Mnvalley 12 15 by Free Press Media

Brad Potter, Eagle Lake city administrator.

Reshuffling of development

Apartments, homes strong; office space reshuffles Also in this issue • Elite Portrait Design • White Fox Fur & Feather Co. • Arizona Olive Oil Co.

The Free Press MEDIA

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4 • december 2015 • MN Valley Business

F E A T U R E S December 2015 â&#x20AC;˘ Volume 8, Issue 3

Construction in the Mankato region remains strong and next year looks promising, but developers are trying to divine what will be in demand and what will be saturated.

Jay Arnold DeLeon started White Fox Fur & Feather Co. mostly for fishing customers, but it soon grew to supply crafters, artists and others looking for feathers and furs.

Matt Grams always had an entrepreneurial spirit and decided to start an organic olive oil and balsamic vinegar business, Arizona Olive Oil Co., after moving here from Arizona.

Lake Crystal native Lisa Holthaus started her Elite Portrait Design studio just outside of Mankato in 2002, after moving back to the area from St. Cloud.

MN Valley Business â&#x20AC;˘ december 2015 â&#x20AC;˘ 5

■ december 2015 • VOLUME 8, ISSUE 3 PUBLISHER John Elchert EXECUTIVE EDITOR Joe Spear ASSOCIATE EDITOR Tim Krohn CONTRIBUTING Tim Krohn WRITERS Kent Thiesse Dean Swenson Heidi Sampson Nell Musolf PHOTOGRAPHER Pat Christman Darren Gibbins COVER PHOTO Pat Christman PAGE DESIGNER Christina Sankey ADVERTISING Ginny Bergerson MANAGER ADVERTISING sales Jen Wanderscheid Theresa Haefner ADVERTISING Barb Wass ASSISTANT ADVERTISING Sue Hammar DESIGNERS Christina Sankey CIRCULATION Denise Zernechel DIRECTOR For editorial inquiries, call Tim Krohn at 507-344-6383. For advertising, call 344-6336, or e-mail mankatomag@mankatofreepress.com. MN Valley Business is published by The Free Press Media monthly at 418 South 2nd Street., Mankato MN 56001.

■ Local Business memos/ Company news................................7 ■ Business and Industry trends.........9 ■ Minnesota Business updates....... 10 ■ Business Commentary................. 12 ■ Construction, real estate trends.. 29 ■ Agriculture Outlook...................... 30 ■ Agribusiness trends..................... 31 ■ Job trends..................................... 32 ■ Retail trends................................. 33 ■ Greater Mankato Growth.............. 34 ■ Greater Mankato Growth Member Activities ....................... 38

From the editor

By Joe Spear

Business leaders show broad interests

’ve been an interested and invested observer of the Mankato business and community environment for almost three decades and have always been impressed with a number of people and organizations that truly aim to make the region a great place to live and work. But I recently got more up close and personal insights into the region’s movers and shakers as part of the Greater Mankato Growth Intercity Leadership Visit to Columbia, Mo. There are very few chances for anyone to ever spend four days with 80 of Mankato’s leaders in business, government and nonprofits, and that insight has proven valuable to understanding our community and business culture. So, when I was asked to go on the leadership visit, a kind of fact-finding trip for growing your city, I soon realized this was a rare opportunity to pick the brain of business and community leaders and get a feel for their interests and motivations. One would expect this diverse group of leaders in business from medicine to manufacturing and county and city government as well as arts, education and human service nonprofits, to be parochial in some of their interests. But I heard very little self-interest talk and saw very little silo building. Everyone seemed to have a genuine interest in studying the successes and failures of Columbia, Mo. You also saw business leaders having dinner with nonprofit leaders and government officials hearing out the ideas of both. And business leaders in housing were hearing from business leaders in manufacturing about workforce issues. Of course, business leaders and bankers who don’t cross paths much also probably worked out a deal or two. But contrary to the famous line from President Calvin Coolidge that the “Business of America is Business,” business is often more than a singular focus on the bottom line. The leadership visit encourages a wide ranging view of how business and community can grow together. While it’s difficult to compare a regional business association like Greater Mankato Growth with other chambers of commerce, GMG seems unique in its inclusion and collaboration. It’s very unusual for a geographic chamber with a history of

6 • december 2015 • MN Valley Business

representation to a singular city to branch out and include a regional partners like North Mankato, St. Peter and Le Sueur. Indeed, officials from the regional partners played an important role on the trip. They gave the perspective of smaller cities that make up a significant part of our Metropolitan Statistical Area. The regional association is unique to Minnesota and maybe the country. Others have noticed the unique power the Mankato area seems to have in terms of collaborations and bringing about change together. Legislators from outside our region are always impressed with the Mankato effort on state issues, including, for example, the regional support for roads and highways and regional attractions like expansion of the Verizon Wireless Center. The GMG trip to Columbia exposed the leaders to significant developments and livability enhancements you might not immediately describe as “business,” though they certainly have a big impact on business. The University of Missouri and the city of Columbia work very closely together to develop a downtown arts and entertainment district. The city has a department of “cultural affairs” that coordinators and promotes arts and entertainment events. It also has a publicly-supported massive parks system with funding coming from voter-approved sales taxes that bolsters the city’s livability for families. They’ve thought of how to make their city livable from cradle to grave. We don’t need to duplicate what Columbia does, maybe only replicate the ideas. We may be able, for example, to bolster “cultural affairs” not by a city department but by a coalition of interested leaders. Mankato’s City Center Partnership is already well on its way to leading that charge. While Mankato can take away great things from Columbia, it will be leadership that makes it happen. The leadership group in Columbia clearly understands that “business is not always business.” MV Joe Spear is executive editor of Minnesota Valley Business. Contact him at jspear@ mankatofreepress.com or 344-6382. Follow him on Twitter @jfspear.

Local Business People/Company News

■

Unique Specialty expands

Jeremy Thomas of Unique Specialty & Classic Cars in Mankato has expanded his operations to include a second location in Ham Lake just north of Minneapolis. Unique took over the former Route 65 Classics location and features a showroom with 75 cars. ■■■

vehicles according to the manufacturer’s specifications. Fewer than 5 percent of body shops across the nation meet the requirements to become certified and recognized. ■■■

Thibert joins Blethen

Blethen, Gage and Krause has added associate attorney Alyssa K. Thibert. She graduated summa cum laude from William Mitchell College of Law. She worked for Blethen, Gage & Krause as a summer associate in 2015 and was hired upon her graduation from law school.

Capstone donates to HCMC

Hennepin County Medical Center’s Children’s Literacy Program, which connects young patients and visitors with books to promote language and brain development, is the latest recipient of a national book donation courtesy of GreaterGood.org and Capstone Community Fund. HCMC received 14 pallets of books. Over the next few months, the program will distribute these pallets as a part of its annual donation of more than 30,000 books that help engage parents in their child’s healthy development. The program was created because research shows that children who read lead healthier lives. North Mankato-based Capstone Community Fund has donated more than $1.6 million in books this year to organizations around the world.

■■■ Alyssa K. Thibert

Beal honored

Shannon Beal with JBeal Real Estate Group was recently awarded the Realtor with Heart Award by the Realtor’s Association of Southern Minnesota. JBeal Real Estate Group also recently hired new agent Anthony White.

■■■

Express employee a winner

Tarlis Hancock, an employee at Express Employment Professionals, was the winner of a $1,000 grand prize at the North Mankato office. As a part of recognizing employees, Express International organized a lottery based drawing for an assortment of prizes and five $1,000 cash prizes.

■■■

Harstad joins Wells Fargo

Chris Harstad has joined Wells Fargo as a home mortgage consultant. Harstad comes with 10 years sales and marketing experience in the Mankato area. He is at Wells Fargo’s Home Mortgage Center location on Madison Avenue.

■■■

Haack name Realtor Emeritus

Barbara Haack, a broker at St. Peter Real Estate Co., received the award of Realtor Emeritus from the National Association of Realtors. The award is presented to members of the association who have been a Realtor for 40 years. Haack is the first woman member of the Realtor Association of Southern Minnesota to receive the award.

■■■ Chris Harstad

Valentine joins Century 21

Century 21 Landmark Realtors hired LeAnn Valentine at its Mankato office. She has lived in the Mankato area for 25 years. A social worker by trade, she also owns and manages income producing properties and recently sold a board and care facility which she owned for 17 years.

■■■

Paisley named sales manager

Peter Paisley has been named general sales manager of KEYC. Paisley has experience with other CBS and FOX affiliates, including in Cedar Rapids. He replaces John Ginther who retired after 19 years as local sales manager. ■■■

Jerry’s Body Shop certified

Jerry’s Body Shop has been certified by Assured Performance, a non-profit consumer advocacy organization, for maintaining the right tools, equipment, training, and facility necessary to repair the participating automakers’

■■■ LeAnn Valentine

River Creek Business of the Year

The New Ulm Area Chamber of Commerce named River Creek Nursery as the 2015 Business of the Year. River Creek started in 1995 by Tony Guggisberg of New Ulm and Kevin Schweiss of Fairfax. The duo had been working together at a landscaping business in Winthrop

MN Valley Business • december 2015 • 7

when they decided to open their own company. They worked for the first couple of years out of Guggisberg’s home before moving to their current location at 1200 South Front Street. They do all types of residential and commercial landscaping as well as retail sales from their nursery. ■■■

Borgmeier joins U.S. Bank

U.S. Bank in Mankato has named Chad Borgmeier as home mortgage lender. Borgmeier joins U.S. Bank with more than 20 years of experience in the m o r t g a g e Chad Borgmeier industry. In his role, Borgmeier is responsible for assisting clients with purchasing, building, and refinancing their primary residence and/or investment properties while also making sure the financing meets each individual’s long term financial goals. Borgmeier received his bachelor’s degree in business finance from the Minnesota State University.

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F a r r i s h Johnson Law Office added attorney Paul T. Moosbrugger. He practices in the areas of criminal law, family law, and employment law. After receiving Paul T. his law degree Moosbrugger from the University of St. Thomas, Moosbrugger and his family relocated to Mankato where he worked as a law clerk for Judge Kurt Johnson in Blue Earth County. He actively volunteers his time with the Veteran’s Family Law Clinic in Mankato.

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■

Business and Industry Trends

Economy

GDP up 1.5% for quarter

The Bureau of Economic Analysis reported that real GDP increased at an annual rate of 1.5 percent in the third quarter of 2015, following growth of 3.9 percent in the second quarter. The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures, state and local government spending, and fixed investment. The primary negative contribution was a decrease in private inventory investment. Forecast real GDP growth reaches 2.5 percent for all of 2015 and 2.7 percent in 201.

Other indicators up

Real disposable income grows by 3.3 percent in 2015 and by 3.1 percent in 2016. Total industrial production grows at 1.4 percent in 2015 and 1.8 percent in 2016. Projected growth in nonfarm employment averages 2.1 percent in 2015 and 1.4 percent in 2016. Forecast private real fixed investment growth averages 4.7 percent and 7.1 percent in 2015 and 2016, respectively. Real consumption expenditures grow faster than real GDP, at 3.2 percent in 2015 and at 3.0 percent in 2016. Durable goods expenditures drive consumption spending in both years.

Exports to rise in ’16

Export growth is 1.7 percent and 3.4 percent over the same two years, while import growth is 5.8 percent in 2015 and 5.3 percent in 2016. Total government expenditures rise 0.7 percent in 2015 and 0.6 percent in 2016

Energy

Propane now a net export

As U.S. propane production has increased and domestic demand has remained relatively flat, the United States has transitioned from being a net propane importer to a net exporter. Facilitated by rapid expansion in the capacity to export domestic supply, propane exports from the United States are changing traditional propane trade patterns across the globe. The initial growth in U.S. propane production, between 2008 and 2010, led to a reduction in dependence on propane imports, with net imports falling from an average of 109,000 barrels per day in 2008 to a near-balance of 16,000 barrels in net exports in 2010. By 2011, only Canada remained as a major supplier of propane into the United States, with imports from other countries relegated to deliveries to Hawaii and occasional shipments into the Northeast. U.S. exports of propane initially reached nearby markets in Mexico, the Caribbean, and South America, doubling between 2010 and 2013, from 88,000 b/d to 198,000 b/d. By the latter half of 2013, substantial quantities of U.S. propane exports were being sent to the European market, helping to offset declines in European propane production.

U.S. propane exports are now competing with Europe’s traditional import sources, particularly Russia, North Africa, and the Middle East. More recently, U.S. propane is increasingly being exported to Asia. U.S. propane exports to Asia nearly tripled in 2015.

U.S. coal production plummets

Forecast U.S. coal production in 2015 declines by 92 million short tons (9 percent). Forecast production decreases in all coal-producing regions, with the largest percentage decrease occurring in the Appalachian region (12 percent). Interior region production, which includes the Illinois Basin, is expected to decline by 7 percent, the first annual decline since 2009, while Western region production is expected to fall by 8 percent, dropping to the lowest levels since 1998. U.S. coal production is expected to decrease by an additional 3 percent in 2016. Lower natural gas prices are the key factor driving the decrease in coal consumption. The retirements of coal-fired power plants, stemming from both increased competition with natural gas generation and the implementation of the Mercury and Air Toxics Standards, also reduce coal-fired capacity in the power sector in 2015, but the full effect will not be evident until 2016.

Crude oil price falls

North Sea Brent crude oil prices averaged $48/barrel in October, a $1 increase from September. Daily Brent prices have ranged between $45 and $53 since the beginning of September. Oil price volatility was lower during October than during August and September, but it remains elevated compared with levels in recent years. Brent crude oil prices will average $54 in 2015 and $56 in 2016. West Texas Intermediate crude oil prices average $4 a barrel lower than the Brent price in 2015 and $5 lower in 2016.

Drought cuts hydropower

Total renewables used in the electric power sector to decrease by 2.0% in 2015. Hydropower generation is forecast to decrease by 8.6 percent, and nonhydropower renewable power generation is forecast to increase by 4.4 percent. The 2015 decrease in hydropower generation reflects the effects of the California drought. Forecast hydropower generation in the electric power sector increases by 7 percent in 2016.

Solar power to grow

Continued growth in utility-scale solar power generation is expected, which is projected to average 90 gigawatthours per day in 2016. Because the growth is from a small base, utilityscale solar power averages 0.8 percent of total U.S. electricity generation in 2016. Although solar growth has historically been concentrated in customer-sited distributed generation installations (rooftop panels), utility-scale solar capacity will increase by 112 percent (12 GW) between the end of 2014 and the end of 2016, with 4.6 GW of new capacity being built in California.

MN Valley Business • december 2015 • 9

Minnesota Business Updates

■

■ General Mills boosts offerings Annie’s Homegrown natural foods more than doubled the number of new products it released since General Mills bought the company last year. General Mills acquired Annie’s for an estimated $820 million in late 2014. General Mills CEO Ken Powell told Minnesota Public Radio that the natural foods company had previously shown interest in expanding into soups, yogurt and other products. But that the company didn’t have the capacity before General Mills purchased it. “With General Mills being this big company, lots of R&D resources, and manufacturing, we partner with them and all of a sudden they can get into these categories on their terms,” Powell said. Powell said General Mills has learned not to interfere when it buys a successful business like Annie’s. He said it can be difficult for a large company to create successful natural foods products from scratch.

■ Dayton seeks more agency diversity Gov. Mark Dayton says he wants to diversify the overwhelmingly white managerial ranks across all Minnesota state agencies — roughly 1,000 positions. Nearly nine in 10 management jobs are held by white employees right now, according to the Star Tribune. Dayton said state government can better serve the state’s increasingly diverse population by having more executives of color to craft state policy. Efforts to recruit top talent of color won’t be easy. The state will be jockeying for top candidates alongside such private-sector employers as General Mills, Target and other Minnesota firms that also aggressively have begun diversifying their white-collar ranks. Well-qualified job candidates typically earn more in the private sector.

■ Fastenal growth slows Fastenal, a national wholesale distributor of industrial and construction supplies, struggled in 2013 but it turned around in 2014 as underlying markets

improved, vending revamped and sales improvement efforts yielded results. However, sales slowed down again in 2015 due to currency headwinds, lower sales from the oil and gas industry, severe weather conditions and overall weakness in industrial economy. In its most recent quarterly report, Fastenal beat analysts’ expectations with 47 cents per share. The company’s revenues of $995.3 million, missed the estimate of $1 billion. Fastenal’s total average daily sales growth rate was 1.5 percent, much less than 14 percent in the prior-year quarter.

■ General Mills workers win in court Workers suing General Mills for age discrimination won a round in federal court when a judge rejected the company’s attempt to dismiss the suit and compel individual arbitration, according to the Star Tribune. The suit stems from a General Mills corporate restructuring in 2012 that led to about 850 mostly whitecollar layoffs. The suit’s 33 plaintiffs, all aged 40 and above, claim they were improperly terminated in violation of the federal Age Discrimination in Employment Act. The layoffs affected older employees at much higher rates than younger employees, they claim. Golden Valley-based General Mills says the plaintiffs signed severance agreements that waved legal claims under the age discrimination act. Also, the agreements called for any disputes to be settled through individual arbitration. However, the plaintiffs argued that the employees’ release agreements were not signed “knowingly and willingly,” and therefore unenforceable. A federal judge ruled that whether the releases were signed “knowingly and willingly” is a matter to be determined in court. The law “clearly mandates that a dispute over the validity of a waiver of substantive claims or rights under the OWBPA, like in this case, shall be heard in court, not an arbitral forum,” the judge wrote.

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■ Johnson buys dive business Racineb a s e d Johnson Outdoors Inc. announced it bought SEABEAR Diving Technology, an Austrianbased dive innovation start-up that specializes in the development of underwater instrumentation. Johnson acquired the company’s intellectual property assets and talent. SEABEAR will join Johnson Outdoors’ diving business unit, which makes and markets SCUBAPRO dive equipment sold in more than 80 countries. “The power and appeal of Johnson Outdoors’ iconic SCUBAPRO brand, our deep knowledge of the dive consumer, and legacy of pioneering innovation, combined with SEABEAR’s technology expertise will strengthen innovation and enhance opportunities for sustainable growth in the future,” said Helen JohnsonLeipold, chairman and chief executive officer of Johnson Outdoors. Johnson Outdoors has 1,200 employees at 20 global facilities, including in Mankato.

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■

Business Commentary

By Dean Swanson

Handling the costs of remote workers

hris Byers, CEO of Formstack, an online form builder, has built a thriving remote company, with employees in several states and countries. He worked hard at creating a “remote culture.” But Byers cautions, “If you’re looking to save your business money by going remote, you may want to think again. Although it may seem that remote workers may prove less costly, the extra expenses you need can soon add up. He identifies three main areas that companies should be prepared for possible spending spikes if they transition to a remote workplace model: technology, travel, and recruiting. Here are some thoughts about these areas.

track. With videoconferencing, chat and desktop sharing solutions, your team can volley ideas and work on projects together across the miles with few hiccups. But Byers found that big decisions and large-scale planning discussions are always more impactful in person because there is still value to the human element and touch. Making time for in-person meetings shows remote staff they’re important. Many remote workplaces schedule regular meetings, lunches or events to allow staff to congregate for in-person interaction and to nurture team relationships. Formstack encourages their employees to conduct in-person meetings at least on a monthly basis, depending on their location. Planning a once-a-year employee retreat is a best practice for companies with a remote model, but make sure you have a realistic (and significant) budget so you don’t get event planning sticker shock. If you go remote, expect a significant bump in travel costs like hotel stays, flights, car rentals, travel insurance, staff expenses and budget for employee entertainment such as sporting events and parties.

Technology

“Periodic in-person meetings provide a tune-up to keep projects and communication on track.”

If you’re going to build your business around a remote work model, the tools to facilitate this work need to be top notch. No matter how talented your team, they won’t be able to do their jobs if they don’t have the infrastructure to collaborate across the miles. Many remote workspaces rely on GoogleChat, HipChat and similar platforms to help staff collaborate and share ideas. Platforms like Google Hangouts and Pidgin provide good workarounds for discussions that would normally be done face to face. Most of these solutions are free or low-cost. However, other technology solutions that will make your life easier; like GoToMeeting, Zoom and other screen-sharing solutions, for example, will need to be factored into your budget. Don’t forget about file sharing, too. Hightail, Dropbox or a similar service will be your remote workers’ best friend. Make sure you plan your resources accordingly. When your data and content assets are spread across the globe, backup becomes an important consideration, too. You’ll also need to plan for the cost of cloud-based storage solutions and investments in wikis (a website that allows collaborative editing of its content and structure by its users) like Confluence and DokuWiki. The bottom line is that all of this technology adds up. Make sure you’re prepared. Some of these are freemium services, but you will likely be charged for proprietary features, functionality or virtual goods. Additionally, you can preview some of these solutions for free for about a month.

Travel

Remote collaboration keeps the engine of the team relationship running, but periodic in-person meetings provide a tune-up to keep projects and communication on

12 • december 2015 • MN Valley Business

Recruiting

The good news is, remote work takes relocation packages and moving expenses out of the budget. Remote workers don’t need relocation packages because they aren’t going anywhere! The bad news is, when the world is your oyster, you may find yourself flexing your talent acquisition budget. Want to explore a wider pool of qualified candidates for your job openings? When working from home is an option, HR can conduct a national or even international search. So, plan to pad your sign-on bonus budget. You might need it. As a final thought, remember this: The most important part of any business is its people. Last year, Formstack hired more than 25 new people, meaning that they now have employees in 15 locations across the U.S. and Europe. By allocating your budget to support a more outof-the-box operations structure (and all of the collaborative technologies available today), you can create a work environment that’s appealing to employees, intriguing to customers (and competitors) and productive for business, too. MV Dean L. Swanson is vice president with Southeast Minnesota SCORE www.seminnesota.score.org/ .

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Mike Drummer at the site of what will be a new student housing complex behind Jake’s Pizza near the MSU campus.

Divining the future Growth remains brisk as developers watch trends By Tim Krohn | Photos by Pat Christman 14 • december 2015 • MN Valley Business

Eagle Lake isn’t expecting any big box development, but is getting a boost from locally grown commercial development such as this new day care and office building.

f you’re shopping for some office space, there is plenty around, thanks to a wealth of new high-end space coming on the market and a shuffling of tenants. If you’re looking for housing to rent, the market may be tight for some types of properties but a glut of construction in recent years is loosening things up a bit, according to developers. And if you’re looking to build a new home, there are building lots available and many more about to open up as home builders see a rebound in what has been a rather sluggish market in recent years. As the outdoor construction season ends, area developers and public officials look back at another strong year of economic development in the region. Tenants have been moving into new Class A office space downtown and the frenetic pace of apartment building construction continues. While developers and economic development leaders remain confident the area’s economy and growth will remain strong into 2016, there is also some sense of taking the winter to try to figure out where demand will be and whether certain types of construction — particularly apartments — are nearing a saturation point. Tim Lidstrom concentrates his work on selling and leasing commercial land and buildings, but he keeps a keen eye on the overall development market in the area. “I don’t do a lot with apartments, but it seems to me there are an awful lot of apartment units coming on line. That’s going to be interesting to watch, to see if they will all be filled,” Lidstrom said. Mike Drummer, who has built a good share of those new complexes in recent years, is just as curious. While housing studies commissioned by the city of Mankato continue to show a big demand for more rental units for several years to come, Drummer said no one is ever sure how trends will work out. “Everything is holding up well, but you can see the saturation point is coming. That’s not a bad thing,” Drummer said. “It’s moving toward being a renters’ market instead of a landlord market. The trick is finding

the point where there’s a profit to be made by landlords but the rental prices are held down. I’m not sure where the saturation point is.” The other question is what kind of rental housing will be in demand. There has been a lot of market-rate complexes going up and also highend apartments. Kyle Smith of Tailwind Group said 95 percent of the upper-end apartments he’s soon to open on Front Street in downtown Mankato are leased. He and other developers say that while that higher-end market has been strong and underserved in the area, they can’t predict just how much more will be needed. One rental niche that continues to be strong, Smith said, is student housing near Minnesota State University. Tailwind bought a 3.5-acre site along Stadium Road by Kwik Trip and will construct a building with commercial space on the first floor and student housing on the upper floors. Tailwind also has found good demand for the gated student housing complexes they’ve been building near campus and developers have been adding more student housing complexes in the area around MSU.

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North Mankato growing

Apartments have been the pot of gold for developers in recent years. The demand is driven by demographic and social trends. Brad Potter, city administrator of Eagle Lake, has seen apartments going up at an aggressive pace in recent years. “Multi-family has been great. I’ve talked to landlords and they think the population is more mobile and people don’t want to commit (to owning a home) in case they have to move to another city,” Potter said. That being said, area towns have seen new homes being built at a pace a bit faster than many expected. “We had 40 single-family homes this year (in North Mankato),” said City Administrator John Harrenstein. “That is more, annually, than we have had in at least the past five years. It’s not the 100 homes they were building MN Valley Business • december 2015 • 15

Eagle Lake Administrator Brad Potter said the community has seen a lot of new apartments and some homes going up as the town benefits from its proximity to Mankato. during the boom, but in the new normal it’s a very good pace,” he said. “It renews the commitment to our neighborhoods.” North Mankato also saw housing constructed on the former Marigold Dairy site – an area along Belgrade Avenue that the city owned and struggled for decades to get developed. “That’s exciting,” Harrenstein said. “It’s nice to have that project completed and for us to be able to look on to different projects. They did a nice job and it’s a nice fit with the downtown.” The 19-unit townhome development is being built by Knight Development, a partnership of Adam Huiras and Drummer. “The first three (buildings) are ready for occupancy,” Drummer said. The second phase, with two buildings and 10 units, are going up. “I like them — it’s the transition point between the single-family homes and the commercial district. I don’t think it was too intrusive on the area,” Drummer said. The commercial and industrial growth also has been good, Harrenstein said. D&K Powder Coating built a new facility on Howard Drive in upper North Mankato and Mayo purchased land in upper North for a future facility, likely a clinic and perhaps related facilities. The city is extending Carlson Drive to prepare for that project. Kitchenmaster & Company built a new commercial building by Culver’s that serves as offices and has other leasable space. Best Western completed extensive renovation over the summer. Creative Companies added a large office and warehouse space in the industrial park. And Harrenstein said next year looks promising. “We’re speaking to a number of business prospects, either locally grown or those coming from outside the area. We got a lot of prospects from spinoffs related to the Wal-Mart distribution center, so the benefits of that

16 • december 2015 • MN Valley Business

development is certainly paying off.” The city is looking at adding land to its North Port industrial park to accommodate future industrial development. “We have 35-45 acres available yet in the industrial park. We have to make a decision on where we want to expand our industrial zone.”

National retailers looking

Lidstrom of Lidstrom Commercial Realtors said the new Fleet Farm and a lot of smaller commercial and retail businesses on the Mankato hill have kept things busy and filled in a lot of open development sites. But he said national retailers are still looking for sites in good locations. “If you have some really well-placed retail sites, there is still activity. The nucleus is three or four blocks around the mall, and you have a ton of interest from the nationals. They’d rather pay higher rent and have the best site rather than pay less and not have as good a site.” He said the available office space in the area has expanded and marketing it has changed after several highend office buildings have opened downtown and elsewhere. “There’s a lot of people moving around, and I’m one of them,” said Lidstrom, who moved his offices to the new Profinium Place tower downtown. “That obviously leaves other vacancies out there. We’re even seeing people who owned their own space moving into new space and putting their building up for sale,” he said. “There’s going to be an awful lot of office space around.” Lidstrom said office building owners who are willing to either lease or sell their property will have an advantage. “That way you’re hitting the whole market.” Warehouse space has been tight for several years in the area and Lidstrom said that’s led to construction of more. “You’re seeing a lot of warehouse coming on line.” That new space includes Spee Dee Delivery, FedEx and another large multi-use warehouse in Mankato.

FedEx built a 91,000-square-foot facility on Energy Drive near the Wal-Mart distribution center. “We’ll see how much more of that is spawned by the WalMart,” Lidstrom said. He said that with a new middle school being built on the east edge of Mankato and with roads, including Adams Street and County Road 12 (the airport road) slated for extensions, a lot more land will be ready for development. “That will bring another dynamic to the area, without a doubt,” Lidstrom said. “Overall it’s a very healthy town. Manufacturing got a little soft but is still good. Higher ed, ag, retail, manufacturing — it just all seems to be strong.”

Waiting on the school

Drummer is one person waiting intently on the new middle school project along the intersection of Highway 22 and Hoffman Road. He’s developing a more than 100-acre tract of land around the site that will become single-family homes, townhomes and apartments. “We have plans in the works, but the rain this fall put the infrastructure behind. We sure hope to build in 2016, but it depends on when the streets are done.” Drummer said it’s been another busy year for his residential construction company. “There were lots of apartment buildings, but the residential home building really went well. It was one of our top three or four years, not the top year but very good.” He said they’ve built more than 30 homes this summer. Noah estates, on the northeast edge, has only a lot or two left and nearby Trail Creek is 50 percent sold, he said. He said two of his subdivisions in North Mankato are also filling up. Drummer said the style of home people want can change quickly and he’s never sure exactly why. “At the start of the year ramblers were hot, we couldn’t build enough. By midsummer split-levels were hot again. I’m not sure why, but with split-levels you get more bang for your buck, so I’m not sure if it’s workers moving into town for Wal-Mart or what,” he said. “In 2016, I’m excited about the residential home market. I think the cloud that hung over us from the recession has lifted. It seems like people are more interested in home ownership again.” Still, apartment construction has been sizzling hot for Drummer in recent years, including a large complex near the Wow Zone! and one just started near MSU, behind Jake’s Pizza that will be a 30-unit student housing complex. Besides the new middle school in Mankato, Drummer is looking toward the construction of a new high school in St. Peter. “I think that will cause a building bubble. Anytime you build a school people are interested in living next to it. We have land next to the school. It’s platted and the streets and everything are in – it was a pre-existing subdivision.” Drummer said the future development area in Mankato is obvious. With the river to one side, LeHillier on the other, the airport to the northeast and quite a few wetlands on the south edge of Mankato, building will take place from Mankato to the east and from Eagle Lake toward Mankato. He said Mankato has taken the right approach in planning infrastructure and not allowing development to leap frog out away from the city. “It becomes a public-private partnership to put in the

roads and infrastructure. I think the city is doing it right.” Drummer said “doing it right” means only putting in infrastructure that can be paid for and mostly filling in existing commercial and residential developments before opening new large tracts of land for development. “They’ve progressed in an orderly fashion.”

Eagle Lake – boom town

In the past year or so, Eagle Lake quietly pulled off a pretty big feat. “We’re around 2,800 people as of April, and I think we’ll be closer to the 3,000 mark by now. We’ve kind of taken over Lake Crystal (populaton 2,500) as being the second biggest city in the county,” said City Administrator Brad Potter. You can’t quite see Eagle Lake from the east edge of Mankato, but it’s only about 4 miles away. That proximity and its location next to Highway 14 makes it a prize spot for development. “It’s been mostly housing,” Potter said. “Our commercial is more the smaller locally owned businesses. We’re not going to get the Wal-Marts and Targets, we know that.” He said a new 8,800-square-foot commercial development downtown is a big deal for the town on the commercial side of things. “It’s exciting for us,” he said of the building that houses a day care, a construction company office and has some space to lease. But it’s been the construction of homes and especially apartments that has been booming in Eagle Lake. “The location to Mankato and the nice K-12 school district draws people. And there are still a lot of people who want to live in a smaller town.” Several large complexes were built several years ago on the west edge of Eagle Lake and since then complexes, town homes and single-family homes have sprung up around town. The latest, most visible ones are five buildings with eight units each that opened on the north edge of town and are visible from Highway 14. They were built by Justin Jackson, who a few years ago built the apartment buildings near Hiniker Pond in Mankato. Potter said there are lots available in three subdivisions for single-family homes. “I think we’re comfortable with the number of single-family lots we have available. But we’re always willing to listen to a developer who comes in and has something different to offer.” After long and major street reconstruction projects in and near the city in recent years — in which the main drag was rebuilt and roundabouts were built between Mankato and Eagle Lake on a new County Road 17/Madison Avenue — there are no big public projects in the near future. MnDOT will be doing some safety improvements on Highway 14 on the edge of Eagle Lake. Those projects include allowing only right turns onto 14 at one spot and installing an acceleration lane on 14 near the Casey’s. “I think that will clean some things up for access and safety.” Potter said the city is in good shape as far as adequate utilities to handle growth. He said the city is looking at its parks and recreation needs and MSU is doing a parks plan for the city. “It’s nice to have new eyes and a new perspective. Society has changed and people want to be out and walk and bike more. I think recreational trails will be one of the biggest things we’ll be looking at.” MV

MN Valley Business • december 2015 • 17

Jay Arnold DeLeon started White Fox Fur & Feather in Pemberton in 1980, at first serving mostly the fly fishing sector.

Furs & Feathers White Fox serves anglers, Hollywood, crafters By Heidi Sampson | Photos by Pat Christman

ay Arnold DeLeon, owner of White Fox Fur & Feather Co., grew up hunting and trapping around Blue Earth. Even as a young child he knew there had to be more uses for the squirrel, pheasant and many other skins that were often thrown away after capture. As a young adult he moved to Colorado where he worked on a ranch and a coal mine. One day at the coal mine, a fellow co-worker asked him if he wanted to go fly-fishing. However, as the day of flyfishing wore on, DeLeon ran out of fishing lures. When his partner opened his tackle box to reveal different furs and feathers his co-worker had constructed into lures, Jay realized he had his outlet for the many skins he’d been

saving over the years. The next day DeLeon sold a good portion of the skins he had been saving to his co-worker, which provided the foundation for his future business as DeLeon received information on what his co-worker and others like him were looking for. By 1980 DeLeon had moved back to Pemberton. At first the White Fox Fur & Feather Company started out as a hobby. However, as he acquired knowledge of the individual needs and wants of local fishing stores, Jay began to acquire the skins for their various lures and jigs. “The main question I would ask them is ‘what are you looking for?’ They would tell me what they were looking

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18 • december 2015 • MN Valley Business

Pheasant feathers have always been a mainstay for the business, but a wide variety of feathers are used and can be dyed various colors. for and I would peck away at their lists.” At the time, saving feathers was not legal in Minnesota. In an effort to change the laws, DeLeon started working with the Legislature to make the saving and sale of feathers from birds harvested by hunters legal in Minnesota. When the laws were finally changed he began to market feathers having already built up a base of interested individuals looking to acquire them. Over the years DeLeon realized that he had a lot of extra material, which caused him to branch off into the craft industry in the mid-1980s. “Having a diversified base of customers is key,” DeLeon said. “The biggest advantage to selling furs and feathers to crafters is that instead of buying small quantities they would buy in pounds. That was tremendously helpful when fishing lures were not in season.”

Feathers and Hollywood

Occasionally White Fox Fur & Feather receives a call from Hollywood for props. For instance, in the movie Stuart Little 2, the falcon feathers came from DeLeon’s supply. The feathers were sent to a taxidermist in California who assembled the mechanical hawk for the production. In Pirates of the Caribbean 2 – Dead Man’s Chest, Jack Sparrow is seen floating out at sea in a coffin. When a raven lands on his coffin and starts picking away at the coffin lid, Jack shoots the bird through the lid. All of the black feathers for that particular bird were from Pemberton. “They ordered many, many pounds of feathers,” DeLeon said. “In fact, they told me it took 150 plus takes on that scene alone, with Jack Sparrow in the coffin. It was a lot of black feathers. “We’ve also supplied several other movies and

commercials over the years. In one commercial there was a mechanical squirrel – we supplied the skins. We’ve assisted in props for operas and plays, but mostly bird skins for them. We’ve work with many different taxidermists around the country to help create the items Hollywood, opera and drama theatres are looking for.” Thirty-five plus years after DeLeon’s fly-fishing encounter, he’s carved out his niche. White Fox Fur & Feather employs five part-time employees. Initially he had operated primarily as a fur buyer in which he’d collect squirrel tails, deer hides and beef hides. Today he markets all kinds of animal products. He even has various people who raise a lot of different birds from which they collect the feathers and he buys them. “When I first started I was warned the fur market would drop out,” DeLeon said. “I didn’t want to believe it was possible at that time. However, it wasn’t but a couple of years later and the fur business went down the toilet, so I branched out. I knew I wanted to go full-time, so finding a solid market was optimal. Fly-fishing was great for starting out but it isn’t that big.” He still does some work for the local fly-fishing industry. He collects mostly deer tails for muskie lures. He also does all of the dying of his feathers and furs to get a variety of colors. “We are fortunate. We have good clientele and a steady business. When the economy gets bad my business is usually still busy. Craft markets are very important because they help ride out those times when the economy falls.”

Meager Beginnings

White Fox Fur & Feather occupies the old grocery store in Pemberton, which contained an upstairs. As time went

MN Valley Business • december 2015 • 19

on he also secured a building in down. Everybody was hounding us. stock available and to be as diversified Mapleton for a warehouse. Over the Luckily I had the leftover stock. as possible.” MV years DeLeon turned the upstairs “It’s always a good idea to have extra apartment into a big drying room for feathers. Everything is shipped from the Pemberton and a large part of Let us help protect what is their business is now online. “Business has changed. I remember important to you. when we got our first fax machine At Community Insurance we have the and I thought that was terrific. My ability to compare insurance from first customer across the fax machine had been from Japan. We faxed back multiple companies to get you the best and forth and I couldn’t believe how coverage at a great price. Combine fast that worked. He was my first overseas customer. It’s crazy to think that with our insurance knowledge and of what we can now do by Internet friendly group of agents, and we say alone.” that’s a winning deal. One of the many aspects to DeLeon’s success has been in Protecting the things that matter most in your life. collecting the various animal materials, whether they are selling at the moment or not. Many of the items end up coming back into style. Staying ahead of the need has been a major part of his business strategy. For instance, at one time snowshoe rabbit feet were very popular. WHERE YOUR POLICY COMES WITH AN AGENT Overnight the market for the rabbit’s feet dropped off and he found himself with a large inventory. MANKATO 507.385.4485 “When a product doesn’t sell for AMBOY 507.674.3355 I VERNON CENTER 507.549.3679 five or seven years you have to store INSURANCE OFFICES LOCATED IN THE COMMUNITY BANK BUILDINGS the product and keep it in good shape. Seven years later, when the Christina rabbit foot boom started a second www.cimankato.com Meyer time, the rabbit population was

20 • december 2015 • MN Valley Business

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MN Valley Business • december 2015 • 21

Matt and Leah Grams with their son Matson.

22 â&#x20AC;˘ december 2015 â&#x20AC;˘ MN Valley Business

Flavorful business Arizona Olive Oil Co. opens in mall

By Nell Musolf Photos by Pat Christman

ome people describe their ideal job as something with well-defined parameters. They want a boss, a specific job description and set hours that never deviate from week to week. Matt Grams isn’t one of those people. “I’ve never been wired that way. I’ve always had an entrepreneurial kind of personality,” Grams said. “I enjoy people and I like talking to them so I guess I’ve always been a people kind of person and I’ve always wanted a career that reflected that.” Grams grew up in New Ulm and majored in Communications at Bethany Lutheran College. While living in Mankato during his college years he worked at a variety of restaurants in town. “I was a server for several years and that kind of job gave me the opportunity to work with people and in the food industry,” Grams said. “Of course I always had a boss but when you’re a server you are also working on your own with your customers most of the time, creating your own little world. You’re in charge of your world and I liked that.” For several years Grams satisfied his entrepreneurial urge by running the Saved by Grace Studios, a video and photography business that offers a wide variety of video related services including wedding and special events photography as well as transferring VHS tapes to DVD. Grams moved to Arizona four years ago and returned to the Mankato area this past year with his wife, Leah, and their son, Matson. It was then that Grams decided to add another business to his plate and to the community’s palate. This fall Grams opened the Arizona Olive Oil Co. The business sells organic flavor- infused balsamic vinegars and olive oils along with flavor-infused pastas. The vinegars and olive oils are gluten free. “When we lived in Arizona, there was a store called the Sedona Olive Oil Co. that sold organic olive oils and balsamic vinegars. It was my wife’s favorite store. When we moved back to Mankato we decided to open something similar here. There are stores that sell organic olive oils in the Twin Cities and Duluth but we’re the first in Mankato,” Grams said. Arizona Olive Oil isn’t a franchise; instead it is a private label that sells products that are produced by Tubac Olive Oil and shipped to each business. As an independent business operator, Grams was responsible for coming up with a name for his business and creating the signage for the bottles of oils and vinegars that he would be selling. He created the label design for the Arizona Olive Oil Co. and his wife was responsible for setting up the kiosk where they are currently located at the River Hills Mall between the food court and the Cinemark River Hills Movies 8. “Leah has an eye for merchandising,” Grams said,

“which is fortunate because I don’t. She knew where to put things so that they look good.” The kiosk is loaded with Arizona Olive’s flavorful olive oils and balsamic vinegars. Customers are encouraged to sample different flavors on cubes of bread from Friesen’s Bakery. “Friesen’s makes great bread and I’m happy to be partnering with them,” Grams said. Some of the flavors for the dark balsamic vinegars are garlic cilantro, fig, tangerine and chocolate. The white balsamic vinegars include peach, coconut, jalapeno lime and toasted sesame ginger. A few of the olive oils are blood orange, chipotle, lemon pepper and roasted chili and garlic. The olive oils and vinegars are all organic and can be used in ways people might not have considered before. “You can use our coconut white balsamic vinegar in a mixed drink,” Grams said. “You can use any of our vinegars in a mixed drink and you’ll get a very sweet taste with a lot less sugar.” One challenge Grams has noticed since opening his kiosk is that people aren’t always willing or interested to try new things when it comes to their menu. “I think that might be a Midwestern kind of thing,” Grams noted. “People like their meat and potatoes and aren’t always willing to change anything. But if they find themselves getting bored with what they’re eating, then I strongly encourage them to give one of our oils or vinegars a try. They can pep up a meal in a very healthy way and you don’t have to use a whole lot to get a real flavor infusion. I like to say that our products can turn boring into exciting.” Arizona Olive Oil offers recipes on its Facebook page to help people who might be olive oil challenged (www. facebook.com/azoil.co). Grams said that in addition to tasting delicious, olive oil and balsamic vinegar have definite health advantages as well. “One obvious replacement would be to use olive oil instead of butter,” Grams said. “It’s much more heart healthy and balsamic vinegar has heart healthy benefits as well. Also, since our products are so much lower in sugar than processed products are, they’re much better for people who need to watch their sugar intake. And since they’re organic, you aren’t getting the pesticides that you can get from using a product that isn’t organic.” In addition to helping people rethink their recipes, another challenge for Grams has been helping people get over what he terms “kiosk fear”—that fear that some mall shoppers experience whenever they see a salesperson standing next to a kiosk full of wares. “People unfortunately do sometimes think that if they go near a kiosk at the mall that they might get strong armed into buying something that they don’t want. We’re not like

Spotlight

MN Valley Business • december 2015 • 23

that. We don’t pressure anybody. We just want them to try our product and see how delicious it is on their own,” Grams said. The Arizona Olive Oil Co will be adding another item in the near future: an organic jerky that is gluten free and is made without MSG. “It’s really good and it’s not like most jerkies. I think people are going to like it,” Grams said. “And again, it’s healthier than a lot of jerkies currently on the market.” Eventually Grams would like to find a storefront where the Arizona Olive Oil Co. can have more elbow room. He is eyeing the north Riverfront area and sees that as a place where his business would fit in well. Until he and his wife find the perfect spot they will continue to sell not only at the mall but also online at arizonaoliveco.com. He also sells at trade shows and recently participated in Fairmont’s Harvest Festival. “I haven’t done a huge marketing push yet,” Grams said. “I’ve done some Facebook stuff but right now we are shifting toward a show model and a store model. I’m sure we’re going to get there.” MV

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24 • december 2015 • MN Valley Business

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MN Valley Business • december 2015 • 25

Lisa Holthause started Elite Portrait Design in 2002.

Capturing the moment Elite Portrait a custom boutique By Heidi Sampson Photos by Pat Christman

riginally from the Lake Crystal area, Lisa Holthaus was eager to get back to the Mankato area after having taken a position in St. Cloud following graduation from Minnesota State University. In St. Cloud she Lisa worked for a printing company. She was also taking pictures of her co-workers children and families on the side of her full-time position. Noticing her gift for portrait photography, many of her co-workers began urging her to quit her job so she could take pictures of families full-time. “We knew we wanted to get back to the Mankato area,” Holthaus said. “My husband and I decided to move our family to start Elite

Portrait Design in Mankato rather than build up the business in St. Cloud and then rebuild the business in Mankato at a later date.” Once the decision was made she began the process of designing her future studio. To get a feel for what worked and what didn’t work she began asking her friends in the profession what they would do differently and what would they keep if they could rebuild. In November of 2002, Elite Portrait Design opened its doors in the Mankato area. Her studio is located in a rural area perfect for seasonal and outdoor portraits. In fact, Elite offers a beautiful country setting with fields, wooded areas, wild flowers and beaches, as

Feature

26 • december 2015 • MN Valley Business

well as the option of traveling to urban areas within minutes of the studio. “We mostly take baby, family and senior photos,” Holthaus said. “I used to do weddings. However, I stopped doing weddings this past winter. The decision to focus on families, babies, and seniors, is primarily due to a desire to spend time with my own family and to make that a priority on the weekends instead.”

A typical session

Elite Portrait Design’s schedule varies depending upon the time of year. What Holthaus terms, “senior rush” starts in June and runs through November. However, family portraits for Christmas cards pick up in the fall and run through the third week in December. Baby portraits are pretty constant. “Baby sessions can take up to three hours to complete,” she said. “I like to take my time with newborns. I like to let the parents relax and we take it from there. If a baby is fussy or needs to eat, that’s okay. I found that with babies, one has to be patient. There is no rushing a baby session. With toddlers and little kids, I work as quickly as possible so they stay entertained.” Since Elite is digital, Holthaus will personally edit every single picture taken, especially with her high school seniors. “I want the photos to focus on them and not a small imperfection,” she said. “I want to see really who they are. I can even do modeling sessions with seniors in which I take them around town for their photo shoot. Before we do that, I will go through all of their clothing options with them. “I also spend time trying to figure out who this kid is.

What is their style or interests? Finding out more about them, helps to pinpoint where I take them for photo shoots.” Holthaus will also do clothing consultations for families if they would like assistance. She tries to be as helpful as she can through the entire process, which is part of her boutique studio concept. She prides herself on being a full service photography studio. She even gives her clients a camera to take home so they can take pictures of their family photo walls. Once the pictures are taken, Holthaus transmits their walls onto her studio walls. Then decisions can be made regarding exactly what size of collage or portrait would look best above a client’s fireplace, taking the guesswork out of choosing appropriate photo sizes. Also, by knowing the colors of a client’s home she can help incorporate their decorating tastes into the frame that fits the client’s style. “I can honestly say that I love what I do,” said Lisa. “I love being able to show parents how I see their kids, how adorable they are. I keep a lot of the outtakes because I think those show personality too. When my clients are here for their viewing, a lot of times they cry when they see the photos for the first time, they are moved by what I’ve created,” she said. “With families and children, I can see who they really are. I can capture that unique piece that is only within that baby, child, family or senior, creating a picture equal to that in my mind. A treasure for the family to have.” MV

MN Valley Business • december 2015 • 27

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4500

1000

Source: City of Mankato Information based on Multiple Listing Service and may not reflect all sales

- 2014 - 2015 275

Includes single family homes attached and detached, and town homes and condos

Housing starts: Mankato/North Mankato - 2014 - 2015

214 30

165

14 14

110

55 J

Source: Realtors Association of Southern Minnesota

Source: Cities of Mankato/North Mankato

Commercial building permits Mankato

(in thousands)

- 2014 - 2015

Commercial building permits North Mankato

- 2014 - 2015 (in thousands)

4000 3000

$3,152 $1,744

Source: City of Mankato

5.5 5.0

4.0%

4.5 4.0 3.5

3.9% F

Source: Freddie Mac

$421 $328

1000 0

Foreclosures: 2014 Year End

— 2014 — 2015

2000

Source: City of North Mankato

Interest Rates: 30-year fixed-rate mortgage

3.0

214

220

80000 70000 60000 50000 40000 30000 20000 10000 0

Source: City of North Mankato

Existing home sales: Mankato region

- 2014 - 2015 (in thousands) $3,965 $1,617

County

2013

2014

Percent change

Blue Earth Brown Faribault Le Sueur Martin Nicollet Sibley Waseca Watonwan

101 19 27 70 25 43 39 36 24

72 21 21 47 28 24 22 27 7

-29% +11% -22% -33% +12% -44% -44% -25% -71%

Source: Minnesota Foreclosure Partners Council C. Sankey

MN Valley Business • december 2015 • 29

■

Agricultural Outlook

By Kent Thiesse

Ag groups hope for trade pact support

n October trade ministers from 12 nations, including the United States, reached an agreement on the Trans-Pacific Partnership trade agreement. Other countries involved are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Together, the 12 nations account for 40 percent of the world’s economic output. On Nov. 5, the full details of the 30 chapters in the final TPP agreement were released. The U.S. already does a considerable amount of export business with the other TPP countries, totaling an estimated $622 billion in 2013. The TPP would reduce more than 18,000 current tariffs that inhibit American products from being exported to the other TPP countries. Some examples include a 38 percent tariff on U.S. beef entering Japan, a 40 percent tariff on U.S. poultry entering Malaysia, and a 34 percent tariff on U.S. pork entering Vietnam. Japan also has large tariffs on U.S. dairy products, wheat, corn, and rice. On the flip side, the U.S. agreed to reduce current tariffs on sugar that is imported into the U.S. from TPP countries, which has been a sticking point with some farm groups, the sugar industry, and some members of Congress. The agreement would also open up U.S. trading possibilities with a wider range of Asian countries on more goods and services. It is also hoped that having a stronger economic alliance with Japan and the other Asian countries will strengthen the U.S. national security in that region of the world. China, which has the largest economy in Asia, is not a partner in the current agreement; however, it is hoped that China may at some point be added as a TPP trade partner. The TPP agreement would also force the member nations to comply with certain labor and environmental regulations, which was very important to the U.S. negotiators. The agreement will ban forced and child labor, in addition to establishing certain wage guidelines and other workplace standards. The agreement will also ban illegal fishing, wildlife trafficking, and illegal logging. The agreement will provide the U.S. more authority to contest export rejections that are made on the basis of sanitary rules for plant and animal diseases, without scientific evidence or proper grounds. Most observers estimate that the agriculture industry will be a winner from the TPP agreement if it’s approved. In the 2014-2015 fiscal year, the U.S. exported approximately 47 percent of the soybeans, 42 percent of the wheat, and 13 percent of the corn produced here. The U.S. also exported 20 percent of pork production, and significant amounts of beef, dairy, and poultry products, rice, fruits, and vegetables. The reduction in the significant tariffs in Japan, Vietnam, and other Asian countries with the TPP agreement should help open up new markets for U.S. grain and meat products. Even with the current tariffs, annual U.S. agricultural exports in 2014 totaled over $13 billion to

30 • december 2015 • MN Valley Business

Japan, $2.3 billion to Vietnam, and just under $1 billion to Malaysia. Overall, the U.S. agricultural exports totaled $63 billion to the other eleven TPP countries, or 42 percent of the total U.S. agricultural exports. Many of the Asian countries have a rapidly growing middle-class population, which tends to be favorable for higher levels of U.S. agricultural exports. From an agricultural standpoint, Minnesota has a lot at stake with the pending agreement. Minnesota ranks first in the U.S. in sugar beet and turkey production, third or fourth in corn and soybean production, second or third in pork production, seventh in dairy production, and ninth in wheat production, as well as being a major producer of beef, other poultry products and vegetables. The total estimated value of Minnesota’s agricultural exports in 2013 was $8 billion, with the top five exports being soybeans, feeds and fodder, corn, pork, and wheat. Currently, several Asian countries have some high tariffs on exports for most of the leading agricultural export commodities. While there are many agriculture groups and companies that support the TPP agreement, there are also some that oppose the agreement. Because most trade agreements tend to create winners and losers, along with other issues, there is rarely uniform support for these types of agreements. Many members of Congress and trade experts want to wait until they can review the full text of the TPP agreement before pledging support to the agreement. Some members of Congress and corporate leaders are concerned the agreement does not have specific language to address the issue of currency manipulation and monetary policy difference among the member nations. Some agricultural leaders fear that the currency manipulation may lead to U.S. export products being undervalued, and thus lowering the economic benefit to farmers and ranchers. Labor unions have also opposed the agreement, feeling that it did not go far enough to level the playing field for work conditions and wages in other countries. The next step requires all 12 member nations in the agreement to approve the new agreement. The full text of the TPP agreement must be made public for at least 60 days. The U.S. Trade Commission is expected to conduct full economic review of the agreement. Most expect the congressional debate regarding the legislation to last for months and that final approval may not come until later in 2016, if at all. The presidential election adds another wrinkle to achieving approval of the agreement. Hillary Clinton, as well as several leading Republican candidates, have already announced opposition to the TPP agreement for various reasons. Some observers fear that this may keep members of Congress from taking any action on the agreement until after the election. Many agricultural leaders are hoping that the TPP debate can move more quickly. MV

Agriculture/Agribusiness Corn prices — southern Minnesota

(dollars per bushel)

— 2014 — 2015 8

$3.22

$9.04

Source: USDA

Iowa-Minnesota hog prices

$3.09

125

Source: USDA

Minimum prices, class 1 milk Dollars per hundredweight

— 2014 — 2015 30

$101.11

110

$8.03

Milk prices

185 pound carcass, negotiated price, weighted average

— 2014 — 2015 140

$25.43

27 24

$51.76

65 50

(dollars per bushel)

— 2014 — 2015 20

Soybean prices — southern Minnesota

Source: USDA

$18.23

18 15

Corn and soybean prices are for rail delivery points in Southern Minnesota. Milk prices are for Upper Midwest points.

Kent Thiesse is farm management analyst and vice president, MinnStar Bank, Lake Crystal. 507- 381-7960; kent.thiesse@minnstarbank.com

Source: USDA. Based on federal milk orders. C. Sankey

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MN Valley Business • december 2015 • 31

Employment/Unemployment Initial unemployment claims

Minnesota initial unemployment claims

Nine-county Mankato region Major October Industry ‘14 ‘15 Construction Manufacturing Retail Services Total*

96 202 44 169 511

Percent change ‘14-’15

106 251 43 135 535

Major Industry

+10.4% +24.3% -2.3% -20.1% +4.7%

October

Construction Manufacturing Retail Services Total*

‘14

‘15

Percent change ‘14-’15

2,993 1,758 1,212 4,720 10,683

3,400 1,922 948 3,925 10,195

+13.6% +9.3% -21.8% -16.8% -4.6%

Services consist of administration, educational, health care and social assistance, food and other miscellaneous services. *Categories don’t equal total because some categories not listed.

Local non-farm jobs

Minnesota Local non-farm jobs

- 2014 - 2015

Nine-county Mankato region

128,134 125,755

133000

2000

111000

1000

Local number of unemployed

- 2014 - 2015

Nine-county Mankato region

200000

8000

150000

4,441 3,927

- 2014 - 2015

108,265 95,810

100000

4000

50000

2000 0

Minnesota number of unemployed

10000

6000

2,882 2,893

3000

122000

100000

- 2014 - 2015

(in thousands)

Mankato/North Mankato Metropolitan statistical area

Unemployment rate Number of non-farm jobs Number of unemployed

Unemployment rates Counties, state, nation

(includes all of Blue Earth and Nicollet Counties) September

2014

2015

2.8% 56,533 1,655

2.6% 56,573 1,476

Source: Minnesota Department of Employment and Economic Development

32 • december 2015 • MN Valley Business

County/area Blue Earth Brown Faribault Le Sueur Martin Nicollet Sibley Waseca Watonwan Minneapolis/St. Paul Minnesota U.S.

September 2014 September 2015 3.0% 2.6% 3.3% 3.1% 3.6% 3.5% 3.8% 3.2% 3.9% 3.9% 2.6% 2.4% 3.4% 3.3% 4.0% 3.6% 3.8% 3.7% 3.5% 3.1% 3.5% 3.2% 3.7% 4.9% C. Sankey

Retail/Consumer Spending Vehicle Sales Mankato — Number of vehicles sold - 2014 - 2015 870

977 1200

(In thousands)

500

800

400

600

300

400

200

100 J

Source: Sales tax figures, City of Mankato

Lodging tax collections Mankato/North Mankato 70000 60000 50000 40000 30000 20000 10000 0

- 2014 - 2015

600

1000

Includes restaurants, bars, telecommunications and general merchandise store sales. Excludes most clothing, grocery store sales.

Sales tax collections Mankato

$539

$463

Mankato food and beverage tax

- 2014 - 2015

$43,418

Source: Sales tax figures, City of Mankato

- 2014 - 2015

110000

$46,657

$57,200 $65,500

88000 66000 44000 22000

Source: City of Mankato

Stocks of local interest

Oct. 13

Nov. 13

Percent change

Archer Daniels

$44.92

$37.76

-16.0%

Ameriprise

$107.99

$112.49

+4.2%

Best Buy

$37.03

$32.06

-13.4%

Crown Cork & Seal

$50.53

$50.15

-0.8%

Consolidated Comm.

$19.66

$20.48

+4.2%

Fastenal

$37.95

$38.60

+1.7%

General Growth

$26.87

$25.17

-6.3%

General Mills

$56.58

$55.81

-1.4%

Hutchinson Technology

$1.82

$3.67

+101.6%

Itron

$34.38

$33.67

-2.1%

Johnson Outdoors

$21.49

$22.24

+3.5%

$149.11

$156.68

+5.1%

Target

$78.97

$71.93

-9.0%

U.S. Bancorp

$41.40

$42.39

+2.4%

Wells Financial

$33.00

$34.50

+4.5%

Winland

$1.75

$1.99

13.7%

Xcel

$35.90

$35.01

-2.1%

Gas prices-Mankato — 2014 — 2015

5 4

$2.89

$2.12

1 0

Gas prices-Minnesota — 2014 — 2015

5 4

$2.85

3 2 $2.16

1 0

Source: GasBuddy.com C. Sankey

MN Valley Business • december 2015 • 33

Growing By Going Outside the Lines InterCity Leadership Visit sparks new ideas for Greater Mankato

n early November a delegation of more than 70 business and community leaders from Greater Mankato gathered together and traveled to Columbia, Missouri as part of the fourth InterCity Leadership Visit (ICLV). While there the group, made up of individuals from the private, community based, nonprofit and public sectors, studied innovative ideas and best practices that may be brought back and adapted to the Greater Mankato region. Additionally, the group experienced some of the Columbia area’s most relevant stories and initiatives that align with Greater Mankato’s community visioning goals.

History of ICLV InterCity Leadership Visits consist of bringing a group of Greater Mankato’s leaders together to visit another U.S. city to study specific, identified challenges and opportunities. Participants study applicable best practices first-hand, as well as challenges and opportunities to address. The destination of a trip is carefully selected based on identified goals and issues to be studied. The first delegation from Greater Mankato gathered in 2005 for an ICLV to Bellingham, WA, which gave 73 leaders the impetus to begin our Envision 2020 (E2020) community visioning plan. In 2006, 75 delegates traveled to Fort Collins, Colorado, which spurred the ideas for much of our city center revitalization efforts and our online community events calendar. In 2007 and 2009, delegations held two-day retreats locally to continue the progress of our community visioning goals. In 2011, 73 delegates traveled to Charlottesville,Virginia where we were introduced to ideas that further enhanced the development of our city center as well as highlighted the benefits of a research park.

Greater Mankato Growth

Goals of the 2015 ICLV Trip In the fall of 2014 business and community stakeholders were surveyed as part of the Envision 2020 Phase 2 initiative to identify the key focus areas and opportunities believed to be the most important to achieving our desired future state as a community. This feedback helped to form the agenda and areas of study for this trip. Key session topics included: 1. Economic Development Strategies & Partnerships 2. Talent Development, Attraction & Retention Initiatives 3. Health care 4. Downtown Development & Cultural Affairs 5. Agriculture & Education 6. Sports Facilities

What Comes Next? Throughout the entirety of their trip the delegates were contributing their feedback, key take-aways and suggestions to bring back to the Greater Mankato community. That data, along with input collected from various wrap up and review sessions will be compiled and shared via the Greater Mankato Growth website at greatermankato.com. Thank you to our 2015 ICLV sponsors for their support and generosity: BENCO Electric Cooperative, Children’s Museum of Southern Minnesota, Eide Bailly, EI Microcircuits, ISG, Mayo Clinic Health System, McDonald’s, U.S. Bank, Xcel Energy A program of:

34 • december 2015 • MN Valley Business

“We have a lot to be proud of in the Greater Mankato region but we can always be seeking ways to grow and get better. One key takeaway for me was the ongoing challenge and importance of social equity in our communities. The timing of our visit to Columbia put an exclamation point on the importance of this issue. [However], the most important takeaway for me is to see the incredible commitment of 70 plus community leaders from the region who are engaged and willing to take time out of their busy schedules to come together and find ways to partner in support of the continued growth and success of the Greater Mankato Region. The content of our meetings and tours was excellent but the real power and fun was the networking of a such large group of engaged community leaders.” - Richard Grace | Chief Administrative Officer, Mayo Clinic Health System

“Being a part of the leadership delegation for GMG’s 2015 InterCity Leadership Visit to Columbia, Missouri far exceeded my wildest expectations. I found the opportunity to meet and have deep conversations with others on our delegation both personally enjoyable and professionally relevant as a still relatively new leader in the Greater Mankato community. I also came home recognizing that the time is prime and now for Minnesota State University, Mankato to take a lead and vital role in achieving even greater levels of positive impact and growth in our region.” - Marilyn Wells | Provost and Senior Vice President for Academic Affairs, Minnesota State University, Mankato

“The ICLV trip to Columbia, MO was extremely valuable for the attendees as well as the community of Mankato. We received affirmation that Mankato is doing very well as a community while also learning of some areas of improvement. The conversation and relationship building between the attendees throughout the trip was incredible. I feel extremely fortunate to have been a part of the ICLV delegation and for living in such a supportive community. The investment into the ICLV trip proves we are a progressive community that strives for growth and improvement.” - Dan White | President, Office Space Design

- Ben Ellingson | Partner, Eide Bailly

Being new to Greater Mankato Growth and the InterCity Leadership visit, I found the Columbia tour helpful and informative as we continue to grow and prosper as a thriving city. It’s important that we learn from other communities to ensure that we have the most robust programs, services and collaboration from all sectors of our community. - Deb Newman | Executive Director, Partners for Affordable Housing

MN Valley Business • december 2015 • 35

Greater Mankato Growth

“It was incredible to experience the successes and challenges of another community through the eyes of their leadership. We identified a variety of ideas help strengthen our community and continue to move it forward, but also realized numerous successes we already enjoy and should celebrate!”

Greater Mankato Blog

Authored by the staff at Greater Mankato Growth, Inc., the Greater Mankato blog is your source for events, updates and information that span business growth and retention; talent growth retention and attraction; regional livability and advocacy of the Greater Mankato marketplace. The blog can be found online at greatermankatoblog.com.

Share Your Story LIVE You make this community what it is, a vibrant place to live, WORK work and play. With extraordinary things happening right here in the Greater Mankato community we invite you to share your PLAY story and follow others across social media platforms using MANKATO #liveworkplaymankato. Text Alerts Get community based text alerts sent directly to your mobile phone. Greater Mankato Growth now offers text alerts promising no more than five messages sent per month and always having a community focus.Visit greatermankato.com/text-alerts for more info.

Greater Mankato Growth

Social Media

KEEPING

Connected

Whether it’s on your desktop, tablet or smart phone; on the go or from your couch, Greater Mankato Growth has a number of ways you can keep connected.

36 • december 2015 • MN Valley Business

Whether you prefer to like or follow, Tweet or find a favorite picture from Flickr, Greater Mankato Growth can be found across a variety of social media platforms to keep you up-to-date on what is going on in our community. Scroll to the bottom of greatermankato. com for links to all of our social media channels.

RAISING AWARENESS AT THE CAPITOL Mark your calendars, the annual Greater Mankato at the Capitol will be held on Tuesday, March 30, 2016. This is your chance to present the issues of importance to your business, connect on a one-on-one basis with leaders and be an advocate on your own behalf. Everyone from the Greater Mankato community is invited and strongly encouraged to participate. Attendance is absolutely critical to the success of this event and all of our efforts to raise awareness of Greater Mankato among those making and influencing public policy. To learn more, view sponsorship opportunities or register for the event, visit greatermankato.com/ capitol.

MARCH 30, 2016

5:00 - 7:00 pm December 1

Gislason & Hunter

2015 Business After Hours Sponsored by:

December 16

Wells Federal Bank

2015 Business Before Hours Sponsored by:

October Business Before Hours Hosted by South Central College

Business After and Business Before Hours gives representatives from GMG member businesses at the Engaged Level or higher an opportunity to get together with one another to exchange ideas and learn about each otherâ&#x20AC;&#x2122;s businesses. For more information on these and other member events, visit greatermankato.com/events. Watch the website for updates on the 2016 Business Before and Business After Hours

MN Valley Business â&#x20AC;˘ december 2015 â&#x20AC;˘ 37

Greater Mankato Growth

October Business After Hours hosted by ISG

7:30 - 9:00 am

DEDICATION

RIBBON CUTTING

Growth in Greater Mankato Brett’s Building 11 Civic Center Plaza, Suite 008 Mankato, MN

D&K Powder Coating 2240 Howard Drive West North Mankato, MN

RIBBON CUTTING

NEW LOCATION

Profinium, Inc. 100 Warren Street, Suite 100 Mankato, MN

Rignell Family Chiropractic 1351 Madison Ave, Suite D Mankato, MN

The Design Element 1711 Premier Drive Mankato, MN

Cavaliers

Greater Mankato Growth

Cavalier Calls on the Newest Greater Mankato Discipline Advisors , Inc. 150 Saint Andrews Court, Suite 210 Growth Members

Hedgehog Advertising 252 Cliff Drive North Mankato, MN hedgehogadvertising.com

Mankato, MN disciplineadvisors.com

Hardee’s 1405 Madison Avenue Mankato, MN minnkotaburgers.com

Lime Valley Chiropractic 1704 North Riverfront Drive, Suite 100 Mankato, MN limevalleychiro.com

The Landing on Madison 803 Main Street Madison Lake, MN facebook.com/thelandingonmadison

38 • december 2015 • MN Valley Business

2015 Minnesota Governor’s Pheasant Hunting Opener

Minnesota Vikings 50th Training Camp

2015 Reflection – 2016 Anticipation By Paige Schuette,Visitor Engagement Manager at Visit Mankato

his year has been a busy one for Visit Mankato with a packed calendar of events. The organization worked with several large events including the USA Archery Indoor National and JOAD Championship in March, Minnesota Air Spectacular in June, WORLD FITASC Sporting Clay Shooting Championship and U.S. FITASC Sporting Clay Shooting Grand Prix in July, Minnesota Vikings 50th Training Camp in July/August and the Mankato River Ramble, Minnesota Governor’s Pheasant Hunting Opener and Mankato Marathon in October. This year has been abundant for Visit Mankato and the 2016 forecast looks just as exciting. A few notable events to be hosted in Mankato in 2016 include the North American Fast Pitch Association World Series, bringing more than 1,200 participants to Mankato August 11-21 and the Minnesota Basketball Showcase, June 24-26 with an estimated 700 participants.

In July, the Minnesota Vikings will be back in Mankato for their 51st Training Camp and with the hype of the new stadium opening in 2016, attendance at training camp is expected to be high. The Mankato Marathon changed things up a bit this year, moving the finish line to Front Street and the post-race party was kicked up a notch, with a live band, free beer from Mankato Brewery/Pub 500 and food vendors. These changes were well received by runners and will be enhanced in 2016. The Verizon Wireless Center will open their doors of the new expansion in 2016. The multi-use auditorium will feature more than 30,000 sq. ft. of new meeting space with state-of-the-art technology to attract more conventions, meetings and events to the area.

nmadison 2015 WORLD FITASC Sporting Clay Shooting Championship

2015 Minnesota Air Spectacular - Photo courtesy of the Mankato Free Press

MN Valley Business • december 2015 • 39

Greater Mankato Growth

Visit Mankato is thankful for a great year and looks forward to what 2016 will bring its way. These great events and celebrations couldn’t occur without the tremendous support from community stakeholders, volunteers, sponsors and our citizens.

» C OME JUDGE

for Yourself.

GOLFERS FROM AROUND THE WORLD COME TO CHALLENGE THE JUDGE and the two other golf courses in Prattville at RTJ Capitol Hill. Bring your clubs and come take on Judge hole number 1, voted the favorite hole on the Trail. Complete your day in luxury at the Marriott and enjoy dining, firepits and guest rooms overlooking the Senator golf course. With the Marriott’s 20,000 square feet of meeting space, 96 guest rooms and luxurious Presidential Cottage combined with three world-class golf courses, business and pleasure can definitely interact in Prattville.

THE ROBERT TRENT JONES GOLF TRAIL AT CAPITOL HILL is home of the Yokohama Tire LPGA Classic on the Senator Course September 18 to 24, 2014. The Marriott Prattville is part of the Resort Collection on Alabama’s Robert Trent Jones Golf Trail. Visit www.rtjgolf.com or call 800.949.4444 to learn more.