MN Valley Business, October 2018

The Definitive Business Journal for the Greater Minnesota River Valley October 2018

Terri Jensen, farmland realty broker. Photo

by Pat Christman

Changing landscape Unknowns aplenty in agribusiness

Also in this issue • KNIT & SEW WORLD IN ST. PETER • MESSY DOG IN MANKATO • BABY’S FIRST PHOTOS IN MANKATO

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F E A T U R E S October 2018 • Volume 11, Issue 1

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From the fourth year of low commodity prices to the ongoing renegotiation of NAFTA and an unfinished Farm Bill those in agribusiness are facing a variety of unknowns.

14

Amanda Young uses here broad base of skills including embroidery and using a variety of knitting and sewing machines to help customers at her Knit & Sew World in St. Peter.

16

Danielle Henry opened her Baby’s First Photos business, which lets expecting moms get high quality ultrasound photos, in California and then brought the concept to Mankato.

20

Alex Oldenburg formally trained and showed her first dog in the 8th grade as part of 4-H and carried her passion for positive training when she opened Messy Dog Training.

MN Valley Business • OCTOBER 2018 • 3

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OCTOBER 2018 • VOLUME 11, ISSUE 1 PUBLISHER Steve Jameson EXECUTIVE EDITOR Joe Spear ASSOCIATE EDITOR Tim Krohn CONTRIBUTING Tim Krohn WRITERS Kent Thiesse Harvey Mackay Amanda Dyslin Dan Linehan Dan Greenwood PHOTOGRAPHERS Pat Christman Jackson Forderer COVER PHOTO Pat Christman PAGE DESIGNER Christina Sankey ADVERTISING Danny Creel Sales Joan Streit Jordan Greer-Friesz Josh Zimmerman Marianne Carlson Theresa Haefner ADVERTISING Barb Wass ASSISTANT ADVERTISING Sue Hammar DESIGNERS Christina Sankey CIRCULATION Justin Niles DIRECTOR 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 ■ Business Commentary........................8 ■ Business and Industry trends .........24 ■ Retail trends ....................................25 ■ Agriculture Outlook .........................26 ■ Agribusiness trends.........................27 ■ Construction, real estate trends ....28 ■ Gas trends .......................................29 ■ Stocks ..............................................29 ■ Minnesota Business updates...........30 ■ Job trends ........................................30 ■ Schmidt Foundation ........................32 ■ Greater Mankato Growth .................34 ■ Greater Mankato Growth Member Activities ...........................36

From the editor

By Joe Spear

Workers matter in economic growth

A new report the compares economic growth in Upper Midwest states shows some surprising results for Minnesota given its high-tax rate status.

The Midwest Economic Policy Institute compared Minnesota, Wisconsin and Illinois over the 2008-2017 time period to measure differing state economic and political policies compared to wage growth and the rate of unionization in each state.

The study compared measures over the last 10 years to reflect how clear changes in political direction between the states might reflect in their wage growth and unionization rates. Wisconsin, under Gov. Scott Walker, has restricted collective bargaining laws in its Act 10, eliminated prevailing wage laws and became a “right to work” state.

Minnesota has expanded collective bargaining to more groups, raised its minimum wage and kept in place prevailing wage laws – laws that require a certain wage be paid to workers at companies who work on public contracts or building projects.

Illinois has followed some of the same policies as Wisconsin, researchers note, with the exception of Chicago, which raised its minimum wage.

Researchers from the University of Illinois, UrbanaChampagne, University of Wisconsin, Madison, University of Minnesota and the University of California-Irvine conducted the trio of studies and found Minnesota bested all other states in wage growth, union wage growth and rate of unionization.

These kinds of broad studies can be misleading and a suggestion of cause and effect can be tenuous. There are many causes for higher wages in a given region or state and workplace laws are one of the

4 • OCTOBER 2018 • MN Valley Business

many factors. Still the difference seem stark enough to suggest the vastly different political directions Minnesota and Wisconsin have gone had some impact on the wage growth.

The dif ference between Wisconsin and Minnesota economic growth has been documented elsewhere, and Wisconsin newspaper editorial boards are quick to criticize Walker and point to Minnesota’s Gov. Mark Dayton as the model on how to play the game, including raising taxes on the wealthy and increasing spending on education.

(But they’re still diehard Packer fans. They won’t be looking to the Vikings for any examples of how to play football.)

While Minnesota’s wage growth over the period 2008-17 was up 11 percent adjusted for inflation, Wisconsin’s was 5 percent and Illinois was at 8 percent. U.S. wage growth was 6 percent over the same period.

Minnesota union wages are the highest of all three states at an average of $29.44 per hour, about $3 per hour more than the state’s non-union wages. Wisconsin’s union wage is $26.07 and Illinois’ union wage is $28.17 per hour.

One of the co-authors seems to like Minnesota’s business climate.

“On the core issue of boosting worker paychecks, Minnesota has largely bucked national and regional trends by resisting austerity, embracing minimum labor standards, and supporting collective bargaining,” said Professor Robert Bruno in a statement. He is director of the Project for Middle Class Renewal at the University of Illinois.

“This is a ver y different approach than we’ve seen in Wisconsin, yielding significantly better wage outcomes for both union and non-union workers alike. A rising tide lifts all boats,”

he said.

Most surprising is the rate of unionization in each state and that Minnesota is the only state to increase its union membership in the last decade, a trend that bucks anything nationally for years. Union membership grew 5 percent in Minnesota for 2007 to 2018, or by 19,000 workers.

Union membership fell 42 percent in Wisconsin -- or by 165,000 workers – by 12 percent in Illinois – 111,000 workers, and 8 percent nationally.

Minnesota also has the highest rate of union membership at 15 percent, tied with Illinois. While both states slipped about 1 percent in the last 10 years, Wisconsin has gone from 15 percent in 2008 to 8 percent in 2017.

Finally, the studies show the unionization rates for veterans and people of color is below the national average only in Wisconsin.

Minnesota’s unionizing success has been related to what U of M researcher calls “high road” strategies that have yielded stronger economic gains for Minnesota.

“Minnesota’s labor unions have invested resources in organizing that has resulted in new union members in a variety of industries including the public sector, hospitality, health care, retail and construction,” said Professor Monica Bielski Boris, co-author of the Minnesota study, in a statement.

She is the director of the Labor Education Service at the University of Minnesota.

Authors say union favorability ratings are now polling at their highest level in 15 years. It appears to be an undercurrent that doesn’t get much publicity.

There are two important takeaways from the study. If union members earn higher wages than nonunion workers and there are more union workers, then that supports overall income going up.

And if workers are more productive and better team players if they feel they are being compensated fairly, that should be good for companies and the economy.

Joe Spear is executive editor of Minnesota Valley Business. Contact him at jspear@mankatofreepress.com or 344-6382.

Follow on Twitter @jfspear.

Local Business People/ Company News

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Mankato Clinic adds providers

Mankato Clinic announces new providers who have joined the practice.

Amy Deehr, DO, joins the pediatrics department. She is practicing at the Children’s Health Center, Wickersham Health Campus. Deehr earned her medical degree at Midwestern University, Arizona College of Osteopathic Medicine, Glendale.

She completed her residency in pediatrics at the Mayo Clinic College of Medicine and Science Program, Rochester.

Katie Keepers, MD, joins the obstetrics and gynecology department. Originally from Mankato, Keepers graduated from the University of Minnesota Medical School, Minneapolis. She completed her residency at the University of Kansas Medical Center, Kansas City. Her clinical focus includes obstetrics, high risk obstetrics and minimally invasive surgery.

Amy Jo Sorensen, DO, joins the family medicine department.

She is practicing at the North Mankato Clinic. She graduated from Kansas City University of Medicine and Biosciences, Kansas City, Mo. She completed her residency at UW Health, School of Medicine and Public Health, University of WisconsinMadison. She also holds an MBA from Rockhurst University, Kansas City, Mo. Her clinical interests include women’s health, pediatrics and geriatrics.

Brooke Long, CNP, joins the surgery department. She holds a bachelor’s of science in nursing from South Dakota State University, Brookings. She earned her certified nurse practitioner degree from Clarkson College, Omaha, Neb. Jennie Marble, APRN, FNP-C, joins Bluestone Vista at Mankato Clinic. Bluestone Vista offers families of seniors a Mankato Clinic provider team to visit their loved one in their residential living facility.

Jessica Smisek joins Bluestone Vista at Mankato Clinic as an RN care manager. She earned her associate in applied science in nursing from Minnesota West Community and Technical College, Worthington.

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Bolton & Menk honored

The Society for Marketing Professional Services awarded Bolton & Menk with a Merit Award for Brand Awareness of the “Real People. Real Solutions.” marketing campaign.

After rebranding in 2016, a “Real People. Real Solutions.” campaign was rolled out in 2017.

This included incorporating the new brand into proposals, social media, website, videos, advertisements, and at conference expos.

The SMPS Marketing Communications Awards Program is the longest-standing competition that recognizes excellence in marketing communications produced by professional services firms in the design and building industry.

Bolton & Menk specializes in providing public infrastructure solutions. They have 18 office locations throughout the Upper Midwest made up of nearly 500 employees.

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MRCI earns accreditation

MRCI has again earned a threeyear accreditation from CARF International. This accreditation represents the highest level of accreditation that can be given to an organization and shows the organization’s substantial conformance to the CARF standards.

An organization receiving a Three-Year Accreditation has put itself through a rigorous peer review process.

It has demonstrated to a team of surveyors during an on-site visit, its commitment to offering programs and services that are MN Valley Business • OCTOBER 2018 • 5

measurable, accountable and of the highest quality.

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to encompass businesses from neighboring towns.

Towns within the Maple River school district include Amboy, Good Thunder, Mapleton and Minnesota Lake.

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have held events to benefit local Children’s Miracle Network Hospitals.

Walmart associates in Mankato kicked off their fundraising effort by going skydiving. The store goal is to raise $15,000 this year.

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River’s Edge honored

River’s Edge Hospital has been awarded two 2018 Excellence in Patient Care Awards by Studer Group, a Huron solution.

Specifically, River’s Edge is being recognized for exemplary results related to discharge information as measured by the Hospital Consumer Assessment of Healthcare Providers and Systems survey.

Organizations receiving this award achieved a ranking at or above the 90th percentile for patients discharged in 2017 as measured by the patient experience survey.

The organization is also being recognized for achieving significant reductions in turnover in 2017.

6 • OCTOBER 2018 • MN Valley Business

Johnson joins True

J e n n i f e r Johnson has joined True Real Estate as the newest real estate agent at their Mankato location.

Johnson is a Mankato native and graduate of Jennifer Johnson Mankato West High School. She earned her degree in Constr uction Management and Interior Design at Minnesota State University.

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Forensic accountant added

Chistopher Baxter has been named forensic accounting associate for Eide Bailly, a regional cer tified public accounting and business advisory firm.

Baxter is a member of the Association of Certified Fraud Examiners and has more than two years of forensic accounting and investigative ser vices experience in a variety of industries.

He assists clients by providing fraud detection and investigation services to locate, identify and quantify fraud losses.

He also offers prevention consulting services to help people be more proactive with fraud prevention within their organization.

Baxter is a graduate of Minnesota State University and has more than 20 years of service in the US Army Reserves.

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Volk gets safety award

Volk Transfer Inc. in Mankato was one of 13 trucking firms in the state to earn a Fleet Safety Award from the Minnesota Trucking Association.

The awards are based on Minnesota miles operated and Department of Transportation recordable accidents that occurred in Minnesota.

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Business Commentary

By Harvey Mackay

Work requires fair play, holding all to same standard O ne day many years ago, two young fellows were in a quarrel, and it had signs of becoming serious. Future U.S. President Abraham Lincoln, himself a young man at the time, but with an earnest desire for fair play, was called upon to decide the difficulty. One of the combatants, who had been defeated in the decision, and above whom the towering Lincoln stood head and shoulders over, boastfully threatened Lincoln.

“See here, Lanky, I’ll lick you!” he shouted.

Abe looked down comically at the small challenger. “All right,” he said, “but let’s fight fair. You are so small there isn’t much of you for me to hit, but I am so big, you can’t help hit me. So you make a chalk mark on me that will show just your size. When we fight, you must be sure to hit me inside this mark or it won’t be fair.”

The idea was so ridiculous, the little bully began to laugh, and the quarrel ended as a joke.

Everyone seeks to be treated fairly. Remember when you were growing up and you had a teacher or coach or parent who played favorites? I bet that didn’t make you feel very good.

Fairness is important to employees, but that doesn’t mean that you have to treat everyone equally. Not everyone is the same. You have high level producers and others who are content in just doing their jobs. If you treat these people equally and pay them equally, you’re also not going to be seen as fair.

The truth of the matter is that life isn’t always fair. But that doesn’t mean that you shouldn’t

try to be as fair as possible. How do you think companies make the various lists of the top 100 companies to work for? They have perks, of course, but they are fair.

According to RISMedia, fairness means treating each employee appropriately and individually, based on their circumstances and contributions.

Fair companies “treat like cases alike and unalike cases unalike,” says ethics expert Bruce

Mackay’s Moral: You must play fair at work if you want to be excellent at work.

Weinstein.

Bottom line, you can’t play favorites. You hold everyone to the same standards. If employees think they’re not getting a fair deal from your company, they won’t perform as well as you need them to. In fact, morale can be destroyed. The best advice is to follow the golden rule: Treat everyone you encounter as you would like to be treated.

Equally important is to lead by example. Be a role model for your employees. If you want them to be at work by 8 a.m., you should be at work before 8 a.m.

8 • OCTOBER 2018 • MN Valley Business

If you tell an employee they are spending too much time on personal items, you must use your time appropriately. Do as I do, not as I say.

It’s so much easier when you establish crystal-clear rules. Let employees know what is expected of them in terms of criteria for performance reviews, promotions, raises/bonuses, qualifications for benefits and disciplinary actions. If you judge a rule to be unfair and need to change it, be honest and up front so employees understand what is happening. Rules always go over better when you have buy-in from employees.

Maintain an open line of communication. I tell my employees that my door is always open for any of our employees. You have to give employees a voice and listen to their feedback. And then act on their concerns promptly.

Finally, don’t be afraid to apologize if you make a mistake.

No one is perfect. It’s best to admit your mistake and move on.

If you fail to acknowledge your own mistakes, your employees won’t think you are fair. Be honest with your employees.

If you truly want to know how employees feel about conditions at your company, here are some questions to ask and then give fair hearing to the answers: n Is management’s treatment of all employees respectful and evenhanded? Or are some employees getting the “star” treatment and others offered more leeway in getting assignments completed?

n Do the organization’s policies for promotion and advancement always seem fair?

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n Does favoritism or special treatment appear to be an issue in raises or promotions? n Is management consistent in administering employee policies and rules? n Do you feel you always get fair treatment from your manager?

EMBRACE THE POSSIBLITIES OF TOMORROW. You never know for sure what tomorrow will bring. But you can be sure that we’ll be there to keep our promise - providing coverage for what’s important to you.

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Harvey Mackay is a Minnesota businessman, author and syndicated columnist. He has authored seven New York Times bestselling books

www.cimankato.com

Christina Meyer

Laura Thoms

MN Valley Business • OCTOBER 2018 • 9

Sam Ziegler

10 • OCTOBER 2018 • MN Valley Business

Brad Schloesser of South Central College speaks at a press conference about the opening on new community gardens on the SCC campus in May 2018.

Ag powerhouse Agribusiness economy dominates region

A

By Tim Krohn | Photos by Pat Christman and Jackson Forderer

griculture has always been a quickly changing business with ups, downs and unpredictability.

There’s plenty of all those things today.

“There’s so much going on, with tariffs, the Farm Bill not done, commodity prices not even close to 2011 or 2012. We still don’t know what the tax bill will really do to farmers and business owners,” said Terri Jensen, an appraiser and Realtor at National Land Realty.

Sam Ziegler, director of GreenSeam, a part of Greater Mankato Growth, said the state of agribusiness depends on where you look.

“The farm economy, the producers, are really struggling now but it hasn’t affected the entire food chain.

“Renewable fuels are doing well. Exports are still on par but no one is sure what’s going to happen with the NAFTA negotiations. That’s a huge impact for our area,” Ziegler said.

“Tractor and equipment sales have slowed, but their repair business is still strong and new technology keeps coming so it hasn’t come to a screeching halt by any means” Insurance agent Devin Krienke said he often finds farmers exposed to risks they aren’t aware of because insurance policies don’t cover a lot of potentially costly loses without added endorsements.

“We need to be asking a lot of questions. They don’t know what they don’t have covered until they’re asked the right questions.”

While it may be an unpredictable industry, there are lots of opportunities for good careers, says Brad Schloesser of South Central College.

He, GreenSeam, MSU and business partners have been working more at letting college students know about good agribusiness careers located in the region.

“The idea is to help students to recognize that during or after their education there’s a tremendous

Cover Story

MN Valley Business • OCTOBER 2018 • 11

Insurance agent Devin Krienke. amount of, say, engineering jobs in agriculture,” Schloesser said.

Risk reduction

separate coverage. Combines take in rocks sometimes and you need the coverage to get it repaired. And do you have coverage to get a rental combine while yours is being fixed?”

After several years working in the Twin Cities and traveling North America as an events manager, Krienke, who grew up on a farm by Janesville, said he’s glad to be back in the area.

His office on North Riverfront Drive is in a small, historic Kasota Stone building that served as the office of the former Coughlan stone quarry.

Krienke, who’s been an American Family Insurance agent in Mankato for five years, offers a full range of insurance including working with large farm operations down to small hobby farms.

“When you get into bigger farms there are so many different coverages and endorsements that need to be added. A lot of people aren’t covered properly and they don’t even know it.”

He said out buildings often need separate coverage as do Good land in demand things like a large rock being Jensen said land prices have taken up into a combine and fallen since the peak a few years ago, but demand is still high and damaging it. prices, particularly for prime land, “Rock ingestion has to be 12 • OCTOBER 2018 • MN Valley Business

remain strong.

“We still have buyers who need and want to purchase ag land but there is not a lot of inventory out there.”

She said land prices peaked in 2011 and 2012 when crop prices were at record levels. “We saw farmers in those years paying a premium for some land that maybe wasn’t justified.”

She said from 2013 to 2015 land prices fell 20-30 percent.

“In the last few years we’re seeing buyers more selective in what they’re buying and premium quality land is holding its value,” Jensen said.

“The number of sales has decline every year from the high.

But the market is still good. We had a ton of ag land sales last year.”

She said prices var y dramatically based on where the land is and its quality.

“I sold some by Thief River Falls for $2,000 to $2,500 an acre.

In the Mankato area, where we have the good black dirt, it’s $8,000 to $10,000 to $12,000 an acre. And there’s everything else in between in the state. Northern Iowa is even more expensive.”

Jensen said up to 85 percent of land sold a few years ago was bought by farmers who were expanding. Now a slightly larger share of land sales are going to investors or to 1031 buyers — those who own farmland on the edge of the city that becomes highly valuable, sell it and then buy cheaper land elsewhere while being able to defer tax payments.

“There are more industrial and commercial and residential development on the edges of cities and farmers sell and go further out and can buy two for one or three for one or four for one (more times land).”

Jensen said that in spite of years of low crop prices she’s not seeing signs of a lot of farmers in financial distress.

“I’ve been talking to a lot of lenders and even after four years of bad commodity prices it doesn’t seem like they’re talking to any farmers who are in trouble. And we’re not seeing foreclosures.”

She said she also hasn’t handled any “quiet sales,” in which a farmer in financial straits has a

Stalks of corn wait to be harvested by a combine in a field near Mankato.

Realtor quietly sell some of his farm land without advertising it.

GreenSeam

GreenSeam is a coalition of agribusiness companies and farm groups and educational institutions who promote the area as an “ag epicenter” and who work to add and retain ag related jobs to southern Minnesota.

Growing agribusiness means big money. Ag is the largest part of the area’s economy, generating $35 billion to $36 billion a year.

Ziegler said about 80 percent of an economy grows from within and 20 percent is new, so helping existing businesses grow is important.

“If you look around town there aren’t a lot of (agribusinesses) that just came in recently and started up. Talent retention and attraction is huge,” he said.

“We’re putting a lot of effort into further bringing business and education together instead of them going in two different directions.”

Ag education

Minnesota State University has been centering more focus on agribusiness in several departments, including business and technology programs.

Ziegler, South Central College and ag business partners have been working with some MSU classes on ag-focused projects, including with a recent IT class.

“It’s about engaging young minds about the opportunities that exist around agriculture,” Ziegler said.

“It surprises students. When they think about ag they don’t think about an IT major, but there are a lot of jobs related to that and to things like finance and communications,” Ziegler said.

Brad Schloesser, dean of the Southern Minnesota Center of Agriculture at SCC, said MSU wants to become a partner in the Center of Agriculture as well as Rochester Community and Technical College.

Schloesser said that because SCC’s faculty and curriculum has long focused on agribusiness and food they can help introduce the industry to students at MSU. SCC has also been rolling out a new app that they introduced at

the State Fair. The app introduces students and prospective students to eight pathways in agriculture, food and natural resources.

“People can click on natural resources and it asks if you like working outdoors or indoors and then it asks more questions and leads you to more choices,” Schloesser said.

“Then it drills down deeper and identifies positions available in Minnesota and what is the salary range and where can you receive additional education and training.”

SCC has also been providing Curriculum for Ag Science Education (CASE) training, a national program. It’s aimed at high school teachers to help them develop ag science programs at their schools and to connect high school students with higher ed professionals.

Some area schools, including Nicollet, St. Peter and Maple River have ag programs but Mankato schools do not.

Schloesser said 489 high school teachers in the country were certified in CASE and SCC trained 48 of those. “So we had 10 percent of all of them, we’re proud of that.” MV

MN Valley Business • OCTOBER 2018 • 13

Amanda Young, who has worked at Knit and Sew World for 14 years, holds a 3-D hydrangea that she embroidered at the business in St. Peter.

Young said it took her a total of 10 hours to complete the embroidery.

Crafting with tech

Knit & Sew offers knitting, embroidery clubs

By Amanda Dyslin Photos by Jackson Forderer

T

Young of Knit & Sew World in St. Peter. he beautiful hydrangea, in a clay pot, “I’ve embroidered on wood, window stands about three feet tall in the screen, vinyl, cardstock, paper, fabrics, window. burlap, organza, (etc.).”

It’s not until closer The hydrangea took inspection that you only six hours to realize, not only is it not complete, thanks to real, it’s actually made machines that can of embroidery: a threeKNIT & SEW WORLD handle the intricacy of d i m e n s i o n a l embroidered topiar y 119 S. Minnesota Ave., St Peter the work at high speeds.

507-934-3741 created as a State Fair It’s on those machines, knitsewworld.com show piece. and various others, that Amanda Young’s Young has become an skills are proof that the art of embroidery expert over the past 14 years working at goes far beyond your grandma’s doilies.

Knit & Sew. The store on South Minnesota “I have to say, that’s my passion,” said Avenue sells and repairs various sewing,

Cover Spotlight

14 • OCTOBER 2018 • MN Valley Business

knitting and embroidery machines.

Young started embroidering about a year before being hired at the store. She taught herself the skill.

“Some of the 3D butterflies and dragonflies can be the most difficult,” she said, regarding how her skills have grown. “But basically they’re only difficult because I don’t do well with some of the hand-sewing.”

Young picked up many new skills at the store, pretty much out of necessity. Owner Shawn Dolan said she needed to learn to sell all of the store’s various machines, and to do that, she had to learn to use them to demonstrate to customers.

This led to the idea of starting clubs at the store shortly after.

“I loved embroidery so much, I wanted to share it,” Young said.

Women – and men, Young is quick to point out – take part in one club or another most Saturdays at the store. Machine Knitting clubs meet the first two Saturdays of the month. The PE-Design Digitizing Club (learning and exploring embroidery software) and Machine Embroidery Club meet the third Saturday of the month.

The clubs are hands-on and participants bring their own machines to learn new techniques and work on a project every month.

Most people are aware that various kinds of sewing machines exist. But Young isn’t surprised when people don’t realize there are machines that can knit and embroider.

She said it’s fun to see what detailed projects people take on once they get used to using the machines.

“I started off with scarves and built into blankets, and now I’m doing clothing,” she said. “People make skirts, pant suits, evening gowns, bridal dresses, toys, christening gowns. If you can put it on your body or in your home, the machines can make it.”

Kay Carlson of St. Peter bought a knitting machine four years ago and joined one of the clubs to learn how to use it. She had been a hand-knitter for years.

“I was always intrigued by the knitting machines because I thought it’d be a real easy way to do a sweater,” she said. “Zip! You’ve got a row done.”

At first Carlson learned the basics in the club, and then over the years, her knowledge expanded to various methods and techniques. She’s made several afghans, sweaters, socks, slippers, hats and other projects.

She still does some hand-knitting, but the speed of the machine is hard to pass up. An afghan can take dozens, maybe hundreds of hours to hand-knit. “(On a machine), with a complex one, if you work on it, oh, two or three hours a day, you can have one done in less than a week,” Carlson said.

Now that Carlson knows her way around a knitting machine, she says she stays in the club for the camaraderie, but also because there’s always something new explore.

“We keep learning new stuff together,” she said.

MV Anyone interested in joining one of the clubs can contact Amanda Young at 507-934-3741, or visit knitsewworld.com for more information.

Top: Amanda Young (right) helps out Jolene Vickers on a knitting machine at Knit & Sew World in St. Peter. Middle: Kay Carlson works on a knitting machine at Knit and Sew World in St. Peter. Bottom: Jolene Vickers works on a knitting machine at Knit and Sew World in St. Peter.

MN Valley Business • OCTOBER 2018 • 15

Danielle Henry opened her Baby’s First Photos business in California and then brought the concept with her when she moved to Mankato.

Bonding with baby Business offers ultrasound images for pregnant moms

By Dan Linehan Photos by Jackson Forderer

E

ven when it happens outside of a As an ultrasound technician herself, she doctor’s office, the moment when a also saw something else: a business mother first lays eyes on a picture of opportunity. her child is a powerful Henr y, originally of sort of medicine.

Fairmont, was living in To Danielle Henry, that California at the time. She moment came about 16 found a storefront, bought years ago, during an ultrasound equipment and BABY’S FIRST ultrasound of her second opened Baby’s First PHOTOS daughter. At the time, Photos in October 2005.

112 E. Walnut St, Mankato newer ultrasound In December 2013, she 507-388-2229 technology was allowing moved back to Minnesota minnesota4dultrasound.com mothers to see threeand sold the business to dimensional images for an employee several the first time. months later.

Henr y saw her daughter’s detailed She re-opened in Mankato in September features; her lips, her nose, and imagined 2014 under the same name. She continues to how they might look when she was born. run the business herself, including

Feature

16 • OCTOBER 2018 • MN Valley Business

Danielle Henry tries to get an ultrasound image of Miranda Lee’s baby druing a visit to Baby’s First Photo. conducting the ultrasounds.

“I thoroughly enjoy my job,” Henry says. “Each person has their own stories. Sometimes, it’s just the mother and father, and other families bring in children and grandparents.”

Most women come to Baby’s First Photos for an ultrasound at one of two points in their pregnancy: at about 13 weeks, to learn their baby’s gender, or at about 30 weeks, for a detailed look once their baby has developed further.

Recently, she started offering a blood test that can determine a baby’s gender as early as nine weeks after conception. It takes advantage of the fact that the fetus’ DNA is also present in his or her mother’s blood. The test searches fetal DNA for the Y chromosome, which indicates the baby is male, and vice-versa.

Even though her ultrasound machine employs the latest highdefinition imaging, the basic technology hasn’t changed in decades. Still, she often finds herself explaining to customers how it works.

How they work

Instead of using radiation to form a picture, like an X-ray, an ultrasound uses high-pitched sound. Think a whistle or tennis shoes squeaking on a basketball court.

We can’t hear the sounds emitted by an ultrasound machine, but its high-pitched sounds are better at reflecting back to the machine — and thus creating an image based on the echo — because the distance between sound waves is so tiny.

Henry says that while some parents initially believe that the ultrasound could hurt their baby, she notes that no studies have found ultrasound to be harmful.

Still, even though it acknowledges there’s no evidence of harm, the Food and Drug Administration recommends against getting these optional ultrasounds, warning that their long-term effects are unknown.

“Therefore, ultrasound scans should be done only when there is a medical need, based on a prescription, and performed by appropriately-trained operators,” the FDA said in 2014.

Henry is clear that she is not offering a medical service. In a doctor’s office, an ultrasound is done for medical reasons, like to estimate a due date or identify any potential problems.

Because they are optional — often referred to as “elective ultrasounds” — Henry’s services are not covered by health insurance and she does not estimate a due date.

Though Henr y could spot anomalies if there were any, she asks her customers to fill out paper work with information about their doctor so she could pass along any potentially concerning findings.

Not a doctor’s visit

With dimmed lights, soft music and a large monitor on the wall, the experience of getting an ultrasound at Baby’s First Photos is intended to be different from a medical setting.

For Kayla Olson of Trimont, a visit to the doctor’s office comes with stress and anxiety, though these ultrasounds are different.

“You’re not necessarily there to get poked and prodded, you’re there for the sole purpose of

MN Valley Business • OCTOBER 2018 • 17

getting fun pictures,” she says.

Seeing her baby was an emotional event, Olson says.

“You feel the movement, you feel the kicks but when you actually see what she is and how far she’s come, it’s just kind of a realization that, ‘Wow, this human is in me,” she said. There were tears, but happy ones.

It was especially poignant because Olson, an only child, was able to bring her grandparents and introduce them to their first grandchild.

Still, the baby doesn’t always cooperate.

When Brittany Godden of Fairmont went in for a 3-D ultrasound, her baby kept turning around or covering her face with her hands.

“She was pretty stubborn,” Godden says. So they came back another day, at no extra charge, and got some clearer pictures.

“It was cool to see the last ultrasound picture compared to what she looked like after she was born,” Godden says.

Worth 1,000 words

Most ultrasounds in doctor’s offices will produce twodimensional black-and-white imagery, and Henry’s business offers that option as well. But most customers prefer the more detailed three-dimensional pictures. They also capture video, sometimes referred to as “4-D” ultrasound.

Prices vary based on the type of ultrasound; they start at $99 for two-dimensional images and $129 for 3-D ultrasound. Customers receive printed pictures as well as a digital copy on a flash drive, CD or DVD. Olson had a baby shower in late August and set up a laptop so guests could watch video footage of her baby.

Many customers post their pictures on social media, a valuable source of publicity for the business. Henr y also purchases social media ads to find mothers who are searching about pregnancy or ultrasounds.

Before-and-after pictures showing three-dimensional ultrasound images next to postbirth pictures are especially persuasive for potential

customers, Henry says.

Keeping up

Five years ago, Henry says, she would never have guessed she’d be using a DNA test to determine a baby’s gender. In September, she held her first “DNA and Donuts” event to publicize the new offering and allow women to socialize over treats.

“Keeping up with the newest technology is critical,” she says.

She’s got plenty of room to grow; her nearest competitor is in

Bloomington, an hour’s drive away.

And, while she’s had the idea to expand locations in the back of her head for awhile now, it would pose challenges, in part because she’s a mom with kids at home.

She’s in no rush.

“It’s kind of fun to grow with society and its new trends and see where it goes,” she says. MV

LOCAL CELEBRITY Herman Dharmarajah, Ph.D., P.E., Mankato

Senior Principal Environmental Engineer

Herman provides innovation and education on environmental engineering. He was the process engineer for the first reverse osmosis water treatment facility in Minnesota, has conducted numerous pilot tests to reduce water contaminants, and was also a principal investigator for the national surface water study, which evaluated over 40 water treatment plants throughout the United States. And best of all, he’s been with Bolton & Menk for more than 30 years. How cool is that!?

We measure the value of innovation by the cost of the problem it solves.

18 • OCTOBER 2018 • MN Valley Business

Bolton-Menk.com

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MN Valley Business • OCTOBER 2018 • 19

Alex Oldenburg walks Windigo, a dog she is training, outside of Messy Dog.

‘Good boy’

MESSY DOG focuses on positive training

By Dan Greenwood | Photos by Jackson Forderer

A

lex Oldenburg formally trained and showed her first dog in the 8th grade as part of 4-H, a passion that would stay with her into adulthood. The Mapleton native and Mankato transplant began assisting with dog training classes for dog shows through 4-H before teaching her own classes.

Now the MSU graduate is celebrating two years of running MESSY Dog Training, a downtown business she started with fellow 4-Her Antonia Langr in 2016. The name comes from the names of the dogs who inspired them to become better trainers and pet owners. New opportunities this year led Langr to sell her half of the business to Oldenburg, who is in the process

Profile MESSY DOG TRAINING 127 E. Washington Street, Mankato 616-606-3779 messydogkato.com

of assuming full ownership.

Oldenburg has a specific mission behind how best to train dogs, whether that’s for dog shows, teaching tricks, or puppies learning how to behave.

“I wanted to offer classes with positive reinforcement dog training based in science and wasn’t able to find that in the Mankato area,” Oldenburg said.

With that, the two saw an

20 • OCTOBER 2018 • MN Valley Business

opportunity and a service they could provide. Between April and Sept. of 2016, MESSY Dog transformed from a concept to a reality. They leased a former auto mechanic shop at 127 E. Washington Street next to the Coffee Hag. In the evenings, the old garage fills up with an average of 20 dogs and their owners.

“She teaches you how to teach your dog,” explained student Layne Haroldson. “It’s supposed to be one-on-one, you with your dog and you develop that connection. She’ll learn our own strategies and develop them all into her training style that allows us to work on a personalized basis. She’s adaptable to her training technique.”

Haroldson, a high-school senior

from Amboy who is taking postsecondary classes at Bethany Lutheran College, met Oldenburg through 4-H when he was in the fourth grade. Haroldson said Oldenburg takes the approach of positive reinforcement using a device that makes a loud clicking noise when the dog demonstrates model behavior.

“She mainly teaches through clicker training,” Haroldson said.

“The click signifies to the dog that they did a correct behavior and they’re going to be rewarded with a treat.”

Social period

Oldenburg teaches a variety of classes with a capacity of eight dogs and their owners per class.

They range from basic socialization for puppies to teaching dogs tricks and skills for formal dog shows. Like humans, Oldenburg said that puppies have a critical period for socialization and learning.

“Puppies have a really critical socialization period that happens from the time they are about four weeks old until they are about 1216 weeks,” Oldenburg said “If they miss that there are a lot of problems down the road. That’s where we see a lot of dogs that are really fearful of things they were not exposed to. If we don’t take our dogs places when they are little and take them out to see things and have different experiences then they tend to grow up a lot more fearful because they didn’t have that exposure when they were young.”

The puppy experience class is geared towards exposing puppies to the unfamiliar. That can involve exposing them to new objects and getting them comfortable with new people and other dogs. The class is taught on a rolling admissions basis, allowing pet owners to enroll their puppies at any point before they reach 16 weeks of age.

As the puppies become dogs, they learn obedience skills like walking nicely on a leash, sitting, coming when called and remaining calm in public situations.

Train the brain

One aspect of dog training that

Alex Oldenburg gives Windigo, a 14-week old Nova Scotia duck tolling retriever, a kiss outside of Messy Dog. Oldenburg thinks is often overlooked is the need for exercising the dog’s brain. To do that, she uses different puzzle toys that you put food in. The dog searches for the food using scent and basic problem solving skills.

Oldenburg compares it to hide and seek with the dog using its nose. One technique involves the use of a snuffle mat. It’s a piece of rubber with holes in the bottom and a fleece tied to it. The dog has to snuffle around and find the

hidden treat.

“We’re really good a lot of times about thinking about the physical exercise that our dog needs – giving them walks, playing fetch – but a lot of people miss the mental component,” Oldenburg said. “This is why we get dogs that have problem behaviors of boredom and they chew things and they make up their own things to do because their brain was still ready to go.”

After getting a degree in biology

MN Valley Business • OCTOBER 2018 • 21

Windigo, a Nova Scotia duck tolling retriever, waits for a treat from his trainer Alex Oldenburg at Messy Dog in Mankato.

The Farm Store For Everyone!

• • • • • •

Farm Hardware Sprayer Supplies Animal Feed Fencing Clothing Footwear

“A lot of the local vet clinics recommend us,” Oldenburg said. with a concentration in zoology, Oldenburg thought hard about going to veterinary school. She decided against it because of the massive student debt it would accrue. She attends seminars and leans on her formal education and current theories about animal behavior when teaching her own classes.

That background also helps to get the word out to pet owners through the local vet community.

“A lot of the local vet clinics recommend us,” Oldenburg said.

22 • OCTOBER 2018 • MN Valley Business

Alex Oldenburg tries to pull a toy out of Windigo’s mouth while she trained the puppy at Messy Dog in Mankato. Oldenburg said dog training is not a licensed profession, but she gained experience in dog training during 4H. “We’ve gone around and talked with all of them, explained this is why we train the way we do. Our training falls in line with the American Veterinary Society of Animal Behavior. It follows their recommendations for the use of punishment and the use of dominance in dog training. As veterinarians with interest in behavior, they really like recommending us to their clients because we do follow those guidelines.”

For Oldenburg, that means focusing on the positive instead of the negative when working with both dogs and their owners.

“We’ve come a long way from our understanding of dominance and we’ve found that’s not really how dogs think and learn best.

They learn best in a rewards based system when we’re focusing on teaching the dogs what we do want, rather than telling them ‘don’t do this.’ We really focus on using rewards and trying to get the best behaviors out of our dogs and minimizing the use of any punishment.” MV

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MN Valley Business • OCTOBER 2018 • 23

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24 • OCTOBER 2018 • MN Valley Business

Energy Peripheral devices consuming more electricity

Results from the 2015 Residential Energy Consumption Survey show that televisions and related peripheral devices—such as digital video recorders (DVRs), video game consoles, and streaming devices—consumed 7 percent of the electricity used in American homes.

Peripheral device consumption accounted for slightly less than half of this electricity consumption, collectively using almost as much energy as televisions.

The new data also provide insights into the consumption of the most-used and second-mostused TV in a home. RECS asks respondents detailed questions about their two most-used televisions.

In homes with more than one TV, the most-used TV consumed more than twice as much electricity as the second-most used TV. In addition, energy consumption of the most-used TV was higher in homes that had more than one TV. In homes with more than one TV, the most-used TV tended to be larger and was turned on for more hours each day.

Of other devices surveyed, DVD and Blu-ray players were the most common, present in 61 percent of homes. Cable or satellite boxes without DVR capabilities were the second-most common, found in half of all homes. Separate DVRs were the least common, present in only 7 percent of homes.

Retail/Consumer Spending Vehicle Sales Mankato — Number of vehicles sold - 2017 - 2018 1500

1,011

1,311

1200

Wind power passing hydroelectricity

Hydroelectricity represented the largest share of electricity generation among renewable sources in 28 states in 2007 but retained that status in only 19 states in 2017 as wind and solar became more common. Wind was the most prevalent renewable electricity generation source in 16 states in 2017, and solar was the most prevalent renewable generation source in 7 states.

The shares reflect the portions of the total utility-scale electricity and small-scale solar photovoltaic electricity generated in each state.

Hydroelectricity was the most prevalent electricity generation source in six states based on annual data for 2017. In 2017, Washington had the largest hydroelectricity share at 72 percent of the state’s total electricity generation.

For the United States as a whole, hydroelectricity was the highest renewable electricity generation source in 2017, providing 7 percent of the national total. By 2019, wind generation is expected to surpass hydro.

Natural gas stocks down

The Energy Information Administration forecasts that U.S. natural gas inventories will total 3.3 trillion cubic feet at the end of October. This level would be 13 percent lower than the 2017 end-of-October level and 14 percent below the five-year average for the end of October, while also marking the lowest level for that time of year since 2005.

EIA expects Henry Hub natural gas spot prices to average $2.99/million British thermal units in 2018 and $3.12 in 2019.

CO2 emission rising

After declining by 0.9 percent in 2017, EIA forecasts that U.S. energy-related carbon dioxide (CO2) emissions will rise by 2.3 percent in 2018.

The increase largely reflects higher natural gas consumption because of a colder winter and a warmer summer than in 2017. Emissions are forecast to decline by 0.9 percent in 2019. Energy-related CO2 emissions are sensitive to changes in weather, economic growth, energy prices, and fuel mix.

Gas-fired electricity growing

EIA expects the share of U.S. total utility-scale electricity generation from natural gas-fired power plants to rise from 32 percent in 2017 to 34 percent in 2018 and to 35 percent in 2019.

900 600 300 0

J

F

M

A

M

J

J

A

S

O

N

D

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)

- 2017 - 2018

600

$417

$417

500 400 300 200 100 0

J

F

M

A

M

J

J

A

S

O

N

D

Source: Sales tax figures, City of Mankato

Lodging tax collections Mankato/North Mankato

- 2017 - 2018

$55,189 $60,318

70000 52500 35000 17500 0

J

F

M

A

M

J

J

A

S

O

N

D

Source: City of Mankato

Mankato food and beverage tax - 2017 - 2018 175000 140000

$67,400 $58,900

105000 70000 35000 0

J

F

M

Source: City of Mankato

A

M

J

J

A

S

O

N

D

C. Sankey

MN Valley Business • OCTOBER 2018 • 25

■

Agricultural Outlook

By Kent Thiesse

I

Tariff aid payments help but don’t solve financial problems

n late August, USDA announced the details for a $12 billion “Trade Retaliation Mitigation” (farm tariff) aid package for 2018 to help offset the financial impacts on farmers that have been created by the ongoing trade disputes with China, Mexico, Canada and other countries. The aid package includes direct payments to producers of affected farm commodities, purchases of surplus commodities, and trade promotion programs. The biggest immediate impact to farmers will be the direct aid payments under the “Market Facilitation Program” (MFP) for soybeans, corn, sorghum, wheat, cotton, hogs, and dairy.

The MFP sign-up period began in September and continues through Jan. 15, 2019. MFP applications are made at local FSA offices, either in person or electronically via scanning, e-mail, or fax, or can be submitted directly on-line. Crop producers can make application for MFP program once they have completed their 2018 harvest and can verify their bushels of production. Acceptable crop production verification will be similar to other required yield verification through FSA or federal crop insurance. The verification documents are not required with the MFP application.

The crop MFP payment rates are: $1.65/Bu. for soybeans, $.01/ Bu. for corn, $.14/Bu. for wheat, $.86/Bu. for sorghum, and $.06/ lb. for cotton.

Payments for dairy producers will be based off the historical

milk production levels that have been reported to FSA offices under the Margin Protection Program (MPP) for dair y producers. Payments to hog producers will be on a per head basis, based on the number of hogs owned on August 1, 2018.

Production records for hogs will include breeding records, inventory record, sales receipts, rendering receipts, and veterinary records.

The livestock MFP payment rates are $8.00/head for hogs and $.12/cwt. for dairy (milk).

The first MFP payment will be 50 percent of the calculated total payment, and is made to producers once the application has been verified by FSA. USDA will determine after December 1 if there will be a second payment and what the payment level will be, which again would be paid on the remaining 50 percent of the 2018 production levels (as calculated earlier). Local FSA offices are administering the MFP sign-up process, production verification, and other details for the program.

The MFP application form (CCC-910), the MFP fact sheet, and other useful information on the MFP program is available on a special USDA web site at: www. farmers.gov/MFP. Sonny Perdue, USDA Secretary of Agriculture, indicated that the MFP aid payments are intended to help farmers with the unintended lost farm income that has resulted from the ongoing trade disputes with other countries.

However, he has also stated

26 • OCTOBER 2018 • MN Valley Business

that the MFP program “will not make farmers financially whole again”. Many farm operators were either just barely at a breakeven margin level, or were scheduled to show a loss, from crop and livestock production at the projected market prices at the beginning of 2018. The decline in market prices due to the ongoing trade war, together with crop weather problems in some areas, has accentuated the anticipated negative profit margins for 2018.

The adjoining “2018 Crop Revenue Estimate Table” shows the estimated total crop revenue for corn and soybeans at an average crop insurance yield (APH yield) for 2018, a high yield (20% above APH) and a low yield (20% below APH), with local Fall crop prices of $3.15 per bushel for corn and $7.50 per bushel for soybeans. The Table includes MFP payment levels of $1.65/Bu. for soybeans and $.01/Bu. for corn, based on the actual bushels produced. The table assumes 80% RP crop insurance coverage, with estimated harvest prices (CBOT) of $3.60/Bu. for corn and $8.40/ Bu. for soybeans. The Table also shows the estimated profit or (net loss) per acre, based on average production costs for direct expenses, land rent and overhead costs of $675 per acre for corn and $475 per acre for soybeans, which includes $225 per acre for land rent. Obviously exact levels of production and land costs, crop insurance coverage, and final crop market price will vary from farm-to-farm.

A farm operator with an average corn and soybean yield (APH

2018 CROP REVENUE ESTIMATE COMPARISON TABLE ASSUMPTIONS:

• 2018 APH yields of 180 Bu./A. for corn and 50 Bu./A. for soybeans (80% RP policy).

• Market price of $3.15/Bu. for corn and $7.50/Bu. for soybeans (est. as of 9-01-18).

• Crop insurance harvest prices of $3.60/Bu. for corn and $8.40/Bu. for soybeans (est. on 9-01-18).

• MFP aid payment of $1.65/Bu. for soybeans and $.01/Bu. for corn.

• Initial MFP payment will be 50% after 9-04-18, and the other 50% after 12-01-18 (est.)

• Estimated 2018 cost of production of $675/A. for corn and $475/A. for soybeans.

(Including $225/A. for land rent.)

2018 CORN Est. Final Yield Est. Crop Revenue

AVE. YIELD HIGH YIELD LOW YIELD (APH Yield)

(APH Yield +20%)

(APH Yield -20%)

180 $567

216 $680

144 $454

Crop Ins. Payment

0

0

$52

8 Total MFP Payment

$2

$2

$1

$569 ($106)

$682 + $7

$507 ($168)

($3.15/Bu)

($3.60 Harvest Price) ($.01/Bu)

Total Est. 6 Revnue + or (-) Breakeven

($675/A. Costs)

4

2018 SOYBEANS 2 Est. Final Yield Est. Crop Revenue ($7.50/Bu) 0

J

F

Crop Ins. Payment

($8.40 Harvest Price)

Total MFP Payment

($1.65/Bu)

Total Est. Revnue + or (-) 8Breakeven

($475/A. Costs)

(APH Yield)

(APH Yield +20%)

(APH Yield -20%)

50 $375

60 $450

40 $300

A

0

M

J

J

0

A

S

O

N

$70

$82

$99

$66

$457 ($18)

$549 + $74

$436 ($39)

Corn prices — southern Minnesota

(dollars per bushel)

— 2017 — 2018

20

8 6

D

100

6 Table prepared

by Kent Thiesse

85 4 yield)70in 2018 will likely show a loss on cash rented

acres, 2unless they have marketed their crop at a 55 price, or they have lower operating and land higher costs.40The 2018 financial losses per acre can become 0 J F M for A crop M J producers J A S that O Nhave D quite significant experienced weather issues in 2018, which could 25 J F M A M J J A S O N D result in lower than average corn and soybean yields.

Those farmers that are fortunate to have very high yields in 2018 will likely be able to at least breakeven, or even show a small profit from their 2018 corn and 100 production, especially with the added MFP soybean payments for soybeans.

The85 MFP payments to farm operators certainly help ease the 70 financial hardship being experienced by farm operators in 2018, which has resulted from the ongoing 55 and tariffs, particularly for soybean and hog trade war producers. However, the MFP payments will not make up for40 the income loss that some farmers are likely to experience in 2018, especially in areas with crop 25 F M Aissues.

M JAn even J A bigger S Oconcern N D losses dueJto weather might be what will happen in 2019, if there is no resolution to the current trade disputes and commodity prices continue to remain quite low. This could create

16

$3.09

12

4

8

2 0

$2.93

J

F

M

A

M

J

J

A

4

S

O

N

D

0

J

Source: USDA

Soybean prices — southern Minnesota

AVE. YIELD HIGH YIELD LOW YIELD

M

Agriculture/ Agribusiness

— 2017 — 2018 8 20 100 16 6 85 12 470 8 255 4 40 0 0 J F M A M J J 25 J F M A M J J J F M A M J J Source: USDA

$9.01

$7.49 A S O N D A S O N D A S O N D

Iowa-Minnesota hog prices

25

$60.68

22 19 16

M M M

A M J A M J A M J

Milk prices

$37.89 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

— 2017 — 2018 25 22

$17.56

19 16 13 10

$15.07 J

F

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

185 pound carcass, negotiated price, weighted average

— 2017 — 2018

20 100 25 16 85 22 12 70 19 8 55 16 4 40 13 0 J F 25 10 J F J F Source: USDA

(dollars per bushel)

M

A

M

J

J

A

S

O

N

D

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 • OCTOBER 2018 • 27

13 10

J

J

Construction/Real Estate Residential building permits Mankato

Commercial building permits Mankato

- 2017 - 2018 (in thousands)

$3,800

18000

- 2016 - 2017 (in thousands)

$3,929

30000

13500

15000 10000

4500

5000

0

J

F

M

A

M

J

J

A

S

O

N

0

D

Source: City of Mankato

J

F

M

A

M

J

J

A

S

O

N

D

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

Existing home sales: Mankato region - 2017 - 2018 (in thousands) 228

300

Median home sale price: Mankato region - 2017 - 2018 (in thousands)

250

218

$179,450 $175,000

200

240

150

180

100

120

50

60

0 J

F

M

A

M

J

J

A

S

O

N

D

Source: Realtors Association of Southern Minnesota

J

F

M

A

M

J

J

A

S

O

N

D

Source: Realtor Association of Southern Minnesota

Interest Rates: 30-year fixed-rate mortgage

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

Housing starts: Mankato/North Mankato

— 2017 — 2018

- 2017 - 2018

5.5

50

5.0

4.6%

40

4.5

15

30

4.0

14

20

3.5 3.0

$17,848

20000

9000

0

$1,261

25000

3.7% J

F

M

A

M

J

J

10 A

S

O

N

Source: Freddie Mac

D

0

J

F

M

A

M

J

J

A

S

O

N

D

Source: Cities of Mankato/North Mankato

Agricultural Land Sales & Auctions • Farm Investments Consultations & Management • Hunting & Recreational • Appraisals

Read us online!

28 • OCTOBER 2018 • MN Valley Business

THE LAND REPORT, the magazine of the American Landowner, has named Wingert Realty & Land Services, Inc. “America’s Best Brokerages” and “Top Auction Houses” in the U.S.A.!

1-800-730-LAND (5263) • www.WingertRealty.com 1160 Victory Dr. S., Suite 6 • Mankato, MN 56001

Gas Prices

5

Gas prices-Mankato

— 2017 — 2018

54 43 $2.61

32 21 10 0

J

F

M

A

M

J

J

A

S

J

F

M

A

M

J

J

A

S

$2.54

O

N

D

O

N

D

Gas prices-Minnesota

— 2017 — 2018

5 54 $2.69

43 32

10

J

F

M

A

M

J

J

A

S

O

N

D

M

A

M

J

J

A

S

O

N

D

C. Sankey

Source: GasBuddy.com

0

Kent Thiesse is farm management analyst and senior vice president, MinnStar Bank, Lake Crystal.

507-381-7960); kent.thiesse@ minnstarbank.com

$2.50

21

J

F

very serious financial challenges for some farmers heading into next year.

The agricultural trade agreements that currently exist took decades to become a reality.

Farm organizations and ag commodity groups have dedicated millions of dollars of financial and personal resources into developing the strong agricultural export markets that the U.S. has had with China, Canada, Mexico, and other countries. Most farm operators and others in the ag industr y appreciate the aid package being offered by USDA, but favor maintaining and enhancing strong trade relations with our current trading partners, in addition to seeking new trade partners, as the long-term solution for ag trade and future farm profitability.

Stocks of local interest

August 8

Sept. 12

Percent change

Archer Daniels

$50.25

$49.89

-0.7%

Ameriprise

$140.77

$141.41

+0.5%

Best Buy

$77.29

$78.28

+1.3%

Crown Cork & Seal

$45.15

$44.22

-2.1%

Consolidated Comm.

$11.02

$12.71

+15.3%

Fastenal

$57.29

$58.76

+3.0%

General Growth

$21.57

$22.06

+2.3%

General Mills

$46.48

$47.51

+2.2%

Itron

$64.50

$66.30

+2.8%

Johnson Outdoors

$97.70

$101.35

+3.7%

3M

$208.57

$206.71

-1.0%

Target

$82.24

$88.65

+7.8%

U.S. Bancorp

$53.30

$53.55

+0.5%

Winland

$1.26

$1.15

-8.7%

Xcel

$47.20

$48.59

+2.9%

Need help reaching the top?

507.344.6364

advertising@mankatofreepress.com

C. Sankey

MN Valley Business • OCTOBER 2018 • 29

Minnesota Business Updates

■

a $40.3 million project in Faribault.

Approximately 132 jobs are expected to be created.

The Plymouth-based subsidiary, which manufactures heating, ventilation and air condition systems, said it will purchase an existing 300,000-square-foot warehouse in Faribault and renovate it into a state-ofthe-art production facility.

Daikin Applied currently employs 900 people at facilities in Faribault and Owatonna.

■ General Mills expands leave Moms and dads, including partners and adoptive parents, who work at General Mills will get more time to bond with their babies while those with an aging parent or seriously ill family members will get paid time off to care for them.

The Star Tribune reports that the Golden Valley-based food maker unveiled an expanded paid time off policy for new parents and family caregivers, designed to keep the company competitive among peers at a time when workers increasingly value policies that help them better manage demands at work and in their personal life.

All new parents will get 12 weeks paid time off, with new birth moms getting an additional six to eight weeks for their physical recovery for a total of 18 to 20 weeks.

Additionally, caregivers will now receive two weeks paid time off every year to deal with immediate family members struggling with serious health conditions. All of the new time off is at full pay.

■ Best Buy sees growth Best Buy said its sales grew 6.2 percent in the second quarter and raised its outlook for the rest of the year, continuing a rally among many of the nation’s leading retailers as they head into the crucial holiday season.

The company now expects same-store sales on the year to rise 3.5 to 4.5 percent, compared to the previous forecast of a flat 2 percent. It edged up its forecast for earnings per share to $4.95 to $5.10, an increase of 5 to 10 cents.

But executives said operating profit would decline as it spends more on operations, including training and technology, particularly in the third quarter.

Chief executive Hubert Joly said the sales growth — its largest quarterly growth in 15 years — was helped by a favorable consumer environment, and “driven by how

■ Faribault sees expansion Japanese air conditioning and heating systems maker Daikin Industries Ltd. is expanding the footprint of its American subsidiary Daikin Applied Americas Inc. with

Employment/Unemployment Initial unemployment claims Nine-county Mankato region Major July Industry 2017 2018 Construction Manufacturing Retail Services Total*

86 133 24 108 351

Local non-farm jobs Percent change ‘17-’18

67 161 39 163 430

126,669 137,721

139000 126000

2100 1400

113000

700 100000

Minnesota initial unemployment claims

J

F

M

A

M

J

J

A

Minnesota Local non-farm jobs

Major Industry 139000 139000

2017

2018

Percent change ‘17-’18

Construction 126000 126000 Manufacturing Retail 113000 Services 113000 Total*

2,337 2,106 623 3,216 8,282

2,545 1,998 888 3,223 8,654

+8.9% -5.1% +42.5% +0.2% +4.5%

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

30 • OCTOBER 2018 • MN Valley Business

3500 2800

-22.1% +21.1% +62.5% +51.0% +22.5%

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.

July

- 2017 - 2018

Nine-county Mankato region

(in thousands)

8000 3500 3500 6000 2800 2800 4000 2100 2100

S

O

N

D

D

N

D

0

J

- 2017 - 2018 2,987 3,052

2000 1400 1400

700

0

700 0 J F M A M J J A S O N D 0 J F M A M J J A S O N D J F M A M J J A S O N D

200000 150000 100000 50000 0

J

O

O

consumers are responding to the unique and elevated experience we are building.”

digital transactions were up 6.5 percent during the second quarter compared with a year ago.

With consumers finally starting to show some confidence amid the nation’s longest-ever bull market rally, Target Corp. raised its profit outlook for the year.

“Target is clearly capitalizing on a stronger consumer backdrop, seasonal drivers and market share opportunities,” Credit Suisse analyst Azar Boehm wrote in a note to investors.

■ Mayo joins consortium Mayo Clinic has joined seven other major U.S. health system in a nonprofit consortium that will make generic drugs sold at lower prices.

The Rochester Post-Bulletin reports that the new company, called Civica RX, hopes to begin selling drugs beginning in mid-2019 at prices 20 to 30 percent below the market. The company is based in Utah.

The consortium members will have to pay a combined $200 million to launch the organization, and CEO Martin VanTrieste (formerly the chief quality officer for Amgen Inc.) won’t be paid. Mayo will serve on the governing board with Intermountain, Catholic Health Initiatives, Hospital Corporation of America, Providence St. Joseph Health, SSM Health, and Trinity Health.

■ Wilfs plan new hotel

139000 A development company owned by the Wilf family,

which owns the Minnesota Vikings, plans to build a 320-room four-star hotel and conference center in 126000 Eagan.

The project pitched by MV Eagan Ventures would be part of the evolving 200-acreViking Lakes development.

113000 It utilizes large portions of the former Northwest Airlines headquarters, according to Minnesota Public Radio.

100000 Plans already J F called M A for M Viking J JLakes A to S include O N more D than 3 million square feet of corporate office, medical, retail, entertainment and multi-family housing — all anchored by a new headquarters and training facility for the Minnesota Vikings.

■ Target sales up 139000 126000 113000 100000

Target shoppers are back in stores and clicking online in record numbers, providing the company with the largest boost in sales in 13 years.

The Star Tribune said the Minneapolis-based retailer reported that combined sales of in-store and

139000 126000 113000 100000 J F

J M

M J

J A

J S

1400 2000

N

D

A O

S N

O D

6000

4,314 3,574

4000

J F M A M M A M J J M A M J J

J A A

J S S

A S O N O N D O N D

106,122 85,440

100000 50000 J

F

M

A

M

J

J

A

S

O

N

D

1400 700 0

4000 1400

100000

700 2000

50000

0 0 J F JM

J

F M A M AJ FA M

M MJ

J JA

J JS

A AO

S N S

O D O

N N

D D

Mankato/North Mankato Metropolitan statistical area (includes all of Blue Earth and Nicollet Counties) 200000 150000

July

100000

D

0

J

0 F

J M

F M A A M J

M J

J A

2017

2018

3.0% 56,723 1,758

2.3% 61,098 1,409

J S

A O

S N

O D

N

D

Unemployment rates Counties, state, nation County/area

- 2017 - 2018

2100

J

150000

Unemployment rate Number of non-farm jobs 50000 50000 Number of unemployed

150000

0

D 0

100000

200000

D

700

150000

2000 0 F F

1400

200000

Minnesota number of unemployed

N

N

8000

700 0 J 0 J

2100

- 2017 - 2018

Nine-county Mankato region

4000 2100

2800

2800

200000

Employment/Unemployment

F M A A M J

Local number of unemployed 8000 3500 6000 2800

3500 8000 2800 6000 2100

3500

3500

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

July 2017

July 2018

3.1% 3.2% 3.7% 3.6% 3.5% 2.8% 3.0% 3.0% 4.0% 3.3% 3.3% 4.6%

2.4% 2.9% 2.7% 2.9% 3.2% 2.0% 2.3% 2.3% 3.4% 2.4% 2.7% 4.1%

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

initial •unemployment MNMinnesota Valley Business OCTOBER 2018 claims • 31

0

J

Sponsored by the Carl & Verna Schmidt Foundation

Consider your options for 529 savings plans

I

By Sarah Skidmore Sell | AP Personal Finance Writer

t’s back-to-school time and let’s face it – education can be expensive.

The College Board reports that the average cost of in-state tuition, fees, room and board at a public four-year college in the U.S. was $20,770 last year. And that’s just a starting point – out-of-state tuition, private universities or graduate school can greatly increase that bill.

Yet relatively few people are aware of 529 savings plans, which can help cover costs. A recent survey by Edward Jones found that 71 percent of Americans don’t even know what it is.

A 529 is a tax-advantaged investment plan that was originally designed to save for higher education expenses. Recent changes in the tax law have increased their flexibility, and they now may be used for privateschool tuition from kindergarten through high school, or transferred to other accounts to pay expenses for disabled youths.

HOW THEY WORK While anyone can set up a 529 plan, typically they’re opened by parents or grandparents with a child as the beneficiary.

Contributions to the plan grow free from federal income tax, and withdrawals are tax-free when used for qualified expenses. It costs very little to get started and often can be done online.

“There is no better place to save for college than a 529 college savings plan,” said Ric Edelman, founder of Edelman financial services in Fairfax, Virginia.

The plans are run at the state level. While you don’t need to use your state’s plan, there are sometimes state-level tax incentives for doing so.

HOW TO USE THEM

Money in these accounts can be used at virtually any accredited college in the country and may be used to pay for tuition, books, supplies or other expenses.

They can also be used to pay for technical schools and other professional programs.

The recent federal tax law overhaul expanded their use beyond higher education. Users can now withdraw

32 • OCTOBER 2018 • MN Valley Business

up to $10,000 per year and per beneficiary to pay tuition expenses from kindergarten through 12th grade.

It seems like a great option for families paying for private school. But not all states allow use of these accounts for K-12 expenses, so withdrawals might be exempt from federal tax but subject to state tax.

Financial experts also recommend you think twice before doing so, because the primary benefit of a 529 plan is that the money grows on a tax-deferred basis.

That means the money needs time to grow, Edelman said. Given the exorbitant cost of higher education, most families will “need to start putting money in when the baby is born and not touch it until the kid is a senior in college.”

Another new change for 2018 is that money in a 529 account can be rolled over penalty-free into an ABLE account. ABLE savings accounts are relatively new and look very similar to a 529, but the assets are used to help pay expenses for young people with disabilities.

HOW TO MAKE THE MOST OF THEM

You don’t have to be an expert to get started. The plans are professionally managed and sign up and investment choices are easy to manage, said Jim DiUlio, chair of the College Savings Plan Network.

Starting early is best, but it’s never too late to start, DiUlio said.

“If you have cash in hand in savings, those are dollars you don’t have to borrow and pay for at the other end,” DiUlio said.

The savings can be transferred to another family member or you can use it yourself. But if you don’t spend it on education, you will pay a penalty and taxes.

Laurie Beth Baird, a wealth strategist for PNC Wealth Management, said that families worried about setting too much aside should aim to save 50 to 80 percent of their costs.

Contribution limits are set at a state level but experts say it’s not really an issue as the limits are rarely reached. And there is no limit on how many accounts may be set up per child, meaning anyone can help. MV

Sponsored by the Carl & Verna Schmidt Foundation

New ways to pay: Installment payments with a twist

By Anne D’Innocenzio | AP Retail Writer

N

ew kinds of installment plans are offering options to shoppers who may remember layaway as something their parents or grandparents used.

The payment businesses, many of them startups, are working with companies like Urban Outfitters or Expedia to give shoppers an alternative to traditional credit cards. While layaway plans were getting used again during the Great Recession, their popularity has faded as shoppers don’t want to wait for their purchases.

The payment firms say they appeal to younger shoppers. “For them, it’s more like a budgeting mechanism,” says Nick Molnar, co-founder and CEO of Afterpay. “It means it’s more manageable to them.”

Afterpay, which launched in the U.S. in May, hopes to replicate its adoption in Australia, where it says it processes more than 25 percent of all online fashion and beauty transactions. Another company, Affirm, claims 1.5 million active U.S. users. Even American Express is jumping into the game.

Shoppers who use the new payment options are likely to spend more compared to when they use traditional forms of payment, says Tyler Higgins of the consulting firm AArete. The installment plans may also help stores prevent abandoned carts by offering other ways to pay. And many of the payment firms take on any fraud risk, says Forrester Research’s Brendan Miller. But experts caution the new plans could also be encouraging customers to stretch for purchases they can’t really afford.

HOW IT WORKS

Many of the new plans are basically mini-loans shoppers can take out for specific purchases when checking out at stores and online sites that participate.

The payment firms are promoting themselves on the front pages of the retail and travel websites they’re working with, and people can decide when they’re ready to buy something if they want to try it out.

WHAT CAN I BUY?

Retailers like Casper, Wayfair, and Expedia work with Affirm. Afterpay works with names like Urban Outfitters and the online site Revolve.

Meanwhile, a company named Uplift has teamed up with travel partners such as American Airlines Vacations and Southwest Vacations and with Universal Orlando resorts.

American Express’ Pay it Plan option, available on its mobile app, allows customers to pay in installments for purchases of $100 or more.

WHAT ABOUT CREDIT CHECKS?

The new payment firms don’t do traditional credit checks but use several pieces of data. Both Uplift and Affirm asks for the last four digits of customers’ Social Security numbers. Afterpay doesn’t ask for the social security number but looks at how long people have lived at their addresses and their buying histories. The “loans” are approved or rejected in seconds or minutes.

FEES?

They vary. Affirm says for many fashion purchases, shoppers pay no interest. For others, it could be 10 percent to 30 percent based on customers’ credit. It doesn’t charge late fees, service fees or prepayment fees. Shoppers can choose a payment schedule over a period of months.

Afterpay requires customers to pay every other week in four payments. A missed payment draws an $8 fee every time, while late fees cap at 25 percent of the price. Afterpay also charges from 4.5 percent to 6percent fees to the retailers, but doesn’t charge interest to shoppers.

Uplift sets interest based on how it judges a person’s credit worthiness. A $1,500 trip broken down into 12 equal installments would average about $10 in extra interest per month, according to founder and CEO Brian Barth. There are no late fees.

At AmEx, customers pay a fixed monthly fee based on their credit card’s annual percentage rate, but no interest charge.

WHAT TO WATCH FOR

Know the upfront fees. Stick to a budget. And keep in mind that these companies reserve the right to report bad behavior to credit bureaus. “You can’t overextend yourself,” said Miller. MV

MN Valley Business • OCTOBER 2018 • 33

SAVE THE DATE Thursday, December 6 The 36th Annual Rural Legislative Forum brings key public leaders with a wide-range of attendees from the agriculture sector – from producers to manufacturing, to professional services, to education and research – in candid conversations about critical issues facing the rural economy and potential solutions.

Learn more or sign up for sponsorship opportunities at greenseam.org/rural.

2019 PATHFINDER AWARD NOMINATIONS Martin Luther King, Jr. Community Celebration Nominations Deadline: November 20, 2018!

The Pathfinder Award honors individuals, organizations or businesses who, in the spirit of Dr. Martin Luther King, Jr., are initiators or action takers in the struggle for equal treatment, human rights and non-violence.

Co-sponsored By:

Event to be held January 21, 2019.

Find out more at: mankatodiversity.org

34 • OCTOBER 2018 • MN Valley Business

Eligible nominees can be but are not limited to community and/or service projects or faithbased projects or organizations. There also is no time restriction for when the program or event took place or whether it was a one-time event or ongoing program. Nominees must be located in Greater Mankato (Mankato-North Mankato and the surrounding communities).

This event is organized by the Martin Luther King, Jr. Commemorative Board.

10.27.18

WHY JOIN C ity Center Partnership is teaming up with Minnesota State University Maverick Hockey to present Hockey Night in the City Center EXPOSURE on Saturday, October 27.

Build your Brand; grow yourfeaturing business.

Hockey Night is a fan-friendly celebration Stand out and get live music, kids’ activities and the highly-anticipated noticed!

mechanical bull! There’s also great food and beverages available. The festivities start at 4:30 pm and continue right up to the puck drop.

The party is held on the Civic Center Plaza; it LEARNING features a permanent and abundant space for Gain access ccesstage to Member vendors, games and the bounce house, as well as Exclusive Content to help hundreds of grow fans.your business.

GREATER MANKATO both the men’s and women’s programs moving fulltime to new facilities built on the west side of the GROWTH? building. Besides locker room facilities and offices,

the Verizon Center also features a new weight room, athletic training and equipment facilities, and NETWORKING TW WORKING ORKING player and alumni lounge areas. Minnesota State It’s not just st WHO WMankato HO you ou hockey players are training, University, know, it’s who knows k studying and playing in the City Center, bringing YOU. Networking IS energy Powerful.and excitement to our downtown.

All

BE IN THE KNOW are Welcome

ReceiveON our member only NIGHT! JOIN THE FUN HOCKEY emails making you the first to

October know the latest news. 27 MEMBER Saturday, 4:30 - 7:00 pm Over the past few years, Maverick HockeyEXCLUSIVE Civic Center Plaza has increased its City Center presence and TALENT REFERRALS commitment. In 2015, the Verizon Center indeed BENEFITSSponsoredWeby:only refer member RETENTION became the home for Minnesota State Hockey with Keep your employees engaged and retained with access to our member only events and programs.

businesses. Word of mouth and direct referrals come from being a valued member of GMG.

You’re Invited SHAPE YOUR CREDIBILITY Raise your reputation by COMMUNITY belonging.

Research shows

Your investment helps us

BUSINESS AWARDS

and

HALL of FAME

that businesses belong continue to build the best Tuesday, November 13, 2018 of who to a chamber commerce environment for your Verizon Center, Ballroom business and its employees. are more successful.

The Greater Mankato Business Awards & Hall of Fame is Greater Mankato’s premier business awards event.

This event is a time where Greater Mankato Growth, Visit Mankato, City Center Partnership and GreenSeam honor the outstanding businesses, professionals and organizations within the Greater Mankato community.

NEW: This year we will be presenting three GreenSeam awards and the Hall of Fame Legacy Award. The Legacy Award honors private sector businesses that have been in business in the Greater Mankato region for 10 or more years and have previously received the Hall of Fame designation.

greatermankato.com/join Register at greatermankato.com/hall-fame.

April 2018

SPONSORED BY:

MN Valley Business • OCTOBER 2018 • 35 greatermankato.com/join

RIBBON CUTTING

NEW BUSINESS

Bella Nova Boutique 512 North Riverfront Drive, Mankato

Genoa Pharmacy 309 Holly Lane, Mankato

RIBBON CUTTING

RIBBON CUTTING

Hillcrest Therapy Gym 714 Southbend Avenue, Mankato

SERVPRO of Mankato/Owatonna 1653 Stadium Lane, Mankato

Birchwood Cottages 1630 Lor Ray Drive, North Mankato

Commercial Janitorial Systems LLC 126 South Belmont Drive, Mankato

Cultivate Mankato 227 East Main Street, Mankato

MankatoLIFE.com 514 Wheeler Avenue, North Mankato

GROWTH

in Greater Mankato

NEWEST

SERVPRO of Mankato/Owatonna 1653 Stadium Lane, Mankato

36 • OCTOBER 2018 • MN Valley Business

Greater Mankato Growth Members

7:30 - 9:00 am

5:00 - 7:00 pm October 2

Sesquicentennial Event in collaboration with the Mankato Brewery and Radio Mankato at the brewery (4 - 8 pm) Children’s Museum of Southern Minnesota J. Longs for Men

WHY JOIN

November 6 December 4

EXPOSURE

2018 Business After Hours Sponsored by:

Build your Brand; grow your business.

Stand out and get noticed!

August Business Before Hours hosted by

Maschka, Riedy, Ries & Frentz Law

October 17 November 14 December 19

GREATER MANKATO GROWTH?

NETWORKING TW WORKING ORKING It’s not just st WHO WHO you ou know, it’s who knows k August Business Before Hours hosted by YOU. Networking IS LIV Aveda Powerful.

BE IN THE KNOW

LEARNING

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

TALENT RETENTION

MRCI Affinity Plus Federal Credit Union Nesbit Agency

MEMBER EXCLUSIVE BENEFITS

Receive our member only emails making you the first to know the latest news.

REFERRALS

We only refer member businesses. Word of mouth Keep your employees and direct referrals come engaged and retained with frombusinesses being a valued access to Before our member onlyrepresentatives from Greater Mankato Growth member Business After and Business Hours gives at the Engaged Level or member of GMG. higher an opportunity to get together with one another to exchange ideas and learn about each other’s businesses.

For more information on these events and programs. and other member events, visit greatermankato.com/events.

SHAPE YOUR CREDIBILITY Raise your reputation by COMMUNITY belonging.

Research shows

VOTE FOR PEOPLE’S CHOICE Your investment helps us continue to build the best environment for your business and its employees.

2017 Winner “Maestro” - Lee Leuning & Sherri Treeby

that businesses who belong to a chamber of commerce forget are more on’t successful.

D

to vote for your favorite sculpture. Ballots are available in the marked boxes along the Walking Sculpture Tour route; they may also be picked up at the Visitor’s Center in the Graif building at 3 Civic greatermankato.com/join Center Plaza, Suite April 2018 100 and at Twin Rivers Council for the Arts. Vote online at citycentermankato.com/sculpturevote.

Voting closes on October 31, 2018, and the winner will be announced at the Greater Mankato Business Awards and Hall of Fame on November 13.

MN Valley Business • OCTOBER 2018 • 37 greatermankato.com/join

MANKATO MARATHON WEEKEND

SOMETHING FOR EVERYONE!

By Katie Adelman, Marketing and Communications Coordinator

I

t’s almost that time again, Mankato Marathon weekend is upon us! Come out and show your support, run, walk, volunteer or be a part of a cheer team. There is something for everyone including a variety of weekend activities accompanying all the great races.

The Mankato Marathon, presented by Mayo Clinic Health System, continues to receive recognition as a premier race. It’s been named a Top 20 Half Marathon in the country for the second year in a row in The BibRave 100 list. There’s a race for every runner: from the full marathon to the popular 10K to the porkinspired 5K. Even the kids can start running early on with the KidsK, Toddler Trot and Diaper Dash.

The Mankato Marathon is known for its mental support throughout the course. The Sport Psych Team is a group of trained professionals, including sport psychology consultants, psychologists, sport psychologists, counselors and graduate students who provide participants with mental strategies and tips to help runners reach their full potential while on the course. Strategically-placed cheer teams motivate and inspire runners to the finish line with cheers, music and encouraging words. The Service Leadership Program will once again motivate the Mankato Marathon runners through Sibley Park, one of the more mentally difficult course areas. A

38 • OCTOBER 2018 • MN Valley Business

multitude of spectators also line the course and help cheer on runners.

The Scheels Sport & Health Expo is open October 20, for everybody to enjoy. A wide range of exhibitors and vendors offer varying services to athletes and shopping for everyone. Kids can burn off energy in the Kidz Zone, complete with indoor rock wall, inflatables, bowling, face painting and Knocker Ball.

Showcasing running expertise is the Orthopaedic & Fracture Clinic (OFC) Speaker Series at the Mankato Marathon Scheels Sport & Health Expo. This year, fan-favorite Dick Beardsley returns to the OFC Speaker Series stage as the keynote presenter. He is referred to as a running legend in the United States.

Dick is best known for his incredible race in the 1982 Boston Marathon, at which he finished 1.6 seconds after Alberto Salazar, who broke the American record time. After retiring from running, Beardsley endured a series of near-fatal accidents that left him addicted to painkillers. Beardsley turned his life around and continued running. He hosts running camps and offers online coaching in efforts to help people reach their fitness goals.

For more information on the Mankato Marathon October 20-21, visit mankatomarathon.com.

SATURDAY, OCT. 20

THINGS TO DO

Sport & Health Expo / Speaker Series / Kidz Zone

11 a.m. to 6 p.m.

Toddler Trot AGES 2-5 Diaper Dash AGES UNDER 24 MONTHS KidsK AGES 6-12 5K 3.1mi

1 p.m.

1:10 p.m.

2:45 p.m.

4 p.m.

WHY JOIN

GREATER MANKATO 10K GROWTH? 26.2mi/4 26.2mi 13.1mi

SUNDAY, OCT. 21 7:30 a.m.

EXPOSURE

6.2mi

8 a.m.

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FULL MARATHON

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BE IN 2018 MN SENIOR THE KNOW LEARNING GAMES RECAP Gain access cces to Member Receive our member only Exclusive Content to help emails making you the first to grow your business. know the latest news.

By Katie Adelman, Marketing and Communications Coordinator

TALENT RETENTION

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

REFERRALS We only refer member businesses. Word of mouth and direct referrals come from being a valued member of GMG.

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RUNNING TABLE TENNIS TRACK & FIELD Your investment helps us CONTEST that businesses who belong continue to build the best of commerce environment for yourGames to a chamber of hotel rooms booked. Visit Mankato implemented ith two years of hosting the MN Senior are more successful. business and its employees.

CYCLING

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MeetingMax—a reservation software to manage event and tournament hotel room bookings—during this year’s MN Senior Games. Through a survey, 27 percent of competitors confirmed staying in hotels, with 59 rooms booked through MeetingMax.

under its belt, the Mankato Sports Commission is passing the torch along to St. Cloud, the host site for the 2019 and 2020 Games. Here’s a recap of 2018 and a look ahead to 2021: 1.

2.

More than 560 athletes descended on Mankato for the national-qualifying MN Senior Games August 16-19. Approximately 480 were Minnesotans and 22 other states were represented. While the weekend featured more than 20 sports and about 75 total events, the most popular games were pickleball, track & field, cycling, table tennis and swimming.

3.

Overall the MN Senior Games’ estimated economic impact was $219,231.

The MN Senior Games will return to Mankato for a twogreatermankato.com/join year stint in 2021. For more information about the MN April 2018 Senior Games, visit MNSeniorGames.com.

During the four-day event, Mankato hotels saw an average occupancy rate of 82 percent and a demand range of four - 34 percent in the number

MN Valley Business • OCTOBER 2018 • 39 greatermankato.com/join

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list of peer reviewed publications will help in taking the accounting program forward. Pitre earned his Ph.D. in accounting from Michigan State University. His research interest includes financial disclosure issues and the impact they have on investor’s decision-making processes.

Minnesota State University, Mankato College of Business announces Dr. Pitre as the first Allen and Kathy Lenzmeier Endowed Chair in Accounting

Allen Lenzmeier ‘65

Terence J. Pitre. Ph.D

The College of Business leads the University with the first ever endowed chair. This endowment would not be possible without external funds from Allen and Kathy Lenzmeier. Allen Lenzmeier ‘65 earned his degree in accounting and went on to become a CPA and retired in 2009 as President, Chief Operating Officer and Vice Chairman of electronic retailer, Best Buy. When asked why this endowed chair position would benefit the College of Business, Lenzmeier states “it would be an indication that this is a place that’s really serious about teaching accounting and would allow Minnesota State Mankato to be included in the top business schools.”

Dr. Pitre most recently served as visiting professor at Miami University Farmer School of Business and prior to that with California State University, Sacramento and Saint Mary’s College, CA. He is not new to Minnesota, however, he spent seven years with the Opus College of Business at the University of St. Thomas where he was the Deloitte Faculty Fellow and Associate Professor. His outstanding academic credentials and extensive

College of Business Dean, Brenda Flannery says of Dr. Pitre, “Terence has outstanding academic credentials, industry and military experience and stellar teaching recommendations.

We are thrilled to have Dr. Pitre a part of the College of Business.”

About Minnesota State Mankato College of Business To learn more about Minnesota State Mankato College of Business, visit cob.mnsu.edu, Or “like” us at Facebook.com/ COBMankato, or follow us on Twitter @COBMankato

Minnesota State University, Mankato College of Business

Accounting scholar and outstanding educator Terence J. Pitre, Ph.D., has been named the first Allen Lenzmeier Endowed Chair of Accounting and Business Law at Minnesota State University, Mankato College of Business for the 2018-19 academic year. This first ever endowed chair was recently established to elevate the recognition and identity of the Department of Accounting and Business Law in the College of Business. Dr. Pitre will enable the Department, College, and University to broaden and deepen relationships with the business community, expand relationships with aspirant accounting programs through professional associations and accreditation, and will attract and retain exceptional faculty leaders.

MN Valley Business • OCTOBER 2018 • 41

KEEP YOUR EMPLOYEES HEALTHY.

Mayo Clinic Health System Occupational Medicine offers the services you need to help keep your employees healthy and safe.

• DOT physicals

• Injury care

• Medical surveillance

• Pre-employment exams

Mayo Clinic Health System in Mankato Call 507-594-7370 to learn more. mayoclinichealthsystem.org

MN Valley Business • OCTOBER 2018 • 42