The Greater MSP regional economic update for Q2 2015 indicates a slight increase in unemployment rates alongside a decrease in office and industrial vacancy rates. Key project completions for the quarter include significant expansions and capital investments from companies like Amazon and Renewal by Anderson, projecting the creation of numerous jobs. The report highlights Minneapolis's rankings in various livability and employee satisfaction metrics, further enhancing the region's economic outlook.

1. Greater MSP Regional Economic Updates
Quarter 2 - 2015

2. Unemployment
MSP
Unemployment
Rates
April
2015
May
2015
June
2015
Change from
June 2014
Total Unemployed 67,489 67,587 73,195 -6.56%
Unemployment
Rate
3.5% 3.5% 3.8% -0.2 %
Source: Local Area Unemployment Statistics (LAUS), MN DEED, Seasonally Adjusted

3. Real Estate
MSP Commercial
Real Estate
Q2 – 2015 Q1 – 2015 1 Quarter
Change
Q2 – 2014 1 Year Change
Office Vacancy Rate 14.5% 14.6% -0.1% 14.7% -0.2%
Office Rental Rate
(Sq. Ft.)
$13.33 $12.94 3.1% $12.42 7.3%
Industrial Vacancy
Rate
8.4% 8.5% -0.1% 9.1% -0.7%
Industrial Low-High
Quoted Rates (Sq.
Ft.)
$4.73 - $9.10 $5.29 – $8.90 - $4.59 - $9.08 -
MSP Housing April
2015
May
2015
1 Month %
Change
June
2014
1 Year %
Change
Housing
Starts/Authorized
Building Permits
566 653 0.0% 692 -0.2%
Source: Collier’s Market Reports
Source: U.S. Department of Commerce; U.S. Census Bureau; Federal Reserve Bank, St. Louis Branch

4. Project Completions – Year To Date
2015 Goal
Visits Q1 + Q2
Advanced
Manufacturing
HQ & Business
Services
Health & Life
Sciences
Food & Water
Finance & Insurance
Other
Q1 Jobs (949)
Q2 Jobs (2,893)
% still needed
(1,183)
$0.00 $550M

5. Quarter 2 Project Completions
Uponor Corporation, Apply Valley: $18M in Capital Investment; 82 New Jobs, 6 Retained
Uponor Corporation is expanding their Apple Valley location, spending $18M and creating 82 new jobs. GREATER
MSP helped the city complete the incentive applications for the Minnesota Department of Employment and
Economic Development (DEED).
Rahr Malting Co., Shakopee: $68.3M in Capital Investment; 28 New Jobs, 154 Retained Jobs
Rahr Malting Corporation is one of Minnesota’s longest-standing family businesses, Rahr manufactures malt and
distributes ingredients for the brewing and beverage industry worldwide. Rahr Corporation’s expansion plans
include the construction of four new facilities: a malt house, pilot brewery and technical center, maintenance
warehouse, and distribution center. New parking, green space, ponding and other site improvements will occur, as
well.
Post Holdings Inc., Lakeville: 250 Jobs Retained, 150 New Jobs
Post Holdings Inc. selected Lakeville for the cereal division headquarters. They will use former MOM brand offices
preventing a relocation to the east coast.
Spectro Alloys Corp, Rosemount: $7M in Capital Investment; 25 New Jobs
The Midwest’s largest aluminum recycling plant will add state of the art machinery and equipment to sort and
process pure metal. Spectro Alloys plans to take this process and equipment nationwide.
Renewal by Anderson, Cottage Grove: $38M Capital Investment; 200 Jobs
Renewal by Anderson is planning a $38 million expansion of their Cottage Grove facility, which currently employs
approximately 450 workers. This project is expected to create more than 200 new full-time jobs. The Cottage Grove
expansion will receive an award from the Minnesota Investment Fund of $50oK and $1.5M from the Minnesota Job
Creation Fund, if the company meets hiring and investment goals.

6. Quarter 2 Project Completions
Amazon, Shakopee: $230M in Capital Investment; 1,200 New Jobs
Amazon selected Shakopee for a 850,000 square-foot fulfillment center. The expansion will create about 1,200 jobs.
SterilMed Inc., Brooklyn Center: $250K in Capital Investment; 11 New Jobs
SterilMed is implementing a “preclean” operation in the Brooklyn Center “Receiving” facility. This new operation will
eliminate the need to preclean surgical devices in some 1,500 hospitals across the country and consolidate that
activity in Brooklyn Center.
BioSig, Golden Valley: $50K in Capital Investment; 12 New Jobs
Medical device company BioSig Technologies Inc. is moving its headquarters from Los Angeles to Golden Valley,
where it plans to hire about a dozen new workers. BioSig makes an electrophysiology recording system physicians
use to diagnose abnormal heart rhythms and picked the MSP region largely because of its strong med-tech
workforce.
Ally Servicing, Inc., Shoreview: $6.5M in Capital Investment; 250 New Jobs, 150 Retained Jobs
Ally Financial Inc., a leading financial services company, is consolidating its Twin Cities operations in Shoreview,
moving 150 jobs from their Roseville and Bloomington offices and adding 250 jobs over two years. The company
plans to invest $6.5M in the project and will receive $648,301 in funding from the Minnesota Job Creation Fund once
Ally completes hiring and investment commitments.
Prime Therapeutics, Mendota Heights: $8M Capital Investment; 375 New Jobs
Prime Therapeutics plans to hire 375 workers in Minnesota over the next three years in 70,000 of newly leased space
in an existing Mendota Heights facility. The new jobs being created by the company will include pharmacists and
clinical review assistants.

7. Business Investment Team Market Visits (YTD)

8. Quarter 2 - Rankings
• Minneapolis became the first U.S. city on the world bike-friendly list.
o Copenhagenize Design Company’s Index of the most bike-friendly cities in the
world
• Minneapolis Ranked the healthiest city in America
o Livability
• Minnesota Ranked 2nd
best state for recent grads
o RealtorMag
• Minneapolis Ranked the most literate city
o Central Connecticut State University
• Minneapolis/St. Paul ranked America’s 2nd
greenest cities
o Travel and Leisure
• Minnesota ranked 2nd
best state for working moms
o WalletHub
• Minnesota ranked the 3rd
best state for a summer road trip
o WalletHub
• Minneapolis ranked best city for book lovers
o The Culture Trip
• Minneapolis ranked best metro area to work for a small business
o WalletHub
• Minneapolis ranked the 6th
best foodie town in the U.S.
o The Daily Dish

9. New Videos
Greater MSP Innovation Video:
https://youtu.be/qaEaOoqYCf4
Northern Spark Highlight Video:
https://youtu.be/9QqY3W1Pk7Q

10. New Publications
MSP Regional Indicators Life Science Brochure (updated)

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!