Tag Archive | "Twin Cities"

Something else Minnesotians can brag about.

It appears that CNNMoney compiled a list of the Top 25 places to live. And Five suburbs of the Twin Cities have made the list. Now I don´t always agree with these lists (in fact – rarely) that continually come out, but that being said, it does say something that FIVE Minnesota cities made the national list of 25.

Eden Praire ranked third overall, beat out by only Mckinney TX and Carmel, IN for 2nd and 1st respectively. Some of the criteria used in the rankings included things like crime rates, health care quality, public education, and of course employment opportunities.

Also in the top 25 were Maple Grove coming in at #22, Lakeville at 19, Eagon at 14 and Woodbury (of course) with a ranking of 11.

A surprising statistic, to me anyway, was the #24 ranking Eden Praire had in the catagory of “top earning towns”. According to the survey, they have an $116,00 average family income and an average house price of $264,500. That’s a tad bit better than my neighborhood.

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850 more jobs going

General Mills employs about 35,000 people and 5,500 of those are in Minnesota. They have announced they are cutting 850 jobs and half of those cuts are going to be from the Twin Cities operation.

Sales for General Mills have increased 13% while the company has increased prices in an effort to keep up with rising inflation. CEO Ken Powell says this is the highest rate it has been in 30 years.

But even with the increased revenue, profits fell a bit due to the higher commodity costs.

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Minnesota jobs

The Twin Cities had amoung the lowest levels of unemployment in the nation. According to a study of data from the Bureau of Labor Statistics, The Cities ranked 3rd lowest unemployment numbers for this past October. The rate for the entire state came in at 6.4% while the Cities recorded a low 5.4% rate.

 

Only Omaha (4.3%) and Madison (5.1%) came in lower. Sounds like really good news – but what I haven’t seen yet is pay stats for all these jobs. My fear is that that they also rank lowest in pay compared to other States. I don’t want to jump to conclusions, but from what I’ve seen the “high” number of Minnesota jobs available in the area are lower paying. And while low paying jobs are better than no jobs at all, I just don’t want the area to become a magnet for low pay companies.

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Did Metro Commercial real estate demand bottom out in 2010?

Twin Cities commercial real estate market likely bottomed out during 2010, according to NorthMarq Real Estate Services’ annual Compass report issued Monday.

The report estimates there was 15.8 percent combined vacancy for all types of commercial office, industrial and retail properties at the end of 2010, down 0.5 percent from where it was at the end of 2009. It’s a big difference from 2008 to 2009, when overall vacancy jumped 3 percent.

Despite the results, NorthMarq reports that “fundamentals are still very weak across the office, industrial and retail leasing markets. Recent economic indicators such as the unemployment rate have not been overly encouraging, setting the stage for a slow rebound in 2011.”

The Twin Cities office market improved in the second half of 2010 for landlords, resulting in “modest, but encouraging” positive absorption of 202,000 square feet. Absorption is a change in the amount of total leased space from one point in time to another.

The vacancy rate for the office market was unchanged in the second half of the year at 19.9 percent, with four of the seven sub-markets in the Twin Cities maintaining vacancy rates over 20 percent.

Read the entire article at Minneapolis / St. Paul Business Journal.

Read more: NorthMarq: Metro real estate demand bottoms out |

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Jobless rate down in Twin Cities, but not rest of country

The Twin Cities was one of only two metropolitan areas in the U.S. where the March jobless rate was down year-over-year, according to new federal labor statistics.

The U.S. Department of Labor’s Bureau of Labor Statistics said Wednesday that 47 of 49 large metropolitan areas (with a Census 2000 population of at least 1 million) had higher unemployment rates in March 2010 than March 2009.

Only the Minneapolis-St. Paul-Bloomington area in Minnesota and Wisconsin, down six-tenths of a percentage point, and the Buffalo-Niagara Falls region in New York, down two-tenths of a point, beat the trend.

Read the rest here.

Other stories

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