St. Cloud Area Quarterly Business Report

Publication Title

St. Cloud Times

Document Type

Research Study

Publication Date

6-9-2019

Abstract

With year over year job growth of 2.1 %, St. Cloud outperformed both the state and Twin Cities in job creation. The construction, manufacturing, educational/health, financial activities and other services sectors of the local economy led the way in employment gains, while the retail trade, professional and business services and information sectors shed jobs. The future outlook of surveyed firms and the St. Cloud Index of Leading Economic Indicators point to continued growth over the next several months. The Nov. 1 closure of Electrolux is the biggest challenge facing the local economy. A summary of the estimated contribution of Electrolux to the local economy appears in this report. The winter weather negatively affected nearly two-thirds of surveyed firms. A majority of survey respondents feel the local business environment is good. Businesses also feel there is good access to resources in the St. Cloud area. Most firms rank local business costs as average.

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