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HomeMy WebLinkAbout03-22-16NakVI AGENDA Economic Development Commission March 22, 2016 — 4:30 p.m. City Hall, Marion Conference Room 1. Call to order 2. Approval of February 23,2016 minutes 3. Presentation on Data Center Site Development by Mark Loftus, Dakota Electric Association and Tom Lambrecht, Great River Energy 4. Review of the status of the 2014-2016 Strateaic Plan for Economic Development 2015 work program 5. Directors Report 6. Adjourn Attachments: • February 2016 Building Permit Report • Sale of Ardmour Village Manufactured Home Park • Home sales rose 6.7 percent in Twin Cities region last month, Star Tribune, 3/14/2016 • Governor Announces Key Investments, DEED, 3/15/2016 • State Job Vacancies Climb to 96,000 in Fourth Quarter, DEED, 3/17/2016 CITY OF LAKEVILLE ECONOMIC DEVELOPMENT COMMISSION MEETING MINUTES February 23, 2016 1. Vice Chair Longie called the meeting to order at 4:30 p.m. in the Marion Conference Room at City Hall. Members Present: Comms. Longie, Collman, Matasosky, Scherer, Vlasak, Rajavouri, Gillen ex -officio members: City Administrator Miller. Members Absent: Comms. Emond, Starfield, Smith ex -officio members: Chamber President Roche, Mayor Little Others Present: David Olson, Community & Economic Development Director; Rick Howden, Economic Development Specialist. 2. Approval of January 26, 2016 meeting minutes Comms. Matasosky/Scherer moved to approve the minutes of the January 26, 2016 meeting as presented. Motion carried unanimously. 3. Review of Post / MOM Brands Tax Abatement and DEED Minnesota Investment Fund Loan Agreements Mr. Olson explained that City and State of Minnesota staff have been working with Post Consumer Brands / MOM Brands staff for a number of months to finalize the agreements for the proposed State funded and City funded incentives that were offered last year to retain the Post Cereal Division Headquarters in Lakeville. The Minnesota Department of Employment and Economic Development (DEED) has awarded the City of Lakeville with a grant in the amount of $750,000 to assist with the retention of employees at MOM Brands Company, LLC, a subsidiary of Post Holdings Inc. Assistance from DEED's Minnesota Investment Fund (MIF) will be provided to MOM Brands in the form of a forgivable loan from the City. The City, DEED and MOM Brands have discussed and reached agreement on the language for the documents requiring approval before assistance will be obtained. The documents include a Grant Contract between DEED and the City and a Loan Agreement between the City and MOM Brands. Additionally, MOM Brands will submit a Promissory Note and Corporate Guaranty. The terms of the agreement include job and wage goals which are: retention of 250 jobs paying a minimum hourly wage of $18.48 excluding benefits for a period of two years. If the job and wage goals are met by May 4, 2017, the loan will be forgiven. If the job and wage goals are not met by that date, the company will be required to repay a pro rata share of the loan plus interest at a rate of 3.25%. In addition to the job and wage goals, MOM Brands Company, LLC agrees to continue operations in the City of Lakeville through May 4, 2020. In addition to the DEED's proposed job retention incentive, the City proposed an incentive of $375,000 to be provided through Tax Abatement. The terms of the City's incentive are similar to DEED's incentive. The City's Tax Abatement Agreement proposes to provide the $375,000 job retention after the 250 jobs have been retained by Post for one year which will be May 4, 2016. Similar to the DEED requirements, the 250 jobs have to be retained a minimum of two years and the Post / MOM Brands has to continue their operations in Lakeville for a minimum of five years or until 2020. The properties owned by Post / MOM Brands are scheduled to be in a Tax Increment Financing (TIF) District until December 31, 2022 unless the City elects to de -certify the TIF District earlier. Staff is recommending an interfund loan of $375,000 from the City's General Fund. When this project was initially discussed last year, it was suggested that the Liquor Fund be used to fund the interfund loan. However since then the planning of the construction of a fourth liquor store near Keokuk Avenue and Co. Rd. 70 has advanced, and it is recommended that the current balance of the Liquor Fund be retained for that purpose. Because the Tax Abatement funds will start to be generated for 7 years, it is recommended that interest accrue during this period. At their work session last evening, the City Council decided on a 3.5% interest rate. Comms. Matasosky/Collman moved to recommend approval of the DEED Minnesota Investment Fund Loan Agreement and the Tax Abatement Agreement to the City Council. Motion carried unanimously. 4. Review of County Road 50 and County Road 5 Improvement Projects Mr. Olson provided a verbal update on the County Road 50 and County Road 5 Improvement Projects which will be impacting existing commercial areas. 5. Director's Report Mr. Olson reviewed the Director's Report. If you have not already, please RSVP for the annual Board and Commission Appreciation Event at 6:00 p.m. at the Lakeville Area Art Center on Tuesday, March 15tH The City was approached by the Metropolitan Airports Commission (MAC) about the possible annexation of the Airport several months ago. The City Council authorized staff to explore this issue further with Township and MAC officials. The one article summarizes the Eureka Township discussion that took place at their February 8th meeting. The Planning Commission will be considering several zoning ordinance amendments at a public hearing on March 3rd. Included in these amendments is a change that would reduce the rate of change for messages from 60 seconds to 30 seconds for electronic message board signs, and a change to the sign ordinance for businesses close to the 1-35 corridor that would allow wall signs on building elevations that face the freeway. This change would allow the Candlewood Suites hotel currently under construction to have wall signage facing 1-35 whereas the current ordinance does not. Staff continues to receive inquiries from private developers interested in a variety of types of multi -family apartment developments. The types of projects range from market rate, to affordable senior apartments, to affordable workforce apartment development. Some of these proposed projects would require changes to current zoning ordinance requirements or zoning designations. In addition, several developers are inquiring about options for housing tax credits and/or tax increment financing to make their projects affordable. These issues may result in the need for a joint meeting of the EDC, Planning Commission and City Council in the next few months. Tim Roche and the Lakeville Area Chamber of Commerce have facilitated several meetings with Metro Transit, Dakota County and a number of the larger businesses in the Industrial Park to discuss the possibility of providing a shuttle van or small bus to transport workers from the Apple Valley Transit Station to the Industrial Park. Staff will provide updates on this possible service as the discussions progress. 6. Adjourn Meeting adjourned at 6:12 p.m. Respectfully submitted by Rick Howden, Economic Development Specialist Lakeville Memorandum No. City of Lakeville Community & Economic Development To: Economic Development Commission From: Rick Howden, Economic Development Specialist Copy: David L. Olson, Community and Economic Development Director Justin Miller, City Administrator Date: March 18, 2016 Subject: Presentation on Data Center Site Development Mark Loftus from Dakota Electric Association and Tom Lambrecht from Great River Energy will be providing an update on growth and opportunities in the data center industry. They will provide information on a site certification program that Dakota Electric and Great River Energy have implemented in order to support the City's efforts to attract data centers. Attached is an informational brochure prepared by Dakota Electric. DAK13TA ELECTRIC ASSOCIATION f' ■ Dakota Electric will pro- vide a matching grant of up to $10,000 to commu- nities conducting a site analysis for data center certification. A data center can gener- ate revenue, jobs and capital investment in a community. Reliable power is impor- tant for data centers, and Dakota Electric's reliabil- ity record is among the best in the nation. ;rfAGJEC A S S 0 C I A T 1 0 N Your Touchstone Enew'Parhier ?l DATA CENTER SETZE DEVELOPMENT ASSISTANCE About data centers Data centers are a rapidly growing part of the economy. A key part of the information age, a data center is a collection of computer servers, connected by telecommunications equipment and sup- ported by significant electrical power and mechanical systems. A data center may manage data for one company or for many. Data centers are good corporate citizens. Though not employing a large number of workers, data center jobs are usually well paid. The buildings have sizable taxable value and support strong levels of construction, equipment purchases, technical support and local contracted services. A data center can attract other high-tech businesses to a community, creating a ripple effect on the local economy. Data centers typically have limited visibility due to their need for security and do not place a large demand on public services. They can also provide an excellent resource for area businesses, which need an efficient place to house their own data. Data Centers have unique concerns that differ from the typical industrial project. Besides the large electrical power demands, other concerns include multiple fiber optic carriers, distance from air- port flight patterns, and minimizing the potential for geologically hazardous and man-made risks. Dakota Electric's data center program Dakota Electric is collaborating with Great River Energy, our generation and transmission partner, to identify the best sites for data centers in Dakota County and adjacent areas we serve. Great River Energy has contracted with Deloitte Consulting, a national data center expert, to conduct a site review process for determining premier data center locations. Communities wishing to certify sites as data -center ready must conduct an extensive site analysis. The site analysis requires evaluation of: Land ownership Zoning, adjacent uses and other industrial operations Physical characteristics of the property Potential natural disasters and other destructive conditions Mark Lofthus Dakota Electric Association 4300 220th Street West • Farmington, MN 55024 651-463-6242 • 800-874-3409, ext. 242 mlofthus@dakotaelectric.com www.dakotaelectric.com — continued on back A certified data center site signals that a community has the technology and infrastructure to support mission -critical facilities. • Electric power capacity and service • Environmental, archaeological and geotechnical concerns • Access to fiber optic infrastructure, transportation and adequate workforce • Water, natural gas and wastewater facilities Dakota Electric offers financial assistance to communities conducting a site analysis. A maximum of $10,000 per site is available, which must be matched by the community. Dakota Electric will support only one site in a community and sites must be located in Dakota Electric's service terri- tory. A maximum of $30,000 is allocated for 2015. What COMMUnities need to know Only sites of 20 acres or more will be considered. The cost to communities for a full data center site analysis could range from $20,000 to $40,000. This cost may be reduced with documentation of prior work on a particular site. A number of engineering firms are capable of conducting the site analysis. If requested, Dakota Electric will provide referral to firms who have conducted the technical analysis required by Dakota Electric's program. A full set of program requirements is available on request. Great River Energy and Dakota Electric will market sites that are certified under the data center program. Sites will be featured on the organizations' websites and will be highlight- ed at national and in-state marketing events. The rigorous analysis required for the program may also be advantageous for other types of projects. Large manufacturing, technology, and distribution center projects will have many of the same expectations and requirements as data center investments. Next steps for communities First, contact Mark Lofthus, Dakota Electric's economic develop- ment director, at 651-463-6242 to discuss the general require- ments of the program, the site that is being considered and the strength of the city's interest in going forward. Great River Energy will conduct an initial review to determine if the site meets the most basic requirements that would warrant further investigation and local expenditures. Dakota Electric will only offer financial assistance if there is a strong expectation that a site will ulti- mately be certified. Second, if given an initial indication that the city should continue in the process, submit a letter of interest to Dakota Electric. Include a formal indication by city leadership to proceed with the certification and the funds the city is willing to commit. Third, Dakota Electric will provide written confirmation that funds will be available once the process has been completed. Finally, when documentation has been furnished that all work has been completed, Dakota Electric will reimburse the city for the agreed-upon share of the costs. CO 'TACT MARK LOFT14US Fco ,,,- tc U veto ¢rear O;rector C!', uc a EladrIC Aa'S4Ci3E: i 4 =oG % Do Stre_el Wast • Farmington, %IN 55024 � 6 ar.: 242 * 639-874-3-40-9. ext- 242 Pri)fthJS akot7Blart IIC.Com 04115 Lakeville Memorandum City of Lakeville Community & Economic Development To: Economic Development Commission % From: David L. Olson, Community & Economic Development Director Copy: Justin Miller, City Administrator Rick Howden, Economic Development Specialist Date: March 18, 2016 Subject: Strategic Plan for Economic Development Work Plan Update The City Council approved the 2014-2016 Strategic Plan for Economic Development in January of 2014. This plan provides the EDC and staff with a basis to focus on specific initiatives during this three-year period. Attached is a summary of the progress made on the Strategic Plan for Economic Development 2015 Work Plan. The Strategic Priorities for 2015 were: • High Skill, High Wage Jobs • Infrastructure to Leverage Opportunities • Business Retention and Expansion • Incentives and Tools to Achieve Success • Enhancing a Pro Business Climate • High Density Housing Recommended Action: Discuss the progress made in 2015 and identify work plan priorities for 2016. 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N +' O o� tZ y U N x - y y 'b Sy x y ..� cz cn j —� �S- .� 20 O L •��' °'��'°03 0� foo bZ w a }'`�.co 4.CU 4-J 4.5N o o N 4° P. U .tea N a '� N a V) V] Lakeville Memorandum City of Lakeville Community & Economic Development To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Justin Miller, City Administrator Rick Howden, Economic Development Specialist Date: March 18, 2016 Subject: March Director's Report The following is the Director's Report for March 2016. Building Permit Report The City has issued building permits with a total valuation of $16,997,553 through February. This compares to a total valuation of $19,480,108 for building permits issued through February of 2015. The City issued commercial and industrial permits with a total valuation of $1,706,000 through February compared to a total valuation of $1,527,000 during the same period in 2015. The City has also issued permits for 36 single family homes through February with a total valuation of $11,131,000. This compares to 41 single family home permits through February of 2015 with a total valuation of $13,749,000. The City also issued permits for 7 townhome units through February with a total valuation of $1,709,000. This compares to 10 townhome permits issued in February of 2015 with a total valuation of $2,504,000. Possible Annexation of Airlake Airport The Eureka Township Board has decided to explore options in which the Township might be able to provide sewer and water service to Airlake Airport. As a result, the City will not be pursuing further discussions on the possible annexation of the Airport at this time. Proposed Zoning Ordinance Amendments The City Council will be considering several zoning ordinance amendments at their meeting on March 211t. Included in these amendments is a change that would reduce the rate of change for messages from 60 seconds to 30 seconds for electronic message board signs, and a change to the sign ordinance for businesses close to the 1-35 corridor that would allow wall signs on building elevations that face the freeway. This change would allow the Candlewood Suites hotel currently under construction to have wall signage facing 1-35 whereas the current ordinance does not. Interest in Apartment Development in Lakeville The City Council will begin a discussion of multi -family housing development at their March 28' Work Session. These discussions will include whether the Council wishes to consider requests that have been received from several land owners and developers to allow for multi- family development on commercially zoned properties near the 1-35 and Cedar Avenue corridors. Staff is currently working with one developer that is planning to submit an application for a 50 unit apartment project along the Cedar Avenue corridor. The discussion will eventually also need to address the proposed use of housing tax credits and/or tax increment financing to make their projects affordable. These issues may result in the need for a joint meeting of the EDC, Planning Commission and City Council in the next few months. Sale of Ardmor Village Manufactured Home Park Lakeshore Communities Inc. based in Skokie, Illinois purchased the 339 lot Ardmor Village manufactured home park located at 20990 Cedar Avenue on February 26, 2016 for $7.6 million. Ardmor has been owned by Uniprop Manufactured Housing Communities based in Birmingham, Michigan for nearly 30 years. Ardmor Manufactured Home Park was opened in 1975 and comprises 75 acres. The City has not been contacted prior to or since the sale. 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Tlie proper Audek-the club tobAe ai d 339 home lots. Submitted photo, G61S Just Sold: Lakeville manufactured home community sells for $7.6 million By: Anne-liretis March 11, 2016 b:2� am 0 Editor's note: "Just Sold" is a Finance & Commerce feature based on certificates of real estate value recently filed for commercial transactions and significant residential transactions in Twin Cities counties. Additional details in the transactions come from Plat Research, the Minnesota Secretary of State's Office, company documents, online real estate listings, F&C archives, CoStar and other research. Some purchase prices and per-unit calculations have been rounded. Full prices are available on the CR Vs posted here. 20990 Cedar Ave., Lakeville An Illinois buyer has paid $7.6 million for the 339 -lot Ardmor Village manufactured home community in Lakeville. Ardmor MHC LLC, an entity related to Skokie -based Lakeshore Communities Inc., closed Feb. 26 on the purchase from Uniprop Manufactured Housing Communities Income Fund II. The fund is an entity ofUni ro , a commercial real estate company in Birmingham, Michigan. The deal included no down payment and a new mortgage. Roger Zlotoff, president of Uniprop, said he couldn't pinpoint exactly why he decided to sell the community his company had owned for nearly 30 years. "There wasn't one particular reason," he said. He conceded that a strong economy and a solid unsolicitated offer, along with the fact that it was the company's only property in Minnesota, all played a role in the decision. Documents filed with the Securities and Exchange Commission help fill in the details. The 8-K filed when the property was put under contract in November showed the price for Ardmor totaled $10.79 million before closing costs and other expenses. That was more than double the appraised value of $5.25 million and $4.9 million more than an offer from a second qualified buyer. Dakota County values the property at $9.71 million for tax purposes. The high price is even more interesting because the documents indicate that the 75 -acre Lakeville community, which opened in 1974, had net operating income of $622,919 in 2014, with only 44 percent of its lots occupied. The buyer couldn't be reached Wednesday. Ardmor is one of five manufactured home communities in Lakeville and one of more than 900 in Minnesota, according to statistics kept by the Manufactured and Modular Home Association of Minnesota. No new communities have opened in the Twin Cities metro since the 1980s. Ardmor did get its 15 minutes of fame in 1999, when it was one of several Twin Cities locations used in the movie "Drop Dead Gorgeous." Purchase price: $7.6 million, with no down payment and new financing Price per lot: $22,419 Property ID: 22-02800-76-010; 22-02700-51-010; 22-03300-01-010; 22-02700-50-011 Date of deed: 2-26-16 Home sales rose 6.7 percent in Twin Cities region last month Inventory remains super -tight, with the number of available properties down nearly 20 percent from a year ago. By Jim Buchta Star Tribune MARCH 14, 2016 - 11:33AM DAVID RYDER, BLOOMBERG Home sales rose about 7 percent in February in the Twin Cities metro area, even as the supply of homes for sale plunged nearly 20 percent. The kickoff to the spring housing market in the Twin Cities was unseasonably strong — especially for sellers. During February, there was a 6.7 percent increase in signed purchase agreements in the 13 - county metro area, according to a monthly sales report released Monday morning by the Minneapolis Area Association of Realtors. Though new listings increased slightly during the month, there were just 10,953 available properties at the end of the month, a 19.4 percent decline compared with last year. With buyers outpacing sellers in some parts of the metro, that meant stiff competition and little room for buyers to negotiate. The median price of all closings during the month was $207,395, a 3.7 percent increase compared with last year. "Many would-be buyers are waiting on sellers, said Judy Shields, president of the Minneapolis Area Association of Realtors. "Early indicators such as mortgage applications suggest demand is only likely to strengthen. The uncertainty comes on the supply side, but there's a good chance we'll see more inventory this year." With a few critical exceptions, home buyers in the Twin Cities are encountering the best buying conditions since the housing crash. Mortgage interest rates are still below 4 percent — the lowest in a generation and half of the historic average. The unemployment rate in the Twin Cities is among the lowest in the country and wage growth has been relatively strong. By every indication the market appears poised to be the most robust in more than a decade. Closings, a reflection of what was bought two to three months earlier, were up slightly. And with listings in short supply in some areas, sellers were offering few discounts. On average, sellers received 95.3 percent of their original list price, a slight increase compared with last year. And houses sold much faster than they did last year. The average market time in the metro fell 9.4 percent to 96 days. At the current sale pace, all the listings on the market at end of the month would sell within 10 weeks. In a balanced market, it would take five to six months to sell out. While inventory remains unusually tight, listings are expected to rise in the coming months as prices rise and homeowners regain their confidence. "This situation will wash itself out and the spring weather will help," said Sheryl Petrashek, a sales agent with RE/MAX Results. "Historically in my view, buyers are in the spring market first and sellers come second in mid-March." 0. DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT �k Governor Announces Key Investments Dear DEED Partners, In an effort to increase the Budget Priority I am excited to share that Facts and Figures Governor Dayton's budget Office of Career and announcement today included Emerging support for a number of key Entrepreneurs Fund DEED programs that will • $6 Million enhance our ability to serve Minnesotans. 1106 While we are in a strong economic position, we know' ' that far too many Minnesotans are still unable to share in that prosperity including our communities of color and those Youth At Work without basic access to high- • $8 Million speed broadband. In building an economy that works for ALL Minnesotans, the Governor proposed the following investments to address economic disparities Pathways to and to ensure our communities Prosperity have modern, reliable infrastructure: • $4.1 Million r� Emerging Entrepreneurs " IL Fund: $6 Million In an effort to increase the number of businesses owned by people of color, women, Office of Career and veterans and individuals with Business Opportunity disabilities, Governor Dayton Grant Program proposed funding for the • $2 Million Emerging Entrepreneur Fund at DEED that would provide both lending and technical assistance to small businesses statewide. A key benefit for our partners will be a simplified application process and the need to only submit one application for funding consideration for both lending and technical assistance. Youth At Work: $8 Million While Minnesota's younger workers are becoming increasingly diverse, they are also experiencing higher levels of unemployment at a rate of about 10 percent, compared to 3.7 percent statewide. This dynamic disproportionately impacts young people from communities of color, which is why the Governor's budget includes additional funding for DEED's highly -successful Youth at Work Program that provides job training and placement, in addition to access to networks and problem -solving skills for Minnesota's youth. Approximately 27,000 youth applied to participate last year and were not served due to inadequate funding. Pathways to Prosperity: $4.1 Million Building an economy that works for all Minnesotans means providing equal access to employment opportunities for high -demand, high -paying jobs. Governor Dayton's proposal reinforces the need to provide a training pathway to a career with family sustaining wages for Minnesotans with barriers to employment by including an additional $4.1 million in funding for this highly -successful program. Office of Career and Business Opportunity Grant Program: $2 Million A few months ago, DEED's new Office of Career and Business Opportunity was created by Broadband Development Grant Program • $100 Million Redevelopment Grant Program • $2 Million iM f. Governor Dayton to provide the focus and leadership necessary to help workers and businesses of color find career paths and business opportunities in Minnesota. The new grant program will support the office's work in breaking down barriers for Minnesota's communities of color, and provide additional resources to assist the office in addressing economic and employment disparities throughout the state. Broadband Development Grant Program: $100 Million In May of 2014, Governor Dayton signed the first official Border -to -Border Broadband Development Grant Program funding that went to improving access to high-speed broadband for thousands of households, schools, businesses and community institutions throughout the state. This Legislative Session, the Governor is proposing an increase of $100 million in state funds for broadband access grants that will bring high-speed Internet to more unserved and underserved corners of the state. Redevelopment Grant Program: $2 million The Redevelopment Grant Program is critical for business development in Minnesota. The program provides funding to reuse land with dilapidated structures and inadequate infrastructure as a means of generating economic growth and strengthening communities. As the only statewide tool to help local units of government and developers defray the costs of recycling property, there is a large demand for funding once it becomes available. We are grateful for Governor Dayton's commitment to addressing Minnesota's economic disparities and supporting infrastructure needs of communities throughout the state, and are looking forward to discussions with our legislative leaders throughout session. Warm Regards, Katie Clark Sieben DEED Commissioner Questions? Contact Us Of Empwymwd wo Econoawa STAY CONNECTED: R© T SHARE SUBSCRIBER SERVICES: Manage Preferences I Unsubscribe I Help DEED is an equal opportunity employer and service provider. This email was sent to dolson@lakevillemn.gov using GovDelivery, on behalf of: Minnesota Department of Employment and Economic Development • 332 Minnesota Street Suite E-200 - Saint Paul, MN 55101 (800) 657- aIEL►VERY <_ 3858 DEPARTMENT OF EMPLOYMENTAND ECONOMIC DEVELOPMENT For Immediate Release March 17, 2016 Contact: Madeline O'Phelan, 651-259-7236 madeline.ophelan(&state. mn. us Oriane Casale, 651-259-7383 orianexasale@state. mn.us State Job Vacancies Climb to 96,000 in Fourth Quarter NOpenings up 8.1 percent from a year ago" ST. PAUL - The Minnesota labor market remained tight in the fourth quarter of 2015, with state employers reporting more than 96,000 job vacancies, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). Vacancies were up 8.1 percent from the same period a year ago and were the most for a fourth quarter since the agency began tracking job vacancies in 2001. The record for quarterly vacancies was 115,072 in the second quarter of 2001. Statewide, the ratio of unemployed people to vacancies was 1 to 1 - the state's lowest job vacancy ratio in nearly 15 years. A year earlier, there were 1.2 unemployed people for each vacancy. "These latest figures reflect a growing economy and increasing hiring demand in the state," said DEED Commissioner Katie Clark Sieben. '"At the same time, the tightening labor market underscores the need for career pathways training programs to prepare all Minnesotans, particularly from our communities of color, to fill these jobs that offer family -sustaining wages." The study found that 58.3 percent of the vacancies (56,071) were in the Twin Cities, with the remaining 41.7 percent (40,042) in Greater Minnesota. Vacancies were up 13.8 percent from a year ago in the Twin Cities and 1 percent in Greater Minnesota. The Twin Cities had 0.8 unemployed people for every job vacancy, while Greater Minnesota's ratio stood at 1.2 unemployed people for each job vacancy. The health care and social assistance industry led all sectors with 21 percent of the job vacancies in Minnesota, followed by retail trade (17.5 percent) accommodation and food services (13.6 percent), manufacturing (7.6 percent), construction (5.2 percent), and transportation and warehousing (5.2 percent). By size, firms with 10 to 49 employees had the highest job vacancy rate at 5.3 percent (5.3 openings per 100 jobs). Firms with one to nine employees had a job vacancy rate of 4.5 percent. The largest firms, those with 250 or more employees, had the lowest vacancy rate at 1.9 percent. These large firms also had the lowest share of part-time vacancies and the highest median wage offers. The following were other findings of the study: 1. Thirty-seven percent of job vacancies were for part-time employment. Part-time is defined as fewer than 35 hours per week. 2. Twelve percent of job vacancies were for temporary or seasonal work. 3. Thirty-six percent of vacancies required some level of post -secondary education or training beyond a high school diploma. 4. Forty-two percent of job vacancies required one or more years of work experience. 5. The median (50th percentile) wage offer for all job vacancies was $13.54 per hour. Wage offers were highly correlated with experience and education requirements. On average, the more education or experience required, the higher the wage offer. 6. Fifty-seven percent of vacancies offered health insurance. Health care benefits were far less common for part-time job vacancies than for full-time job vacancies. Go here to see more details in the fourth quarter report. DEED conducts the Job Vacancy Survey in the second and fourth quarters each year to gauge hiring demand and to determine job vacancy characteristics by industry, occupation and firm size in Minnesota. DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at http://mn.gov/deed/-. Follow us on Twitter at twitter.com/mndeed . -30- PJ Upon request, the information in this news release can be made available in alternative formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161. Minnesota Department of Employment and Economic Development Communications Office Phone 651-259-7149 or1-800-657-3858•TTY 1-800-657-3973 httl2://mn.gov/deed An equal opportunity employer and service provider. Questions? Contact Us MWDTrm of E"Wor m! am ftm me WMom nt STAY CONNECTED: 0DOP SHARE SUBSCRIBER SERVICES: Manage Preferences I Unsubscribe I Help DEED is an equal opportunity employer and service provider. This email was sent to dolson@ci.lakeville.mn.us using GovDelivery, on behalf of: Minnesota Department of Employment and Economici.' ,"I,�EL1VERYP Development 332 Minnesota Street Suite E-200 - Saint Paul, MN 55101 - (800) 657-3858