Governor Dayton and DEED Commissioner Katie Clark Sieben join Toro leaders at their Bloomington, MN Expansion
Minnesota companies are shifting into expansion mode. In the latest example, Toro Co. broke ground today on a 75,000-square-foot expansion project that will bring 50 new corporate jobs and retain nearly 900 jobs at the company’s headquarters in Bloomington.
“Toro is a longtime Minnesota manufacturer that has been operating in the state for 99 years,” said DEED Commissioner Katie Clark Sieben. “We’re grateful that the company chose Minnesota for latest expansion and congratulate their leadership and employees on all of their success.”
The company, which specializes in manufacturing lawnmowers, snow blowers, leaf blowers and other outdoor equipment, will add a three-story addition on the north side of its headquarters building at Lyndale Avenue South and 82nd Street West.
To assist in the expansion project DEED plans to award Toro a $750,000 forgivable loan from the Minnesota Investment Fund.
The project is the latest in a series of corporate expansions in Minnesota this year. Through the first two quarters, 80 businesses have announced expansion projects that will create more than 2,800 jobs in the state.
According to the Minnesota Department of Employment and Economic Development, the Minnesota workforce is 2.8 million strong as of July 2013. Minnesotaworks.net held a career fair in November 2012 where community members were able to have their personal resumes critiqued to better prepare them for the job search (Photo courtesy of the Minnesota DEED Facebook page).
Employers relocating to Minnesota often tell DEED’s Business and Community Development representatives that the quality of the workforce is one of the driving factors. But what does quality mean?
Does equality equate with educational attainment? Labor force participation rate? The hard-to quantify — yet frequently heard – tireless work ethic? Rate of absenteeism? The quality of the workforce likely means different things to different employers.
Some look to the state’s labor market participation rate as an indicator that Minnesotans are hard working. We know Minnesota’s labor force participation rate, which measures the proportion of the population age 16 and older that is employed or actively looking for work, is 70.3 percent, the third-highest labor force participation rate nationwide. The U.S rate is 63.7 percent.
|Denny Christiansen, a veteran of the U.S. Army|