Business News: Yelloh layoffs…GF taxes & pizza

The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace. The economy expanded last quarter at the fastest pace in more than two years — and more than twice the 2.1% annual rate of the previous quarter.

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About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period. That’s according to a new poll from The Associated Press-NORC Center for Public Affairs Research. Just 15% say their household savings have increased over the last year.

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The food delivery business Yelloh — formerly known as Schwan’s Home Delivery — is cutting 750 jobs nationwide and closing 90 delivery centers.

The closures for the Minnesota-based company will begin Dec. 8. The company will continue to serve 18 states with its iconic yellow trucks. Customers elsewhere will get deliveries via UPS. Yelloh trucks will continue to deliver in Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Michigan, Minnesota, Missouri, New York, Ohio, Pennsylvania, South Dakota, Texas, Vermont, West Virginia and Wisconsin.

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For only the second time this year monthly sales tax collections in Grand Forks slipped below the $2 million dollar figure. The city collected $1,979,671 dollars in the October check. That pushes YTD payments to $26.4 million dollars – or 1.96% over one year ago. The ¼% component of the tax is up 7%.

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The North Dakota Housing Finance Agency hit a milestone this fall. The FirstHome program reached 50,000 loans. The program provides mortgage loans to low and moderate income households. Homes from 363 communities across the state have been financed to date. Mortgage loans originate through private-sector lenders and are sold to NDHFA after closing.

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The unemployment rate in Grand Forks County slipped even lower in September. The local jobless figure came in at 1.3%. That compares to 1.4% one year ago. The county reports a labor force of 37,911. Among North Dakota’s 52 counties only four have rates at two-percent of higher. Rollete County was tops at 2.9%.

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Minnesota outpaced the nation in annual growth rate in September – most notably Construction , which gained 7,322 jobs, up 5.1% compared to 2.7% nationally. The strongest over-the-year construction growth in Minnesota was in Heavy and Civil Engineering Construction (8.3%), Building Equipment Contractors (7.6%), and Specialty Trade Contractors (5.8%). The Manufacturing sector lost 1,721 jobs in Minnesota down 0.5%.

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Data from the North Dakota Aeronautics Commission says the state saw 1,371 commercial airline flights in September. With 111,180 total seats the average load factor was around 83%. Delta continues to be the dominate carrier capturing 44% of the market share. United was second with 27%. Allegiant and American followed with 13% apiece.

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The use of social media among teens is nearly universal in the U.S. and many other parts of the world. Almost all teens ages 13 to 17 in the U.S. report using a social media platform, with about a third saying they use social media “almost constantly.” The share of teens who say they use Facebook has plummeted from 71% in 2014-15 to 32% today. YouTube tops the 2022 teen online landscape among the platforms covered in the Center’s latest survey at 95%.

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The City of Grand Forks has issued a building permit for the fit-up of a Domino’s Pizza at 801 South 42nd Street Suite A. The price on the permit is $300,000 dollars.

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The Pride of Dakota Holiday Showcase returns to Grand Forks this week. Over 100 companies will set up shop at the Alerus Center on Friday and Saturday. It is administered by the Business, Marketing and Information Division of the Department of Agriculture. Over 500 North Dakota businesses are members. The program showcases North Dakota made products.

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Donald “Don” J. Laughlin, a resort owner and the namesake of a southern Nevada town that he turned into a tourist destination, has died. He was 92. He died of natural causes. The town of Laughlin is home to eight casino resorts.