MN Valley Business by Free Press Media

The Definitive Business Journal for the Greater Minnesota River Valley

Dan and April Miller with their Adam’s Eatery food truck. Photo by Jackson Forderer

Trucking along Food truck growth soaring

May 2022

Also in this issue

• JP FITNESS ADDING A SECOND LOCATION • J LONGS REMODELS, EXPANDS SHOWROOM • THE SMALLEST COG BIG SHOP IN ST. PETER

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F E A T U R E S May 2022 • Volume 14, Issue 8

Just a few years ago, food trucks were a rare site in the Mankato region, but more and more new trucks enter the market each year.

Aaron Jones, along with Matt Long, Jim Long and Judy Long, have renovated and expanded the showroom at their J Long store.

Mark Plotz was a community planner in Washington, D.C., but rekindled his love of bikes and opened The Smallest Cog in St. Peter.

Finding success at their Madison East site, JP Fitness is opening a second location on North Victory Drive in Mankato.

CORRECTION

A story in the April MN Valley Business magazine on Dynamic Defense gun safety and training listed the wrong website for the business. The website is: dynamicdefensemn.com

MN Valley Business • MAY 2022 • 3

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MAY 2022 • VOLUME 14, ISSUE 8 MAGAZINE EDITOR Tim Krohn DESIGNER Christina Sankey COPY EDITOR Kathy Vos CONTRIBUTING Tim Krohn WRITERS Kent Thiesse Dean Swanson Dana Melius Jane Turpin Moore Katie Roiger PHOTOGRAPHERs Pat Christman Jackson Forderer COVER PHOTO Jackson Forderer ADVERTISING Danny Creel Sales Jordan Greer-Friesz Josh Zimmerman Theresa Haefner Tim Keech ADVERTISING Barb Wass ASSISTANT ADVERTISING Christina Sankey DESIGNERS CIRCULATION Justin Niles DIRECTOR PUBLISHER Steve Jameson EXECUTIVE EDITOR Joe Spear For editorial inquiries, call Tim Krohn at 507-344-6383. For advertising, call 344-6364, or e-mail advertising@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.....................................5 ■ MRCI....................................................6 ■ Business Commentary.........................8 ■ Business and Industry trends..........22 ■ Retail trends.....................................23 ■ Agriculture Outlook..........................24 ■ Agribusiness trends..........................25 ■ Construction, real estate trends.....26 ■ Gas trends........................................27 ■ Stocks...............................................27 ■ Minnesota Business updates............28 ■ Job trends.........................................28 ■ Schmidt Foundation.........................30 ■ Greater Mankato Growth..................32 ■ Greater Mankato Growth Member Activities ............................35

From the editor

By Joe Spear

Tax talk and political balks What we should do with $9 billion to benefit Minnesota society

here’s a lot of talk about taxes these days in Minnesota with a nearly $9.3 billion budget surplus, a relatively historic event. Both Republicans and Democrats want to cut taxes or otherwise give the money back. We should all be for some of that, whatever variation. We’ve not seen this much money in a long time. You might say it’s a good problem to have in a time when inflation is looming its head at a 40-year high, and there’s a World War II-like event in Ukraine. But over the years we’ve heard about constant funding shortages that could take up that surplus pretty easily. Overdue infrastructure improvements alone from highways to schools to bridges and leaky state building roofs could take some of it. A 2019 Free Press analysis showed Minnesota would need $70 billion in infrastructure improvements or investments in the next 20 years, or $3.5 billion a year. It’s always a good practice to have a budget reserve of 5-10%. In a $50 billion two year budget, that’s $2.5 to $5 billion. Add in the longtime underfunding of special education by the federal government, and you need $724 million a year. Speaking of education, if folks pass a constitutional amendment guaranteeing equal education in Minnesota, educational costs could skyrocket from their $8.86 billion a year level. The surplus should motivate us to innovate for cost and efficiency of the future. To think big.

4 • MAY 2022 • MN Valley Business

The first place to start would be schools. Combine schools, shed the ones that are crumbling and costly and build new regional technology centers that would fit life-long education, not just elementary and secondary kids. Build public transit to and from schools and in city and country to reduce carbon dioxide emitted by single passenger vehicles that we know are destroying the earth. Reshape the tax code, using fairness rates or even a flat tax and eliminating exemptions that have bred a mini tax avoidance industry. Reshape the budget using common sense ideas like zerobased budgeting. Increase teacher pay by 20% but allow real-life experiences to qualify teachers as well for our technology schools. We’ll have motivated teachers who are the biggest investment we can make in a more civil, educated and environmentally friendly society. Triple or quadruple the number of electric vehicle charging stations. Make it free. Again, incentivize clean air and water. Buy farmland if we have to for 25% over value as a cheap way to clean up water and streams, using the purchased land to hold back and store water. Create equity in the tax code. Why should a farmer get sales tax exemption from buying a $300,000 combine while “One guy and truck” moving company has to pay sales tax on his truck? With technology and computer prices so low, do businesses really need a tax break to buy them, especially when we know how much they add to productivity?

Tax cuts will get people a few thousand bucks at most. We could think much bigger than lowering tax rates or distributing “Walz checks” and reduce government spending in the long run by fixing things we’ve said are broken for years. But that’s wishful thinking for $9 billion. And I won’t be running for office anytime soon. Joe Spear is executive editor of Minnesota Valley Business. Contact him at jspear@mankatofreepress.com or 344-6382. Follow on Twitter @jfspear.

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Local Business People/Company News

Hertz Farm Mgt. staff honored

Hertz Farm Management announced that two dozen employees have been recognized as part of the 2021 APEX Producers Club by the Realtors Land Institute. The awards are sponsored by The Land Report. Hertz Employees recognized were Brent Bidner, Cal Dickson, Rebecca Frantz, Kyle Hansen, Rick Hauge, Rachelle Heller, Scott Henrichsen, Darrell Hylen, Ryan Kay, Chad Kies, Adam Knewtson, Michael Krause, Stan Lierz, Troy Louwagie, Brian Massey, Geoff Mead, Elliott Siefert, Chris Smith, Spencer Smith, Matt Vegter, Kirk Weih, Eric Wilkinson, Charles Wingert and Brandon Yaklich. The awards are given to those who have achieved the highest level of education, experience, and professionalism. ■■■

Three join True Real Estate

Dayna Jaster, Rebecca Prater and Teranie Riley have joined True Real Estate as real estate agents. Teranie is a native of Arlington, Texas, and currently lives in Albert Lea. Prater is a native of Dallas and lives in Albert Lea. Jaster has lived in St Peter and the surrounding communities for more than two decades. She brings several years of real estate

sales experience following a background in the finance industry. ■■■

Indulge Salon honored

Indulge Salon & Tanning was selected as a SalonToday Top 200 salon in the US. The salon is located in North Mankato and has 16 employees. ■■■

Chankaska honored

Wine Enthusiast Magazine has announced the Best Gins and Vodkas of 2021. The top 100 spirits list includes Chankaska’s Ranch Road Barrel Gin which features botanicals such as juniper, elderflower, and coriander that are aged in barrels to allow for a burnished gold hue. Chankaska started crafting distilled spirits in 2012, and since has added whiskey, bourbon, gin, vodka, along with liqueurs. Wine Enthusiast awarded the Ranch Road Barrel Gin a score of 93 points. Go to winemag.com to learn more about how they score the products. This is the second product that has been produced by Chankaska to have been named in the Top 100 spirits list by Wine Enthusiast Magazine. Chankaska’s North Forest Pumpkin Kreme was awarded 93 points in 2018.

Schooff earns designation

David Schooff, CEO and Owner of Coldwell Banker Commercial Fisher Group, has earned the Certified Property Manager designation from the Institute of Real Estate Management. Schooff is the only CPM in the Greater Mankato marketplace. Certifications from IREM are recognized as the marks of ethical leadership and well-managed proper ty. The designation requires five days of intense asset management course work, exam and portfolio application. ■■■

Boulay opening in Mankato

Boulay, a Twin Cities accounting and consulting firm, is set to open a new office location in Mankato. Design for this new space has already begun, with a projected opening date of early May. The new office will be located in the Landkamer Building at 124 East Walnut Street, Suite 310. “Boulay has strong ties to the Mankato community, as many of our staff members grew up in the area or graduated from the local Colleges and Universities,” Tom Johnson, incoming managing partner, said in a statement. Founded in 1934, today it has over 250 staff including 35 partners and over 115 Certified Public Accountants.

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MN Valley Business • MAY 2022 • 5

Great Explorers

Find Great Opportunities Because being person-centered is at the heart of ever ything MRCI does, our Employment Exploration program has been key in helping those we serve find what they truly want to do. Take Babi for example. Not really sure what skills she had or what she wanted to do with them, she went through the Exploration program. Shortly after graduation she found a job she loves working at Taco Bell. Babi says, “I like Taco Bell and chose Taco Bell because my family worked in fast food for their first jobs, too. The staff are funny and helpful to me. I feel welcome when I am there and I get a hello each day when I arrive for work.” Erin Connell is the MRCI Employment Specialist that works with Babi. “Babi came to me straight from employment exploration and she was hired within weeks of working with me,” says Erin. “This success, and others like it, are because of the great work done by our exploration team. The AWESOME work they do with the clients really comes through!” The Employment Exploration program offers services to assist a person in developing work skills, work habits and job retention skills required to obtain and maintain employment. Training includes activities to: • Ability to work with others • Improve and increase productivity • Ability to work under supervision • Attendance • Work tolerance • Punctuality YOU can help! If you would like to volunteer by sharing of your time and talents with these individuals, or if you are an employer and would like to offer job shadowing opportunities or tours of your business, please call 507-386-5600.

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MRCI provides genuine opportunities for people with disabilities and disadvantages at home, at work and in the community. To become an employment partner, or for more information, please call 507-386-5600.

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Business Commentary

By Dean Swanson

Women-owned businesses share challenges, solutions

want to share what women CEOs have identified as some of their most prominent challenges that they have faced, and how they overcame them as reported by Brett Farmiloe, one of SCORE’s content partners.

Find the right network

Audrey Hutnick, Smallwave Marketing shared this. After hundreds of hours spent at various networking groups, I struggled as a woman to find a community where I felt I truly belonged. Time and again, I was told that I was too young and inexperienced or looked down upon because I was a woman networking in an older man’s world. This challenge disappeared as soon as I found a group called Women Belong. Even the name told me I was in the right place. As soon as I tapped into a community with other strong and empowered female leaders, I knew I was in the right place!

Perfectionism

Beryl Krinsky, B.Komplet reported this. When I started B.Komplete, I was the one doing just about all of the content development, programming, and more. There would be times when I would work on one PowerPoint slide for hours until I realized that no one besides me would notice if the font were “exactly” the proper size or if the shade of the background was a little too bright. When I let go of the idea of perfectionism, I gained massive productivity and business growth. Perfect is boring! And one of my mantras now is, “good enough, move on.”

Work-life Balance

Alisha Taylor, Alisha Taylor Interiors responded. As business leaders, it is often difficult to have a work-life balance. With the added responsibilities of being a wife, mom, and caregiver to our families, there is never enough time in the day. When it comes to business, you have to show up and do your best work every day and support your team in the process. Each day there is so much responsibility on our shoulders that we can’t take for granted. While these roles and responsibilities are a blessing, they ultimately challenge our ability to find and maintain a work-life balance.

Fear of failure

Vanessa Molica, The Lash Professional identified this. Female entrepreneurs face much more scrutiny than males, preying on their confidence and

8 • MAY 2022 • MN Valley Business

amplifying the fear of failure. I believe a fear of failure is natural, but giving in to it is never an option for me. I have too much to do and too many goals to achieve to let this kind of fear paralyze me. Rather than let it rule me, I use my fear of failure as fuel for my continued success.

Don’t be shy, speak up

Katie Lyon, Allegiance Flag Supply said this. Being taken seriously is sometimes a challenge. I’m a blond, Southern woman, so I’m immediately stereotyped before I even utter a word. To overcome this challenge, I entered every business meeting and interviewed prepared. I know my company inside and out, and I’m not afraid to show my expertise. I don’t believe you can be shy if you want to be a successful woman entrepreneur. You have to find your voice and speak up for yourself.

Working in a male-dominated industr y

Saskia Ketz, Mojomox reflected this. I was working at a tech startup with an overwhelming number of male employees, which occasionally brought in an unbalanced spirit. Meetings, communication, and the entire company culture are different when there’s a lot of testosterone on the table. Sometimes that’s fun to watch, but it’s generally rather exhausting. I had the idea of building a women’s group with two other ladies (four, actually, at that time). We mainly discussed our thoughts on how we could have a stronger voice in the company, for example, by bringing in female engineers and promoting more women to leadership positions.

Stereotypical prejudice

Lisa Richards, The Candida Diet identified this. Gender-based stereotypical prejudice, including my team, was one common challenge I faced at the initial stages of my entrepreneurship journey. In those early days, I quickly realized that some employees had a problem with a woman making all the decisions and telling them what to do. Such employees were also prone to misconstruing my intentions or actions and actively sabotaging my efforts. I had employees like this in my team who made the work environment toxic and ineffective. I had to let go of some of these staff members because they refused to change and be better. From this experience, I also learned how to identify and dismiss interviewees who would find it problematic to have a female employer if granted employment. This saved the rest of my staff and me

the trouble of dealing with such people. As a result, we haven’t experienced a problem of this kind since this initial experience.

Funding

Alicia White, Project Petals shared one that many face. A common challenge that I face is accessing funding. The money allocated to women-led founders is abysmal. The funding that is accessible to women of color is even worse. To gain the funding that I need to run my organization. I had to network, build relationships, and join communities that were not only supportive but offered resources.

Dean L. Swanson is a volunteer certified SCORE mentor and former SCORE chapter chair, district director, and regional vice president for the north west region. For information on the local Mankato area SCORE chapter: scmnscore.org

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The Hub in Old Town Mankato has grown in popularity in recent years.

Food truck nation Growth shows no signs of slowing

By Tim Krohn | Photos by Pat Christman and Jackson Forderer

hen Quad Graphics in Waseca closed, it opened a door for Dan and April Miller. “I went to culinary school in the early 2000s and then April and I started working at Quad Graphics. When they closed we jumped in with both feet doing a food truck full time.” Their Evan’s Eatery truck (named after their son) has since crisscrossed southern Minnesota in all months of the year. They are one of a handful of food trucks in the region that operate year round. 10 • MAY 2022 • MN Valley Business

“In the winter we do a lot of wineries, breweries, school events — basically anywhere there are people,” Dan said. When they started four years ago, there were just a few food trucks in the area. “Now there’s so many you can’t keep up with them. They’re popping up in towns all over southern Minnesota.” The explosive growth in food trucks shows no signs of abating. And while the pandemic slammed

Cover Story

April Miller of Evan’s Eatery hands out an order to a customer in the parking lot of Bomgaars in Waseca. April and Daniel Miller have owned the food truck for five years and try to service a 60-mile radius around their hometown New Richland. restaurants, it was a boon for the food truck industry. Greg Traylor started his TNT food truck five years ago and sees no slowdown in more food trucks. “I think it’s a fast and up and coming thing. COVID had a lot to do with it, too, because they could ser ve food outside and do weddings and things and people could distance.” Lacey Lueth, who owns Lola American Bistro in New Ulm and has a food truck, said food trucks are popular business ventures for people who are thinking of getting into the restaurant business. “It’s a way more manageable thing than a full-sized restaurant, and it’s a good place for people to start out.” While some brick and mortar restaurant owners initially pushed back against the opening of the Hub food truck lot in Mankato several years ago, opposition to the trucks has diminished and many restaurants are doing their own food trucks to expand their business. A recent study released by the Institute for Justice looked at 12 years of census data on food

trucks and restaurants and found that an increase in the number of food trucks in one year does not lead to a decrease in the number of restaurants the following year. During the period studied, 2005 to 2016, both the number of restaurants and the number of food trucks per county grew. And while the food truck industry grew at a faster rate, restaurants still vastly outnumber them.

Kansas City experience

Traylor grew up doing barbeque in Kansas City, Missouri, and started grilling and smoking in his grandpa’s backyard. “Possums, squirrels, skunks — whatever came into the yard we’d grill. My grandpa grew up in the Depression and he said, ‘We’re going to use everything from the snooter to the tooter.’” Traylor designed the truck he wanted and it was built in Tennessee. Like Evan’s Eatery, Traylor works year round with his truck. “In the winter I do a lot of breweries. I do appreciate the partnership with breweries. It’s

Greg Traylor, owner of TNT food truck, learned barbeque in Kansas City. He’s in the process of opening a restaurant in Mankato. two small businesses helping each other out,” he said, noting that most breweries offer little or no food. In the summers, food trucks are increasingly in demand for weddings, graduations, corporate events and festivals.

MN Valley Business • MAY 2022 • 11

A double cheeseburger with Jack Daniels bacon jam and truck made chipotle aioli inside the food truck Evan’s Eatery. The food truck, manned by Daniel and April Miller of New Richland, was parked in the parking lot of Bomgaars in Waseca for lunch customers.

Lola, which has a bistro in New Ulm, was one of the first to launch a food truck in the region. Traylor sources his meats from local butchers and stores. “I try to keep it as local as possible.” He and other food truck operators are, like everyone, feeling the pain of higher food prices and some shortages of meats and other products. Traylor will soon achieve another dream — owning a restaurant. “We’ve been renting the Old Town Tavern for almost a year.” While he’s installed one of the biggest free-standing wood smokers in the Midwest outside the back of the tavern, he hasn’t yet been able to open the doors to the inside. “Everything got backed up.

12 • MAY 2022 • MN Valley Business

We’d order things for the restaurant and it would be six months or more. We still can’t put a date on opening because you just don’t know when you’re going to get a lot of things.” While he’s specialized in barbeque in his truck, he will have a wide offering in the TNT Eats restaurant, including cornbread, waffles, wings, hash and other items.

Evan’s Eater y

The Millers designed their own truck and also had it built in Tennessee. While many truck operators hope to someday open restaurants, the Millers don’t.

“We didn’t want to get into restaurants. We enjoy traveling and seeing new places and faces. We enjoy the nomad life,” Dan said. Based in New Richland, they travel from western Minnesota to Rochester and the Twin Cities to the Iowa border. Evan’s Eatery is strictly a burger shop. “Our best seller is the Jack Daniels Bacon with our chipotle aioli sauce.” They get all of their burger meat from the local butcher in New Richland. “They grind it fresh every day. We try to keep as much as possible local,” Dan said. They’re out three to five days a week in the summer and two to three days a week in the winter. Dan said they’ve built up a fan base that ensures they get business when they return to a town no matter what the weather or temperature is. “It can be zero or rainy and people still come out to us.”

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Lola’s truck

Lueth was one of the first to have a food truck in south-central Minnesota, starting in 2014. “We had the restaurant and events and catering and added the truck for something fun to do.” She advises anyone who wants to start a truck to keep it simple. “If I did it again, I’d keep it simpler. Offer five things instead of 12.” And while she has a licensed kitchen in the bistro to do the truck prep, others would need to find a licensed facility to do their prep in. They were using the truck about three days a week, but Lueth said she’s had to reduce the number of outings because of difficulty with staffing. “We do mostly festivals, get hired to do graduation parties, groom dinners and weddings. We get a lot of requests for small town festivals, we get a lot of requests for that. And bigger corporations like to have the truck come to their site for employees.” While she switches up her menu offerings, she sticks with two customer favorites: the Hot Mess and rosemary garlic fries. MV

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MN Valley Business • MAY 2022 • 13

Aaron Jones, left, and Matt Long are reflected in the mirror in their expanded showroom.

Fashion forward

J. Longs remodels, expands showroom By Jane Turpin Moore Photos by Pat Christman

“The fun part comes from all the wonderful t the modern lifestyle shop that is J. people we serve—that’s what makes it worth Longs, team members have a singular it.” goal: providing what it takes for their With an optimal customers to look good customer experience in and live well. mind, the J. Longs crew “Selling clothing may recently completed a not seem like liferemodeling project in changing work, but it’s a J LONGS blessing to be able to their store at 1640 1640 Madison Avenue Madison Ave., where they help our customers and Manakato have been located since make their lives easier,” 507-345-8885 said Aaron Jones, one of September 2017. jlongs.com four J. Longs partners “Our fifth anniversary (along with Matt Long, here is approaching, and Jim Long and Judy Long). it’s been an amazing

Spotlight

14 • MAY 2022 • MN Valley Business

location for us,” said Jones. Due to their growing business, J. Longs opted to reconfigure multiple walls and repositioned the tailor shop to gain an extra 1,000 square feet of showroom area along with an expanded customer service counter. In the process, they improved lighting throughout the space and created a “men’s zone” for suits, sport coats and accoutrements, with added dressing rooms to boot. The latter were necessar y because, since they began offering suit purchase packages 12 years ago (in lieu of renting tuxedos/ suits), J. Longs now outfits about 250 wedding parties annually. That’s in addition to the continual traffic they see from business professionals and other men seeking suits for funerals, formal events, proms and similar occasions. “There are not a lot of places in the area to find good suits, and we wanted to have a dedicated space for that,” said Jones. “We house the biggest selection of suits and sport coats south of the metro, and our service and selection are on par with a lot of the big players in the Cities.” Suits and professional menswear may be at the roots of J. Longs’ origin story, but in recent years the business has spread its wings. Today, a wide range of women’s clothing—from athleisure to business wear—is also in stock, as are casual wardrobe items for men. A large selection of lifestyle shop products are part of the store’s current business model, too.

Looking back

In 1985, Jim and Judy Long moved to Mankato and opened a Knight’s Chamber store in the Madison East Mall. When the River Hills Mall was built, the Longs traveled a couple miles east with their array of suits, sport coats, belts, shoes, ties, slacks and more. By 2005, they decided to rebrand the business, choosing the name “J. Longs” for obvious reasons. When moving to a new, larger location within River Hills Mall a few years later, the Longs added women’s clothing to the men’s options—but that was 2009. “It was definitely a great idea and

Matt Long in the renovated showroom at J Longs. a beautiful store, but it was too big for that difficult economic period,” said Jones. He and Matt Long bought into the business around that time. J. Longs was one of the last family-owned and operated stores to depart River Hills Mall, with rising rents being a factor. Instead, the J. Longs group signed a seven-year lease for a storefront with a slightly smaller footprint across Adams Street in the River Place Center and, for those years, eliminated their women’s stock. Since purchasing the Madison Avenue building, the partners have created a pleasant industrialmodern retail store they’ve delighted in making their own. “We’re really happy with it,” said Jones. They’re not alone. Customers like Mankatoan Brent Busch, vice president of PrimeSource Funding, has been a J. Longs devotee since the shop’s River Hills Mall days—but he loves the new spot. “The free-standing store is great,” said Busch. “It’s easy to get in and out of, and that makes it easier than ever to shop.” Matt Long assures that J. Longs will continue to respond to market demands and evolving customer needs long after their recent building update is in the rear-view mirror. “The renovation itself is done, but we’re not sitting back to rest on

our laurels,” said Long.

Trial by COVID

Although their business has been, according to Long, growing “by leaps and bounds” in recent years, that’s not to say the pandemic left J. Longs unscathed. With so many people working remotely—some dressed in pajamas or sweatpants—the demand for business wear and seasonally updated wardrobes temporarily went by the wayside. And since J. Longs was declared a non-essential business, the shop endured a shutdown period. Luckily for J. Longs, the partners had begun a product pivot in late 2019, opting to add women’s clothing, shoes and general lifestyle products while amping up their offerings in men’s leisure wear. “We made that pivot at just the right time,” said Jones. Shortly before the pandemic, they were approved to carry several hot brands including Lululemon, Spanx, Vuori and Alo yoga wear. “We’re the only local place you can find Lululemon products,” said Jones. “And women love Vuori, Alo and Spanx, which has great work pants besides shape wear.” Jones said their addition of athleisure plus lifestyle items was a “big blessing” they could never have anticipated. “Even during the shutdown, Matt and I showed up every day,” said Jones. “We were making calls,

MN Valley Business • MAY 2022 • 15

The women’s clothing and accessories area at J Longs. delivering packages to doorsteps, because people were ordering joggers, leggings, hoodies, quarterzips, soft t-shirts and some candles and gift items,” Jones said. “We survived doing that.” Jones points out that J. Longs is newly positioned to take customers through the workweek to the weekend to blacktie formal events, while simultaneously making it

convenient to shop for birthdays, anniversaries, hostess gifts or gift baskets. Premium products like coffee, Compartes chocolates (“They’re a famous California chocolatier with awesome treats that include specialty chunks of donuts and potato chips—super good,” Jones endorsed), Fulton + Roark solid colognes (“Those are great for guys

who travel because they can take scents with them and not worry about TSA liquid ounce guidelines,” Jones observed) and candles are all in the mix. J. Longs proudly carries popular clothing brands such as the German BRAX, Greyson Clothiers and Mizzen + Main. “Mizzen + Main is the numberone selling shirt line,” said Jones, mentioning that pro athletes like Phil Mickelson and Kyler Murray are M + M endorsers. “They have short- and longsleeve button-ups that are wrinkle resistant, and their four-way stretch dress shirts are almost like wearing Nike or UnderArmour but in a dress shirt,” Jones said. J. Longs’ women’s inventory, managed by Brianna Long, is fashion-forward both in professional looks and casual moments. “We carry everything from casual to dressy for the ladies— blazers, slacks, dresses, denim, shoes and sandals,” listed Jones. Added Long, who is the store’s main buyer, “We don’t want to be stale but we will be true to our core.”

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16 • MAY 2022 • MN Valley Business

The trust between Long and Jones dates to their days as misfit cross country runners at Mankato West High School. As Jones recalls it, he was a ninth grader and Long was an up-andcoming eighth grader when the two first became friends. “When we were younger, we always talked about opening a sports bar together,” said Long. “We thought that would be so cool—but this has actually worked out better.” Both are frank that it took time, trial and error to figure out whose skills fit better in which roles. “The key is communication,” said Long. “There’s nothing we’re not willing to talk about with each other, and sometimes that’s the tough stuff, but whatever the situation is, we can usually put aside the emotions and come to the best solution.” Fortunately, they agree on the most important things: treating their 15 employees like the valued team members they are and excelling at customer service.

“The experience is huge for us,” said Jones. “When someone walks in the door, we want them to know they’re important to us, to be greeted and to have a genuine interest shown in them and their needs.’’ “I really do believe that is our ‘secret sauce.’” That’s an area in which Jim Long definitely lead the way. “The first thing my dad had me do was take out the trash because he said I had to know the store from the back to the front,” said Long. “And he told me the biggest thing was to take care of the customer.” J. Longs serves people from throughout the Mankato area, but regular customers also hail from points up to 90 minutes away, coming from northern Iowa, the Twin Cities and deep southwestern Minnesota. “And we have some who have moved to other parts of the country who trust us enough to keep shopping for them and sending them items,” said Long. “They want we provide and that makes our day, because making a connection with our customers is what we like doing.” Local regular Busch affirms that the J. Longs staff aren’t pushy salespeople but are suggestive and helpful. At this point, Busch estimates 95% of his wardrobe items come from J. Longs. “I trust them,” said Busch. “They make sure I look good and that things fit well, and I know I can rely on them. “I spend most days in my professional gear, but they have some pretty fantastic casual stuff too,” he continued. “Basically, they push me outside my comfort zone but keep me inside my professional zone.” Such comments are music to the ears of Long and Jones, who enjoy serving customers at whatever level they need. “We treat everyone with respect, take them seriously and educate them about the options,” said Long. “We’re here to suggest things and offer solutions—and when you walk out of our store, we want you to be happy.” MV

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MN Valley Business • MAY 2022 • 17

Mark Plotz, owner of the Smallest Cog in St. Peter, with a cargo bike made in Copenhagen.

The Smallest Cog New bike shop opens in St. Peter

By Dana Melius | Photos by Pat Christmn

t age 10, Mark Plotz loved biking to Hoover bikes and that cleanest and quietest form of Elementary School in North Mankato, the rack transportation never lost his soul. A political science nearly always full. Three decades later, his degree from Gustavus Adolphus College sparked a ongoing love for two-wheel commitment to public policy. After transportation prompted Plotz to two AmeriCorps terms, Plotz open a downtown St. Peter bicycle followed it with a master’s in public shop, The Smallest Cog, in October administration from Minnesota 2020. THE SMALLEST COG State University, Mankato. “I have memories of that bike From there, it was Washington, 115 S. Minnesota Avenue rack being completely full,” Plotz D.C. and a 20-year career as a St. Peter says. “That’s one of the things that’s community planner. 507-931-0815 really changed. And that’s a “I wanted to explore the nonprofit thesmallestcog.com shame…Biking is not normalized world and wanted to leave anymore.” Minnesota,” Plotz recalled, then Plotz would like to change that, combining his joked: “At some point, you have to grow up.” enthusiasm for biking with his planning experience From 2008 to 2016, Plotz came to love his home in and making communities more bicycle friendly. But the Mount Pleasant neighborhood of Washington, his journey back to the Minnesota River Valley and D.C., with its mix of diversity and young, educated small business owner was far from conventional. professionals. And its pedestrian and bicycle friendly The 1993 Mankato West High School graduate sidewalks and trails were safe and user-friendly. veered off the path from time to time, but his love for “It’s a really cool city,” Plotz said in a recent interview 18 • MAY 2022 • MN Valley Business

Profile

Mark Plotz was formerly a community planner, but a weekend job in a bike shop turned into the best job he ever had. at his St. Peter bicycle shop at 115 Minnesota Street. “We had the only street in all D.C. where everything worked perfectly.” That was the planner in him. “I was driving my car maybe once a month,” Plotz said. “I biked and walked everywhere.” Still, “it was never a plan to stay” in D.C., he noted, and two events shaped his future plans. While working a regular five-day week as a community planner, Plotz was offered a weekend job at the Bicycle Pro Shop in the Georgetown neighborhood, where he had been a frequent customer. Working as a bike mechanic, it blossomed into “the best job I ever had.” “I found it to be a much more fulfilling job than urban planning,” Plotz said. It was a “successful” 2015 OkCupid date that helped launch his next venture, a marriage to Amanda Malkin, a Philadelphia native. And while Amanda was from “one of those old East Coast families,” the high cost of living convinced them to try a move back to Minnesota in March 2018. The Smallest Cog Bicycle Shop became a reality first in downtown St. Paul. The corner storefront location seemed perfect, with a microbrewery and popular pizza place nearby, and light rail public transportation close. “As far as urban planning goes, it was a dream,” Plotz said. “It was a neighborhood that worked.” Plotz said this “self-financed” venture allowed him to settle in as an independent bike shop and

grow nicely in those first couple years in St. Paul. “We really had our feet under us in 2018,” Plotz said. “And we more than doubled our gross in 2020.” But the birth of twin daughters, coupled with vandalism to his downtown St. Paul shop and theft of an expensive bicycle, prompted a serious look by the couple for a move. “It became pretty clear that the owner-operator concept (in St. Paul) wouldn’t work,” Plotz said. Wife Amanda Malkin brings a unique talent of her own to the region, launching an art conservation business. Plotz said his wife might be one of the few in southern Minnesota. But she also contributes mightily to The Smallest Cog, he added, serving as co-owner and manager. “Amanda watches our and makes sure we are in compliance with state and local laws,” Plotz said. “She is the creative force in our business. And as someone relatively new to bicycling and is a foot shorter than me, she is my bridge to people whose biking experience is often vastly different than my own.”

Back to the Greater Mankato area

Why St. Peter? “I went to Gustavus. I knew St. Peter didn’t have a bike shop,” Plotz said. “And the city welcomed us.” Ed Lee, executive director of the St. Peter Chamber of Commerce and a bicycle

enthusiast, said The Smallest Cog is a great addition to the historic downtown district. “We love businesses that generate foot traffic along the sidewalks of our downtown,” Lee said. “The Smallest Cog is all about that, inviting pedestrians who are curious about recreating or even commuting on two wheels.” And for Lee, who often takes a bicycle trip into the Twin Cities area or regional tourist attractions, adding a top-flight bike shop and experienced bike mechanic to the community should help grow a more bike-friendly community here. And there’s a ripple effect for other businesses, he added. “Unique venues make a destination like St. Peter more attractive to more people,” Lee said. “A visitor might come here intending to shop only at the bike shop, but we all know what happens. The visitor winds up popping into several venues of interest, spreading word about how cool St. Peter is, and then coming back at various times during the year.” But it’s Lee’s love of bikes that also excites him about the addition of The Smallest Cog Bicycle Shop. “We all have a connection to bicycles because as kids, bikes were our transportation,” Lee said. “As adults, we discover bicycles are even more fun than they were as kids.” Plotz hopes to help shape a more bike-friendly community in St. Peter, although he adds city officials have “done a good job” designing user-friendly trails and sidewalks. The Plotz and Malkin family live in the Nicollet Meadows neighborhood, with a good mix of sidewalks and an underpass which allows for safe strolls to local schools and childcare facilities. “Sidewalks need to be thought of not as amenities but as important infrastructure,” Plotz stressed. He’s also taking that planning expertise into a new volunteer role, joining the city’s Planning and Zoning Commission. “And I love current events,” Plotz said. “I’m progressive and not running away from it.” MV

MN Valley Business • MAY 2022 • 19

Jon and Kelly Jamieson are opening a second location for their JP Fitness.

Expanding options JP Fitness opening second location Katie Roiger Photos by Pat Christman

2017. His initial conversation with owner hen you want to start a fitness Jon Jamieson won him over, as did the regimen, gain increased variety of equipment offered and the flexibility, or sign up for a gym’s overall marathon, many cleanliness. residents of Mankato “I would literally eat say that you can’t go off the floor and have wrong turning to JP no problems with it,” Fitness. JP FITNESS Hagen said. “It’s Tom Hagen has been 1400 Madison Ave., Suite 50, pristine.” a member of JP Fitness Mankato A frequent gym almost since the gym 507-594-9550 and training facility attendee, Hagen also jpfitnessmn.com opened in January of praised the individual

Feature

20 • MAY 2022 • MN Valley Business

Trainer Mason Holecek works with Ben Kaus at JP Fitness. JP focuses on individualized fitness plans with members. attention that Jamieson and his staff of 14 trainers and fitness professionals offer. Unlike a typical fitness chain, JP Fitness focuses on working with clients one-on-one in order to fine-tune a personalized program that will help each person work toward his or her wellness goals. In 2021, Hagen decided to register for a half IronMan to check an ambition off of his bucket list. He said that Jamieson personally put together a workable fitness program to get him ready for the grueling triathlon. “We wanted to offer more of a personalized experience,” Jamieson said about JP Fitness’s business model. “I like this setting because people for the most part are still capable of pushing their limits and can also kind of change their habits to help influence a healthier lifestyle for themselves.”

A second location

Since 2017, the number of JP Fitness’s members has increased to the point where

its team has decided to open a second satellite location in Mankato. Jamieson purchased the former Anytime Fitness building at 1751 North Victory Drive and has been hard at work preparing it for its soft opening in mid-May. The new JP Fitness: 24/7 is meant to mesh with the services offered at its parent site. As its name implies, the new studio will have a totalaccess schedule. Members can enter anytime to work out at their own pace. Although being signed up at the original gym isn’t a prerequisite for using the new location, JP Fitness will be a convenient spot for JP Fitness members to put the personalized training they’ve received to good use. “I live in the area, so I’m extremely excited to go there,” Hagen said, adding that he’s looking forward to fitting in a few quick workouts during lunch breaks and other pockets of free time. “It’s easy to get to Madison East, but this is literally across the street (from home).” Jamieson’s wife Kelly, JP

Fitness 24/7’s manager, said that location was a primary factor in choosing the new site. “There’s a great community (near the new site) with lots of young professionals, families, and even older adults, and for them it’s super important that they have convenience in their workout,” Kelly said. “I have kids and I know what it’s like to be busy, so if it (a gym) is not close by, it becomes something that’s not a priority in your life.” The new center will be stocked with a wide range of equipment to meet the needs of its members. In addition to isolated strength equipment, visitors will find treadmills, climbing mills, stair steppers, exercise bikes, ellipticals and more. “We’ll have a couple of pieces that are unique to Mankato and also to our Madison East location,” said Jamieson. “They’ll complement each other well.” In addition to machines, JP Fitness 24/7 will provide other amenities. Towel service will be included in the membership fee, and fitness enthusiasts can relax in the on-site tanning room after their workouts. In contrast to its parent gym’s focus on guided training, the satellite studio’s workouts will be exclusively self-driven. Kelly is currently slated to be the sole staff member on site and will be available to meet with new members, answer questions, and provide resources. For Jamieson, seeing community members commit to living healthier lifestyles by frequenting a workout facility is a reward in and of itself. The new location will be another tool to help his fellow Mankato residents live active lives on their own terms. “You always hear about regulars of a restaurant or regulars of a bar, and, in my opinion, being regulars of a gym is impor tant for ever yone’s health,” said Jamieson. MV

MN Valley Business • MAY 2022 • 21

■

Business and Industry Trends

Energy Fewer struggled with energy bills in 2020

In 2020, 34 million U.S. households (27% of all U.S. households) reported difficulty paying energy bills or reported that they had kept their home at an unsafe temperature because of energy cost concerns. That’s lower than the 37 million who struggled in 2015. The Residential Energy Consumption Survey measures household energy insecurity by asking a series of questions about challenges paying energy bills or conditions of unsafe temperatures attributable to energy cost concerns. In 2020, because of the pandemic, many states provided extra aid or other programs for people to manage energy costs. In addition to the overall

22 • MAY 2022 • MN Valley Business

reduction in U.S. household energy insecurity between 2015 and 2020, fewer households reported each of the components of energy insecurity as well. The largest reduction in a single component between 2015 and 2020 was in the percentage of households that reported receiving a disconnection notice, which decreased from 14% in 2015 to 10% in 2020. The survey also captured how often these households dealt with particular energy challenges over the previous 12 months: almost every month, some months, 1 or 2 months, or never. Households receiving disconnection notices were more likely to experience that form of energy insecurity for only 1 or 2 months, while the other forms of energy insecurity were reported more frequently. Households were also asked if they were unable to use their heating or air-conditioning equipment because the equipment was broken and they could not

afford to have it fixed or because they could not afford fuel. Five million households reported that they were unable to use their heating equipment, and 6 million reported that they were unable to use their air-conditioning. In 2020, 1.4 million households (1%) reported that someone in the household needed medical attention because their home was kept at an unsafe temperature.

Renewable energy to rise

The Energy Information Administration forecasts that the annual share of U.S. electricity generation from renewable energy sources will rise from 20% in 2021, to 22% in 2022, and to 24% in 2023, as a result of continuing increases in solar and wind generating capacity. This increase in renewables generation leads to an expected decline in natural gas generation,

which falls from a 37% share in 2021, to 36% in 2022, and to 35% in 2023. Natural gas generation falls in the forecast even though we expect the cost of natural gas for power generation to fall from $4.97/MMBtu in 2021, to $4.16/ MMBtu in 2022, and to $3.80/MMBtu in 2023. Increasing renewable generation also contributes to a forecast that the share of generation from coal will fall from 23% in 2021 to 22% in 2022 and 21% in 2023. Nuclear generation remains relatively constant in the forecast at an average share of 20%.

Wind, solar capacity growing

Planned additions to U.S. wind and solar capacity in 2022 and 2023 increase electricity generation from those sources in our forecast. The U.S. electric power sector added 14 gigawatts of new wind capacity in 2021. We expect 10 GW of new wind capacity will come online in 2022 and 5 GW in 2023. Utility-scale solar capacity rose by 13 GW in 2021. Our forecast for added utility-scale solar capacity is 22 GW for 2022 and 24 GW for 2023. The agency expects solar additions to account for nearly half of new electric generating capacity in 2022. In addition, in 2021, small-scale solar capacity (systems less than 1 megawatt) increased by 5.4 GW to 33 GW. They project that small-scale solar capacity will grow by 4.0 GW in 2022 and 4.3 GW in 2023.

Coal production increases

U.S. coal production is expected to increase by more than 25 million short tons (4%) in 2022 to 604 MMst and then rise by 9 MMst (1%) in 2023. Although labor strikes at some metallurgical mines in Appalachia continue to affect production, producers should regain a portion of that production later during early 2022. Increased production of coal will help support rising export demand as well as help replenish coal inventories at power plants that were depleted during 2021.

U.S. coal consumption shrinks

Retail/Consumer Spending Vehicle Sales Mankato — Number of vehicles sold - 2021 - 2022 1500

955 1,008

1200 900 600 300 0

Source: Sales tax figures, City of Mankato Includes restaurants, bars, telecommunications and general merchandise store sales. Excludes most clothing, grocery store sales.

Sales tax collections Mankato (In thousands)

- 2021 - 2022 $388,522 $445,000

600 500 400 300 200 100 0

Source: Sales tax figures, City of Mankato

Lodging tax collections Mankato/North Mankato

- 2021 - 2022

70000

$18,146 $40,180

52500

U.S. coal consumption will decrease by 7 MMst in 2022 and by 15 MMst in 2023. In both forecast years, declining consumption from the electric power sector is somewhat offset by rising consumption at coke plants. Coal exports forecast total 88 MMst in 2022, up 3% from 2021, and 91 MMst in 2023. International prices will remain supportive of U.S. coal exports as the conflict in Ukraine disrupts supplies from that region.

35000

CO2 emission increasing

175000

17500 0

Source: City of Mankato

Mankato food and beverage tax - 2021 - 2022

U.S. energy-related carbon dioxide (CO2) emissions increased by nearly 7% in 2021 as economic activity increased and contributed to rising energy use. There is expected to be a 2% increase in energy-related CO2 emissions in 2022.

140000

$62,554

105000

$46,325

70000 35000 0

Source: City of Mankato

C. Sankey

MN Valley Business • MAY 2022 • 23

■

Agricultural Outlook

By Kent Thiesse

Farm income levels increase in 2021

he University of Minnesota recently reported that the average net farm income for Southern Minnesota farmers in 2021 was $280,900, which was at the highest level since 2012. The very positive 2020 and 2021 net farm income levels followed seven years (2013-2019) in a row of sup-par net farm income levels in the region. The 2021 net farm income levels in Southern and West Central Minnesota were enhanced by robust crop profits that resulted from average to above average crop yields and the highest grain market prices since 2013. Livestock profit margins in 2021 in Southern Minnesota were mainly positive; however, the profit levels were at much more modest levels than the crop profits.

The Farm Business Management (FBM) Summary for Southern and West Central Minnesota is prepared by the Farm Business Management Instructors. This summary includes an analysis of the farm business records from farm businesses of all types and sizes in Southern and Western Minnesota. This annual farm business summary is probably one of the “best gauges” of the profitability and financial health of farm businesses in the region on an annual basis. Following are some of the key points and data that were in the 2021 FBM Summary:

5-YEAR FARM BUSINESS MANAGEMENT COMPARISON (Data from the 2021 Southern Minnesota Farm Business Management Annual Report)

Farm Income Data 2017 Gross Farm Sales $774,349 Total Farm Cash Expense $680,554 Median Net Farm Income $25,337 Top 20% Med. Net Farm Inc. $199,320 Low 20% Med. Net Farm Inc. ($61,158) Financial Ratios (Ave.) Operating Profit Margin 5.8% Current Ratio 157% Working Cap./Gross Inc. Ratio 25.6% Farm Debt/Asset Ratio 45% Term Debt Coverage Ratio 102% Crop Data --- Corn (Cash Rent Land) Yield/Acre 215 Price/Bushel $3.24 Gross Revenue/Acre $711.55 Direct & Overhead. Costs/A. $748.29 Cost/Bushel Produced $3.48 Net Return/Acre ($36.75) Crop Data --- Soybeans (Cash Rent Land) Yield/Acre 55 Price/Bushel $9.25 Gross Revenue/Acre (*) $526.85 Direct & Overhead Costs/A. $498.74 Cost/Bushel Produced $9.02 Net Return/Acre +$28.11 Livestock Data --- Net Return Over Expenses Dairy – Per Cow +$343 Beef Cow – Per Cow ($19) Beef Finishing–Per Cwt. +$21.44 Hog Finishing–Per Cwt. +$5.64

2018 $759,254 $675,400 $20,655 $158,785 ($79,757)

2019 $771,105 $675,013 $36,547 $242,696 ($43,183)

2020 $830,344 $700,336 $102,848 $401,000 $369

2021 $967,436 $790,104 $176,426 $620,578 $12,706

3.2% 51% 23.2% 49% 91%

10.1% 156% 23.8% 46% 148%

20.6% 198% 32.6% 44% 274%

27.5% 247% 41.3% 44% 389%

179 $3.48 $674.25 $731.51 $4.08 ($57.26)

183 $3.75 $789.72 $745.92 $4.08 +$43.80

206 $4.04 $896.62 $735.65 $3.58 +$160.97

203 $5.36 $1,107.53 $791.94 $3.90 $315.59

54 $8.73 $588.80 $495.13 $9.17 +$93.11

51 $8.82 $538.87 $498.27 $9.71 +$40.60

60 $10.21 $664.06 $497.51 $8.32 +$166.65

61 $12.50 $767.12 $536.18 $8.83 $230.94

($38) ($54) ($4.19) ($4.01)

+$403 ($223) +$1.47 +$2.53

+$964 ($29) +$8.03 +$8.69

$208 ($166) +$3.53 +$6.79

NOTES : Net Returns for crops and livestock are before labor & management charges. Crop net returns include crop insurance and government farm program payments. (*) Note --- The Gross Revenue per Acre for 2019 and 2020 includes fairly high levels of one-time government farm program payments. *** Table was developed by Kent Thiesse, Farm Management Analyst ***

24 • MAY 2022 • MN Valley Business

BACKGROUND DATA

• The “Net Farm Income” is the return to labor and management, after crop and livestock inventory adjustments, capital adjustments, depreciation, etc. have been accounted for. This is the amount that remains for family living, nonfarm capital purchases, income tax payments, and for principal payments on farm real estate and term loans. • The “median” net farm income is the midpoint net farm income of all farm operations included in the FBM Summary, meaning that half of the farms have a higher net farm income and half have a lower net income. The average median net farm income in 2021 was +$176,426. • A total of 1,584 farms from throughout South Central, Southwest, Southeast, and West Central Minnesota were included in the 2021 FBM Summary. The average farm size was 659 acres. The top 20 percent net income farms averaged 1,611 acres, while the bottom 20 percent net income farms had 180 acres. • 59 percent of the farm operations were cash crop farms, 14 percent were single entity livestock operations, with the balance being various combinations of crop, livestock, and other enterprises. • 410 farms (26%) were under $250,000 in gross farm sales in 2021; 326 farms (21%) were between $250,000 and $500,000 8 in gross sales; 399 farms (25%) were between $500,000 and $1 million in gross sales; and 449 farms (28%) were above $1 6 in gross sales. million • In 2021, the average farm business received $58,196 in 4 government program payments, which included two rounds of CFAP payments for crop and livestock producers, some WHIP+ 2 crop disaster payments for 2019, CRP payments and other government payments. In addition, the average farm operation received $8,377 in crop insurance payments, 0 J Fabout M half A of M the J 2020 J level A Sof crop O Ninsurance D which was payments. The combination of one-time Covid relief payments and crop disaster payments, together with regular farm program payments and crop insurance payments, accounted for approximately 23 percent of the 2021 average 8 net farm income. This compared to 2020, when government 125 payments and crop insurance payments totaled over $126,000 6 and 105made up about 74 percent of the average Net Farm Income. 4 • The85average family living expense in 2021 was $66,335, which increased slightly compared to recent years. The 2 65 average non-farm income in 2021 was $46,943, which represents about 45 percent of total annual non-farm 45 0 expenses J byF families M A forMfamily J living J AandS other O uses. N D • In 2021, 25 the average farm business spent $1,109,001 for farm F M expenses, A M J capital J A purchases, S O NandD nonbusinessJ operating farm expenses. Most of these dollars were spent in local communities across the region, helping support the area’s overall economy. 125

FARM FINANCIAL ANALYSIS

(Note105 --- Please refer to the attached Table for a 5-year (20172021) 85 comparison of various average farm financial data, as well as average crop and livestock data. • The 65 average net farm income for Southern and West Central Minnesota for 2021 was $280,900, while the median net farm 45 for the region was $176,426. This compares to income median net farm income levels of $102,848 in 2020, $36,547 25 F Min 2018, A M $25,377 J J inA2017, S and O $33,071 N D in in 2019, J$20,655 2016. • As usual, there was large variation in median farm income in 2021, with top 20 percent profitability farms averaging a net

Agriculture/ Agribusiness Corn prices — southern Minnesota

(dollars per bushel)

— 2021 — 2022

$7.42

$7.34

2 0

Source: USDA

Soybean prices — southern Minnesota — 2021 — 2022 8 20 125 16 6 105 12 4 85

(dollars per bushel)

$16.10

$15.92 8 65 2 4 45 0 0 J F M A M J J A S O N D 25 J F M A M J J A S O N D J F M A M J J A S O N D Source: USDA

Iowa-Minnesota hog prices

185 pound carcass, negotiated price, weighted average

— 2021 — 2022

20 $121.37 125 25 16 105 22 12 85 $100.28 19 8 65 16 4 45 13 0 J F M A M J 25 10 J F M A M J J F M A M J Source: USDA

Milk prices

25 22 19 16 13

J A S O N D J A S O N D J A S O N D Minimum prices, class 1 milk Dollars per hundredweight

— 2021 — 2022 25 22

$22.45

19 16

$15.56

13 10

20 25 16 22 12 19 8 16 4 13 0 J 10

Source: USDA. Based on federal milk orders. Corn and soybean prices are for rail delivery points in Southern Minnesota. Milk prices are for Upper Midwest points.

C. Sankey

MN Valley Business • MAY 2022 • 25

Construction/Real Estate Residential building permits Mankato - 2020 - 2021 (in millions)

Commercial building permits Mankato - 2020 - 2021 (in millions)

$5,097,938 $1,684,958

12000000

25000000

10000000

20000000

8000000 6000000 4000000

10000000

2000000

5000000

$1,416,247

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

Existing home sales: Mankato region - 2020 - 2021 (in thousands)

183

300

Median home sale price: Mankato region - 2020 - 2021 (in thousands)

$220,000

300

163

240

$190,000

240 180

180

120

0 J

Source: Realtors Association of Southern Minnesota

- 2020 - 2021

4.3

3.7

4.7%

4.9

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

Housing starts: Mankato/North Mankato

— 2020 — 2021

5.5

Source: Realtor Association of Southern Minnesota

Interest Rates: 30-year fixed-rate mortgage

3.2%

3.1 2.5

Source: City of Mankato

$7,950,495

15000000

8 J

Source: Freddie Mac

Read us online!

CONSTRUCTION MANAGEMENT GENERAL CONTRACTING DESIGN-BUILD (507) 387-1667

WEBCONMANKATO.COM

26 • MAY 2022 • MN Valley Business

Source: Cities of Mankato/North Mankato

TRIFECTA TRUCK STOP

farm income of +$620,678, and the low 20 percent profitability farms with an average net farm income of only +$12,706. • The variation in median net farm income in 2021 also tracked very closely with the gross farm receipts of farms. Farms with $1 to $2 million in gross receipts had a median net farm income of +$401,268, compared to +$243,803 for farms with a gross of $500,000 to $1 million, +$136,300 for farms with a gross of $250,000 to $500,000, and +$65,398 for farms with a gross of $100,00 to $250,000. Interestingly, when you look at profit margin, the order is reversed, with the $100,000 to $250,000 group at 39 percent profit margin, the $250,000 to $500,000 group at 36% profit margin, the $500,000 to $1 million group at 29% profit margin, and the $1 to $2 million group at 27% profit margin. • The average farm business showed a significant improvements in the working capital in 2021, compared to 2020, with a large increase in average working capital ($454,239 from $295,493), a significant increase in the current ratio (247% from 198%), and a large increase in the working capital to gross revenue ratio (41% from 32%) The working capital had declined significantly and was a major concern for many farm operations prior to 2020, before showing significant improvement in both 2020 and 2021. • Another measure of the “financial health” of a farm operation is the “term debt coverage ratio”, which measures the ability of farm operations to generate adequate net farm income to cover the principal and interest payments on existing real estate and term loans. If that ratio falls below 100%, it results in farm operators having to use to use working capital or nonfarm income sources to cover the difference. The average term debt coverage ratio for 2021 was at the healthy level of 389%, which compares to average ratios 274% in 2020, 148% in

Gas Prices 5

Gas prices-Mankato

— 2021 — 2022

54 43 $3.79

32 21 10 0

$2.65

BOTTOM LINE

Overall, net returns from both crop and livestock operations were much improved for most farm operators in 2021; however, as usual there was a wide variation in farm profit levels from the top one-third of net farm income operations as compared to other farms. The overall average financial health of many farm businesses improved significantly in 2020 and 2021, after declining for several years due to low profit levels. Farm profit levels remain favorable for 2021; however, there are some “caution flags” on the horizon. These include rapidly increasing input expenses and land costs, potential future declines in grain and livestock market prices, and likely lower levels of government payments. Complete farm management results are available through the University of Minnesota Center for Farm Management FINBIN Program at: http://www.finbin.umn.edu/ Kent Thiesse is farm management analyst and senior vice president, MinnStar Bank, Lake Crystal. 507-381-7960); kent.thiesse@minnstarbank.com

Stocks of local interest

March 9

April 8

Percent change

Archer Daniels

$81.25

$95.25

+17.2%

Ameriprise

$277.65

$293.04

+5.5%

Best Buy

$101.33

$93.36

-7.9%

Brookfield Property

$23.10

$21.12

-8.6%

Crown Cork & Seal

$119.07

$121.56

+2.1%

Consolidated Comm.

$5.63

$6.10

+8.3%

Fastenal

$54.60

$57.69

+5.7%

General Mills

$65.13

$70.17

+7.7%

Itron

$48.73

$51.02

+4.7%

Johnson Outdoors

$81.25

$77.67

-4.4%

$148.83

$149.81

+0.7%

Target

$215.56

$233.34

+8.2%

U.S. Bancorp

$64.63

$52.25

-4.4%

Winland

$3.60

$3.90

+8.3%

Xcel

$69.94

$74.82

+7.0%

Gas prices-Minnesota

— 2021 — 2022

5 $3.69

54 43 32

$2.79

21 10

2019, 91% in 2018, 102% in 2017, and 90% in 2016. However, the low 20 percent profitability farms had a term debt coverage ratio of only 109% in 2021. • Any additional cash flow dollars over and above the term debt principal and interest payments that are earned by farm operation are available for machinery replacement or other capital improvements. In 2021, the average farm had $218,132 available for those purposes, while top 20 percent profitability farms had over $675,000 available. This helps explain the strong demand for new and used farm machinery, plans for grain system improvements, and other farm and non-farm upgrades that has occurred in recent months.

0Source: GasBuddy.com J F M A

C. Sankey

MN Valley Business • MAY 2022 • 27

■

Minnesota Business Updates luxury brands carried on ThredUp, curated by Target. This is not the first time Target has teamed up with ThredUp, an online consignment and thrift store. Target launched — and then shut down — an approximately sixmonth test in 2015. It allowed shoppers to get Target credit for gently used items that ThredUp was willing to resell. A Target spokeswoman said the company decided to partner again with ThredUp to tap into customers’ interest in value and sustainability. Target’s new webpage on ThredUp’s website is labeled as a beta test. It includes about 400,000 pieces priced at up to 90% off.

■ Short on Pillsbury dough General Mills is struggling to meet demand for its Pillbury refrigerated dough or Totino’s pizza rolls. Typically, General Mills likes to be able to meet customer demand 98% to 99% of the time. In other words, when shoppers go hunting for Totino’s or other brands, General Mills wants them to find what they are looking for — almost without fail. But in recent months, service levels for refrigerated pizza and dough dropped to the 70% range, the company noted in a presentation of its quarterly financial results. CFO Kofi Bruce cited “acute supply shortages” that affected those categories. The situation has started to improve but supplies were still below normal levels last month. The food giant has had a tough time meeting demand for several of its products through the pandemic, as supply chain disruptions and labor shortages curtailed normal operations.

■ Suit blames Xcel for wildfires A class-action lawsuit has been filed against Xcel Energy in Colorado, alleging its power lines and equipment “were a substantial factor in the cause, origin, and continuation of the deadly Marshall Fire. The origin of the blaze is still under investigation. The lawsuit claims witnesses saw fire igniting near a power line the morning of December 30, 2021, suggesting sparks ignited a ground fire that became known as the Marshall Fire in the Eldorado Springs neighborhood of Boulder. The fire burned across 6,000 acres of land and destroyed 1,091 structures, including 1,084 homes. 30,000 residents were evacuated, dozens were injured, and at least one man lost his life while fleeing from the Marshall Fire.” Attorney James W. Avery, who filed the suit, claims negligence on Minnesota-based Xcel’s part.

■ Target back in resale business Target is tiptoeing back into secondhand sales through a deal with resale company, ThredUp. The Minnesota-based big-box retailer launched a page on ThredUp’s website in late March that includes listings of women’s and kids’ apparel, along with accessories. Some items are from Target’s private labels, such as kids’ clothing brand Cat & Jack, or its limited-time designer collaborations, like one with Lilly Pulitzer in 2015, and others are items from

Employment/Unemployment Initial unemployment claims Nine-county Mankato region Major February Industry 2021 2022 Construction Manufacturing Retail Services Total*

405 297 178 554 1,434

Local non-farm jobs Percent change ‘21-’22

208 156 65 166 595

139000

-48.6% -47.5% -63.5% -70.0% -58.5%

Construction

126000 126000 Manufacturing

Retail 113000 Services 113000 Total*

405 297 178 554 1,434

1400

100000

Minnesota Local non-farm jobs

-48.6% -47.5% -63.5% -70.0% -58.5%

8000 2800 2800 6000 2100 2100 4000 1400 1400 2000

Services consist of administration, educational, health care and social 100000 assistance, food andJ otherF miscellaneous services. M A M J J A S O 100000 J don’t F equal M total A because M Jsome Jcategories A not S listed. O N *Categories

700 D

300000

2,977 3,001

240000 180000 120000 60000

700 0 0

- 2021 - 2022

(in thousands)

12000 3500 3500 10000

28 • MAY 2022 • MN Valley Business

2100

700

Percent change ‘21-’22

208 156 65 166 595

2800

127,164

113000

Minnesota initial unemployment claims February 2021 2022

3500

122,480

126000

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.

Major Industry 139000 139000

- 2021 - 2022

Nine-county Mankato region

F M

M A A M

M J

J J

J A

A S

S O

O N

N D

become the norm since the pandemic. Ameriprise Financial has changed the way it engages with emerging talent since the pandemic started as events like inperson career fairs were on hold. They have moved to a completely virtual environment to attract employees. Career changers are among the next generation of talent that Ameriprise has been trying to attract. Ameriprise also aims to attract people who are reentering the workforce.

■ ADM commits to Ukraine Russia and Ukraine are both major exporters of a wide range of basic foods. Now those food exports will be reduced or cut off entirely. Archer-Daniels-Midland is one of the largest foodprocessing companies in the world. The variety of products it produces include flours and grains, beans and pulses, nuts, oils, proteins, starches, and sweetening solutions. The company also makes products used in medical supplements and health foods, including ingredients used for cognitive, heart, digestive, and immune problems. ADM is also a major player in animal nutrition, chemicals, packaging, personal care, and renewable plastics. ADM, which has operations in Ukraine, issued a press release saying it is committing more than $5 million to the country, including wheat for the Ukrainian flour milling industry. The company says it will work with Ukrainian farmers to purchase their crops and use its logistical expertise to import and distribute emergency food rations. The company recently reported its best year ever and the outlook for 2022 looks as good or better. Fourth quarter revenue came in at just over $23 billion compared to about $18 billion in the same period of 2020, an increase of 28%. For the full year, revenue was $85.2 billion, up 32.3% from $64.4 billion 139000in 2020

■ 3M 139000 wins latest earplugs trial

3500

3M last month won the latest trial in a legal war over its 2800 military earplugs, halting a losing streak of relatively large 126000 2100 jury awards against the company. A federal jury in Pensacola, Fla., ruled in favor of 3M in the 1400 case of Denise Kelley, a 36-year-old veteran from southern 113000 California who served 10 years in the U.S. Army. She claimed 700 that defective 3M earplugs caused her hearing loss and 100000 the Star Tribune reports. 0 tinnitus, J F M A M J J A S O N D J 3M has now won six and lost eight of 14 bellwether trials over its Combat Arms CAEv2 earplugs, which for years were standard issue to the U.S. military. The trials are part of one of the largest U.S. mass torts ever. “We 3500 are pleased another jury has sided with 3M,” the 12000 139000 3500 Maplewood-based company said in a statement. The 300000 2800 litigation’s “mixed record demonstrates the strength of 3M’s ■ Ameriprise snagging agents 240000 2800 10000 126000 case and the significant challenges plaintiffs face in proving 2100 8000 126000 Broker-dealers are casting a wider net to recruit the next 2100 their claims.” 180000 generation of advisors, and this includes looking outside the 6000 1400 industry113000 and using new engagement techniques that have 1400 120000 113000

700

100000 100000 J F

J M

M J

J A

J S

A O

S N

O D

12000 12000 3500 10000 10000 80006,215 2800 8000 6000 3,684 6000 2100 4000 4000 1400 2000 2000 700 0 J F M A M 0 J F M A M J J 0 J F M A M J J

180000 120000 60000 J A A

J S S

A S O N O N D O N D

240000

139,024 80,767

120000 60000 D

J JA

J JS

A AO

S N S

O D O

N N

D D

(includes all of Blue Earth and Nicollet Counties) 300000 240000

February 180000 Unemployment rate 120000 Number of non-farm jobs Number of unemployed

60000 J

0 F

J M

F M A A M J

M J

J A

2021

2022

4.1% 57,892 2,481

2.1% 60,194 1,312

J S

A O

S N

O D

Unemployment rates Counties, state, nation County/area

- 2021 - 2022

M MJ

Mankato/North Mankato Metropolitan statistical area

240000

300000

D 0

300000

Minnesota number of unemployed

180000

- 2021 - 2022

Nine-county Mankato region

60000

Employment/Unemployment

F M A A M J

Local number of unemployed

4000 700 2000 0 0 J F M A J F JM FA M M AJ

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

February 2021

February 2022

4.2% 5.2% 6.0% 7.5% 4.2% 3.9% 5.9% 6.3% 4.7% 4.6% 4.6% 6.6%

2.2% 3.0% 3.4% 4.4% 2.6% 2.0% 3.7% 3.6% 2.5% 2.4% 2.6% 4.1%

Source: Minnesota Department of Employment and Economic Development C. Sankey

MN Valley Business • MAY 2022 • 29

Sponsored by the Carl & Verna Schmidt Foundation

Do this if you’ve already refinanced student loans By Cecilia Clark | Nerd Wallet

tudent loan refinance is often the best way to reduce your payment, cut total loan costs and pay off your debt faster. If you’ve already refinanced, you have a way to improve your loan even more: Refinance again. If your goals have changed since the first time you refinanced, or if you want to get to those goals faster, refinancing student loans again can help. Depending on when you refinanced, your interest rate could be 6% or higher. Refinancing again could decrease that rate and save you money now and in the long run. For example, if you owe $27,000 at 6% interest, refinancing to 3% would lower your monthly payments by about $39 and your overall interest costs by $4,686, assuming a 10-year repayment plan. And with student loan refinance expected to rise, now may be your last chance to get a good deal. Here’s what to consider when planning your next student loan refinance.

What are your financial goals?

Whether you decide to refinance again and what kind of term you pick should depend on your financial goals. If you need more cash on hand each month, extending your term with a lower interest rate could be best. This may also be the better route if you need to improve your debt-to-income ratio to qualify for another line of credit, like a mortgage. If you’re looking to pay off your student loans faster or decrease the amount you’ll pay overall, going with the shortest term will be your best bet. This may also be the way to go if getting the lowest interest rate is your primary goal. Lenders will typically reserve their best rate offers for those who elect the shortest terms available. No matter which route you choose, you should refinance only if you can get a lower rate than you currently have. However, don’t be discouraged if you don’t get the lowest rate advertised. Lenders reserve their lowest available rate for those with the best

30 • MAY 2022 • MN Valley Business

financial profiles. They may also have additional criteria to qualify, such as degree attainment. According to 2021 NerdWallet sur vey data, only about 18% of borrowers are offered the lowest advertised rate for student loan refinance. The beauty of refinancing multiple times is that you can continue to get a better rate as your financial situation improves.

What’s the catch?

Just as there’s no real catch to refinancing, there’s no catch to refinancing again. You can refinance as many times as you qualify. There are no added fees or penalties to do so. The only potential downside to refinancing is that lenders pull your credit before final approval. This hard credit check may decrease your credit score by up to five points. That drop is temporary, though, and assuming everything else is OK with your credit profile, your score should recover within a few months. It’s also important to pre-qualify with several lenders to ensure you get the best deal and the one most aligned with your financial goals. Pre-qualify with lenders that will give you an offer without affecting your credit. As you get closer to your payoff date, however, you may only have options to extend your loan term. Several lenders offer repayment terms as low as five years, but few offer shorter terms. The good thing about extending your term when you’re close to payoff is your payment will probably be much smaller. The bad news is your total costs will likely increase. For example, say you have $16,000 and three years remaining on your 4%-interest refinanced student loan. If you refinance again and get a 2% interest rate, but extend to a 10-year term, your payment will go from $472 a month to about $147 a month — a $325 difference. However, extending the loan term will cost you nearly $1,000 more overall due to interest accrual.

Sponsored by the Carl & Verna Schmidt Foundation

Expenses you could face in retirement By Kate Ashford | NerdWallet

etirement planning is part savings, part guessing game. While many of your day-to-day expenses will remain the same, there are big-ticket categories that can take a large bite out of your savings. The more you can plan, the better prepared you’ll be to weather the costs. Here are four expenses to keep in mind as you prepare for retirement:

Health care

The average 65-year-old retired couple will need about $300,000 in after-tax savings to handle health care costs in retirement, according to a 2021 report from Fidelity. Fidelity is a NerdWallet partner. “And that’s just for regular health care,” says Michelle Gessner, a certified financial planner in Houston. “That’s not even counting unexpected chronic illness care.” Your specific costs will depend on where you live, how long you live and your overall health. Taking care of your health and adequately managing conditions like Type 2 diabetes can help keep costs lower. The other health care surprise is that Medicare premiums are higher if your income is above a certain level. For example, if you’re married filing jointly with a modified adjusted gross income over $182,000 in 2020, you’ll pay at least 40% more for your Medicare Part B monthly premiums. In 2022, the standard premium costs about $4,000 a year for a couple.

Long-term care

Seniors who live to 80 have about a 1-in-4 chance of needing long-term care. And it’s not cheap: An assisted living facility costs $4,500 a month, on average. And while a home health aide averages about $27 per hour, the costs add up. “That’s pretty reasonable if you only need a few hours of care per week,” says Patti Black, a CFP in Birmingham, Alabama. “That math becomes unworkable, the more care you need.” Certified financial planners can help clients project costs for a few years of long-term care to ensure their savings can handle it.

Dental care

The average senior on Medicare using dental services paid nearly $900 a year out of pocket, according to the Kaiser Family Foundation. And 1 in 5

Medicare beneficiaries spent more than $1,000. Original Medicare doesn’t cover most traditional dental care, and 47% of Medicare beneficiaries go without any dental insurance. But gum disease, tooth loss and oral cancer are all greater concerns for seniors, and finding comprehensive dental insurance can be difficult. “Dental procedures can be a really r ude awakening,” Burkhardt says.

Prescription drugs

Since 2015, at least 1 million enrollees per year in Medicare Part D have had drug costs high enough to exceed the catastrophic coverage threshold, which is $7,050 in 2022. If you have a condition that requires specialty tier drugs — such as cancer, multiple sclerosis or hepatitis C — your out-of-pocket costs can be exceptionally high. Once you hit the catastrophic threshold, you’ll pay either a small coinsurance or copay for drugs , but there’s no cap on out-of-pocket spending under Medicare Part D; it can add up if your drug is expensive. “My dad has rheumatoid arthritis, and his drugs cost $6,000 per month,” says Tess Zigo, a CFP in Palm Harbor, Florida. “What retiree has $6,000 a month just for drugs?”

What to do

A financial planner specializing in retirement needs can stress test your financial plan for health events and other expenses. If there are gaps in your coverage, they can help you with strategies to address unexpected costs, such as considering long-term care insurance or a hybrid policy that combines life insurance with a long-term care rider. Getting the right insurance, from Medicare Supplement plans to dental and drug coverage, is also essential. “If the coverage is correct, then those catastrophic expenses aren’t so bad,” says Dennis Nolte, a CFP in Winter Park, Florida. A good insurance broker can help you weigh your options, and a Medicare consultant — or a call to your State Health Insurance Assistance Program or SHIP — can answer your questions about the best Medicare coverage for your needs.

MN Valley Business • MAY 2022 • 31

NEW LOCATION

Vivian Rose Boutique 631 South Front Street, Mankato, MN 56001

NEW BUSINESS

Nicholson Health Coaching 52856 219th Street, Lake Crystal, MN 56055

NEW BUSINESS

Game On Nutrition 300 Belgrade Avenue, North Mankato MN 56003

NEW LOCATION

Annie's Ink 515 North Riverfront Drive, Mankato, MN 56001

NEW LOCATION

Guileless Green 515 North Riverfront Drive, Mankato, MN 56001

NEW LOCATION

Natural Order Jewelry & Coyote and Bee Studio 515 North Riverfront Drive, Mankato, MN 56001

32 • MAY 2022 • MN Valley Business

NEW LOCATION

Bent River Outfitter 606 North Riverfront Drive, Mankato, MN 56001

NEW LEADERSHIP

The Orthopaedic & Fracture Clinic 1431 Premier Drive, Mankato, MN 56001

NEW LOCATION

Justin EK 515 North Riverfront Drive, Mankato, MN 56001

NEW LOCATION

Jessica Laird Designs 515 North Riverfront Drive, Mankato, MN 56001

NEW BUSINESS

Summer's Haven 1826 Commerce Drive, North Mankato, MN 56003

NEW LEADERSHIP

Greater Mankato Diversity Council 127 South 2nd Street, Mankato, MN 56001

NEW OWNERSHIP

Mankato Home Show purchased by Radio Mankato

NEW LOCATION

River Valley Market 515 North Riverfront Drive, Mankato, MN 56001

NEW LOCATION

Crystal Candles & The Mineral Men 515 North Riverfront Drive, Mankato, MN 56001

NEW LOCATION

Larry's Lanyards, Linda's Decor & More 515 North Riverfront Drive, Mankato, MN 56001

or nearly 40 years, the Greater Mankato Leadership Institute has been the premier leadership development training program in our community. The program consists of a monthly full-day day session from September to May and a special two-day session that includes visiting the State Capitol. The Leadership Institute is geared towards individuals who wish to further develop their leadership skills, have recently been promoted or considered for a management level position, or are new to the community and would like to become better informed about businesses and nonprofit organizations in our area.

WHY JOIN

GREATER MANKATO GROWTH?

Participants will have an opportunity to build and strengthen relationships with other emerging community leaders, learn and practice leadership skills by applying them in personal, professional, and community settings, learn about the past, EXPOSURE Buildand yourgain Brand; present, and future of Greater Mankato, information NETWORKING TW WORKING ORKING grow your business. and perspective from experts and community leaders. Stand out and get

It’s not just st WHO WHO you ou

The program is available to Greater noticed! Mankato Growth know, it’s who knows k members, engaged level or higher and applications for the YOU. Networking IS 2022 - 2023 class are accepted through June 15, 2022. Powerful.

BE IN THE KNOW

During the March 2022 session, the Greater Mankato Leadership Institute had an opportunity to meet with local and state elected officials to gain a deeper of our our state government, understanding Receive member only as well as gain more perspective on their experiences emails making you the first to with public service. know the latest news.

LEARNING

Gain access cces to Member Exclusive Content to help grow your business.

TALENT RETENTION

Keep your employees engaged and retained with access to our member only events and programs.

MEMBER Thank you to these representatives for taking the time to meet with our Leadership Institute group: EXCLUSIVE Najwa Massad, REFERRALS Mankato Mayor, Sandra Oachs, North Mankato Council Member, Erin Roberts, BENEFITSMankato AreaWePublic only refer member Schools Board Member, businesses. Word of mouth G. Barry Anderson, Minnesota Supreme Court and direct referrals come Associate Justice, Senator Nick Frentz, Senator from being a valued Jeremy Miller, Rep. Luck Frederick, Rep. Jeremy member of GMG. Munson, and Rep. Susan Akland.

apply today: greatermankato.com/leadership SHAPE YOUR CREDIBILITY

COMMUNITY

Your investment helps us continue to build the best environment for your business and its employees.

Raise your reputation by belonging. Research shows that businesses who belong to a chamber of commerce are more successful.

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Don’t miss out on this opportunity to build upon your leadership skills as you participate in this carefully curated series of workshops! greatermankato.com/join Create the right mindset and practice skills to help you expand the April 2018 contributions of others while understanding how one’s own actions can affect our outcomes. Find out how to work more effectively together, connect more authentically, and engage more respectfully.

EvEry first tuEsday of thE month 4 to 6 pm * datEs shiftEd to sEcond tuEsday duE to holidays

MAY 3

Edina Realty 313 N Riverfront Drive, Mankato

SEP 13 *

Frandsen Bank & Trust 240 Belgrade Avenue, North Mankato

JUN 7

Laurels Edge Assisted Living 77 Stadium Road, Mankato

OCT 4

J. Longs 1640 Madison Avenue, Mankato

JUL 12 *

Dotson Iron Castings 200 W Rock Street, Mankato

NOV 1

Mayo Clinic Health System 1025 Marsh Street, Mankato

AUG 2

Massad Real Estate 100 Warren Street, Suite 308, Mankato

DEC 6

Federated Insurance 2000 Technology Drive, Mankato

Business After Hours events are an opportunity for Greater Mankato Growth members to visit with one another in an informal atmosphere. To get a taste of a Greater Mankato Growth membership, guests from the general public are welcome to attend one Business After Hours event.

greatermankato.com/bah

Mankato Dental Laboratory

360 Pierce Avenue, Ste. 113, North Mankato, MN 56003

2022 PRESENtINg SPONSOR

monday, July 11, 2022 mankato golF cluB Dust off your clubs and register for the 2022 Greater Mankato on the Green golf tournament!

Captiv8 Marketing 100 Warren Street, Mankato, MN 56001

Mending Spirits Animal Rescue P.O. Box 475, Mankato, MN 56002

Heaven's Best Carpet Cleaning 1100 Alan Avenue, Marshall, MN 56258

34 • MAY 2022 • MN Valley Business

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Don't miss out on this first-class opportunity to network with 200+ member businesses, all while enjoying 18 holes of golf!

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F GREATER MANKATO WHY JOIN GROWTH? or biking enthusiasts, Mankato features some of the best trails in the state, as well as scenic roadways with wide shoulders and little to moderate traffic. The beautiful trail system offers a spectacular view of areas that may not always be explored as it follows streams and crosses upland and wetland areas, showcasing all kinds of wildlife. EXPOSURE

Build Brand; More than 50 miles of paved trails in your a scenic NETWORKING TW WORKING ORKING grow your business. river valley and dirt trails perfect for a fatter tire Celebrating Stand out and get It’s not just st WHO WHO you ou make Greater Mankato an amazing place for noticed! know, it’s who knows k year-round biking adventures. YOU. Networking IS

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May is National Bike Month, promoted by the League of American Bicyclists and BE IN celebrated in communities throughout the United States. Established in 1956, THE KNOW LEARNING National Bike Month is a chance to showcase the many benefits of bicycling Gain access cces to Member Receive our member only and encourage more people to give biking a try.

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Breast cancer doesn’t wait. And neither should you — early detection saves lives. The earlier breast cancer is detected, the easier it is to treat. Mammograms are a screening tool that detect cancer before symptoms start. With convenient access, it’s time to prioritize your breast health. If you’re 40 or older, schedule your annual 3D mammogram today.

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