NEWS ALERT from The Wall Street Journal April 2, 2004
U.S. nonagricultural payrolls rose by 308,000 in March, the fastest pace in four years, besting economists' consensus estimate for a rise of 120,000 jobs. But the unemployment rate rose a tenth of a percentage point to 5.7%. ~~~~~~~~ [MH] I've seen the proposed layout for the old Sear's site and it looks impressive with the adjoining hotel and international marketplace. However, many of the new jobs will be low-paying retail-oriented service positions; but jobs nonetheless. Allina will likely be providing better paying jobs, but the real trick will be attracting well-paying jobs in the non-Allina/non-marketplace portions of the development. Tech-oriented businesses and possibly a couple of small manufacturers would sure be nice. Proximity to the U of M, new and existing Allina facilities, nearby science/med-oriented businesses (labs, etc.), and the downtown financial district should prove attractive to business owners and investors. Hopefully our local economic development folks (CPED), and project developers are working with the many business associations, regional Chambers, and new venture groups to make the case and attract good value-added businesses to the project. Business tax rates have been reduced in Minnesota and interest rates are at record lows-- now is the time to invest. Many of these new workers just might end up relocating their residency to Minneapolis as well... now that's a win-win deal. The ability to choose to live in one of our many neighborhoods, near the river front downtown, along the Greenway or along the LRT corridor only adds to the attractiveness for business owners and employees alike. No additional public subsidies should be required. It's time to start applying new business development tax increments to the general fund and debt reduction now. This should be a marketing effort, not a financing effort for City leaders. TIFF needs to take a rest in Mpls. Michael Hohmann Linden Hills www.mhohmannbizplans.com REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
