The Number: $18.2 million
That's what Duluth's Ikonics Corp. reaped in sales in 2018 as it charted a return to "growth and profitability." The publicly traded imaging and aerospace materials company put out its triumphant earnings report last week with a tidy profit compared to last year's loss and a shored-up cash position. Growth was especially keen in the aerospace segment, which more than doubled. In other words, it really... skyrocketed. I've got better.
The Word: "Target plans to remodel more than 1,000 stores by the end of 2020, and will continue remodeling many stores beyond that timeframe across the country to enhance the guest experience with the next generation of store design," a Target spokeswoman emailed me after I asked about potential plans for Duluth's store, precise plans for which remain under wraps. If you've seen some of the changes at Twin Cities locations - isn't that white-on-red rebranding just fresh? - she cautioned: "No two remodels will be the same. Across the country, we'll be choosing elements to create customized concepts to meet the needs of local guests."
The Lead: Family child care providers feeling the heat from licensors can breathe a little easier. The Department of Human Services clarified there's no minimum water temperature requirement and hot water lines can be turned off after providers said "licensors are issuing correction orders for water being too cold or not having hot water supply line open." The agency will also now require that county licensors send providers "the same information the licensor sends to DHS" when issuing a correction order - an issue of fairness raised by a Duluth provider in a News Tribune story last year.
The Call: Construct Tomorrow
There will be no shortage of construction work over the next few seasons in Duluth - but given the increase in retirements among the trades and low uptake among the youths, there may be a shortage of local workers. On Tuesday and Wednesday more than 1,000 area high school students will get exposure to the industry at the Construct Tomorrow event at the DECC. Are you looking to get started in construction, maybe following the family trade or charting your own path? Please give me a call or email me at email@example.com; let's tell your story.
The Memo is a weekly roundup of things to know, ya know? Send business news of all kinds to firstname.lastname@example.org and give construction reporter Brooks Johnson a call every now and then at 218-723-5329.