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<br /> Local Task Force Recommends Creation of Economic believed the company would have 29 t
<br /> I
<br /> Develo employees after three to four years.
<br /> pment and Employment Consortium "We have been down here for les
<br /> The Twin Cities Economic Development StudyGroup—compriseda year, and we're upto 20p
<br /> bankers, businesspeople and governmental leaders—recently ssuedorecomf � employees,"
<br /> Mullen says.
<br /> o
<br /> mendations in the second of three planned reports on ways to stimulate busi- Blue Earth uses otherasa incentives
<br /> revolving l to
<br /> ness development and job creation locally. One of those recommendations is to attractfnbusinesses,suchbas a loan
<br /> create a nonprofit economic-development and employment consortium to coor- and
<br /> (current asset base is or.i million)
<br /> dinate services and financing for business assistance and job opportunities. faf ci a 1'•001 sq. fs incubator industrial-
<br /> /
<br /> avail-
<br /> ial-
<br /> "One of the main conclusions we reached is that the Twin Cities is veryrich ableiin, Miller says. Other thers Bion
<br /> in resources to help new or expanding small businesses," notes Rebecca I able in the areaDevelopment come from Region
<br /> Yanisch, task-force chairperson and finance director at the Minneapolis Nine ingloan in theh, nine-
<br /> Community Development Agency. "But business owners and entrepreneurs sayhas a revolving ntr l fund , nine-
<br /> coordination of available resources is poor and services are extreme) fragment- county south-central area• and the
<br /> ed. Each organization has very specific, legitimate missions, but no one is look-
<br /> y g Southeast Initiative Fund, which serves a
<br /> ing at business support/employment-linkage strategies. '-0-counry area•Miller says.
<br /> "We need a greater degree of cooperation among providers of small busi- i The Minnesota Initiative Fu
<br /> and training programs." ads
<br /> i The consortium would serve as a clearinghouse for local economic-develop- The Southeast Minnesota Initiative Fund.
<br /> Ment and job-creation resources, fill fundingP• located in Owatonna, is one of six mid-
<br /> tonon-
<br /> businesses, says the task force's report. The key tonimplementin technical assistance
<br /> the con- 19o0t toopro that were set upd in ltheop
<br /> sodium is to attain funding, which would most likely come from foundations, l suppon on a regional basis.
<br /> g 1980s provide economic-development
<br /> Yanisch says. As of late May, the task force had been concentrating on devel
<br /> oping the concept and hadn't yet held conversations with potential contributors. ChalIn 1lenge G DTED began the Rural
<br /> The consortium could be running as soon as early 1995, if funding is found, funding m the Program to help channel
<br /> Yanisch says. from the state directly to this type
<br /> I i
<br /> of regional economic development grow
<br /> , "[The ruralrog
<br /> p ram] continues to be
<br /> Mankato North E /Vlac ®kaQ is... Irar
<br /> ••• du oras.solid surfaces and stone
<br /> markets.
<br /> Furniture designer John
<br /> schwartzkopf creates a ":Mankato•north Mankato helped Phenix started with a pilot plant
<br /> j mirror with a combination in Mankato in 199?. With t/ie assis-
<br /> spawn a company whose revolt,-
<br /> of Environ biocomposite and-- tionartproduct is beingtrace of the Faller !'ertture Capital
<br /> fine hardwood, heralded
<br /> V
<br /> us an 'environmental hope Club, Phenix recently completed a
<br /> a
<br /> for ° successful private placement and in
<br /> Herr tontorroi,.'
<br /> PHEN(X P'tomorrow.
<br /> Biocontnosites, Inc., a Mat 1994 opened its Trstfull-scale
<br /> i
<br /> manufacturng
<br /> sIOCJMPOS3 j E5� INC. spin-off ofRho Delta. o plant in nearby
<br /> Inc., a for-profit 'think ,v
<br /> St. Peter.. The cornpant'anticipates
<br /> �"'�'� • "' production plants or ld-,r idep'
<br /> tank'formed by%realty and staff of
<br /> the College of Physics, Engineer-
<br /> Vice
<br /> Taylor,
<br /> - i ing and Technology vice President,
<br /> ;� o at Mankato • Sales and Marketing
<br /> y , State University, is ntanufacttn•ing
<br /> . ,;_�_ - �h t; a product comprised of soybeans
<br /> •
<br /> rr ,.: arra recycled newsprint. The prod •-
<br /> _ (i
<br /> Tk� + •.r ' .`T ' •- fret. EnL'ir•Onril
<br /> .: ; biocomposite, looks
<br /> �?- :< :lilikegranite vetworks
<br /> '''r,--1- .,4----; k.- like wood. It's
<br /> berng marketed as an ern'ironmen- ti
<br /> .,�, talk-friendly, cost-effective
<br /> .. • .,,.. -::•- and beautiful substitute ,�`�. '"
<br /> •....-,,,... .,:.. t• •
<br /> rat,' material for the line .1 a
<br /> a, ..„,..,„.,...,„,..„
<br /> '-� „,-,,:„..,-..,-,.„:„.,;‘,„7,.. ...Southern Minnesota's Best Kept Secret
<br /> cret
<br /> I For more information on Mankato• North Mankato call ValleyIndustrial Development Co
<br /> p Corporation i-B00.950-5225
<br /> 5a Minnesota Ventures July,August 1994
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