• For now, we know that the state’s new estimate is a $4.7M deficit over the next 2 years (article is below).
• We also know that Minnesota’s unemployment rate is at 8.5%. The national unemployment rate is 11.1%.

• Marvin Restores Employee Pay, Benefits Amid Housing Rebound From Twin Cities Business:, July 31: The Warroad-based manufacturer halts factory furloughs and will return salaries to pre-pandemic levels on August 1. Marvin is a fourth-generation member of the family that owns the Warroad-based business, which now employs more than 6,000 people. “Marvin has not laid off any employees,” Paul Marvin told TCB on Thursday. That was one of the company’s overarching goals.

• Minnesota State Fair Food Parade has sold out!

• Construction downtown continues!  The Viking Building and Cleveland Circle are well underway. And just this month The Gallery St. Paul broke ground at Wacouta and 9^th streets.
• Osborn370 filling up! In the middle of a pandemic, in the middle of the downtown of Minnesota’s capital city, two 10,000 square foot leases have been signed – and more on the way – at Osborn370. Business is still happening, and companies large and small are coming together in Saint Paul.

• Minnesota’s Safe Learning Plan: See the details of the full plan.
• 7-day rolling average is now at 5.1%. Goal is to stay under 5%. 
• Pace of growth: US adds more than 100K cases and 100 deaths/day.
• In MN: 622 more cases yesterday, to 56,560 total cases. Over 2,000 new cases in total over the weekend.
• Median age remains at 36 yo.
• We've been noting the declining hospital census. Though we do anticipate increased hospital cases as # of cases increase.
• 10.4% increase in total testing volume, vs 9.2% increase in new positive cases, measured week to week.
• Compliance with EO
• 370 complaints now, through Environmental Health Division, from restaurants and bars.
• Rodeo in Itasca Cty, Sturgis going ahead at EOM August… remind people that our decisions impact our families - and others' families.

• There is an ask for plasma donations: "convalescent plasma." for those who had COVID-19. they have antibodies in their plasma, and is being researched as potential treatment for COVID-19 infections. Red Cross, Memorial Blood Centers and others are asking for donations to help in this research.
• Blood banks need general donations as well.

• Minnesota has lost a greater share of revenue than most states due to COVID-19 From MPR, August 3: March arrived with a projected $1.5 billion surplus; a state estimate released Friday said the revenue shortfall would reach $4.7 billion for the next two years.

• Hardest Hit Neighborhoods The economic impact of the COVID-19 pandemic has put thousands of Twin Cities residents at risk of losing their homes. Over the past four months, more than 400,000 workers in the region have filed applications for unemployment insurance. While the economic disruption has hit hard across our entire region, some communities and households are feeling the effect disproportionately and are at greater risk of losing their homes. Family Housing Fund partnered with Wilder Research to overlay data on unemployment claims with what we already know about households who were struggling to pay for housing before the pandemic. We identified the zip codes, occupations, and household types (ie. with or without children) where housing security was hit hardest by the pandemic. We hope this data will inform federal, state, and local COVID-19 emergency response efforts to prevent people from losing their homes Read the report and explore the data.

• Mask distribution: still need masks? Contact a chamber near you; most of us have a limited number still available. Coordination for on-site pick-up at SPACC is through staci@saintpaulchamber.com.

• Hotel owners have cut to the bone to weather COVID-19. Many still haven’t cut deep enough. From the Minneapolis/St. Paul Business Journal: Unprecedented chaos still rattles hotels roughly five months after Covid-19 began coursing through the nation. The virus has inverted fundamental economics of the hospitality business, and forecasters don’t anticipate a full rebound from the devastation until two to five years from now. Hoteliers are bracing for a recovery that’s longer and more volatile than the aftermath of the Great Recession.

• Minnesota schools reopenings to follow county virus data. Here’s how that might look today. From the Pioneer Press: The prevalence of new coronavirus cases in each county should be the starting point for school leaders as they consider which models of instruction they’ll employ this fall, Gov. Tim Walz and state education leaders said Thursday. Counties with fewer than 10 new cases per 10,000 residents over the most recent 14-day period can consider fully reopening for in-person instruction, according to the state’s guidance. Schools should move to more distance learning if new case rates are higher.

• New data warns of ‘potential softening’ of state’s economy From Finance & Commerce: Minnesota’s unemployment rate remains lower than the nation’s as a whole thanks in part to the state’s diverse economy, but that doesn’t tell the whole story. One thing to watch is hourly work levels, which rose in June but have flattened since, according to a new dashboard from the Minnesota Chamber Foundation, a provider of research and information about the state’s economy and workforce.

• Remote Work Likely To Continue With School Plans In Flux From Twin Cities Business: With the specifics of many Minnesota districts still in question, many companies have held off on announcing fall plans. Target, the largest employer in Minneapolis with more than 8,000 workers according to a 2019 report, has no plans for a full fledged return to headquarters this year. “Our priority continues to be the safety and well-being of our team,” a spokesperson said Thursday. “We’re taking a gradual approach to returning to the office with the vast majority of team members working remotely—either full-time or combined with going into the office—for the rest of 2020.”

• Xcel posts profit increase despite effects of COVID-19 on electricity demand From the Star Tribune, July 30: COVID-19’s grip on the U.S. economy has sapped electricity demand at factories and offices — and Xcel Energy hasn’t been spared. Still, Minneapolis-based Xcel notched a healthy increase in second-quarter profits as hot weather and cost cutting helped offset a 7% decline in its weather-adjusted electricity sales.

• What COVID costs CEOs: A global pandemic and a worst-in-decades economic shock bring down corporate paychecks. For now. From Twin Cities Business, July 30: At least 20 Minnesota public companies cut CEO salaries during the second quarter, according to Business Journal research. Reductions ranged from 20% to 100%, lasting anywhere from a couple of months to a year.

• These Minnesota colleges could ‘perish’ after pandemic, researcher claims    From the Minneapolis/St. Paul Business Journal, July 29: Colleges and universities have already lost hundreds of millions of dollars in revenue to the Covid-19 pandemic. They're now scrambling to see how — or if — they can bring students back to campus this fall. And it could get worse: A New York University professor scored hundreds of U.S. colleges and universities on their prospects in the aftermath of the pandemic, predicting that dozens will fail due to revenue streams being too closely linked to tuition. On his list in MN: Bethel, College of St. Benedict, Concordia Moorhead, Macalester, St. Scholastica

• Last week Senate Republicans introduced several bills that comprise the HEALS Act (Health, Economic Assistance, Liability Protection, and Schools), $1 trillion COVID-19 stimulus package (included is expanded access to the PPP to 501c6 organizations). The package includes extension of additional UI benefits, $200 extra per week – down from $600/week that expired at the end of July. See here for an overview provided by the American Society of Association Executives (ASAE).

• See available SBA COVID-19 training here.

• For more on SBA programs for the coronavirus, please visit www.sba.gov/coronavirus.

• Minnesota Chamber’s COVID-19 Business Toolkit has a dedicated section for employment guidance that can help.