8.0. EDSR 03-08-2004 - Laserfiche WebLink

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TechTrends e-Newsletter I January 2004 Page 2 of 5 Ter t4-1*.es • Technology business news from around Minnesota. In response to a series of statewide roundtable discussions with manufacturers in October 2003, Governor Tim Pawlenty has appointed Diane Knutson as Minnesota's official advocate for manufacturers. Since 1995, Knutson has served as a business development specialist in the Department of Employment and Economic Development . Effective immediately, Knutson will work on behalf of the state's manufacturers by preparing policies and recommendations, and by helping to resolve regulatory issues. Governor Pawlenty has also dubbed Minneapolis, St. Paul, and Rochester as Minnesota's new "Bioscience Zone." Around $1 million in state subsidies will be used to encourage biotech companies to relocate to the three Minnesota cities. Further incentives will include exemptions from corporate franchise tax, sales tax on business purchases, and property taxes. The city of St. Paul will administrate the Bioscience Zone program. Audobon's TEAM Industries, a high-precision manufacturer of gears for power trains and drivelines, has received part of a $25,000 state-awarded grant to expand its business operations. The grant was awarded through the Greater Minnesota Business Development Public Infrastructure Program, which assists rural communities in stimulating development and creating jobs. Fairmont's Tyco Plastics plant has announced that it will close on February 6, eliminating as many as 100 jobs. The closing is part of Tyco International's restructuring plan, as announced by the company in November. According to Tyco, the plan will eliminate 7,200 jobs and will lead to the closing of 219 facilities worldwide. Brewster-area Minnesota Soybean Processors (MnSP), which produces soy-based agricultural feed meal and crude oil for food additives, has begun production at its new, 100,000-bushel capacity plant, which was completed last year. According to the company, MnSP hopes to begin construction on a biodiesel refinery in spring 2004, with biodiesel production scheduled to begin in 2005. Duluth-based Northstar Aerospace, a manufacturer of aircraft seats and precision- machined components for the aerospace and medical-device industries, made a total of $300,000 in capital investments in 2003. The purchase of new machines and equipment will be followed by the addition of jobs as the company receives new orders. For the last five years, Northstar Aerospace has doubled its business every year. The Mayo Clinic in Rochester has received approval from the Food and Drug Administration to use the BC-10 MRI coil-a device designed to increase MRI X-ray resolution. The devices are built at IBM's Rochester plant. New Flyer Industries, a Winnipeg, Manitoba-based bus company with production facilities in St. Cloud and Crookston, will be acquired from KPS Special Situations • Funds by Harvest Partners Inc. and Lightyear Capital LLC,two New York City-based private equity firms. According to KPS, the acquisition will close in the first quarter of 2004, with production continuing at both of its Minnesota facilities. New Flyer is http://www.minnesotatechnology.org/publications/techtrends/2004/January/printVersion.asp 3/2/2004