St. Cloud Area Quarterly Business Report Vol. 21 No. 2

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, financial 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 firms 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 affected nearly two-thirds of surveyed firms. 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 firms rank local business costs as average