State Legislature Gets A Boost of Economic Optimism

Enterprise Minnesota presents findings from its first annual State of Manufacturing survey and urges support of the Growth Acceleration Program

It is not often that lawmakers hear good news these days. With the state facing a budget deficit of several billion dollars and employment ranks shrinking, they often hear glum news. This week, Enterprise Minnesota president and CEO Bob Kill told the State Senate Committee on Business, Industry, and Jobs that the state's manufacturers are optimistic, according to the first annual State of Manufacturing survey.

"Because Minnesota manufacturers have weathered this storm before, their confidence is high," said Enterprise Minnesota president and CEO Bob Kill. "It's sort of a simple situation. These companies say, 'last time we had tough road, the time before that we had a tough road, and we're still here.'"

The poll findings reveal that a full 79 percent of the state's manufacturing executives are "confident" about the future of their firms, even though a solid 59 percent predict America's recession will continue throughout 2009. Full survey results are available via www.stateofmanufacturing.com.

Kill was also before the committee to emphasize the value of the Growth Acceleration Program (GAP) to small manufacturers.

Kill notes that policymakers currently are weighing the value of manufacturing to Minnesota's economic recovery. GAP is a matching grant that provides resources to spur growth of small manufacturing businesses across the state. In 2007 the state legislature appropriated $750,000 for GAP. Since that time, more than 65 manufacturing enterprises have participated in GAP, which has fueled a $15 to $1 return on investment and helped manufacturers remain competitive during these unpredictable economic times.

"GAP is about helping companies with business improvements, helping them with the business side of improving job creation, and the job growth potential of their companies," Kill said.

Manufacturing has direct and substantial links to the health of other sectors of the state's economy. Manufacturing has the largest multiplier of all sectors. The National Association of Manufacturers found that every dollar in final sales of manufactured products supports $1.37 in other sectors of the economy.

Over the past four months, Enterprise Minnesota hosted legislators on tours of nearly 20 manufacturing companies using GAP funding to improve business. From East Grand Forks to Albert Lea, on the Iron Range or in Minneapolis, legislators saw the value of GAP to a company within their district.

"I want to thank Enterprise Minnesota. They helped a company greatly in my district, and we're hoping that it's going to result in bringing jobs back plus some more," said Minnesota State Senator Amy Koch (R-Buffalo).

State Senator Linda Scheid (DFL - Brooklyn Park) agreed about the importance of GAP, as two companies in her district have used the program to improve their business.

"I think [the Growth Acceleration Program] is really smart money that the state invested," Sheid said.

A 360 Degree Look at Leadership

When: February 25, 2009, 8:00 - 11:30 a.m.
Where: Unisys (2470 Highcrest Road, Roseville, MN)
Cost: $129 or Group Rate 4 for $475



Who Should Attend?
CEOs, General Managers, CFOs, CIOs, VPs, Mid Level Managers, & Supervisors

What to Expect?
Today's economy presents challenges for every company. Leadership during these times is crucial to success. Be prepared to meet the challenges ahead by learning from business leaders and experts from across the state as they discuss:

• Becoming a strong and valued leader in your organization
• Identifying the right strategies to develop other leaders from within your organization
• Fostering a motivated work culture
• Increasing productivity by leveraging your organizations strengths, drive, and ingenuity

Presenters:

• Chip Laingen, Executive Director, Defense Alliance of Minnesota 

Defense Alliance was named best Minnesota Veteran Small Business Champion of the Year in 2007 by the U.S. Small Business Administration

• Bruce Roselle, Founder, Roselle Leadership Strategies, 

Roselle was a winner of Best Business Book (bronze) and Best Self-Help Book (silver) for Fearless Leadership (Leader Press, 2006)

• Cheri Podzimek, CEO, Clearfield Inc.

Clearfield Inc. was named Business Turn Around Story of 2008 with the presentation of a Stevie Award for Women in Business to Podzimek for her role

Panelists:

• Jeanne Crain, Executive VP, M & I Bank
• Rob Tracy, Principal, LarsonAllen, LLP
• Joel Wittenbraker, President, MacTech

Moderator:

Bob Kill, President & CEO, Enterprise Minnesota

Register online at www.enterpriseminnesota.org or call our events line at 612.455.4239.

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