Building Boom Continues
The City of Duluth issued permits for construction projects valued at a record-high $399 million in 2020, breaking the old record of $277.5 million in 2010. Here’s more on this story, including a mention that new commercial construction scheduled for projects in the Twin Cities may be down by 30 percent.
Canomiks Becomes First Minnesota Company Accepted into PepsiCo’s Business Accelerator
Rochester-based Canomiks is one of ten companies accepted into PepsiCo’s annual Greenhouse Accelerator program. Each business receives $20,000 in grant funding and advice from PepsiCo experts regarding R&D, supply chain management and design. One will be selected in June to receive an additional $100,000. Canomiks uses genomics and AI to test ingredients for use in healthy foods and skincare products. It has only been Minnesota-based for about six months, moving from Cambridge, Mass., to the Mayo Clinic Business Accelerator in the Minnesota Biobusiness Center in Rochester last July. Here’s more about Canomiks.
Duluth Paper Mill to Remain Closed, Looking for Buyer
Miamisburg, Ohio-based Verso Corp. said this week it will not reopen its $75 million paper plant in Duluth, according to the Duluth News Tribune. Efforts to sell the mill continue with a small group of employees remaining there to maintain critical systems. Verso is a $2.4 billion publicly traded company and a leading North American producer of coated papers used primarily for magazines, catalogs and high-end advertising brochures. It also produces other paper products. Last year it sold two of its mills, one in Maine and one in Stevens Point, Wis., for $400 million.
Livestock and Poultry Production Costs to Rise
Prices for corn, soybeans and wheat have soared to their highest levels in more than six years—and could shoot up even more with any significant weather events this season. While good news for crop farmers, this could lead to a 27 percent jump in prices for feed grains used to raise livestock and poultry. In turn, consumers will likely see an increase in food prices later this year according to this story.
Bemidji Steel Plans a $3.2 Million Expansion
Bemidji Steel Co., which is starting its 38th year in operation, is looking to build a $3.2 million facility south of Bemidji and move its corporate address, commercial sales and other services there. It would also move 14 jobs from its Bemidji, location, which would still handle its public retail sales and finishing services. The development is pending approval from local governments. More here.
Meatpacking and Food Processing Workers May Gain Additional Rights
Minnesota House Democrats teamed up with meatpacking workers recently to announce legislation that would protect individuals who work at statewide meatpacking and food processing plants amid the coronavirus pandemic, according to the Associated Press. Authored by Rep. Dan Wolgamott, of St. Cloud, the bill would provide paid leave to meat and poultry processing plant workers so they could recover from an injury, an illness or care for a sick family member. It also would create a position within the state labor and industry department to enforce compliance and prosecute employers who violate the rules. More on this story here.
Heroes Rise Coffee Expands
Bemidji, MN-based Heroes Rise Coffee Company recently opened a second location in Crookston, MN, and may at some point look to franchise. Its purpose is “getting a great cup of coffee to everyday heroes” including police, firefighters, EMS, teachers, social workers, doctors, nurses and others “just trying to survive.” A cup of coffee costs $5, and people buy it because it’s good quality and in doing so, they pay it forward helping the business provide coffee for free to everyday heroes, especially first-line responders. Here’s a Q&A with its founder, retired police chief Jeff VanGrinsven.
