Swift County RDA News

Support Swift County Businesses on Small Business Saturday

Tuesday, November 23, 2021

Small Business Saturday is a day dedicated to celebrating small businesses and encouraging consumers to shop at local establishments. Sandwiched between the frenzy of Black Friday and Cyber Monday, Small Business Saturday is an opportunity for Swift County shoppers to support our local businesses, and in turn, boost our local economy. Now in its 12th year, Small Business Saturday falls on November 27. American Express started Small Business Saturday in 2010 in the midst of the recession to give small businesses a boost. The movement gained significant traction in 2011, when the Senate unanimously passed a resolution supporting the day. Sinc...

Celebrating Manufacturing Month in Swift County, MN

Monday, October 11, 2021

Swift County, Minnesota, is home to global manufacturing companies producing goods and machines for agriculture and beyond using the latest technologies. October is Manufacturing Month and we at Swift County Rural Development Finance Authority (RDA) are celebrating these companies for their employment opportunities and innovations that grow our economy. Manufacturing in Swift County Swift County RDA is using this opportunity to call attention to our manufacturing companies in the community. These manufacturers are leaders in technology and good workplace practices, produce high quality products, and consistently innovate to keep in step with and progress their industries. We are proud that these companie...

Minn. farmers: Cashing in on the carbon bank, fighting climate change?

Wednesday, August 04, 2021

The United States is making a big bet on the role that farmers can play in mitigating climate change. President Joe Biden said he wants American farmers to be the first in the world with net-zero greenhouse gas emissions. How they might achieve that goal is still unclear — but one idea getting a lot of attention involves paying farmers to store carbon in the soil. It’s called carbon banking, and some see it as one way to reduce the level of carbon dioxide in the atmosphere. While the concept has been around for decades, it’s still finding a foothold in ag-heav...

‘Revenge Tourism’ Is Breaking Booking Records At Some Minnesota Resorts And Hotels As Pandemic Wanes

Tuesday, August 03, 2021

MINNEAPOLIS (WCCO) — If you’re hoping to book a last-minute trip out of town in Minnesota, you have some competition. Vacation spots across Minnesota tell WCCO they’re in for a busy summer season – with some breaking booking records. The Hewing Hotel in Minneapolis’s North Loop neighborhood is leaning in to the luxury staycation game. Adam Rucinski, director of revenue management for the hotel, says guests are eating it up. “Weekends we’re sold out,” Rucinski said. “We have a rooftop bar that has an indoor and outdoor space. We have the spa pool that is the only outdoor spa pool available in Minneapolis righ...

Minnesota Continues Job Growth Trend

Monday, August 02, 2021

Minnesota added 12,300 jobs for May, the fifth straight month that the state has posted job gains. That’s according to the latest statistics from the Minnesota Department of Economic Development and Employment (DEED). The private sector added 14,800 jobs. But those gains were offset by a loss of 2,500 government jobs for the month. DEED Commissioner Steve Grove was upbeat in a virtual press conference to discuss the latest numbers. “Minnesotans are getting back to work,” he said. “Our unemployment rate is dropping for the right reasons and there’s a lot of opportunity in the Minnesota economy as we come out of this pandemic an...

The mysterious lost workers: What’s driving the shortage?

Friday, July 30, 2021

A drive on just about any Minnesota highway reveals dozens of “Now hiring” signs from desperate employers, some offering hundreds of dollars in signing bonuses. Manufacturers, restaurant chains, agribusinesses, and health care organizations are among the many companies that say they’re in dire need of workers. In the Twin Cities, “Help Wanted” signs hang from windows of independent restaurants, cafés, auto repair shops, and countless other businesses. It’s a remarkable about-face from a year ago, when government-mandated shutdowns and a temporarily contracted economy forced many Minnesotans out of work. It’s also a phenomenon that has produced headline after headline about th...

The Critical Role Of Business Retention In Growing The State's Economy

Thursday, July 29, 2021

Economic strategy starts with building on core strengths and driving resources toward efforts that help existing businesses change and grow. This has been Grow Minnesota!’s model for over 18 years, and it will continue to be critical as Minnesota seeks to recover and advance its economy this decade. As the Minnesota Chamber Foundation shows in its recently released Minnesota: 2030 report, the state’s economy is poised to face an array of changes over the next decade, bringing both challenges and opportunities. Here are some findings from the Minnesota: 2030 outlook, and ideas for how business retention strategies can play a role in helping the state’...

How Close Is Minnesota’s Economy To Full Recovery?

Wednesday, July 28, 2021

April 2021 marked the one-year point from the largest economic downturn in Minnesota’s modern history. The shock to the economy last spring was staggering: Minnesota shed more than 400,000 jobs and lost over $36 billion dollars in GDP output, as in-person activities ground to a halt to slow the spread of COVID-19. To put this in perspective, Minnesota’s 2020 job losses exceeded the size of North Dakota’s entire workforce. Yet the unique circumstances surrounding this downturn – both the public health crisis that caused the downturn and the massive federal response to keep families and businesses afloat – meant that the pat...

How much could US states gain by closing racial and gender gaps in the labor market?

Tuesday, July 27, 2021

Imagine a future where racial and gender labor market disparities don’t exist. How much would each state economy stand to gain? That’s the question behind this simulation. While we can’t predict the future, we can look to the past for clues. For this thought experiment, we crunched the numbers for 15 years of data spanning 2005-2019. For every US state and Washington DC, we modeled how much gross domestic product (GDP) would have increased each year by eliminating racial and gender gaps in earnings, hours worked, educational attainment, and employment. This simulation adapts methodology from a recent Federal Reserve working paper, which estimates that thes...

Innovative education partnerships in agriculture and natural resources build workforce pipelines and economic ecosystems across Minnesota

Monday, July 26, 2021

Agriculture and Natural Resources are the foundation for much of Minnesota’s economy, and businesses are doing more with raw material than ever before. That also means that the workforce in agriculture and natural resources are becoming more skilled, and in a variety of ways. In turn, education programs across the state are responding to these changes and sometimes driving change themselves. For Agriculture and Natural Resources Month in June 2021, DEED’s workforce strategy consultants are highlighting some of the unique programming and partnerships that train the ever-evolving Agriculture and Natural Resources workforce. One of our primary roles is to coordinat...

Economic Opportunities for Immigrants and Refugees Interested in Agriculture and Food Business?Was Focus of June’s Immigrant and Refugee Affairs Forum

Friday, July 23, 2021

At June’s Immigrant and Refugee Affairs Forum, community leaders, state agencies, and nonprofit organizations came together to talk about the economic opportunities and challenges in the agriculture industry for Minnesota’s Black, Indigenous and people of color (BIPOC) farmers. The forum also shared a range of resources from the Minnesota Department of Employment and Economic Development (DEED), the Minnesota Department of Agriculture (MDA) and community-based organizations for BIPOC Minnesota farmers. Emerging Farmers Working Group To kick off the discussion, MDA Assistant Commissioner Patrice Bailey shared information on the Emerging Farmers Working Group in Minnesota. This group is the first of its kind in the country...

June Edition of Minnesota Economic Trends

Thursday, July 22, 2021

Every quarter, the Labor Market Information (LMI) Office of the Minnesota Department of Employment and Economic Development (DEED) publishes a slate of research articles that offer insights into important labor market trends. In the June 2021 issue of Minnesota Economic Trends, LMI analysts provide a summary look at Minnesota’s labor market and employment trends in our annual State of the State issue, including articles that focus on regional trends throughout the state. In addition, analysts take a deep dive on one of the driving questions of the day that many employers across Minnesota are asking: where are the workers? Here are some highlights: Stat...

How To Find New Investors For Your Opportunity Zones Before It's Too Late

Wednesday, July 21, 2021

How to find new investors for your Opportunity Zones before it's too late - Opportunity Fund directories, financial advisors, LinkedIn, and old-fashioned networking. Opportunity Zone legislation passed in 2017 and the incentives provided in the legislation are not going to go on forever. Savvy economic developers will take advantage of this limited-time incentive to attract investors to the Opportunity Zones in their community. Opportunity Zones are meant to promote growth in stagnant and underdeveloped regions of the country. There are more than 8,700 Opportunity Zones designated through the U.S. Read full article.

We've got your back: Why R&D and client support matter

Tuesday, July 20, 2021

One of the best parts of my job is interacting with each of our clients prior to and after they launch our industry-leading data tools. After all, economic development is ultimately about people - and the professionals I get to meet with are some of the hardest working people I've encountered, passionate about their communities and devoted to helping them prosper. I always say that we get our best ideas from listening to our clients. We're dedicated to ensuring your experience getting our tools up and running and working for you quickly Whether we're working with a full team from on...

How Technology Can Transform Your Business

Monday, July 19, 2021

The pandemic forced many companies to make big pivots, and by utilizing tech, some found ways to actually positively affect their overall business. Nicole Walters, founder and CEO of Inherit Learning Company and star of USA Network's She’s The Boss, recently spoke with Andres Wydler, executive director of StartOut, about the role technology played in shaping how the LGBTQ nonprofit operated over the last year — and the opportunities it unlocked. "By going virtual during the pandemic, we found the opportunity to turn all of our local events into national ones," he explained. StartOut immediately refocused its efforts from in-person to virtual events and, Wydler says, "The community responded incredibly positively. With tech, w...

3 Steps For Managing Your Small Business’s Taxes

Friday, July 16, 2021

Filing business-related taxes can often be a time-consuming and complicated process, especially for new entrepreneurs. Small business owners need a good understanding of the federal, state, and local taxes required to file. The types of taxes can range from income, employment, excise, and sales. It is critical that business owners are set up for success well before tax season. Here are three steps for managing your small business’s taxes. 1. Find the Right Accountant Most small business owners hire an accountant to ensure that all tax filing and payments are made correctly. Accountants help reduce the amount of time business owners spend o...

6 Inspirational Quotes On Small Business, Breaking Stereotypes And Resilience

Thursday, July 15, 2021

After one of the toughest years on record for the nation’s more than 30 million small businesses, one thing is certain—the American dream is alive and well. Those who weathered the storm pivoted to meet the moment: 95% of owners adapted their businesses in some way, and 50% launched new products, services or sales strategies, according to a recent survey of 10,000 small businesses by Goldman Sachs. Meanwhile, millions of Americans searching for jobs or purpose in their newly remote work lives fueled an explosion in entrepreneurship not seen in decades. With our Next 1000 list, we’re on a year-round missio...

Covid's Explosion

Wednesday, July 14, 2021

High unemployment, the magnifying power of the web and fresh fintech financing are fueling an eruption of startups not seen in decades. And America will never go back to business as usual. In the gritty, gray concrete lobby of Firebrand Collective—a women’s coworking space in Kansas City’s industrial West Bottoms district—Jackie Nguyen makes lattes laced with cardamom and lychee from her colorful mobile coffee shop. A colossal dragon head covers the shop, Cafe Cà Phê, painted the bold yellow and red of the South Vietnamese flag, with dashes of bright blue in a nod to the French influence on the country’s food. “An...

Homeownership Benefits for the Individual and the Community

Tuesday, July 13, 2021

The housing market is thriving, and Swift County encourages readers to explore the vast benefits homeownership brings to families, neighborhoods, and communities alike. We strive to make homeownership a reality for individuals who dream of owning a home and now is the perfect time to begin your home buying journey. Mortgage rates are low and more houses are put on the market every day. Homeownership is important, and we can help you find the connections you need to become a homeowner, too. Why Homeownership Matters Part of the quintessential “American Dream” is homeownership. Homeownership brings with it financial stability, pride and equity...

Mitigate the Risks of Supply Chain Disruption

Tuesday, July 13, 2021

If the recent pandemic has taught business leaders anything, it’s that solid readiness planning through diversification and data analysis can reduce the impact when a crisis hits. Nearly half of operations leaders surveyed in the recent PwC US Pulse Survey indicated that reducing supply chain disruptions is “very important.” But few companies are ready to make the costly move of reshoring or nearshoring, even though a recent executive order put an emphasis on the potential upsides of moving supply chains to — or closer to — the United States or allied countries. Recent changes to multinational trade agreements also further complicate supply chain...

Adapting to a New Workplace Ecosystem

Monday, July 12, 2021

Agile work is increasing due to the pandemic. Having experienced some of the benefits of working from home — such as reduced commutes, increased ability to balance work and life, preferred space to execute individualized focus work, etc. — more office workers are going to expect flexibility in where they work. Recognizing this coming shift is the easy part. Understanding how portfolio and workplace strategies need to adjust — and then executing on those adjustments — is the challenge. In order to explore and better understand how organizations are thinking about these changes, Cushman & Wakefield partnered with CoreNet Global to surve...

Speed to Market Is Key in Landing High-Impact Projects as Economic Recovery Ramps Up

Friday, July 09, 2021

With pent-up demand for growth coming to fruition amid the nation’s economic recovery, speed to market has become more critical than ever for companies in expansion mode. For decision-makers at businesses considering a new location, states capable of streamlining the selection process stand to gain a significant leg up on the competition. Kentucky is matching companies’ sense of urgency and expediting project timelines in a way many others states cannot, an advantage that could help effect profound change through increased investment and job creation. Speed to market not only provides a benefit to growing companies, it’s also a catalyst for creatin...

A Renewed Focus on Workforce Diversity

Thursday, July 08, 2021

While 2020 will certainly be remembered for the COVID-19 pandemic, the year also turned out to be transformative on the diversity and inclusion front (D&I). While much of the world sat socially distanced in their homes, we watched as our fellow Americans expressed outrage and grief over the gaps in opportunity and equity experienced by people of color. While it may have been expected that a global pandemic would shape site location strategy, is it possible that D&I initiatives would also alter the future of site location strategies? A Wake-Up Call With the social unrest and calls to action that 2020 brought...

A New Approach to Energy Savings for Your Next Manufacturing Plant

Wednesday, July 07, 2021

With the rapid increase in natural gas production and over two million miles of natural gas pipelines throughout the U.S., many corporate officials expect accessing gas infrastructure and service to be simple. Unfortunately, many prime industrial sites lack adequate pipeline infrastructure, and project managers have found it increasingly difficult and complex to develop new pipelines. No Pipeline = No Gas Manufacturers typically look to either a local gas distribution company (LDC) or an interstate transmission company to secure access to the energy and manufacturing feedstocks they need. While both good options, often the parties have divergent business objectives. This can result i...

Swift County may soon have another tool to encourage the expansion of affordable workforce housing options in Swift County.

Tuesday, June 30, 2020

Swift County may soon have another tool to encourage the expansion of affordable workforce housing options in Swift County. HRA and RDA Executive Directors are proposing an ordinance to the Swift County Board that will establish a county-wide housing trust fund; a permanent and continuously renewable source of funding to help meet the housing needs of moderate, low income and very low income households. The trust fund is expected to provide loans and grants to individual property owners, homeowners, for-profit and nonprofit housing developers and governmental units. “It’s something we hear all the time – when people are considering a jo...