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10/1 h12ice&Commerce>Print>Counting construction jobs proves difficult <br /> have created or retained 400 permanent jobs in the process. Both were forgivable loans: <br /> $1.8 million to Wellington Management for the River Bend Business Park and $500,000 to <br /> steelmaker Gerdau for new caster equipment. <br /> The Associated General Contractors of <br /> Minnesota claims to have an answer on h' z <br /> the jobs question. We <br /> The group has used George Mason !�y ' <br /> University Professor Stephen Fuller's a'1 <br /> formula of 28,500 jobs per$1 billion of <br /> construction investment. With $510.6 � 1 <br /> million-worth of construction benefits, the <br /> state jobs bill program has employed or is <br /> employing 14,552 construction workers, s 1ft according to the formula. <br /> ffi <br /> No matter the priorities of local officials, <br /> construction industry leaders think the <br /> program helped Minnesota's construction Frana Construction's work on the 212-apartment, <br /> Indust turn a corner after losing about 22-townhome Genesee project brought roughly <br /> industry 9 250 construction jobs to the site in Bloomington. <br /> 50,000 jobs during the Great Recession. (Staff photo: Bill Klotz) <br /> The construction sector is presently up <br /> 4,400 jobs over the past 12 months. <br /> Roseville-based McGough was a big winner under the program. <br /> Besides working on the $15 million Target store in Inver Grove Heights, which received $1.25 <br /> million, McGough was general contractor for the $14 million expansion of Cossetta Italian <br /> Market & Pizzeria in St. Paul. The expansion was partially funded with $1.6 million in a <br /> combination of a forgivable loan and market rate loan from the city of St. Paul. <br /> McGough also was the general contractor for an $8 million commercial remodeling in Coon <br /> Rapids, which received a $340,000 grant. Bayer Medical Care's Medrad business promised to <br /> retain 220 jobs and create at least 30 more in return for the Coon Rapids grant, but <br /> construction job numbers were not available. <br /> Greg Munson, vice president of development at McGough, was not sure how many <br /> construction jobs the program produced for his company but was sure it made a difference. <br /> "There's significant depth on the bench with the labor trades, so every job is important," <br /> Munson said. <br /> MORE ARTICLES ON THIS INVESTIGATION: <br /> The great property tax free-for-all <br /> How the TIF program worked, and how we reported it <br /> With loans to developers, all was usually forgiven <br /> Local officials have mixed views about lobs program <br /> CHART: Tracking construction and permanent jobs <br /> CHART: Following the money <br /> Complete URL: http://finance-commerce.com/2012/10/counting-construction-jobs-proves-difficult/ <br /> finance-commerce.com/wp-content/plugins/tdc-s ociable-toolbar/wp-print.php?p=52338 3/3 <br />