IEDC Celebrating Manufacturers Month With Oct. 13 Breakfast | Monticello

The City of Monticello Industrial Economic Development Committee (IEDC) will be hosting a Manufacturers Appreciation Breakfast on Thursday, October 13, 2022 at 7:00 a.m. at the Monticello Community Center. The event will recognize local manufacturers’ impacts and contributions to the community and include a keynote speaker, Dr. King Banaian, St. Cloud State University (SCSU), Economist, Dean and Professor of Economics, School of Public Affairs (SOPA). Manufacturing’s impact in Minnesota’s economy is well documented both past present. Minnesota’s manufactures make products that are used in all aspects of life and help improve the quality of life. They include windows and doors, medical parts such as stents and replacement heart valves, lawn mowers, small engines, hand tools, transit buses, and farm equipment. The average annual wages for workers in manufacturing are $74,630. In the coming years, an additional 75,000 job openings will need to be filled in the manufacturing sector throughout Minnesota.

Monticello’s manufacturing sector is comprised of approximately 36 firms with over 2,400 employees. The impact in wages and benefits that they provide in the local economy is significant. The total aggregated payroll from the local manufacturing firms is estimated to be approximately $157 to $165 million dollars annually. Industrial firms, through real estate property tax payments, comprise approximately 55 percent of City of Monticello’s tax revenues. For the 2018 tax pay year, the latest available compilation, 6 of the City’s 15 largest property taxpayers were industrial firms.

Local manufacturing firms are engaged in a variety of business activities. Several of them are involved in precision machining of hand tools or small medical parts. Another firm makes engine components for recreational vehicles. Others are involved in fabricating stamped metal components. Another firm makes wood and laminate cabinets for commercial and residential uses. Still another firm transforms resins into plastic parts, while yet another firm fabricates magnesium and aluminum dye cast enclosures.

Many communities are celebrating by recognizing their manufacturing firms with some arranging tours of businesses as well. For the Monticello IEDC breakfast event, students interested in manufacturing careers are welcome to attend along with the leaders and employees of local manufacturing firms. Sponsors of the event include Riverwood Bank, Sherburne State Bank, Xcel Energy, WSB & Associates and CRS (Commercial Realty Solutions). If interested in attending, contact the City of Monticello, 763-295-2711 to register.

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