GF Business News: ND Mill…downtown Cookie shop & restaurant closing

Americans stepped up retail spending modestly from July to August as the price of gasoline jumped, cutting into budgets as many families send their kids off to school. Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July. The big rise in gas prices accounted for more than half of the inflation increase recorded in August according to the U.S. Labor Department.

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More than 50 employers from a variety of different industries will be at the Multi-Industry Job Fair in Grand Forks on September 21st. The latest Online Job Openings Report suggests there are 14,016 online job postings statewide. Region 4 claims 1,817 of them. The industries with the most openings in the region include: Healthcare, professional and technical services, and retail trade. The event will be held at the Alerus Center 1-4 p.m.

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The state Mill and Elevator in Grand Forks had a very good year in fiscal 2023. Mill manager Vance Taylor says for the fourth quarter of the fiscal year, the Mill reported $5.9 million in profits. And for the full fiscal year, Taylor says the mill made $17.2 million, compared to $14.7 million in fiscal 2022.

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Americans still have a lot of credit card debt. According WalletHub the total tops $1.2 trillion dollars nationwide. The financial website crunched data from TransUnion and the Federal Reserve in compiling the data. The analysis says North Dakota’s credit card debt increase ranks as the 3rd lowest in the nation. The average household in the state owes $6,848 in credit card debt.

https://wallethub.com/edu/credit-card-debt-by-state/128227

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The North Dakota Department of Commerce has launched a revised Innovate ND grant reimbursement program designed to help North Dakota entrepreneurs further their business by supporting customer and market research. Program participants are eligible for up to $22,500 in reimbursable expenses to be paid through an Entrepreneur Center. Eligible businesses can find further information and submit an application on the Innovate ND website.

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A new poll released by the Lignite Energy Council suggests support in North Dakota for carbon Capture technology. According to Public Opinion Strategies 69% expressed unwavering support for implementing carbon capture technology. 72% of participants voiced their belief in the significance of North Dakota’s coal industry for the state’s economy and energy security. The polling, occurred between June 14 and 18, and included a sample size of 400 North Dakota residents.

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A report by the Alliance for Automotive Innovation supports 17,781 jobs in North Dakota. Further finding suggest the average age of a light-duty vehicle in the state is 14 years. Across light-duty vehicle segments vans represent 4.7%…cars 22.1%…utility vehicles 34%…and pickups 35.7%.

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The City of Grand Forks has issued a building permit for the fit-up of a downtown site for Insomnia Cookies. The price-tag on the build at 416 DeMers Avenue is listed at $278,181 dollars. A link on the company’s website says a Grand Forks location for the cookie shop is coming soon.

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The Red Shed Smokehouse in Grand Forks issued a statement on social media this weekend saying with great sadness they would no longer be open for business. The statement goes on to say they appreciate all the support they received while they were operating. The business was located at 3450 Gateway Drive.

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AGCO will be an anchor tenant for the Grand Farm Innovation Campus near Casselton. The Georgia-based company plans to build a 300-acre operation dubbed Dakota Smart Farm at Grand Farm. The initiative aims to develop innovative farming practices to create a sustainable farm, focusing on precision ag technologies and retrofit solutions for existing machinery.

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Takeda Pharmaceuticals has completed a $45 million investment project to increase production capacity and create new jobs at its facility in Brooklyn Park. This announcement was made during a business development mission to Japan by Governor Tim Walz this week.

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Minnesota Department of Employment and Economic Development (DEED) Commissioner Matt Varilek has announced changes to the portfolios of two senior agency leaders to better align with their responsibilities for Minnesota workers and businesses. Effective immediately, Elizabeth Frosch, DEED’s Assistant Commissioner of Operations, will serve as Deputy Commissioner and Chief Operating Officer. Evan Rowe DEED’s Deputy Commissioner for Workforce Services and Operations, will now be Deputy Commissioner for Workforce Services and Transformation.

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Apple this past week unveiled its next generation of iPhones — a lineup that will boast better cameras, faster processors, a new charging system and a price hike for the fanciest model. Apple is holding the line on prices for rest of the lineup, with the basic iPhone 15 selling for $800, the iPhone 15 Plus for $900 and the iPhone 15 Pro for $1,000. All the new models will be available in stores Sept. 22.