The GREATER MSP Quarter 3 - 2015 Economic Update shows current economic indicators and data, new collateral tools and videos, as well as additional economic information.

1. Greater MSP Regional Economic Updates
Quarter 3 - 2015

2. Unemployment
MSP
Unemployment
Rates
July 2015 August 2015 September 2015
Change from
September
2014
Total Unemployed 72,013 65,293 60,302 -9.2%
Unemployment
Rate
3.7% 3.4% 3.1% -0.4 percentage
points
Source: Local Area Unemployment Statistics (LAUS), MN DEED, Seasonally Adjusted

3. Real Estate
MSP Commercial
Real Estate
Q3 – 2015 Q2 – 2015 1 Quarter Change
Office Vacancy Rate 15.0% 15.3% -0.3 percentage points
Office Rental Rate
(Sq. Ft.)
$13.63 $13.43 1.6%
Industrial Vacancy
Rate
5.5% 5.0% 0.5 percentage points
Industrial Rental
Rates (Sq. Ft.)
$5.19 $5.11 1.6%
MSP Housing August
2015
September
2015
1 Month %
Change
September
2014
1 Year %
Change
Housing
Starts/Authorized
Building Permits
663 570 -14.0% 655 -13.0%
Source: CBRE Local U.S. Reports
Source: U.S. Department of Commerce; U.S. Census Bureau; Federal Reserve Bank, St. Louis Branch

4. Project Completions – Year To Date
Visits Needed
to Reach Goal
BR&E Visits to
Date
Advanced
Manufacturing
HQ & Business
Services
Health & Life
Sciences
Food & Water
Q1 Jobs (949)
Q2 Jobs (2,893)
$0.00 $550M
Finance &
Insurance
Other
Q3 Jobs (619)
Q1: $121.8M
Q2: $376.1M
Q3: $34.3M

5. Quarter 3 Project Completions
Lifecore Biomedical, Chaska: $17.2M in Capital Investment; 68 New Jobs
Lifecore Biomedical received Job Creation Fund assistance from DEED and a tax abatement from
Chaska for their $17.2M expansion and 68 new jobs.
American Logistics, Cottage Grove: $7.9M in Capital Investment; 70 New Jobs
American Distribution and Manufacturing, a MN owned company for 79 years, is adding 100,000 to
their warehouse and maintenance buildings in Cottage Grove. With a MIF award of $400,000 from MN
DEED and a TIF from the City of Cottage Grove.
SunOpta Inc., Edina
GREATER MSP worked with the city of Edina to bring greater recognition to this global food giant
company. The city council of Edina unanimously overturned the planning commission
recommendation and approved company signage for SunOpta's US HQ building.
Incertec, Fridley: $3M in Capital Investment; 50 New Jobs, 120 Retained Jobs
Fridley-based INCERTEC will move from its current facility (35,000 sf) into a facility that will double its
footprint (70,000 sf); this new HQ is also in Fridley. INCERTEC plans to purchase new machinery and
equipment and rearrange its operations.

6. Quarter 3 Project Completions
Ability Network, Minneapolis: $518K in Capital Investment; 167 New Jobs, 118 Retained Jobs
Minneapolis-based health care technology firm that's adding 167 new jobs that will pay an average of
$33.16 per hour. The company plans to invest $518,149 in the hiring initiative.
LifeFitness, Anoka: $5.6M in Capital Investment; 26 New Jobs
Life Fitness, manufacturer of fitness/exercise equipment, is expanding their existing site in Ramsey.
The expansion includes the construction of a new $4M, 48,5250 sqft expansion on the existing Life
Fitness property and a $585,000 investment.

7. Business Investment Team Market Visits (YTD)

8. Quarter 3 - Rankings
• Minnesota ranked 3rd
best state for teachers
o WalletHub
• Minnesota ranked 7th
most recession-recovered city in 2015
o WalletHub
• Minneapolis ranked 3rd
best city for 20-somethings
o Greatist
• Minneapolis /Saint Paul ranked 2rd best city for beer lovers
o Travel & Leisure
• Minneapolis/St. Paul ranked #1 in top best local food scenes
o The USA Today 10 Best
• Minnesota ranked in top vacation rental destination
o FlipKey
• Minneapolis ranked 3rd
friendliest city in America
o Time
• Minneapolis ranked 4th
best city for festivals in America
o Travel & Leisure
• MSP ranked 3rd
best domestic airport in the world
o Travel & Leisure
• Minneapolis ranked the 7th
best city for recreation in America.
o WalletHub

9. New Videos
Make It. MSP. Talent Attraction Video:
https://youtu.be/G3jvFl5u5so

10. New Publications
InterCity Leadership Visit -
Seattle
Seattle vs. MSP Regional
Indicators Dashboard
Minnesota’s Medical Alley:
Innovation Happens Faster Here

11. Connect With Us!
https://www.facebook.com/greatermsp?ref=bookmarks
https://twitter.com/GreaterMSP
https://www.linkedin.com/grp/home?gid=4756970
https://instagram.com/greatermsp/
https://www.youtube.com/user/GreaterMSP
Watch Greater MSP Business!