The Number: 318,000
That's how many Minnesotans were working in manufacturing in 2016, a 9 percent increase since 2010. The governor declared the top of October as Manufacturing Week, and DEED sent out a few neat stats I just have to pass along. The average manufacturing wage is nearly $64,000; there are more than 8,200 manufacturing businesses in the state; and the industry added $48.2 billion to the Minnesota economy last year. All in a day's work.
The Word: "I actually have a very non-consensus point of view. I think it's going to be Neel Kashkari. He happens to be the most easy money guy that's in the Federal Reserve system today and that's why he may win," said DoubleLine Capital CEO Jeffrey Gundlach last week, per a CNBC report . Kashkari is president of the Minneapolis Fed and has opposed ongoing rate hikes. However, the story cited sources who said he's not being considered to replace Janet Yellen as Fed Chair, if she is replaced at all when her first term expires in February. But that would be cool, if only because I've interviewed the guy.
The Lead: Here's some water for your conventional wisdom: Regulations in China are creating jobs in Minnesota. Last week John Myers reported that some taconite from Mesabi Metallics will head to a Chinese steelmaker, which will pay a premium for the pellets once the Nashwauk mine comes online. I've also written about U.S. Steel's Keetac mine shipping to Chinese customers. It turns out a government mandate to reduce air pollution there has created a market for Minnesota taconite. As for what happens to that Chinese steel, the import of which was blamed for the Range's recent slump - I guess we'll see.
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The Happy Hour: I wasn't invited to taste-test the new menu items at Amsoil Arena, but a visual comparison with some Xcel Energy Center bites offered during Wild games gives the Bulldogs a lead, I'd say.
The Call: Half-penny for your thoughts
Business owners, do you have strong, medium or weak feelings about Duluth's proposed half-percent sales tax increase? How about the earned sick and safe time initiative? Let me know what you think, don't be shy now.
The Memo is a weekly roundup of things to know, ya know? Send business news of all kinds to biz@duluthnews.com and give formerly shy business reporter Brooks Johnson a call every now and then at (218) 723-5329.
