The Pohlad Family Foundation has pledged $5 million to help small businesses in Minnesota survive the current economic crisis and be poised for recovery. The money will be distributed in partnership with Grow Minnesota!, the Minnesota Chamber of Commerce’s private-sector initiative aimed at retaining and creating jobs.
Small businesses will have access to grants to retain their employees while planning for and adjusting to their futures. Access to short-term, low-interest working capital and capital improvement loans also will be available to help continue operations and finance capital improvements consistent with a company’s growth plans.
Application deadline has passed.
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Grow Minnesota! is Minnesota's first purely private sector, statewide business retention and expansion program. Its primary goal is to strengthen and grow Minnesota's economy. Initiated by the Minnesota Chamber of Commerce in September 2003, Grow Minnesota! is carried out in partnership with local chambers of commerce from across the state. Almost forty local chambers were selected as our partners for 2006-2007, the fourth year of the program.
The Minnesota Chamber firmly believes the private sector must take the lead on retention visits giving economic development more "eyes and ears" statewide.
Under the leadership of the Minnesota Chamber and local chamber partners, Grow Minnesota! will promote statewide collaboration on growing Minnesota's economy.
Grow Minnesota! will improve the economic vitality of Minnesota by 1) Encouraging companies to remain and expand in Minnesota, 2) Establishing stronger ties between private sector companies and their business advocates, and 3) Recommending community and public-sector responses to the trends affecting the development of the state's economy.
Over time, Grow Minnesota! will assume the responsibility of marketing Minnesota to the nation and world.
Community: Faribault
Company:
Moventas, a Finnish company that manufacturers gearboxes for wind turbines.
Issue: The company was considering locating an assembly and distribution facility in Faribault.
Assistance: The Faribault Area Chamber was engaged in the community’s business recruitment process and, as a Grow Minnesota! partner, asked the Minnesota Chamber to lend additional assistance. The chambers, along with Minnesota Department of Employment and Economic Development representatives, a local developer and public-sector officials worked to promote Minnesota and Faribault’s assets and business opportunities.
Result: Moventas announced in September 2008 its decision to build its first North American assembly plant in the Faribault area. The plant will provide 90 jobs in the initial phase with hundreds more in the anticipated growth phases. The construction of the multimillion dollar facility and long-term impact of the added jobs and tax base are a tremendous boost to the local economy. The company noted widespread cooperation and support by state and local economic development organizations as key to locating in Faribault.
Kymn Anderson, president, Faribault Area Chamber of Commerce:
"This economic win for the region, in an industry with immense potential, was secured through the cooperation of many entities. Thanks to our connections to Grow Minnesota!, we were able to bring key leaders to the table to demonstrate the cooperation and level of state and private-sector support for this kind of development in Minnesota."
The Minnesota Chamber of Commerce in partnership with RSM McGladrey is offering our members an opportunity to participate in their 4th annual Manufacturing and Wholesale Distribution National Survey.
By completing the survey, you will receive from RSM McGladrey a customized report that allows you to compare your answers against the aggregated answers of all Minnesota Chamber members as well as against the national averages. You will also receive the 2009 national survey report. The Minnesota Chamber will receive an aggregation of all member responses versus the national averages and a results presentation by McGladrey at one of our upcoming meetings. This is a significant value the chamber has arranged for you at no charge.
Follow this link to begin the survey.
Your survey responses are confidential and will only be shared within RSM McGladrey and McGladrey & Pullen*, as needed, and with outside vendors engaged specifically to assist with compilation of the survey results. Your individual responses will not be disclosed to other survey respondents or third parties, including the Minnesota Chamber of Commerce.
RSM McGladrey will restrict contact with chamber members to the deliverables mentioned above. Exceptions are current clients of RSM McGladrey or McGladrey & Pullen LLP and non-client companies with existing ties to RSM McGladrey, Inc., or McGladrey & Pullen, prior to March 1, 2009.
Add your voice and make a difference
There is a lot more to this survey than interesting statistics - by adding your voice, you're helping your government and your chamber to help you. This is a survey with an impact.
U.S. policymakers have come to rely on the RSM McGladrey survey to benchmark and ascertain the current health and competitive well-being of U.S. industry. Findings from last year's survey were presented to the White House Council of Economic Advisors, key congressional leaders, the National Governors Association, the U.S. Departments of Commerce and Labor and others. Besides the Minnesota Chamber of Commerce, several other chambers are actively encouraging members to participate in the 2009 survey in order to benchmark trends they can report back to members.
Help your company and help your industry
In addition to the reports noted above, executives who respond by April 10th will receive access to an exclusive white paper on best practice recession strategies, and a first look at the survey's major findings (May).
The survey takes approximately 20 minutes to complete.
Follow this link to begin. Responses are due by April 10, 2009.
On the very last question of the survey, make sure to check the box for our association.
To go to the survey, follow this link.
This web site is developed and owned by the Minnesota Chamber of Commerce. Any use or reprinting is strictly prohibited without prior consent of the Minnesota Chamber of Commerce.
GROW MINNESOTA! Annual Report
» Download 2007-2008 Annual Report
In the News
Protecting your business - 2008 Voting Record
» Read the 2008 Voting Record.
Business Pandemic Planning
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Chamber partners with SFM Companies to provide Discounted Workers' Comp Coverage
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Insurance renewals on your mind?
» Ask for a quote on the Chamber Life & Disability Program
State & National Economic Indicators
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Upcoming Events
Minnesota Business Gives Workshops
July 21
Brainerd Lakes Chamber
(218) 829-2838
