Minnesota exports of agricultural, mining and manufactured products grew 1.2 percent (up US$64 million) between the second quarters of 2011 and 2012 to US$5.4 billion. That broke the previous quarterly record of US$5.3 billion, set in the second quarter last year. U.S. export growth was 5.6 percent during the quarter.
Among all states, Minnesota ranked 20th in exports. Among the 20 largest exporting states, only Massachusetts experienced decreased exports during the period (down 18 percent).
Minnesota manufactured exports were up 3.4 percent to US$4.9 billion in the quarter, while U.S. manufactured exports increased 7.5 percent.
Currency is fast becoming a key topic of conversation for bankers, reports Diao Ying in London.
The fashionable youths in hot pants flocking to high-end department stores in London and bankers in dark suits walking in and out of skyscrapers in the financial district have one thing in common, a growing interest in the Chinese currency.
During the recent holiday to celebrate the Diamond Jubilee of Queen Elizabeth II, Harrods, a department store known for its ties with the British royal family, launched its own Sina Weibo, a popular Chinese social media platform, to attract more Chinese customers. Shoppers can find "the very latest, limited edition and exclusive products", with Hermes, Chanel and Louis Vuitton among the most popular brands, according to the store's spokesman.
Minnesota exports of agricultural, mining and manufactured products grew to US$20.3 billion in 2011.
• The state’s exports increased US$1.4 billion (or 7.3 percent) between 2010 and 2011, continuing their recovery from the economic downturn.
• The US$20.3 billion threshold is a record for Minnesota exports of goods, exceeding the previous record of US$19.2 billion in 2008.
• Minnesota moved up to 19th in exports among all states, as Kentucky dropped to 20th place.
By Greg Hugh, Staff Writer
The Minnesota Trade Office, supported by a grant from the McKnight Foundation, commissioned and guided a study by a team from the University of Minnesota’s Carlson Consulting Enterprise to determine how Minnesota can best benefit from an EB-5 program and to identify the best practices for establishing and operating EB-5 regional centers.
The EB-5 Immigrant Investor Program has been promoted as an economic development tool that offers U.S. residency in exchange for direct investment, often targeting rural and distressed areas.
The EB-5 visa for immigrant investors is a United States visa created by the Immigration Act of 1990. The Regional Center provision of the program is currently scheduled to end on Sept. 30, 2012. This visa provides a method of obtaining a green card for foreign nationals who invest money in the United States. To obtain the visa, individuals must invest US$1,000,000 (or a minimum of US$500,000 in a "Targeted Employment Area," i.e., a high unemployment or rural area), creating or preserving at least 10 jobs for U.S. workers excluding the investors and their immediate family. Investments can be made directly in a job-generating commercial enterprise (new, or existing - "Troubled Business"), or into a "Regional Center" - a third-party-managed investment vehicle (private or public), which assumes the responsibility of creating the requisite jobs. Regional Centers may charge an administration fee for managing the investor's investment.
By Anthony James, Staff Writer
Mike Daisey doesn’t claim to be an expert on China. The writer and actor has stated publicly that he doesn’t have extensive knowledge of Chinese customs or culture. But Mike is a Mac Head, a self-proclaimed aficionado of Apple products. In his one man show: The Agony and Ecstasy of Steve Jobs, Mike recalls his trip to China, visiting the factories that make his beloved gadgets, and recounting the first hand accounts of poor labor practices.