The GREATER MSP Quarter 1 - 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 1 - 2015

2. Unemployment
MSP
Unemployment
Rates
January
2015
February
2015
March
2015
Change from
March 2014
Total Unemployed 78,257 76,935 77,650 -15.8%
Unemployment
Rate
4.1% 4% 4% -0.8 percentage
points
Source: Local Area Unemployment Statistics (LAUS), MN DEED, Seasonally Adjusted

3. Real Estate
MSP Commercial
Real Estate
Q4 – 2014 Q3 – 2014 1 Quarter
Change
Q3 – 2013 1 Year Change
Office Vacancy Rate 14.3% 14.2% 0.1% 16.5% -2.2%
Office Rental Rate
(Sq. Ft.)
$12.58 $12.53 0.4% $12.18 3.3%
Industrial Vacancy
Rate
8.6% 8.8% -0.2% 9.1% -0.5%
Industrial Low-High
Quoted Rates (Sq.
Ft.)
$4.85-9.13 $4.65-9.09 - $4.84-8.90 -
MSP Housing February
2015
January
2015
1 Month %
Change
February
2014
1 Year %
Change
Housing
Starts/Authorized
Building Permits
386 408 -3.9% 358 4.6%
Source: Collier’s Market Reports
Source: U.S. Department of Commerce; U.S. Census Bureau; Federal Reserve Bank, St. Louis Branch

4. Project Completions – Quarter 1 2015
2015 Goal
Quarter 1 Jobs
2015 Goal
Quarter 1 Visits

5. Quarter 1 Project Completions
BAE Systems, Fridley: $15M in Capital Investment; 70 New Jobs, 560 Retained Jobs
BAE Systems Inc. signed at new 10-year lease. The lease will help BAE keep its 560 current employees and add 70
new engineering and research jobs in the region. GREATER MSP helped the City of Fridley and Hyde Development
apply for a DEED Innovative Infrastructure Grant to help finance the cost of an intersection providing access to the
site.
Werner Electric Supply, Cottage Grove: $30.7M in Capital Investment; 70 New Jobs
Werner Electric announced their expansion plan of their headquarters, regional distribution center and office facility
to begin in the Spring of 2015. The expansion will bring investment in additional staff and inventory over the next
three years. The company has been approved for a Job Creation Fund Award of $325,000 to assist with the
expansion.
Advanced Extrusion Inc., Rogers: $2.9M in Capital Investment; 17 New Jobs, 31 Retained Jobs
Advanced Extrusion Inc. is a 14-year-old manufacturer of extruded plastic roll stock. The company worked with
DEED, the City of Rogers and GREATER MSP to secure $280,000 in MIF financing to support the expansion of its
product line. This will allow the company to purchase new production equipment and create 17 additional jobs.
DCI Technology Holdings LLC, Minneapolis: $72.4M in Capital Investment; 25 New Jobs
DCI Technology Holdings LLC, a Dallas-based company, bought an empty 541,000 square foot building that housed
the former American Express data center in downtown Minneapolis from a German fund associated with KanAm
Grund. DCI already has a presence in the region, but is looking to create a co-location data center.
Van Wagenen Financial Services, Eden Prairie: $800,000 in Capital Investment; 10 New Jobs, 166 Retained Jobs
Van Wagenen Financial Services has chosen to remain in their current office space located in Eden Prairie. They will
be renovating their office space. DEED and GREATER MSP worked with the company on the MIF loan application
and a JCF grant.

6. Business Investment Team Market Visits

7. Quarter 1 - Rankings
• Minneapolis is the 6th
Best City for Millennials; Saint Paul is #8
o Vocativ’s Livability Index
• Minneapolis Ranked as the Most Literate City; Saint Paul Ranks #4
o Central Connecticut State University Study
• Minnesota Ranked 2nd
for Business Conditions
o Creighton University Mid-America Business Conditions Index
• Minneapolis Ranked 4th
Best City for Job Seekers
o NerdWallet
• Minneapolis ranked one of the most bike-friendly cities in the world
o Trazee Travel
• Minnesota ranked the best state for women
o WalletHub
• Minneapolis/St. Paul International Airport ranked 2nd
most high-tech airport in the U.S.
o Fodor’s Travel
• Minneapolis ranked the healthiest city in America
o Livability
• Minneapolis/Saint Paul ranked the 2nd
best city for recent grads
o Realtor Mag
• Minnesota has the 8th
best economy
o Business Insider

8. New Videos
Business Retention & Expansion
Greater MSP Partnership Video:
https://youtu.be/flYJCb_otg4
Business Retention & Expansion Video:
https://youtu.be/gN_W0qAoxWs

9. New Publications
2014 Success Stories The Talent Initiative
MSP Trade &
Investment Plan
Summary
2014 GREATER MSP
Annual Report

10. 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!