Business News: New GF Homes… ACME & CVB
US employers added 467,000 jobs in January, a sign of the economy’s resilience, even in the face of a wave of omicron infections last month. The government report also significantly revised up its estimate of job gains for November and December by a total of 709,000. He also said the unemployment rate had fallen from 3.9% to a still low 4%.
Average long-term mortgage rates in the United States remained stable for a third straight week after rising about 0.5% at the start of the year. The average 30-year loan rate held steady at 3.55% from a week ago, mortgage buyer Freddie Mac reported Thursday. It was 2.73% a year ago. The average rate on 15-year fixed-rate mortgages, popular among those refinancing their homes, fell to 2.77% from 2.80% last week. A year ago, the rate was 2.21%.
A new monthly report shows that a loss of manufacturing jobs combined with other factors has slowed regional economic growth in nine Midwestern and Plains states. The January headline index from Creighton University’s Central American Business Conditions Survey released on Tuesday fell to 56.2 from December’s 64.6. Any score above 50 on the survey indices suggests growth. The survey includes Dakota and Minnesota.
The Labor Market Information Center has released the latest Online Job Openings Report (OJOR), a monthly summary of online job openings and active CVs from the Job Service labor exchange system. North Dakota. North Dakota had a total of 16,618 online job openings open and available in January 2022, a change of -2.7% (-455) from the previous month and +25.6% (+ 3,390) compared to the same month a year ago.
Respondents to an annual survey of business conditions in the manufacturing sector conducted by the Minnesota Department of Employment and Economic Development (DEED) and the Federal Reserve Bank of Minneapolis say they expect a recovery in 2022. For 2022, more than 50% of respondents expect salaries to increase between 3 and 5%, and 34% expect benefits to increase between 3 and 5%.
ACME Tools is asking the JDA of Grand Forks to approve a PACE loan of $76,697 to help support the expansion of the company’s e-commerce business model. The financing will leverage a $142,436 loan from the Bank of North Dakota to help reduce interest on a $3 million private loan. The move is expected to create 48 jobs. The application has already been approved by the Grand Forks Growth Fund Committee. The JDA will take the request Monday evening.
University of North Dakota President Andrew Armacost will chair the inaugural UAV Technology USA Conference Monday and Tuesday in Arlington, Va., which will bring together speakers from around the world to discuss technology and training for aerial vehicles unmanned (UAV) military. Armacost says the conference is an opportunity to identify how UND academic and research programs can continue to develop to meet national security needs.
Grand Forks issued permits for 99 single-family homes and 47 townhouses in 2021. According to a planning report, the city averages about 100 single-family permits per year. Grand Forks also added 168 multi-family units last year. The report suggests that to keep up with the average community growth rate, Grand Forks would need to see around 300 multi-family units built each year.
The US Department of Health and Human Services (HHS) has awarded Mayville State University $1,089,740. Head Start funds will support the school readiness of young children and toddlers from low-income families by improving their cognitive, social and emotional development as well as early learning, health and family well-being.
A new grant from the Minnesota Department of Agriculture (MDA) will help gas stations in Minnesota that want to offer customers more and greener options at the pump. The Agricultural Growth, Research and Innovation (AGRI) Biofuels Infrastructure Grant Program will award up to $6.6 million to offset the cost of investing in retail petroleum distributors, fuel storage tanks and other equipment certified compatible with fuel blends containing at least 25% ethanol. Applicants can request up to $199,000 for an individual project and a minimum of $5,000.
Stellantis is recalling nearly 202,000 Ram pickup trucks and Chassis Cabs for tightening a loose nut that may prevent the windshield wipers from working properly. The recall affects certain Ram 2500 and 3500 pickups and certain 3500, 4500 and 5500 Chassis Cabs. They are all from 2019 and 2020, and most are in the United States and Canada.
Tesla is recalling more than 817,000 vehicles in the United States because seat belt reminder chimes may not sound when vehicles are started and the driver is unbuckled. Documents released Thursday by safety regulators say the recall covers the 2021 and 2022 Model S sedan and the Model X SUV. Also included are the 2017 to 2022 Model 3 sedan and the 2020 to 2022 Model Y SUV.
Visit Greater Grand Forks has unveiled the Official 2022 Visitor’s Guide. 40,000 copies of the publication have been printed and will be distributed to hotels and local businesses, Minnesota State Information Centers/Rest Areas and North Dakota, CAA offices in Manitoba, University of North Dakota, Grand Forks Air Force Base and Grand Forks International Airport. .
The Circle of Friends Human Society will hold an open house for its new medical department at 4375 North Washington on February 10. The cost of the project was approximately $600,000. Tours will be available between 11:00 a.m. and 6:30 p.m.