ROCHESTER, Minn. (KTTC) – Rochester’s business community looked to the future during Tuesday’s economic summit.
The Rochester Area Chamber of Commerce has high hopes for the financial future after hosting the Southeast Minnesota Economic Summit.
Representatives from several industry sectors voiced their hopes and concerns for 2019.
Some are cautiously optimistic, citing GDP growth and low unemployment rate.
Others are in financial distress, particularly in agriculture, where soybean corn prices are being hit by the trade way with China.
In the Med City, Mayo Clinic looks to expand on a number of projects.
“Even over the next few years, the number that I was given yesterday was over a billion dollars in facility and capitol investments between now and 2021 so that’s a lot of money in a short time period,” said Piper Su, Mayo Clinic Community and Government Engagement.
Representatives from the federal reserve were also in attendance.
Meanwhile, the labor shortage is giving construction companies difficulty in finding new hires.
Tim Worke, CEO of Associated General Contractors of Minnesota, said migrant workers are necessary to fulfill this need.