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<br /> April2004 Vol.3 No.4-
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<br /> Let's Invest in Minnesota!
<br /> By Jeff Gongoll, president, Elk River Area Chamber of Commerce,
<br /> MCCE Board Member
<br /> As stated in a recent press Not to put a damper on the positive as-
<br /> release, "an overwhelm- pects of our re-emerging economy, but
<br /> ing majority of Twin Cities businesses are Minnesota has had a history of under fund
<br /> planning to make new investments this ing its all-important business and capital
<br /> year in job growth,capital equipment and investment markets.Wisconsin seems to
<br /> new or expanded facilities. . ." This was have it together when it comes to invest-
<br /> according to a survey produced by the ment principles.They have established a
<br /> Center for Rural Policy and Development, policy of providing a modest allocation
<br /> Minnesota Technology Inc.(MTI)and the of its state pension funds into a venture
<br /> Minnesota Department of Employment capital fund that is dedicated to invest in
<br /> and Economic Development(DEED). early stage high tech and biotech compa-
<br /> nies locating within their state.
<br /> This is great news.Finally we maybe see-
<br /> ing the light at the end of that long tunnel Minnesota's state pension fund managers
<br /> of economic recovery. We have already have resisted this approach for years for a
<br /> been seeing the upturn from our manu- variety of management policy and philo
<br /> facturing sector in their operations and sophical reasons including the "prudent
<br /> production. But up until now it has been a investor"rule which implies that pension
<br /> "jobless" activity. Now, according to this fund managers are careful to protect the
<br /> report,we may be able to see and feel the security of the pension funds.A long es
<br /> other part of the upturn with investments
<br /> in equipment and human capital. Invest in Minnesota continued on page 6
<br /> Washington D.C. Trip
<br /> Over fifty people, representing 16 chambers of commerce, are regis-
<br /> IN it
<br /> tered for the upcoming MCCE trip to Washington D.C.Over April 27-
<br /> '11 w 29,the Minnesota delegation will have a very unique opportunity to
<br /> r be a part of the national political scene.Besides meeting with the
<br /> `' Minnesota Congressional Senators and Representatives on Capi-
<br /> P4tol Hill,the group will attend a White House Briefing,in which
<br /> White House officials will include an inside look at the work-
<br /> N. Ings of the executive branch.Later in the day,the participants
<br /> olikk ',,\ will be in the audience for CNN's Crossfire,the daily po-
<br /> litical commentary program. Special thanks to Teresa
<br /> Bohnen,St.Cloud;Doug Loon,U.S.Chamber and Vicki
<br /> irk ,. Stute,Saint Paul for their help on this event.
<br /> IIIIIII
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