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UPPER MIDWEST REGIONAL REVIEW
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Agriculture and
Automotives Keep
Upper Midwest Fueled
Automotives Keep
Upper Midwest Fueled
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f accolades translated into jobs, Minnesota would have it made. The state has won the "Most Livable State" tag from Morgan Quitno Press, a Lawrence, Kan., research firm that compares states in more than 550 categories, for seven consecutive years.
"Minnesota is a perennial winner because it scores very well across the board," says Scott Morgan, president of Morgan Quitno Press. "The state has very low infant mortality and teen birth rates, a high home ownership rate, a very good high school graduation rate and high spending for the arts. It's hard to compete against a record like that."
Another bit of good news is that the state's manufactured exports rebounded during the first three months of the year, rising 5.9 percent to US$2.5 billion. It was the first growth in the state's manufactured exports since the third quarter of 2001. Canada remains the state's largest market with first quarter sales of $637 million.
But, like many states, Minnesota continues to lose manufacturing jobs – 37,000 over the last three years – leading to decreased demand for industrial space. Minnesota's unemployment rate – 4.7 percent in June – remains far below the national average, but the state has lost manufacturing jobs in seven of the last nine months.
"This is clearly the most favorable industrial tenant market we've seen in more than a decade, with quality industrial space available for lease across the market at considerably reduced rates," said Todd Hanson, vice president-Industrial for United Properties, in the company's mid-year outlook.
One of the largest recent deliveries of jobs to the state comes in Jackson, a town of 3,500 people near the Iowa border, and builds on the state's rich agricultural history. ACGO moved assembly operations of its MT 700 and 800 Challenger track tractor series from its DeKalb, Ill., plant. The move creates 100 jobs, and 40 will relocate from DeKalb. AGCO chose Jackson for the consolidation over its other manufacturing facility in Heston, Kan. AGCO, headquartered in Duluth, Ga., is a global designer, manufacturer and distributor of agricultural equipment and related replacement parts.
McNeilus Companies, a subsidiary of Oshkosh Truck Corp., recently opened a new facility in Dexter to manufacture drums for its concrete mixers. The company is employing a new process using carbon fiber technology to produce molded tanks that are lighter and easier to manufacture and clean. The new facility employs 50.
"Minnesota is a perennial winner because it scores very well across the board," says Scott Morgan, president of Morgan Quitno Press. "The state has very low infant mortality and teen birth rates, a high home ownership rate, a very good high school graduation rate and high spending for the arts. It's hard to compete against a record like that."
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Another bit of good news is that the state's manufactured exports rebounded during the first three months of the year, rising 5.9 percent to US$2.5 billion. It was the first growth in the state's manufactured exports since the third quarter of 2001. Canada remains the state's largest market with first quarter sales of $637 million.
But, like many states, Minnesota continues to lose manufacturing jobs – 37,000 over the last three years – leading to decreased demand for industrial space. Minnesota's unemployment rate – 4.7 percent in June – remains far below the national average, but the state has lost manufacturing jobs in seven of the last nine months.
"This is clearly the most favorable industrial tenant market we've seen in more than a decade, with quality industrial space available for lease across the market at considerably reduced rates," said Todd Hanson, vice president-Industrial for United Properties, in the company's mid-year outlook.
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One of the largest recent deliveries of jobs to the state comes in Jackson, a town of 3,500 people near the Iowa border, and builds on the state's rich agricultural history. ACGO moved assembly operations of its MT 700 and 800 Challenger track tractor series from its DeKalb, Ill., plant. The move creates 100 jobs, and 40 will relocate from DeKalb. AGCO chose Jackson for the consolidation over its other manufacturing facility in Heston, Kan. AGCO, headquartered in Duluth, Ga., is a global designer, manufacturer and distributor of agricultural equipment and related replacement parts.
McNeilus Companies, a subsidiary of Oshkosh Truck Corp., recently opened a new facility in Dexter to manufacture drums for its concrete mixers. The company is employing a new process using carbon fiber technology to produce molded tanks that are lighter and easier to manufacture and clean. The new facility employs 50.