Executive Moms Take Us Inside the New Work Day

Amelia Williams Hardy, a vice president at Best Buy, and her son SUPER Elijah POWERS

Executive moms take us inside the new work day

APRIL/MAY 2021

ALSO IN THIS ISSUE: WCCO Radio at Community Impact a Crossroads Awards 0Cover2.indd 1 3/25/21 8:42 AM You have a vision. We’re here to see it through.

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1Ad.indd 1 3/25/21 8:34 AM TCB contents

APRIL | MAY 2021

FEATURES COMMENTARY 3 2 | The Shrinking Neighb or 6 | Ed itor’ s Note Approaching its centennial, WCCO Radio remains the storied icon of Twin Cities broadcasting. Allison Kaplan But does the Good Neighbor have the stamina to make it in its next century? By Adam Platt A ‘flexible’ workplace 3 8 | Working Moms Recal ib rate Corporate Life needs to be about more Children’s distance learning and work-from-home demands are increasing stress on working than where we plug in mothers. Yet three Minnesota women executives are carving out distinct paths to raise their our laptops. children and build fulfilling careers. By Liz Fedor 8 | G uest Commentary 4 9 | Community Impact Aw ard s Stephanie Pierce Recognizing a dozen businesses and nonprofits that are meeting myriad needs to help create a Why it took leaving a more equitable Twin Cities. By Tess Allen, Burl Gilyard, Dan Niepow, and Gene Rebeck high-ranking corporate

3 2 job for this executive to realize her true value. TRENDING & SPECIAL COVERAGE

5 8 | Notable | Notab l e Lead ers in F inance & Notab l e Executiv es in Marketing 22 | Pl anting Seed s Best-in-class executives and leaders in finance and marketing. By Tess Allen and Gene Rebeck Rajiv Tandon Too many entrepreneurs 7 5 | Commercial Real Estate | Home Sw eet Office? give up too quickly Companies are focused on making their offices attractive collaborative spaces in the post-Covid because we have no era, which likely will feature dividing work time between home and the office. By Burl Gilyard ecosystem to support them.

24 | Performing 10– 18 | STARTERS Phil anthropy Sarah Lutman Al l Vacancy | The Minneapolis and St. Paul hotel market has been uniquely hard-hit. 2020 revealed 3 8 COVER STORY Can all the properties survive? underinvestment in Is Shrimp Del ayed , Shrimp Denied ? | A Minnesota/South Dakota shrimp farm has big plans management training and a few orders, but no funds to build. and HR competency within nonproﬁts. The F ine Print | Small businesses are the hardest hit by the pandemic recession.

Unempl oyment and New Business Starts | Bad economies may not be good times for 26 | Col umn™ entrepreneurship, but necessity is the mother of invention. Aaron Keller How our viewing Right to Recal l | Local government wants to tell the hospitality industry how to repopulate habits inform brand its businesses. engagement. Verified : Make it Work | Three pandemic product adaptations—personal and professional. 28 | Working It This G ood Office Day Comes from the G ard en | From the founder of russel + hazel, a new Linda L. Holstein collection of sustainable office products. Assessing the outsize 4 9 Office Env y | From the rooftop deck to high-tech conference rooms, Bridgewater Bank is impact of immigrant confident employees will be eager to return to its new St. Louis Park headquarters when it’s safe. entrepreneurs in Minnesota.

20 | AMPED UP 3 0 | Pl attitud es Adam Platt Wel l ness Within Your Ow n Wal l s | Three local startups bring health to your home. RIP the ofﬁce. Long may it prosper.

80 | Open Letter ALSO INSIDE Vance Opperman Taxing you for the Suppl ement | The 2020 Minnesota Census of Women in Corporate Lead ership | government-mandated St. Catherine University’s annual examination of the state of women in executive and shutdown. 10 director roles.

ON THE COVER:

TWIN CITIES BUSINESS, Vol. 28, No. 4 © 2021 MSP Communications. The opinions of columnists are their own. Unsolicited manuscripts or artwork will not be returned unless accompanied by a self-addressed, stamped envelope. Photograph of Amelia Williams Telephone 612-339-7571. Fax 612-339-5806. E-mail: [email protected]. TWIN CITIES BUSINESS (ISSN 1072-673X) is published monthly by MSP Communications, 901 N. 3rd St., Suite 195, Minneapolis, MN 55401. Subscriptions Hardy, a vice president at available for $24.95 per year; foreign subscriptions, $169.00 per year. To subscribe or change address, visit tcbmag.com/subscribe/. Periodicals postage paid at St. Paul, MN, and at additional mailing ofﬁces. POSTMASTER: Send all UAA to CFS. (see DMM 507.1.5.2); NON-POSTAL AND MILITARY FACILITIES: send address corrections to TWIN CITIES BUSINESS, Subscription Processing, P.O. Box 5846, Harlan, IA 51593. Best Buy, by Eliesa Johnson

2 TWIN CITIES BUSINESS | APRIL/MAY 2021

2TOC.indd 1 3/30/21 11:01 AM 3Ad.indd 1 3/25/21 8:34 AM Sponsored Content

SVP/Own ed Med ia J ayne Haugen Ol son Pub l isher Ed itor in Chief Shel l y El more Al l ison Kapl an [email protected] [email protected]

Executiv e Ed itor Ad am Pl att [email protected] 5 signs it’s time for Senior Ed itor Liz F ed or [email protected] Associate Ed itor Tess Al l en [email protected] Senior Writer Burl G il yard [email protected] a package redesign by Veritiv Corporation Digital Ed itor Dan Niepow [email protected] Northern Minnesota Correspond ent G ene Reb eck [email protected] Copy Ed itors J ud y Arginteanu [email protected] | J ol ene J ohnson | If you haven’t cast an objective eye at your product packaging Christopher Lemke recently, you could miss seeing that it’s time for a design refresh. Ed itorial Intern J enna G rund tner Packaging redesign can be driven by external factors—such as Creativ e Director Michael Norseng Senior Art Director Kel sey Head consumer shopping behaviors or new competition—or more Associate Art Director Laurie Haw ton internally motivated. Blaine, MN-based Arrowhead Engineered Contrib uting Art Directors Amy Bal l inger | Ted Rossiter Products, North America’s largest aftermarket parts supplier Account Director Traci Auger [email protected], 612-336-9214 of nondiscretionary parts, is working with Veritiv to elevate the Senior Account Manager Rian Heasl ip [email protected], 612-336-9215 design of its packaging. Marketing & Ev ents Manager Sami J ohnson [email protected], 612-336-9288

With consumers having multiple paths to purchase, Arrowhead Contrib uting Writers Suzy Frisch | Linda Holstein | Aaron Keller | Sarah Lutman | Engineered Products’ strategy is to meet the consumer where they Stephanie Pierce | Rajiv Tandon are in the purchasing journey—starting with packaging design. Contrib uting Photographers Caitlin Abrams | Eliesa Johnson HERE ARE FIVE SIGNS IT’S TIME TO RE-THINK YOUR PACKAGING: CEO & G eneral Counsel Vance K. Opperman | CF O Charles F. Thell RELEVANCE – Vertiv’s packaging specialists believe brands need to COO Nathaniel Opperman | Presid ent Gary Johnson LiÀivÀiÃi`]`wi`>`ÀiÛ>«i`Ài}Õ>ÀÞ]>Ìi>ÃÌiÛiÀÞwÛi SVP, Operations Mary Authier | SVP, Ow ned Med ia Jayne Haugen Olson SVP, MSPC Deborah Hopp | VP F inance & Ad ministration John Bienias years. VP/Content, Ow ned Med ia Allison Kaplan | VP/Content, MSPC Erin Madsen VP/Cl ient Strategy, MSPC Kevin Dunn | VP/Digital , MSPC Kate Rogers COMPETITION – Competitors are constantly innovating. How does your packaging stack up to theirs?

RETAILER DEMANDS – Retailers, in a battle with e-commerce, are Cred it Manager Dave Gschlecht Netw ork Ad ministrator demanding changes from wholesalers and packaging that entices Senior Accountant Anne McPhillips Steve Swanson in-person shopping. Prod uction Manager Tim Dallum Assistant Netw ork Ad ministrator Prod uction Superv isor Paul Marihart Shaun Katz SEASONALITY – A packaging partner, like Veritiv, helps maximize Digital Prepress G roup Aud ience Dev el opment Director seasonal-marketing success with creative solutions that work for > Steve Mathewson Bea Jaeger > Bill Sympson F ul ﬁ l l ment Coord inator every holiday. Senior Web Dev el oper Valerie Asante Ricky Hannigan Creativ e Serv ices SLOWING SALES – If sales are in decline, a package redesign E- New sl etter Dev el oper > Katie Shaw can be a game-changer. As you consider a revamp, focus on Lauri Loveridge > Joy Wagner packaging’s total cost (inventory, assembly costs, etc.).

[email protected] | 612-712-7345 XGTKVKXEQTREQOHWNNNOGPV Twin Cities Business is a publication of MSP Communications 901 N. 3rd St., Suite 195, Minneapolis, MN 55401 612-339-7571, fax 612-336-9220

4 TWIN CITIES BUSINESS | APRIL/MAY 2021

4Masthead.indd 1 3/29/21 12:56 PM Advice driven by advocacy.®

5Ad.indd 1 3/25/21 8:39 AM EDITOR’S NOTE

Summer Goals

A ‘flexible’ workplace t hit me in March, as I another, you might need to skip that about the how and when. We need to needs to be about more swapped notes with senior 4 p.m. Zoom to coax the kids off the feel comfortable fashioning profes- than where we plug in editor Liz Fedor about her couch with a quick game of basketball. sional lives around the personal, and our laptops. cover story on the working As I now attempt to enroll my not the other way around. We need to I mom juggle: I hadn’t planned soon-to-be 13-year-old in a couple know that we won’t be penalized for By Allison Kaplan my kids’ summer. of summer programs, only to be met talking about it. Because when you’re I hear the gasps of fellow working with the dreaded “FULL” notifica- less stressed and guilt-ridden, it’s mothers. tion, I see we’re headed back to easier to do better work, too. Ask almost any mom with summer spreadsheet mode. Sixteen In prepping for our annual TCB school-age kids and she’ll tell you: years into this parenthood thing, I’m Talks: Women in Leadership (virtual) Summer is actually more stressful kicking myself for making the rookie event on April 20, I’ve been speaking than the school year. (All due respect, with our panel of experts—four ex- dads—every study indicates, and my ecutives who know well the struggles own experience supports, that women and trade-offs inherent to a big career. in dual-income households still do Kristen Kimmell, RBC Wealth Man- most of the planning, and the lion’s agement head of advisor recruiting share of worrying). Summer means and field marketing, told me about the weeks and weeks of unstructured, un- time a manager warned her that her supervised time to fill. Transportation career would be “limited” if she left at to figure out. Rainy days to account 4 p.m. to pick up kids from preschool. for, because your meetings don’t get At the time, she says, she panicked. cancelled even when tennis lessons do. Now that her kids are in their 20s and For some, concern about where their her leadership role is well established, kids will get lunch; for others, guilt she sees how quickly life stages pass. over too much screen time. Family outing to Nerstrand Big “We try to find the ‘forever’ solution. For those of us professionals who Woods State Park Women often think, ‘I’ve got to step don’t employ full-time nannies, the back or step out.’ But everything is planning begins almost as soon as mistake of not planning early. But the temporary. Is there another option?” the holidays end. Calendar reminders experience of a quarantine summer, Smart leaders are thinking seri- must be set to register for camps that coupled with a hybrid school year for ously about what Kimmell calls the fill fast. Spreadsheets are required to the kids and my husband and I still “third option.” Job sharing, flexible track different programs for each kid working from home, lulled me into workdays, child care support, the because few run the entire complacency. Or, hopefully, a new option to take a leave—it’s all on the summer, or even an entire reality, as my company, like many, has table, says Thrivent president and CEO “We try to find the ‘forever’ workday (a 9–11:30 a.m. announced that the future is hybrid. I Teresa Rasmussen, who is also on our solution. Women often art class?!). envision a summer in which it won’t Women in Leadership panel, along think, ‘I’ve got to step Last year at this time, be difficult to shuttle my younger son with 3M global chief marketing officer I was in the process of to a playdate or even one of those two- Remi Kent and Hormel vice president back or step out.’ undoing all of that advance hour art classes because I’m working of digital experience Leslie Lee. But everything is temporary. summer planning: request- from home or planning office hours Rasmussen says the key to success Is there another option?” ing a refund for baseball around his schedule—rather than the is not to be scared of failure. “Just training, opting out of old model of trying to keep him occu- about everything is fixable,” she says. —KRISTEN KIMMELL, adventure camp. Without pied for the duration of a traditional “We’ve got to be willing to try new RBC WEALTH MANAGEMENT any of the usual structure, work day. I can accomplish a lot of things, create a new environment in many of us modern (read: focused work early in the morning the workforce.” overscheduled) families experienced while the kids sleep in, and rather than I hope this issue, and our upcom- a true, old-fashioned summer for the feeling chained to my desk all day, I’m ing TCB Talks event will provide some first time. Kids riding bikes, drawing hoping to occasionally go for an after- ideas to ponder with your colleagues, in chalk on the sidewalk, swimming in noon paddle in the kayak that became whether that’s back in a conference lakes. It worked (sort of) because par- our pandemic salvation last year. room or around a picnic table at ents were at home. Bosses understood Flexibility needs to be more than a park—within sight of your kids that without one form of childcare or where we work. We need to talk more swinging from the jungle gym.

6 TWIN CITIES BUSINESS | APRIL/MAY 2021

6EditorsNote.indd 1 3/29/21 1:00 PM BWBMN.COM DARINGTHE RIGHT SIZE FOR VISIONARIES

MADE IN MINNESOTA. FOR MINNESOTA.

7Ad.indd 1 3/25/21 8:39 AM GUEST COMMENTARY A Love Letter to Black Professionals Why it took leaving a high-ranking corporate job for this executive entrepreneur and independent to realize her true value. consultant helped me redis- cover my interests, passions, and By Stephanie Pierce strengths.

Here is what I know. Our stories recently participated in a panel are important. The experiences of I discussion about diversity, eq- women and people of color in cor- uity, and inclusion in corporate porate America must be shared. My America. As I sat in my makeshift office daughters need to hear these stories. on Z oom, I was prepared to share my Your sons need to hear these stories. perspectives as a Black woman with Company leaders need to hear these an engineering degree, who worked stories. in manufacturing and HR at a large The biases and microaggressions consumer product goods company for women and people of color face at 24 years. I felt pretty confident. P ublic work affect how we do our jobs every speaking and panel discussions were not single day. Sometimes, we get so used new to me; in fact, I enjoyed them. to it, we undervalue the strength and The first question came, and I resilience it takes to thrive in our real- felt great about my response: Clear, ity. Our stories can lead to action that fresh, with a touch of humor. I creates company and community cul- watched all the nods and smiles on tures where everyone feels respected, Z oom as the discussion continued. valued, and heard. Clearly, the conversation resonated To all the women of color in with attendees. As the moderator was The biases and microaggressions corporate gigs: You have my never- about to wrap up, a final question ap- ending respect and love. You make peared in the chat, and it was for me. women and people of color face it happen every day, despite the “You have been so successful at work affect how we do our jobs daily stream of insults masked as in corporate America. As a Black questions or questions riddled with woman, how did you overcome all the every single day. insults. You have so many super- things you surely experienced?” powers, many of which will not be I was silent. I had nothing. For recognized by the organizations you the first time in a long time, I was I finally did figure it out. I had spent environment with powerhouse work so hard to support. literally speechless. I started sweating, so much of my work life helping leaders like K im Nelson, Marc But know this— I notice. Your and it was not a hot flash. The ques- others achieve their goals and share Belton, and Rick P almore. They resilience and your strength are both tion wasn’t off-base. The whole point their stories, I had forgotten how to taught me the importance of immeasurable and remarkable. It can of the discussion was for us— for confidently share and celebrate my advocacy, authentic leadership be hard to lean into your superpow- me! — to share our experiences. Why own journey. In essence, I had lost my and a strong bias for action and ers, but you must. Continue to lead was I struggling to respond? voice and the importance of my own achieving results. with the grace and strength that I cannot even remember what I career goals. comes from years of hard-won said. I probably said something about How did this happen? Here are • I’ve always taken my human accomplishments. In other words, resilience and having great mentors— two big factors: resource role as employee do you. which is all absolutely true, but the advocate and trusted advisor The next time I’m asked about question ( and my inability to formu- • I “grew up” in a corporate envi- very seriously. It is work that I succeeding in business, my response late a response) stayed with me. ronment where diverse leaders love so much, I choose to do it will be simple: I believed in myself. I I was— and am— successful. I existed at every level, including now that I’m out on my own. In learned from the best. I listened more had accomplished things that many the company’s senior leader- my corporate life, I never gave than I spoke. I rejected stereotypes. I doubted I could do. I was one of a ship team. I worked for and was myself permission to celebrate embraced my passions and created a handful of Black women in engineer- mentored by Black leaders. I my own accomplishments and work life where I love what I do and I ing, in manufacturing, and later in knew my company was unique. acknowledge I had survived do what I love. senior leadership at General Mills. I heard from Black colleagues and thrived in an environment I had stories to share and lessons elsewhere how frustrated they that wasn’t made for me. It took Stephanie Pierce is a connector, coach, learned, which I had gone over before were at not seeing anyone who closing the chapter on my amaz- and founder of two Minneapolis- the panel discussion. What was going looked like them in leadership. ing corporate career to allow based businesses, KJP Consulting, on with me? The truth was that I had taken me to see and appreciate all that a leadership development firm, It took some soul-searching, but for granted how powerful it I have accomplished and my and stephpierce.com, a community was for me and many others worth professionally. It’s almost of diverse women inspiring each other to do the work they love. to work in such an inclusive like my new work life as an HOUR MERRY

8 TWIN CITIES BUSINESS | APRIL/MAY 2021

8GuestCommentary.indd 1 3/25/21 4:12 PM 9Ad.indd 1 3/25/21 8:50 AM starters

Edited by Adam Platt

LODGING All Vacancy The Minneapolis and St. Paul hotel market has been uniquely hard-hit. Can all the properties survive?

t’s no surprise that the local 42, a 50 percent jump. Available I hotel scene has suffered in the rooms jumped as well, but not as pandemic. Every hotel ecosys- substantially. All this data is leading tem in the country has. But the Twin to questions about why the local Cities had the distinction of the market has been so badly hit and worst occupancy- and revenue-per- whether a shakeout is in the ofﬁng. room plunge of any major metro The region was not alone. All area in the country, showing up last the most troubled hotel markets in of 25 markets each month of it, the pandemic were large northern according to industry analyst STR. cities. The scant domestic travel Four hotels are currently was leisure-oriented and non-urban. closed: the Crowne Plaza Northstar What little corporate travel that and Sheraton Midtown have both took place used hotels in Blooming- been delisted from their chain’s ton and near the airport, based on reservation sites; while the Le occupancy data. Place the blame Meridien Chambers has been sold on shuttered downtown cores “with and will reopen as an independent no amenities and services,” explains boutique property in 2021; the Delta Ben Graves, CEO of Graves Hospi- Minneapolis Northeast is accepting tality, which operates four hotels in bookings for May. the metro area. This is on the heels of an He notes the Portland, Oregon, unprecedented expansion in the market, where Graves just opened years before the pandemic. From a hotel, has a downtown that is not 2014 to 2019 the city of Minne- shut down, with a critical mass of local downtowns, highly depen- Above: The Rand Tower Hotel apolis’ hotel count rose from 28 to residents and operating businesses. dent on Fortune 500 companies opened in late 2020. Left: United He says Portland is at 35 percent whose workforces are completely Properties’ RBC/Four Seasons hotel project under construction occupancy, while downtown Min- remote, and insufﬁcient residential on Nicollet Mall at Washington neapolis and St. Paul struggle to populations to maintain vibrancy. Avenue. reach 5 or 10 percent some days. He Conversely, Graves’ Intercontinental blames the utter desertion of the Hotel at MSP Airport averages 50 to return for some time. He believes percent occupancy many nights, he hotel closures will occur, but be notes. driven by properties with the most The Twin Cities Looking forward, opinions dif- debt, rather than age or amenities. had the distinction fer on whether the downturn is tem- He wouldn’t mind seeing some local porary. Graves maintains the market hotels turn into condos or apart- of the worst absorbed the previous increase in ments, “because more residential in capacity “quite nicely,” and Meet our downtowns will help all busi- occupancy-and Minneapolis data indicates aver- nesses.” revenue-per-room age rates rose during the capacity Graves is more bullish on the run-up. But Richard Dobransky, downtown markets, but doubts they plunge of any major president of Morrisey Hospitality will see many new hotels beyond metro area in the (operator of the Saint Paul Hotel), the Four Seasons, scheduled to says the urban market is overbuilt, open in Minneapolis in 2022.

country. and 2019 occupancies are not likely —Adam Platt (SHRIMP) SHUTTERSTOCK RBC GATEWAY); CAITLIN ABRAMS (RAND HOTEL; BY PHOTOS

10 TWIN CITIES BUSINESS | APRIL/MAY 2021

10-17Starters.indd 1 3/29/21 12:51 PM FOOD Is Shrimp Delayed, Shrimp Denied?

A Minnesota/South Dakota shrimp farm has big plans and a few orders, but no funds to build.

n January 2019, South Dakota Ziebell rejects the notion that I Gov. Dennis Daugaard made shrimp farming on the prairie may big news in Minnesota: Bala- be a mirage. “We want to break ton, Minnesota-based Tru Shrimp ground in 2021. We’re working to Co. relocated its planned site to do that.” build an indoor shrimp farm from The company employs 30 peo- Luverne, Minnesota, to Madison, ple in Balaton. Ziebell says that the South Dakota. At the time, CEO Mi- new facility in South Dakota should chael Ziebell said that the compa- create 60 to 70 jobs. Mayor Marshall ny’s decision was driven by timing: Dennert declined comment. They could start building sooner in Tru refers to the indoor shrimp South Dakota. There was also the operation as a “harbor.” It has a pilot incentive of $6.5 million in low-inter- facility in Balaton; Madison would est loans from South Dakota. be its fi rst commercial harbor. The concept called for con- Beyond Madison, the company has struction that summer. But more big plans. “We’re not out to build than two years later, nothing has one shrimp farm,” says Ziebell. “Our trend with an eye on food safety and Ziebell. “We have a letter of intent been built, and it remains unclear intention is to build multiple shrimp sustainability. “There is a signifi - that they will buy our production for when construction might start. The farms here in the Upper Midwest.” cant effort across the world to take the next 10 years, regardless of how $500 million facility has been scaled Ziebell says observers should be aquaculture indoors.” In December, many harbors we build … They’ll back signifi cantly. Tru Shrimp is reassured that an affi liate of fi nancial the company inked a letter of intent buy everything. That’s why we’re now working to raise $70 million in giant Bank of America is the compa- with Michigan-based Gordon Food confi dent that we can start building equity and debt. As of early March, ny’s investment bank. He notes that Service, a $15 billion food distributor. this year.” it had raised $5 million. his business model is part of a global “The shrimp are sold,” says —Burl Gilyard

THE FINE PRINT Rev enue d eﬁ cits from 4 Q 2019 to 4 Q 2020 Smal l Business Hit Hard est By Pand emic Recession

The smallest businesses are still waiting to see signs of an economic More than 250 51–250 11–50 1–10 Sole recovery. A January survey from employees employees employees employees proprietorship the Federal Reserve’s Ninth District, which includes Minnesota, found that smaller companies saw the sharpest drops in sales. Half of all sole proprietorships, for example, reported revenue losses of 25 19 % 3 0.2% 4 3 .2% 4 1.7 % 5 0.1% percent or more from the fourth REVENUE REVENUE REVENUE REVENUE REVENUE quarter of 2019 to the fourth quarter DECLINE DECLINE DECLINE DECLINE DECLINE

of 2020. —Burl Gilyard Bank Minneapolis of Reserve Federal Source:

APRIL/MAY 2021 | TWIN CITIES BUSINESS 11

10-17Starters.indd 2 3/29/21 12:53 PM starters

INFOGRAPHIC Unemployment and New Business Starts

Bad economies may not be good times for entrepreneurship, but necessity is the mother of invention.

t might seem surprising that a year with common to every maj or recession, says N eal “ W hen you have a j ob and you’ ve got ben- I a global pandemic would become the Y oung, economic analysis director at the Minne- efi ts and that sort of thing, it’ s really hard to walk one with most new business fi lings ( data sota D epartment of E mployment and E conomic away and tak e the risk of starting a business,” includes all categories of business fi lings, from D evelopment ( D E E D ) . A s unemployment rates rise Y oung says. “ B ut when you’ re laid off, whether it’ s reservations of business name to formed cor- during recessions, so too does the number of new temporary or permanent, the opportunity cost of porations) in Minnesota history, but it’ s a trend business fi lings. starting a business is vastly reduced.” —Tess Allen

Unemployment Rates and New Business Filings in Minnesota, 2003–2020

Minnesota’ s 2 0 0 9 2 0 2 0 T otal number of unemployment rate: Minnesota business ﬁ lings: 7 .9 % , an increase of 8 0 ,0 7 2 , an increase of 9 % 2 .5 % over 2 0 0 8 7 ,3 5 6 over 2 0 1 9 1 0 0 ,0 0 0

8 % Minnesota’ s 2 0 2 0 9 0 ,0 0 0 2 0 0 9 T otal number of unemployment rate: Minnesota business ﬁ lings: 6 .2 % , an increase of 7 % 6 3 ,3 3 8 , an increase of 8 0 ,0 0 0 3 % over 2 0 1 9 . 8 ,2 0 1 over 2 0 0 8 6 % 7 0 ,0 0 0

5 % 6 0 ,0 0 0 UNEMPLOYMENT UNEMPLOYMENT 4 % 5 0 ,0 0 0 FILINGS BUSINESS

3 % 4 0 ,0 0 0

2 % 3 0 ,0 0 0 and Statista State of Minnesota Secretary Sources:

7 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2009 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 2 0 1 8 2 0 1 9 2020

Great Recession Pandemic Recession

ON OUR SHELF T he world may j ust be discovering self- anointed “ L aundry E vangelist” Patric R ichardson, thank s to his new book and D iscovery+ T V show “ T he L aundry G uy,” but to T win C ities Laundry Love: shoppers, R ichardson is the owner of Mall of A merica Finding Joy in a boutiq ue Mona W illiams— and the guy you call for advice when you can’ t get red wine out of a silk shirt. “ I t’ s so much Common Chore by more fun to wear your clothes if you can be fearless, k nowing that they are easy to tak e care of,” R ichardson says. “ I hope Patric Richardson someone reads this book and wears their favorite party dress with Karin B. Miller to the grocery store! ” —Allison Kaplan

12 TWIN CITIES BUSINESS | APRIL/MAY 2021

10-17Starters.indd 3 3/29/21 12:52 PM Applauding trailblazing women in executive roles

U.S. Bank celebrates the transformative impact women leaders have in the workplace. We’re proud to be an Honor Roll recipient in St. Catherine University’s 2020 Minnesota Census of Women in Corporate Leadership. This annual census acknowledges companies that promote the hiring and advancement of women in corporate GLUHFWRUDQGH[HFXWLYHRIĠFHUSRVLWLRQV

U.S. Bank salutes all honored businesses that support a culture of diversity and inclusion and empower women to reshape the business landscape.

13Ad.indd 1 3/25/21 8:51 AM starters tion, selection must be based on se- niority. “The hospitality industry has been one of the hardest hit by the pandemic, and people who work at hotels and event centers deserve LABOR the peace of mind to know that they will be part of that reopening,” Fletcher says. If employers hire someone else, Right to they have to provide a written ex- planation to the rejected employee. Mark Girouard, shareholder and Recall chair of the labor and employment practice group at Nilan Johnson Government wants to tell Lewis, says businesses are not the hospitality industry Council approved Councilmember square feet or 2,000 fi xed seats. It particularly thrilled. “The concern how to repopulate its Steve Fletcher’s Hospitality Worker covers employees with six months I’m hearing from our clients is it is businesses. Right to Recall Ordinance to give tenure who were laid off due to the going to be burdensome to admin- former employees priority as jobs pandemic, and refl ects an initiative ister, in a time when they really need return. (A similar bill awaits action of Unite Here local 17. fl exibility,” Girouard says. “It’s going innesota, bars, restau- at the legislature, which covers the Cities such as Los Angeles, to make it harder for them to move M rants, hotels, and other entire state and includes jobs at MSP Philadelphia, and Washington, D.C., quickly.” hospitality businesses Airport, though that bill’s fate is less have passed similar ordinances. He recommends businesses have seen an estimated 116,000 jobs promising.) The city ordinance ap- It requires employers to contact start preparing now by assembling lost in the pandemic, says Hospital- plies to hotels or event venues with laid-off employees with all available recall lists and prepping notice ity Minnesota. 50 or more guest rooms and event jobs they qualify for. If more than templates.

In March, the Minneapolis City centers with at least 50,000 rentable one employee is entitled to a posi- —Jenna Grundtner (DESK, CONTAINER) RETAILERS (BELL, BIKE); COURTESY SHUTTERSTOCK BY PHOTOS

SOLVING YOUR PROBLEMS, NOT CREATING THEM.

14 TWIN CITIES BUSINESS | APRIL/MAY 2021

10-17Starters.indd 4 3/29/21 12:53 PM WFH | Standing desk “I use a $40 Ikea table that attaches to the wall and folds ﬂ at. Cheap and easy!” Bjursta wall-mounted drop-leaf table, $39, Ikea —Jessica Mogilka, executive vice president, JLL

VERIFIED Innovation | r.Ware by Effect Partners Make it Work “I’ve been lucky enough this past year to be introduced to a Three pandemic product company called Effect Partners. adaptations—personal and They designed a reusable professional cup called r.Ware for stadium venues that provides a zero- waste solution for beverages at Workout | DIY Peloton concerts. When the pandemic “There’s no need to spend thousands hit—no concerts—they pivoted of dollars to get an amazing workout at this technology and business home. I got a Sportneer Trainer Stand into a reusable takeout container ($129.99, Amazon) for my existing called r.Ware. It’s to-go packaging mountain bike, a Wahoo cadence sensor for restaurants, but outﬁ tted with a QR code that consumers ($39.99, wahooﬁ tness.com), a CooSpo use to make those units traceable so they can be retrieved, armband heart rate monitor ($45.99, washed, and reused. I see it as the future in reducing waste and Amazon), and the Peloton digital app providing even more sustainable options for the environment.” ($12.99/month). We saved more than $1,000—and my r.ware.com sanity—during Covid!” —Matty O’Reilly, director of operations, —Leora Maccabee, partner, Maslon LLP the Market at Malcom Yards

Building a more diverse workforce

“It has been proven that more diverse teams ﬁnd more creative solutions. All engineers should be judged by their passion for problem-solving, their work ethic, and their ability to work in a team and not by their gender, color of their skin, or sexual orientation.”

APRIL/MAY 2021 | TWIN CITIES BUSINESS 15

10-17Starters.indd 5 3/29/21 12:53 PM starters

OFFICE This Good Offi ce Day Comes from the Garden

F r om th e fou n d er of r u s s el l + h a z el , a n ew col l ecti on of s u s ta i n a b l e ofﬁ ce p r od u cts .

ack in 2 0 0 3 , architect- and bright fl oral prints. N early ness solely on screens, she’ s more home,” Plantan says. “ S ome of my B turned- product designer two decades after the launch of convinced than ever that the analog best ideating happens away from C hris Plantan disrupted break out brand russell + haz el, items on our desk infl uence our at- the computer. D oodling means I ’ m the offi ce supply mark et by dress- Plantan remains smitten with paper titudes about work . think ing.” ing up fi le folders and three- ring goods. A nd after a year of work ing “ W e’ re look ing for new tools to Plantan sold russell + haz el to

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16 TWIN CITIES BUSINESS | APRIL/MAY 2021

10-17Starters.indd 6 3/29/21 12:53 PM “If a bit of line are backyard compostable; greenery is every material used, from packaging to ink, is recycled, renewable, or clinically biodegradable. The eco-friendly materials informed Good Office Day’s proven to earthy palette of brown, light blue, reduce stress, and stone. No patterns; no flashy office products industry made sus- details. why not have tainability a priority?” Plantan says. “If russell + hazel was your For russell + hazel, Plantan took really preppy friend,” Plantan says, a table or inspiration from fashion runways. In “Good Office Day is the person you concepting Good Office Day with go to to calm down.” deskful?” fellow architect Kevin Robledo, That is, when the work keeps —CHRIS PLANTAN founder of product development you from the garden. company Line Modern, she dug into —Allison Kaplan her garden. “If a bit of greenery is 2009 and since then has provided she’s back with a new line of office clinically proven to reduce stress, Good Office Day is sold at most product development advice to na- supplies all her own, called Good why not have a table or deskful?” Target stores, target.com, and direct tional brands like Crate & Barrel. She Office Day. The hook? The products There in the dirt she discovered all at goodofficeday.com. Prices range recently helped 3M update its iconic are made with 100 percent recycla- the materials she needed for a more from $4.99 to $14.99. Look for a Post-its with a colorful new collec- ble and compostable materials. mindful desk collection: bamboo, Good Office Day pop-up opening tion called Noted by Post-it. Now “I just thought, why hasn’t the sugar cane, soy. Most items in the April 15 in downtown Wayzata.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 17

10-17Starters.indd 7 3/29/21 12:54 PM 18Starters-OfficeEnvy.indd 1 18 environment. typical “stuffy” bank work—not thestereo- where people want to warm feel, aplace was awelcoming and Bank’s biggest requests One ofBridgewater starters

TWINCITIESBUSINESS | OFFICE ENVY that was created,” B ridgewater B ank ex ecutive vice president and C O O Mary J ayne C rock er says. “ I do think that while people can be fully thatbefully whilepeoplecan dothink I ersays. “ rock ayne C MaryJ O —JennaGrundtner People were ecstatic abouttheen O inghere again.” prilonthestreet level. “ ecutive cited vice to president getinto and C thespace andstart work isscheduled to openinA now peopleare ex ex rink k ank productive at home, I D ridgewater B percent ofthe ood& B that was created,” 0 elwood F scurrent staff willoccupy az around 6 ull- ridgewater’ story buildingiscurrently leasedto otherbusinesses, withafocus onlocalentrepreneurialservice restaurant ventures. F H esignedfor growth, B oorofthefour- .D hetop fl itchen area) ridgewa space. T sbeerontapinthek ugust, B the there’ ing( oorplanto encourage interdepartmental collaboration andaft ompleted inA socializ enter was designedwithhighceilings andanopenfl isconfid ssafe to gather. C uarters whenit’ orporate C ank headq ter C ridgewater B ouisPark tech conference rooms, B t.L uippedwithlawn gamesandabarbecuedown to thehigh- that employees willbeeagerto return to itsnew S eq rom therooftop deck F Company

Bridge water Bank April/May 2021

Headquarters 4450 Excelsior Blvd., St. Louis Park see from outside. in partofastairwell, whichpedestrians can in Minneapolis,painted amultilevel mural artists behind theGeorge Floyd memorial the ﬂoorstogether. Greta McLain,oneofthe staircase andspiraling chandelierthat links Design highlights:theribcage-like steel |

Size 84, 000 square feet |

Designer Momentum DesignGr vironment er- hours hours er- oup ent ent - 3/29/21 1:13 PM

PH O T O S C O U R T E S Y O F S T E V E S I L V E R MA N WALKER ART CENTER

THANK YOU CORPORATE PARTNERS!

The Walker Art Center gratefully acknowledges the following corporate contributors whose extraordinary support enables visitors from down the street and Photo: Carina Lofgren around the world to connect with the most innovative art and artists of our time.

PREMIER PARTNERS CORPORATE SPONSORS MATCHING GIFTS

$100,000 AND ABOVE AllianceBernstein JP Morgan Chase & Co. Allina Health Target AT&T Best Buy $50,000–$99,999 Chase TECHNOLOGY PARTNER Medtronic Foundation Communities The Estée Lauder Companies, Inc. Fund Expedia, Inc. PNC Bank IQVIA United Health Foundation Prudential Financial, Inc. RBC Wealth Management $25,000–$49,999 Target Dorsey & Whitney LLP Thrivent Financial LEAD PARTNER Hero Office Systems TisBest Philanthropy RBC Wealth Management U.S. Bank TimberTech by AZEK Building UnitedHealth Group Products IN-KIND GIFTS $10,000–$24,999 3M Atomic Data CORPORATE MEMBERS Abbot Downing Bacardi Augeo Blu Dot FOUNDERS ($50,000–$99,999) FRIENDS ($2,000–$4,999) Bank of America Private Bank City Pages Ameriprise Financial Emerson Best Buy Google, Inc. General Mills Foundation HGA Blu Dot LOLL Furniture Sit Investment Associates Foundation BMO Wealth Management Minneapolis Park & Recreation BENEFACTORS ($25,000–$49,999) Zelle, LLP Citi Private Bank Board 3M Foundation The Creative Partners Group Minnesota Public Radio The Cargill Foundation ASSOCIATES ($1,000–$1,999) Elysian Construction Mpls.St.Paul Magazine/MSP Thrivent Financial Archetype Signmakers, Inc. Faegre Drinker Communications U.S. Bank Foundation Arthur J. Gallagher & Co. KNOCK, Inc. Nina Hale, Inc. Federated Insurance Companies M&E Catalyst Group Room & Board PATRONS ($10,000–$24,999) TEGRA Group MartinPatrick3 Shapco Printing, Inc. Best Buy Foundation Twin City Filter Mortenson Sotheby’s The Estée Lauder Companies, Inc. UHL Company, Inc. Phillips Wedge Community Co-op Faegre Drinker Foundation Prudden & Co. Taft Pohlad Companies Tennant Foundation Spacecrafting Wells Fargo Foundation Thrivent Financial U.S. Bank Private Wealth ADVOCATES ($5,000–$9,999) Management The Boss Foundation Lévy Gorvy $1,000–$9,999 Mayo Clinic 10 Thousand Design Mortenson HGA Rahr Corporation Lucy Interior Design Marion Parke Robins Kaplan LLP Mutual of America Peterssen/Keller Architecture Thomson Reuters The Woodhouse Day Spa

19Ad.indd 1 3/25/21 8:50 AM amped up

By Tess Allen The Excelsior-based online platform offers students mental health Wellness skill-building lessons paired with one- on-one support from licensed thera- pists. As of mid-March, EmpowerU Within had more than 55 middle school, high school, and college system partners in Minnesota and Wisconsin, including Your Own Hopkins and Eagan public schools. “A lot of people ask, ‘How can five minutes of texting and email support toner, lip balm, and a facial roller— value of their product.” Usually, man- Walls be transformative?’ ” Dorn says. “But it with a twist. Rather than focusing on ufacturers produce large quantities Three local startups bring breaks down what would typically be skincare results, Lilac 11 advocates for of a product and wholesale them at a health to your home. several 55-minute therapy sessions into practicing a moment of calm. low but profitable price to distribu- five minutes a day. It’s more digestible. “I wanted to create an emotional tors, who then deliver the product to We’re meeting students where they’re connection through products,” Arias the end users. Often, there are several he Covid-19 pandemic got at in the language they want to speak.” says. She labored over every detail of middlemen along the way before it T entrepreneurs thinking about Minnesota Virtual Schools, which the brand, like the bright, modern reaches the retailers, who then mark ways to help people improve offers full- and part-time enrollment packaging. “This is not meant to be up the price for their own profitability. their physical and mental health with- for public school students in every spa-like,” Arias says. “We want to The maker gets only a fraction of what out having to leave the house. Meet Minnesota county, became one of convey the idea of taking 30 seconds to their products are actually worth. three such Minnesota startups working EmpowerU’s first pilot schools in 2018 breathe and be present.” With Neiibor Crate, Yang says, to bring health home: after trying to better serve the mental The earliest iteration of Lilac 11 food makers earn the true value of health needs of their virtual student was a travel kit for airplane travelers to their products by eliminating many of EmpowerU population. Director Bill Glenz said provide a moment of calm before land- the middlemen. While Neiibor Crate Between March and October 2020, the they found the program to be the ing. But when the pandemic prompted earns a commission from the makers, Centers for Disease Control reported a perfect fit for their students’ needs, and a move away from air travel, Lilac 11 it also lowers makers’ production costs 31 percent increase over 2019 in emer- the school now partners with Empow- renewed its focus on the fundamental by providing product warehousing gency room visits of children ages 12 to erU to provide licensed teachers to intention: creating a healthy mind, and logistics at a lower cost. 17 for mental health concerns. teach the courses, allowing students to body, and spirit, wherever you are. Neiibor Crate was launched “Depression, anxiety, avoidance, receive academic credit. To Arias, that objective feels more in 2019, but the pandemic was the ADHD—these have all been exacerbat- In the coming year, Dorn and timely than ever. lilac11.com ed in the pandemic by remote learning, co-founder Abby Master plan to keep loss of milestones, isolation, and loneli- growing their user base and expand Neiibor Crate ness. Combine all that with the stress of their product geographically and to Eating local and healthy usually what’s going on in our country and ... include elementary school and parental requires an extra layer of effort— versions. empoweru.education shopping at food co-ops and buying direct from the brands. Neiibor Lilac 11 Crate is working to make both more What is the product equivalent of convenient. The Minneapolis-based deep, cleansing breaths? startup allows customers to buy pack- Neiibor Crate founder and CEO Kong Yang As a product development and aged foods and beverages from small, branding expert, Amy Arias ana- local brands in one spot online, with lyzes trends and identifies holes in the the products delivered to their doors real test of the company’s viability. market. She’s a partner in June Co., the as soon as the next day. Neiibor Crate “Research shows that the pandemic Minneapolis-based parent company stocks up-and-coming indie brands moved consumers to more online EmpowerU founders Abby of Mosquito, which designs corpo- such as Deane’s Kombucha, Blackeye shopping for groceries, and more food Master (left) and Katie Dorn rate branded merchandise, and West Roasting Co., Ommie Snacks, Red makers adopted e-commerce tools to Emory, which develops private-label Table Meat Co., and Hoyo Sambusa. sell their goods,” Yang says. it doesn’t take much to trigger students products for brands like Target, There’s no markup for the service; This year, Yang plans to focus on to the point where they feel like they Crate & Barrel, Paper Source, and Ulta. customers pay a small delivery fee. raising capital, fundraising locally to can’t cope,” says Katie Dorn, a school After years of making products “The current food supply chain build community support. counselor and therapist and CEO of for other brands, Arias and her team doesn’t make it easy for food makers. “When we allow food makers to EmpowerU, an online social-emotional decided to create a line of their own to They’re stuck in this wholesale/retail earn the true value of their products,” support platform founded in 2017 and sell direct to consumers: Lilac 11, a col- model,” founder and CEO Kong Yang Yang says, “we also see lower prices for

well-positioned to take off this year. lection of beauty items—essential oils, says. “They aren’t able to earn the true healthy, local foods.” neiiborcrate.com KRYSTI LAUREN 11 PHOTO: LILAC

20 TWIN CITIES BUSINESS | APRIL/MAY 2021

20AmpedUp.indd 1 3/25/21 4:22 PM SPONSORED CONTENT

Equity’s Place in Core Business A leader in corporate diversity and inclusion, RSM shares tips and resources for ensuring equity remains a foundational facet of your business.

or middle-market-focused business community by reviewing Company culture “All of RSM’s ENGs are open tax, auditing, and consulting insights and sharing ideas and starts at the top. to everyone, so for example, F firm RSM, diversity, equity, best practices to take back to their Leaders must be engaged, you don’t have to be a woman and inclusion (DE&I) is one of teams. educated, and supportive of DE&I to join the women’s ENG,” she the many vital facets of running in order for it to become a staple of says. “That’s really intentional Not only is strengthening DE&I the a successful business, equally overall company culture, Ruthford because first, these groups are moral thing for businesses to do, as important as finances or says. “At RSM, our leaders really about inclusion, and second, the says Mary Beth Ruthford, RSM’s marketing. do walk the walk and talk the talk, groups have really proven to be a DE&I leader for the north central and they’re engaged in this work really great way for people to get region and director of client inside and outside of the firm. educated and hear people talking Mary Beth experience at RSM Minneapolis, That’s extremely important.” about issues that really matter.” Ruthford, RSM’s but it’s also better for business. management “Research shows that diverse Go beyond conversation in ENGs consulting leader companies grow faster and are with an annual project plan for how for the north more competitive, profitable, and ‘‘ each group can help their talent, central region and director of client effective, and that having a diverse organization, and community experience at staff and an inclusive culture is At RSM, our leaders continue to make progress. increasingly vital to attracting and RSM Minneapolis really do walk the Move from conversation retaining employees.” to action. To ensure it stays that way, RSM’s While not every company has walk and talk “On an individual level, the first more than 900 professionals in been as focused on DE&I efforts step begins with checking your Minnesota and nearly 10,000 the talk … and are for as long as RSM, the past year’s own personal bias. Then you professionals across North events, like the untimely death of can build from there and help America are supported by a team engaged inside and George Floyd and the subsequent others check theirs, shining a of dedicated DE&I experts. RSM protests and riots, have reignited outside of the ﬁrm. light if and when you see bias in has eight professionals whose conversation and action for many. the workplace. The more you jobs are to work on DE&I efforts That’s extremely No company is perfect when it actively think about and work to full time on a company-wide comes to DE&I, says Ruthford, overcome bias, the easier it tends scale, plus 12 employee network important. but as companies across the to become to foster an inclusive groups (ENGs), several diversity nation and beyond work towards and equitable culture. How you and inclusion advisory teams, Have “courageous progress, they should be sharing tackle this at the organizational and many culture, diversity, and conversations.” and learning from each other in level is obviously going to depend inclusion (CDI) regional and local It’s important for businesses the process. on what’s important to your firm leaders. and organizations to facilitate and your people—and sometimes In that spirit, Ruthford shares what RSM calls “courageous But RSM’s efforts don’t stop to your customers,” Ruthford some tips and resources from conversations,” or conversations inside the company’s own offices. says. “But there are so many RSM that other companies can focused on DE&I that demonstrate In addition to guiding internal ways to get involved.” Continuing use to grow their equity and caring and curiosity, drive growth, RSM’s CDI regional and conversations outside of the inclusivity too: collaboration, and use critical local leaders also advise and workplace, donating time and thinking to deepen learning and assist RSM’s clients on running Understand where you’re at resources to charities with DE&I foster understanding. For more inclusive businesses too. In 2017, and where you want to go. missions your company supports, information, check out RSM’s RSM CEO Joe Adams took the You need to understand where launching partnerships with Courageous Conversation Guide pledge to become part of CEO you are personally, encourage and investing in other diverse at rsmus.com/courageous- Action for Diversity and Inclusion, your employees to do the same, organizations, and making sure conversations. the largest CEO-driven business and stay on top of the DE&I your own organization stays on commitment to advance diversity metrics of your business, Ruthford Provide open employee track are just a few of the ways for and inclusion in the workplace. says. Monitor your company’s network groups (ENGs). companies to turn conversation Most recently, RSM launched the racial and gender diversity and Encourage and facilitate into action. Middle Market Collaborative for hiring practices and compare ENGs, or voluntary groups of Understanding, a group that will those metrics with those of the employees that come together come together to actively enhance community and other companies based on shared identities or life diversity, equity, and inclusion in the industry to see how you experiences, Ruthford says. ENGs within their organizations and stack up and where you can are also a great place to have across the broader middle market improve. “courageous conversations.”

Other Resources for Harvard University’s Project Implicit RSM’s Resources for Racial American Institute of Certified Public Accountants DE&I Assessment implicit.harvard.edu Understanding and Inclusion (AICPA)’s Accounting Inclusion Maturity Model rsmus.com/racial-understanding aicpainclusion.com/default.aspx

21Ad.indd 1 3/29/21 9:20 AM PLANTING SEEDS

Early Departers Too many entrepreneurs give up too quickly because we have no ecosystem to support them.

By Rajiv Tandon

aunch Minnesota, an of doing so. What is missing L initiative by the Min- is mass-scale skill develop- nesota Department of ment and requisite competence Employment and Economic De- building. These programs velopment (DEED), is designed leave out people who want to to boost the state’s economy start a business and have even by strengthening the startup taken some steps, but stopped ecosystem. The goal is to increase because of lack of reasonable the number of statewide startups assistance at the idea stage— and amplify Minnesota as a the initial step of preincuba- national innovation leader. tion support, of screening and Entrepreneurship is already polishing raw ideas into quality exploding by itself. Numerous ones. aspirants have specifi c ideas Lack of this piece leads to in mind and a deep interest too many failures and missed in starting a business; most opportunities. Remedying have no experience. Minnesota this problem will dramatically already has 50 incubators, many increase the number of quality angel groups/individuals, hun- business concepts. dreds of meetups, numerous Recent Kauffman Founda- events, and several universities. tion reports, drawn from a na- These incubators work with en- tionally representative survey trepreneurs with viable concepts of U.S. adults, detail critical to help grow them into success- fi ndings on why “leavers,” Make ful businesses. though interested, decide not Most entrepreneurship to start a business or to wait. connections. support programs and policies Key fi ndings include: engage an individual once they have already started a business • They are about 6 percent Nourish or have gone far in the process of the adult population. ideas. Revolutionize tomorrow.

22 TWIN CITIES BUSINESS | APRIL/MAY 2021

22-23C-Seeds.indd 1 3/26/21 8:27 AM We are all We shake our heads but have no place to send them for prepara- familiar with tion—not at scale, anyway. a person Launch Minnesota should approaching provide a program of preincubation preparation on a To help drive lasting us with an large scale. Anyone with an idea change and greater equity underdeveloped should be able to participate; idea and asking for the initial screening would con- in our communities of clude by rejecting the proposed investor help . . . concept or suitably preparing it color, 3M plans to invest We shake our for the various incubators. An heads but have no abandoned idea still equips the $50 million to broaden aspirant to evolve the next good place to send them one. Proper assistance at the access to STEM education for preparation. early-idea stage is key to convert leavers into entrepreneurs. and skilled trades careers. Today’s pandemic circumstances bring about urgency. We • The most common action have experience from previous Join us on this journey. was discussing the economic downturns that the business idea with a friend, ensuing flow of ideas will be Learn more at news.3M.com colleague, or acquaintance. heavy, widespread, and from a broad set of business sectors. • The most commonly Though the upheaval has been © 3M 2021. All rights reserved. cited reason for leaving was difficult, we would be wise to concern about business follow advice commonly at- survival. tributed to Winston Churchill: “Never let a good crisis go to • More people became en- waste.” A primer on orchard trepreneurs in 2020 than in management advocates the previous years. Good news? importance of nurseries’ in Not so fast. Kauffman says propagating and growing trees the percentage doing so by to a usable size before planting. choice rather than econom- They provide a valuable service ic hardship was the lowest by sprouting quality seedlings in a quarter century. from the plethora of seeds, saving time, money, and effort, and Since the biggest impedi- improving the orchard’s overall ments to entrepreneurial eco- productivity. system development are at the Similarly, support for preincubation stage, a complete undeveloped ideas can yield economic development program more and higher-quality vetted must have an initial-screening concepts. Screening numerous support system to find and ideas methodically and refining nurture ideas and advance those those that show promise can lift that show merit for further Minnesota’s economic develop- intervention by the existing ment effort. A lack of a robust incubators. preincubation program will Many aspiring entrepre- shortchange the state’s economic neurs, inexperienced in the resurgence goals. complex process of building a successful business from scratch, Rajiv Tandon is executive director believe that having an idea of the Institute for Innovators and merits investment to grow it into Entrepreneurs and an advocate a successful business. We are all for the future of entrepreneurship familiar with a person approach- in Minnesota. He facilitates peer ing us with an underdeveloped groups of Minnesota CEOs. Reach idea and asking for investor help. him at [email protected]. And they expect this nurturing

SHUTTERSTOCK to be at little or no cost to them.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 23

22-23C-Seeds.indd 2 3/26/21 8:27 AM PERFORMING PHILANTHROPY

Leadership Reckoning T h e u p h ea v a l s of 2 0 2 0 r ev ea l ed a s er i ou s u n d er i n v es tmen t i n ma n a g emen t tr a i n i n g a n d HR comp eten cy wi th i n n on p r oﬁts .

By Sarah Lutman

his past year was strengthening leadership skills, T tumultuous for leaders, building leadership and suc- managers, and supervi- cession pipelines, supporting sors. They spent their time working new managers, and improving through challenges such as learning workplace culture. But it is to say to lead remote teams; understand- that these topics are discussed ing practices that limit, discourage, and addressed less often in the or anger BIP OC staff members in nonprofit sector than they could white-led organizations; dealing be. It’s time we fix that. with furloughs, layoffs, and hiring New leadership and human remotely; and coping with the resources training could be deliv- impact of the Covid-19 pandemic ered by existing service organiza- on their workforces, families, tions. Both P ropel Nonprofits neighborhoods, and communities. and the Minnesota Council of U nfortunately, the non- Nonprofits could expand their profit sector nationally saw offerings, perhaps in partner- many leaders falling short on ship with major law firms and multiple fronts, resulting in Twit- organizations like the Society for ter callouts, terminations that Human Resource Management. played out in public, and many Here are a few competency areas announcements about leaders where the nonprofit sector needs leaving to pursue other interests. to develop the skills of current In speaking with clients, and future leaders. colleagues, and nonprofit sector Basic supervisory skills. We consultants about the underlying need an ongoing training series causes of such turmoil and what that keeps supervisors updated might be done about it, one key on the basics of supervision, factor is evident and can readily provides information about cur- be addressed: The relative weak- rent regulatory changes, offers ness of human resources and resources and places to go for leadership training among non- learning and support, and shares profits, whether it’s for boards of the most common mistakes directors, volunteers, or staff. In managers can avoid— with smaller nonprofits particularly, examples and case studies. human resources often remains Onboarding for new limited to a “payroll and ben- managers. For staff who are efits” role that doesn’t include new to managing people, cohort leadership development func- programs and supportive train- tions that corporations provide ing could help them navigate this to their managers and leaders. new challenge and opportunity This is not to say that for growth. This could easily be corporations are as capable and created cross-organizationally engaged as they should be in so that new managers from different nonprofits share learning from and with each other.

24 TWIN CITIES BUSINESS | APRIL/MAY 2021

pg 24-25.indd 1 3/26/21 1:11 PM Considering Board Service?

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Eq uity ad v ocate Akaya Wind w ood speaks at a Minnesota Council of Nonprofits ev ent ab out l ead ership sustainab il ity. Navigate Forward’s advice was key in creating strong board Leadership of self. Follow- People development. Many materials and tailoring my ing the principle that leaders lead experienced leaders discover networking strategy. themselves first and foremost, the enormous satisfaction of —Kathy Roedel, Outstanding Director 2019 more could be offered around providing mentoring, stretch self-awareness and self-manage- assignments, and other growth ment. This training should also opportunities that help indi- emphasize the personal work of viduals and teams excel. L eaders Get Your Seat at the Table leading across gender, genera- themselves can be coached to do 612.486.5551 tional, socioeconomic, political, this work better. navigateforward.com/TCB and racial differences. Minnesota’s nonprofit Team building. HR depart- sector has access to networks, ments in large organizations service organizations, law firms, frequently include staff who can corporate leaders, and col- help leaders with team building leges that could work together to processes and competencies that strengthen our nonprofits’ skills. strengthen how they lead their We can make human resources BREAKING DOWN teams and foster employee en- a widely discussed, elevated area gagement. Team building train- of practice. What’s needed is a BARRIERS ing could provide a rich area of concerted effort to do so. learning for a cohort of leaders Nonprofits often rely on the WITH EVERY from different nonprofits. talented lawyers on their boards Performance management. to solve downstream prob- CHILD CARE PROGRAM, Many small nonprofits have lems that should be addressed WORKOUT weak performance management upstream, with more focus on ™ systems or don’t have any at all. human elements in the work. AND INC.LUDE Boards often are unsure about It takes people to build great locating responsibility for the organizations. While leadership CONSULTATION. executive director’s evaluation, skills and presence can seem pre- or lack a detailed process that dominantly innate, they actually identifies areas where an ex- are learned and honed through ecutive’s growth is most needed. skill-building, attention to the Boards for small nonprofits may practice, feedback, and reflective not take time to solicit broad experience doing the work. feedback for reviews. L et’s get started now on Succession planning. building stronger human re- Nonprofit founders eventually sources capability in our state’s transition from their roles, but nonprofit sector. these departures don’t need to be seismic ruptures. Instead Sarah Lutman is a St. Paul-based MAKING A DIFFERENCE. they can often be discussed so independent consultant and THAT’S THE DIFFERENCE.™ that cross-training, promotion writer for clients in the cultural, opportunities, and planning for media and philanthropic sectors. ywcampls.org succession are a routine part of a

PHOTO COURTESY OF MINNESOTA COUNCIL OF NONPROFITS (AKAYA WINDWOOD) (AKAYA OF NONPROFITS COUNCIL OF MINNESOTA COURTESY PHOTO nonproﬁt’s practices.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 25

pg 24-25.indd 2 3/26/21 1:11 PM COLUMN TM

Join us as we recognize and celebrate the work of TCB’s ﬁrst-ever Community Impact Award winners and hear from local leaders about the Nourishing Content work happening now to advance racial justice, How our viewing habits inform brand engagement. build communities, and create social enterprises. By Aaron Keller 2021 Community Impact Award Winners he Golden Globes are age to a group of people least 3M • Black Tech Talent • Bridging • Center for T changing their name affected by the pandemic and Economic Inclusion • Coalition of Asian American to the Bronze Globes. recession just doesn’t sit well in You heard it here ﬁ rst: The awards the current environment. Or is Leaders • Hippy Feet • Lake Street Council • M Health show is no longer worthy of the that just my cynical side sneak- Fairview, East Side Health and Well-Being precious-metal moniker and has ing up on me? Collaborative • Minnesota Central Kitchen • Minnesota been asked to drop it from their Attention is a scarce name. resource, and keeping it is Timberwolves and Lynx • Serve MN • Youthprise I jest— but not about the something Hollywood has show’s viewership decline, down been exceptionally good at for 6 4 percent from 2020, to fewer many decades. But there’s still a than 7 million viewers for the pandemic going on, and fatigue R.T. Rybak 2021 event that aired in late with content that isn’t deemed February. For context, in 2004, rewarding, like a virtual awards President and CEO the Golden Globes show drew show, seems reasonable; we’re Minneapolis Foundation 26 .8 million viewers. weary and less interested in Some attributed this “virtue signaling.” year’s sharp drop to the lack of diversity among award winners and judges. That makes sense— Tawanna Black except anger often prompts Content needs Founder and CEO more people to tune in and to elevate your Center for Economic vocalize their discontent. Others brand and attach Inclusion might say the awkwardness of an awards show staged at great greater meaning. distance was painful to watch, It needs to make but at least those critiquing it you proud to say did watch. Or perhaps it’s the Sarah Lutman pandemic’s fault, and all live you’ve enjoyed Performing Philanthropy events are getting hit by bad Columnist and Principal consuming it, not viewership. cringing with guilt 8 Bridges Workshop Yet the Super Bowl lost only 9 million viewers this year by association. ( 9 1 million, compared with 100 million in 2020) . So how do we May 6 | 12 PM | Virtual Event account for a two-thirds drop As we’ve increased our me- in viewership for the Bronze dia consumption exponentially Register Today! Globes? Even Oprah pulled in the past year, we can be more in an audience of 17 million particular about what we watch tcbmag.com/events/wil21 viewers for a conversation to nourish our minds. Con- about some British people most sider the types of content we Americans really shouldn’t care consume, and think of awards GOLD SPONSOR SILVER SPONSOR much about, right? P erhaps it’s shows as cotton candy— and we because the glitz and glamour can take a pass, because there’s of an awards show paying hom- another episode of Poldark to watch. If you need more evidence,

26 TWIN CITIES BUSINESS | APRIL/MAY 2021

26-27C-TM.indd 1 3/30/21 11:22 AM WELLSFARGOPRESENTS

Anya Taylor-Joy reacts via video after being announced the winner of the Best Actress—Television Motion Picture award for The Queen's Gambit at the 78th Annual Golden Globe Awards.

look to The Queen’s Gambit, building conversations? a highly successful limited That content doesn’t need series—about chess! It cap- to create shallow drama and MAY JUNE tured 62 million global viewers; leave us feeling empty. Content that’s only 30 million behind needs to elevate your brand PM PM the Super Bowl. The show was and attach greater meaning. It everywhere in pop culture, with needs to make you proud to endless coverage of the actors say you’ve enjoyed consuming and story lines, not to mention it, not cringing with guilt by a spike in sales of chess sets. Talk association. about audience engagement. To start, ask yourself, “Will “Engagement” gets thrown the content keep my audience’s around a lot these days. Es- attention?” But make sure you sentially, engagement is the ﬁnish with, “Will they be bet- “calories consumed” of content: ter off because they gave you HUBERT TERRY More calories mean more value their time?” Put another way, is to advertisers. But on a deeper the content going to feed your JOLY RASMUSSEN level, it’s not quite that simple. audience and contribute to Former CEO President and CEO Are people any less engaged the larger community? If you with the Kardashians than they can answer yes, then you have Best Buy Co., Inc. Thrivent are with The Queen’s Gambit? something worth attaching to Certainly not, but they’re get- your brand. ting better calories from The As demands and diversions Queen’s Gambit, and those asso- multiply, an engaged audience ciations are what beneﬁt brands. is that much tougher to achieve. If the Kardashians are sugar and The cotton candy might be simple carbohydrates, then The there for the grabbing, but it’s For more information and to register visit: Queen’s Gambit has to be Kashi in your interest to spend a bit honey puffs—good and healthy. more time creating and as- z.umn.edu/stTuesday Better calories mean better en- sociating with something more gagement and associations. nourishing. Now, let’s get current and PRESENTEDBY relevant. With the changes in Aaron Keller (aaronkeller@ the media landscape, brands are cawwpsule.us) is co-founder and now content creators. As many managing principal of Capsule say, good content is king (let’s (capsule.us), a Minneapolis say “queen” instead, so much branding agency. GETTY IMAGES better). So how does this “queen content” impact your brand-

APRIL/MAY 2021 | TWIN CITIES BUSINESS 27

26-27C-TM.indd 2 3/30/21 11:23 AM WORKING IT

Job Creators or Job Takers? Success Runs in Assessing the outsize impact of immigrant entrepreneurs in Minnesota. the Family Business By Linda L. Holstein

CALL FOR ENTRY Applications Due June 14 hat comes to Wharton School, found that W mind when you while immigrant workers put hear the word pressure on the U.S. labor sup- This October, Twin Cities Business “entrepreneur”? For many, that ply, foreign-born workers also will honor five outstanding label conjures a vision of someone create jobs “that increase labor relatively young (mid-30s to mid- demand.” Put plainly, that’s family-owned businesses and the 40s), male, white, and high-tech. more jobs for more people. value they add to Minnesota’s Such as Elon Musk, who happens Kim collaborated with to be an immigrant from South researchers from MIT, the economy and overall quality of life. Africa via Canada. National Bureau of Economic If you know a successful Minnesota Musk is the person who Research, Northwestern Uni- rebuilt a former California GM versity, and the U.S. Census family-owned business and the family plant into a Tesla plant in 2017, behind it—and yes, it could be a spawning more than 50,000 jobs while injecting $4.1 billion client of yours, or even your own into California’s economy in Immigration company—please share it with us. that year alone. Musk—not a must increase, if Tesla founder but an immigrant Series A investor—placed his Minnesota wants Enter today! PayPal earnings in an invention to maintain its that was, at the time, still ques- economic tcbmag.com/events/mfba21 tionable: electric cars. Self-starters who are im- resilience. migrants exist at every eco- PRESENTED BY nomic level in the U.S., but most importantly, they tend to Bureau. Their study, released in create more jobs, not simply fill late 2020, acknowledges that the existing ones. Native or U.S.- very topic of immigrant workers born citizens can be quite ada- is a political lightning rod in the mant—and ignorant—in their United States. Immigrants, for use of the “double-standard example, are assumed to work immigrant” stereotype. That’s for less because they “have to.” the view that immigrants fill Using tax records, Kim and the jobs many of us don’t want his fellow researchers found that (such as meat packers and per- immigration does not, by itself, sonal care aides), while simulta- suppress wages. Rather, wages SPONSORED BY neously taking jobs away from were the same or slightly higher “hardworking Americans.” for immigrant-founded firms In a recent report and pod- compared to firms with native cast, J. Daniel Kim, an assistant founders. Moreover, immigrant professor of management at entrepreneurs, in our current the University of Pennsylvania’s economy, account for break- throughs that yield close to 25 percent of patents and are more

28 TWIN CITIES BUSINESS | APRIL/MAY 2021

28-29C-WorkingIt.indd 1 3/26/21 3:42 PM Join us for a conversation about gender equity and diversity in corporate leadership. Are we making enough progress? This is your opportunity to gain important insights from executives who share their experiences, challenges, and advice as women in leadership.

likely to hold STEM degrees, ac- growth at twice the national rate PANELISTS cording to the Wharton study. for the period. But you don’t need a STEM Another DEED official, degree—or a patent—to open economic research man- a two-person sandwich shop ager Steve Hine, more recently and hire a third person who examined Minnesota’s depen- works part-time. One of the dence on immigrant labor. most powerful Minnesota voices Hine’s January 2020 report championing the economic emphasized, among a barrage impact of immigrant workers is of statistics, that labor force Remi Kent Kristen Kimmell Hamse Warfa, deputy commis- growth in Minnesota over the Global Chief Head of Advisor Recruiting sioner of the Minnesota Depart- last 10 years—new workers, new Marketing Officer and Field Marketing ment of Employment and Eco- jobs—was 27 times greater for 3M RBC Wealth Management nomic Development (DEED). immigrants than for natives. Warfa, the highest-ranking Hine published his findings, in African immigrant official in part, as a warning that immigra- Minnesota state government, tion must increase, if Minnesota emphasizes why immigrants are wants to maintain its economic key to an expanding Minne- resilience. sota labor force: They’re young, As Kim noted in his Whar- compared to the shrinking por- ton study, the natural fallout tion of U.S.-born Minnesotans from immigrant innovation of working age. benefits the economy for centu- “Prime workforce age,” ries. Today’s Fortune 500 list is Leslie Lee Terry Rasmussen according to the U.S. Census replete with entities founded in Vice President of President & CEO Digital Experience Bureau, is between 25 to 54. In the 1800s, such as the company Thrivent Hormel Foods Minnesota, more than 61 per- Éleuthere Irénée du Pont started cent of Minnesota’s immigrants in 1802. That immigrant was fall into that age group, com- a French chemist who escaped pared to less than 36 percent of the French Revolution and Tuesday, April 20 • Virtual Event native-born Minnesotans. religious persecution against Register Today! tcbmag.com/events/wil21 In his November 2019 Huguenot Protestants, emigrat- commentary, “Immigrants ing to the United States in 1800. Built Minnesota’s Economy and To his workers, he was presum- Culture. They Still Do,” Warfa ably “Monsieur du Pont.” To PRESENTING PARTNER PLATINUM SPONSOR notes that 107,830 foreign-born America, he was, most assuredly, people moved to Minnesota a huge job creator. between April 2010 and July 2018. His research, relying on Linda L. Holstein is a Minneapo- lis writer, trial lawyer, and vet- Census Bureau data, compares GOLD SPONSOR SILVER SPONSORS that migration to the rate of eran employment law attorney. immigration nationally. It Holstein also mediates employ- indicates that Minnesota, at ment and business law disputes

SHUTTERSTOCK (FLAG ELEMENTS) (FLAG SHUTTERSTOCK least during that period, saw a (holsteinmediation.com). rise in its immigration rate by 28 percent, which he notes is

APRIL/MAY 2021 | TWIN CITIES BUSINESS 29

28-29C-WorkingIt.indd 2 3/26/21 3:43 PM PLATTITUDES

The Problem with Prophets R I P th e ofﬁce. L on g ma y i t p r os p er .

By Adam Platt

n the last year, I’ve edited and read us are permanently at home, the side I more copy than a person should effects will subvert decades of efforts that foresaw the end of the office, to renew downtown. Imagine the a permanent change in all work. And strain on restaurants, retail, transit, boy, it sure made people sound wise to livability—it won’t be pretty while forecast it. On days when I’m alone in America’s downtowns retool, which my North Loop office, I do sorta scratch may take more decades. my head and wonder. But what if the prophecy doesn’t Target’s announcement that come to pass? Yes, the shrunken office it was dropping a third of its space spaces and flexible hours are baked in. downtown—rendering the Mul- But the more apocalyptic scenarios— tifoods Tower not just an eyesore, I’m not buying them. Here’s why: but an empty eyesore—gave further pause. Target (where my wife works) • One of the major failures of the has not cut downtown staffing by a pandemic was the public health third, but is anticipating a substan- community’s incapacity to grasp tially smaller cohort of red polos that humans are social creatures populating downtown each weekday. and many (most) of us could not I am not a devotee of trend- continuously isolate for a year focused, pundit-driven business or more. This blind spot seems wisdom, but those who are tell me to be driving predictions about that most of us are content working the future of work. Do we really into work, free of the shack- to expect the most mobile and from home (WFH). F orever. A survey believe 80 percent of the white- les of commutes or a working dynamic members of their work- of my own colleagues apparently collar workforce wants to sit in lunch, trip to the gym, happy force to work in isolation. gleaned something similar. So busi- their house alone all day? When hour, Starbucks run. We told nesses are drooling over rent savings, 28 percent of households consist ourselves it was temporary, and • Even WFH proponents admit of just one person? it would end. And so the days of onboarding, training, and main- continuous Zoom meetings and taining a culture have become But what if the • Remember coffee shops with continuous focus dawn to dusk perfunctory exercises in the annoying laptop squatters and will end as well. That was a bug pandemic. Your new hires feel prophecy doesn’t co-working spaces filled with of the pandemic, not a feature of isolated and less a part of your come to pass? people wearing annoying Blue- the future. teams. That can’t continue. tooth headsets? W hy were they filled with solitary folks on laptops • Younger people are champing Eventually these factors will and commercial real estate brokers if we prefer W F H ? Those folks at the bit to return to the converge and come to a head. Wise have a permanent case of the dry are coming back with a ven- office—for the social aspect, companies will provide choice but heaves. geance. I’m betting “third-place” but also because they want will grasp that the rewards of work Downtown Minneapolis’s settings will boom with workers meaningful opportunities to come not in a silent room, but while 200,000 office workers were the unap- displaced from offices. Can I still gain knowledge and advance. So sharing our tasks and wisdom with preciated foundation on which all buy WeWork stock? much of what I learned over my others. Most of us will return to the other dreams rested. Tourism, events, career happened in spontaneous office, despite grimy bathrooms and residential, and conventions were • The nonpandemic WFH uni- office conversations. Workplaces overpriced skyway coffee, because real the frosting on the economic cake verse won’t have the productivity that can’t offer wisdom sharing collaborative work requires it. that commuters baked. If an unde- gains baked-in that my bosses and knowledge growth will bleed termined but substantial number of are extrapolating. Americans, staff. A more normal economy A dam Platt is TCB’s ex ecutive editor. with nothing to do but take will promote turnover—espe-

walks, have poured themselves cially if workplaces continue SHUTTERSTOCK.COM

30 TWIN CITIES BUSINESS | APRIL/MAY 2021

30C-Platitudes.indd 1 3/26/21 8:33 AM 31Ad.indd 1 3/25/21 8:55 AM n Friday, April 3 0, Dave L ee in AM drive.” well. Minnesota’s agricultural sector Basket case or power player? will wake up at his south- The radio station was founded long relied on ’CCO for commodity The essential question to contextualize east suburban home, walk 9 9 years ago as WL AG at 7 10 AM; it and crop prices. The station’s farm WCCO’s future is whether these dire to his basement studio, and begin his became WCCO in 19 24, its call letters director was feted across the state’s ag audience metrics are really meaning- three-hour air shift at WCCO Radio. refl ecting its owners, the Washburn belt and held down important on-air ful. When he fi nishes, just before 9 a.m., Crosby Co., a predecessor of General segments each day. Now all that infor- “WCCO hasn’t focused on rat- it will not just mark the end of his Mills. It was reassigned to 8 3 0 AM mation is available on a smartphone; ings for many years,” says Shannon workweek, but the end of a radio ca- in 19 41. ’CCO dropped farm reports two gen- K noepke, the station’s market manager reer that dates back to 19 7 3 , at K RAD After the advent of television in erations ago. ( essentially its COO) . “The station [ is] in Grand Forks. the 19 50s, most national radio pro- There are other issues. In January, sold on results for clients.” It’s a self- For WCCO Radio, the day will gramming moved to television; local WCCO’s average listener, per Nielsen serving justifi cation, of course, but it be tinged with a sense of foreboding. radio stations, previously dependent data, was 6 5— older than any other is also not without an element of truth. L ee, 6 7 , is arguably the last in a line on networks for much of their pro- major media entity in town; 6 8 percent “[ WCCO] overachieves in rev- of legacy talent that connects the sta- gramming, were left to fend for them- were 6 5+ . ( Entercom says the age is 53 , enue vs. audience size,” says Mark tion with its heyday of the 19 6 0s and selves. WCCO seized the opportunity, perhaps relying on a lesser used metric Fratrik, chief economist at BIA K elsey, ’7 0s. His morning drive show gener- curating a lineup of legends and domi- known as median cume, which was a consulting fi rm that advises the in- ates somewhere between a third and a nance in audience metrics. under 54 for one month in 2020.) Ad- dustry. “News and talk listeners are in half of the station’s revenue, much of it For decades, WCCO was vertisers generally are looking higher demand,” he says. P eople selling from sponsor relationships L ee himself the place Minneso- for listeners 25– 54 “cars, boats, and other specifi c adver- formed and nurtured. tans turned or 18 – 3 4 tisers want that audience.” By contrast, His retirement is not merely a for years the advent of digital music and stream- symbolic break with the past, but a ing services has devastated music ra- critical fork in the road that will deter- dio, its programming commodifi ed mine the station’s future. That WCCO and often presented by disc jockeys ( 8 3 0 AM) had no replacement for L ee recording air segments from studios lined up just fi ve weeks before that hundreds of miles away. important day speaks volumes. The In January, WCCO attracted The iconic radio station that was slightly more female than male once the town square of Min- listeners, per Nielsen data. nesota faces a near-term full ( Most news/ talk stations at- of challenges. Shrinking tract a disproportionately ’CCO remains a pow- male audience.) Nonethe- erful force in Twin Cit- less, its recently departed ies broadcasting, earning program director told on-air millions in revenue for its Neighbor talent to imagine they were owner, P hiladelphia-based aspirationally programming Entercom Communications, Approaching its centennial, WCCO Radio remains the for a 42-year-old man. now the second-largest radio “[ Management is] defi - group in America, following storied icon of Twin Cities broadcasting. But does the Good nitely trying to young it up,” its purchase of CBS Radio in Neighbor have the stamina to make it in its next century? explains Adam. 2017 . But WCCO is in many Digital streaming is a re- ways a shell of its one-time self, By Adam Platt cent emphasis. K noepke proudly attracting a fraction of the audi- notes the station’s online listener- ence that it commanded in its heyday ship was up 47 percent year over year. and no longer a ratings leader among WCCO also is the only news/ talk sta- the region’s news and information station in town to provide live and local tions. programming in the evenings and As L ee moves from drive time to news old. much of the weekend. But from a scale a photo on the station’s wall of fame, and “It was al- standpoint, its reach is limited. Former WCCO faces the same question it has sports. But com- ways a challenge managing editor Steve Murphy says faced throughout the last quarter-cen- petition has hollowed out to talk around the age the station has operated with seven tury— what is the cure for its chronic that position. In the February 2021 thing,” says Ethan Adam, a longtime to nine news staff ( currently seven) audience atrophy, and is it worse than Nielsen ratings, released as this issue former ’CCO sales exec. throughout most of its recent history. the disease? of TCB went to press, Minnesota P ub- For most businesses, losing 9 0 The Minnesota P ublic Radio news- lic Radio’s all-news K NOW-FM was percent of market share would be cata- room has a head count of nearly 7 0. A history of dominance the # 2-rated local station, while iHeart strophic; so would bleeding 8 3 percent Even television wants part of “It was surreal, it was the place.” Those Media’s mostly sports K FAN was # 3 , of its customer traffi c ( see sidebar By ’CCO’s legacy. Many of the signature are the words of Jon Q uick, WCCO’s and ‘CCO was tied for ninth ( with sis- the Numbers, page 3 5) . Radio is no ex- elements of ’CCO’s morning show, marketing director, then program di- ter station Jack FM; Hubbard’s K S9 5 ception, but ’CCO has defi ed conven- from school closings to a full-time rector, from 19 8 0 to 19 9 2. “We had the was # 1) . For the fi rst time in its history, tion. That defi ance is the source of its meteorologist, have been ceded to Twins, the Vikings, music, news,” he WCCO’s biggest programming niches ongoing success, but also the core of its morning TV. says. “We had a 3 0 [ percent audience] are “owned” by competitors. existential dilemma: When is WCCO But the name of the game is reve- share much of the day and a 3 5 share Other factors had an impact as broke enough to merit an overhaul? nue, and WCCO remains a formidable

32 TWIN CITIES BUSINESS | APRIL/MAY 2021

32-37FEATWCCO.indd 1 3/29/21 9:04 AM 32-37FEATWCCO.indd 2 3/29/21 9:05 AM Does Audience = Dollars?

WCCO AUDIENCE maintenance of those relationships He graduated from the University of YEAR AD REVENUE SHARE (%) into an art form. North Dakota, then hopped to jobs in “I’m naïve enough to think spon- Grand Forks and Fargo. He became 1995 $18.8 million 11.9–13.1 sorships are real friendships,” he says. a regional celeb at KFGO, where his 2000 $21.2 million 7.6–9.4 “It’s not work for me.” stock in trade was comedy bits trad- One such friendship is with ing on the dialects and folkways of 2005 $21.6 million 8.6–9.2 Owatonna-based Federated Insurance North Dakotans, not dissimilar to the 2010 $14.2 million 4.9–6.4 and its chairman, Jeff Fetters. “We’ve schtick of Charlie Boone and Roger used WCCO for over 50 years,” Fetters Erickson. Quick heard him in 1984 2015 $14.5 million 3.8–5.3 says. “Dave was the reason we moved and thought Lee had the chops to fit 2019* $13.4 million 3.3–6.0 a lot of our advertising to WCCO. He right in at ’CCO. takes the time to understand the busi- He turned down a job in the sta- *2020 data distorted due to pandemic recession ness he’s representing. You can tell he tion’s sports department, but eventu- Data not inclusive of digital revenue. Source: BIA Kelsey really cares.” ally “my wife said, ‘If you don’t give it Federated’s approach is refresh- a shot you’ll regret it.’ ” Lee arrived at ingly old-school in today’s era of met- ’CCO in 1989. rics and precise ROI. “We don’t expect For most of his first decade at the [WCCO] to sell something for us. It’s station, Lee did AM drive fill-in work. force. BIA Kelsey estimates ’CCO is town who did not want to be quoted their reputation and the trust in the ’CCO’s air talent was long-tenured and the fourth highest-billing radio sta- publicly on a competitor, is that “ev- community that we hope conveys to had copious amounts of vacation. By tion in town. BIA and a combination erything is for sale, and there is so us,” Fetters says. WCCO delivers the the time Boone & Erickson retired in of local sources estimated WCCO had much to sell.” WCCO has more com- decision-makers the company is trying 1998, Lee was a familiar voice to their revenues of slightly over $15 million in mercial inventory than any station in to reach. And has “the right person to listeners and had been anointed by the 2019 (including digital). (2020 market town. The advertising load in morning deliver the message.” duo as their successor. revenues were down 28 percent locally, drive is particularly heavy. “He is without question the most say insiders, due to the pandemic re- “They started loading that show Morning-centric talented we’ve had here at WCCO,” cession. WCCO’s downturn may not with 22–24 minutes of [ads],” says When Knoepke says she has no con- says ’CCO evening host Mike Max. have been as great due to the buoyancy Quick. “That’s hard to listen to.” cerns about revenues rebounding, it “He can host any time slot. Call any of political advertising last year.) Everything on WCCO Radio can must be taken with a grain of salt for sports play-by-play. There’s no other That said, there are others in the be sponsored: time checks, weather a single reason: Dave Lee is retiring. person like him in the history of Twin industry who mistrust BIA’s data, forecasts, news updates, the studio Cities radio. He is an absolute natural. pointing to iffy revenue estimates itself. Every format element is a small He has a great voice. He can do play- BIA circulates for ratings leader KFAN, piggy bank. Knoepke expects station by-play in the evening and get up at which most of the industry believes revenues to rebound to 2019 levels 4 a.m. and interview the governor bills in excess of WCCO but who BIA this year. “I have no concerns,” without missing a beat. People says bills much less. These doubters she notes. like Dave Lee are born, not suggest WCCO is billing closer to One outsized aspect FOR MOST BUSINESSES, made.” $9 million to $10 million including of the advertising effort Max attributes Lee’s digital. Because the data is proprietary at ’CCO is personal en- LOSING 90 PERCENT OF effectiveness to “con- and WCCO refuses to comment, there dorsements by program MARKET SHARE WOULD BE stant preparation. He’s is no way to settle the question. hosts in place of recorded an extrovert. His social And despite ’CCO’s audience ads. WCCO has perfect- CATASTROPHIC; SO WOULD network is expansive. shrinkage, BIA’s estimates of histori- ed these endorsements, He’s in a lot of different cal revenues at the station show a much or “sponsorships,” as it BLEEDING 83 PERCENT OF ITS settings. He builds trust smaller decline. calls them, and they likely CUSTOMER TRAFFIC. RADIO IS while he gathers facts.” The permanent impact of the represent a greater share of Beyond being talent- 2008 recession is notable in the data, revenue for the station than NO EXCEPTION, BUT ’CCO HAS ed and exceptionally well- but also notable is that the falloff in any other locally. DEFIED CONVENTION. liked, Lee’s show is a cash audience is far steeper than revenue. “Our strength with en- register for ’CCO. (Digital revenues, recalls Adam, ac- dorsements is [that] we’ve earned Morning drive is responsible count for 10–20 percent of station listeners’ trust,” says Lee. “They’ll take for one-third to one-half of the billings revenues.) a look at it.” at most radio stations says Anselmo, One current WCCO employee And Lee’s prowess is known and WCCO is no exception. And be- who requested anonymity says that throughout town. When he took “Dave does more endorsements cause Lee reads so many of those ads, given its modest ratings and weak de- over the WCCO morning show in than anybody that I’ve worked with,” and nurtures so many of the advertiser mographics, “Entercom was shocked 1998, he says, then-general manager says retired WCCO market manager relationships, his departure breeds un- at WCCO’s top-line [revenue] when “Steve Goldstein told me I’m respon- Mick Anselmo. “And he does them certainty. they bought it.” sible for revenue and other people’s better than anyone.” “Dave has the strongest relation- One reason for ’CCO’s strength, livelihoods,” Lee recalls. He’s taken Lee is a native of Hatton, North ships with clients in their building,” says a competing radio programmer in that admonition to heart and turned Dakota, the son of a rural mailman. notes an exec at a competing radio

34 TWIN CITIES BUSINESS | APRIL/MAY 2021

32-37FEATWCCO.indd 3 3/29/21 9:04 AM WCCO BY THE NUMBERS From Big to Litt le group. “Don’t think we don’t smell host to retirement a year ago and was blood in the water.” not replaced, an apparent cost-cutting Lee says he will continue to do move. “[Entercom] have not invested ccording to data archived by local radio historian Jay Philpott, endorsements for the station as long positively in any of their Chicago prop- A in 1968, WCCO attracted a 51 share, meaning more than half as both sides fi nd it mutually satisfying, erties,” he says. “They have no bench, of the people listening to radio in the Twin Cities at any given which gives Knoepke a measure of con- and they don’t know how to nurture time were listening to WCCO. Its closest competitor, KSTP Radio fi dence. “Morning drive will continue talent.” (1500 AM), had just under an eight share. There was one FM sta- to be our strongest daypart,” she says. Knoepke has no choice but to re- tion reporting miniscule ratings that fall, Entercom music station “I believe if we can win in the morn- place Lee, but given the lack of an obvi- WAYL, known by the tagline “The Beautiful Whale.” (Prior to the ings, we will win all day.” ous in-house successor, the question is, CBS merger, Entercom was an owner of mostly music stations Knoepke is clearly talking about where to turn? Opinions are myriad. in midsized markets.) FM was a niche technology; in the 1960s, revenues, because ’CCO does not “You can’t replace Dave,” says An- most cars lacked FM radios. 1968 was ’CCO’s high-water mark in win in any key daypart. Lee’s show selmo. “You do something else.” Even the ratings era. was sixth in the market in the Janu- Lee calls it “an opportunity to recreate A decade later, in early 1979, with an FM band now full of ary Nielsen ratings, middays placed the format.” competitors, ’CCO still drew over a 30 share. That summer its ninth, afternoon drive tied for 11th, WCCO has a tattered rep replac- engineering staff went on strike (WCCO is the only remaining and evenings came in seventh. ing marquee talent. It has shuffled unionized radio station Job one for Knoepke is to hit a through a who’s who of local televi- in town), and its union- FROM LEFT: Charlie home run with Lee’s replacement. sion royalty in PM drive since Steve ized talent honored the Boone, Twins owner Calvin Griffith, and Which is why it’s such a head-scratcher Cannon’s retirement, to little appar- picket lines. Manage- Roger Erickson that fi ve weeks from his retirement, no ent success. Cory Hepola moved from ment manned the mics one has any idea what is next. KARE-11 two years ago and describes for fi ve weeks. “This is not a transition where you his midmorning niche as a work in The strike ended wing it,” says Tom Langmeyer, CEO of progress. Obvious local radio competi- and talent returned, Great Lakes Media. Langmeyer was the tors that TCB spoke to are uninterested but a third of WCCO’s vice president of CBS Radio’s news/ or hemmed in by noncompete clauses audience did not. Co- talk group in the 2000s (including or contracts. incidentally that year, WCCO) and ran KMOX in St. Louis In that vein, there’s some talk that says Philpott, five FM and WGN in Chicago, two of a handful WCCO will go to more of a continuous stations moved their of similar “heritage” AM stations left newscast in AM drive and might not antennas to the IDS in the country. Langmeyer listened to immediately designate a successor. Ru- Center so their signals blanketed the metro area. Also in 1979, WCCO over several days before agree- mors abound that WCCO-TV morning Hubbard-owned KSTP-FM became KS95 and, under program ing to share his thoughts with TCB. anchor Jason Derusha is high on the sta- director Chuck Knapp, emerged as the town’s fi rst FM station that He said succession planning is key in tion’s list of possible successors, and the did more than just play music. Strike-weary listeners sampled the a transition like Lee’s. former CBS corporate siblings might better fi delity of the FM band, and realized it offered weather, ’CCO suggests it is ready. “We’ve even look to simulcast some of his traffi c, and news, and some stayed. known about this for a year and a half,” 4:30 a.m.–7 a.m. TV newscast. “We never really recovered,” says former WCCO program says Knoepke. “It’s a weekly conver- “Morning drive has pretty much director Jon Quick. sation. We’re going through a search transitioned to news,” Lee says. “The One can debate the merits of ’CCO’s programming and its role process, auditions.” format is not conducive to [comedy] in a 50-year ratings slide, but the real driving force was competi- Normally that process would bits anymore.” tive pressure. ’CCO held a 20 share as late as 1991, but by 1998, be driven by a programming execu- And that’s where attracting mar- with Steve Cannon and Boone & Erickson all retired from their tive, but right now WCCO is with- quee talent to AM drive is a challenge. drive-time strongholds, the station had fallen to a 10 share. The out a “brand manager,” as Entercom “You want a compelling talent who era of double digits ended around 2000. For a decade then, ’CCO labels the role. Knoepke dismissed loves to perform,” says Quick, “but it’s routinely rated in the upper single digits, but between 2012–2013, John Hanson during the winter, the not really a job a performer is going ’CCO saw more audience loss, concurrent with competitor KFAN’s third programming exec she has to want.” In essence, 1989’s Dave Lee move from AM to FM. This left WCCO with a 4 to 6 share of the replaced during her six-year tenure. might not want 2021 Dave Lee’s job. audience, which it has held for most of the last decade, though Though Knoepke is well-liked WCCO’s inability to develop its periods between 3–4 shares have not been uncommon. and described as a leader by most of next generation of program hosts is Another way of measuring a radio station’s impact is “cume”— the staff TCB interviewed, it is unclear at the core of the station’s audience the number of individuals listening per week—an important stat how much decision-making authority struggles. An inability to maintain for many advertisers trying to reach the greatest number of Entercom cedes to local management. programming leadership with a con- ears. As recently as 1979, WCCO had 1.4 million in cume. In the Some observers and past employees sistent vision is another factor. “It’s January 2021 ratings, that number had sunk to 181,000, a drop believe it is very little; others say it’s your job to build a bench,” explains of 83 percent. near-absolute. Quick. “I went on the road to listen “Most of that decline is not being on the FM dial,” says Mick Chicago-based broadcast indus- to radio, like a baseball scout.” Quick Anselmo, who ran WCCO from 2008–2015 and spent 23 years try columnist Robert Feder told TCB found Lee in Fargo and former midday prior building the powerhouse group of stations that is the local that Entercom-owned market leader host John Williams, now at WGN, in iHeartMedia cluster, whose fl agship KFAN is the most dominant WBBM-AM lost its morning drive co- Peoria, Illinois. sports radio station in the country by audience share.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 35

32-37FEATWCCO.indd 4 3/29/21 9:05 AM AM Blues The case for change ways. “They’re looking for someone to Questions about its future change it without changing anything,” he decline of AM radio has been happen- are not new to WCCO — Bloom says. “They need to hire some- T ing for decades. Though the bulk of ra- yet it has long shied away one with a track record of success, with dio listening happens in cars, there are now from dramatic shifts in a vision, and get out of the way.” car manufacturers that do not include AM tone or emphasis. Kno- Even the station’s detractors ac- bands on their sound systems. And most car epke was rather unforth- knowledge this is not an easy proposi- radios do not allow you to switch between coming in TCB’s in- tion. “The biggest problem is finding stations on different bands easily. terviews, conducted by people qualified to update a heritage “You get in a rental car and AM is still set to factory presets,” phone and email, with David Heim, brand,” says Langmeyer. There are says Twin Cities radio historian and former WCCO marketing Entercom’s corporate communica- probably fewer than 10 stations in the exec Tom Gavaras. tions vice president, monitoring; she country of ’CCO’s scale and format. A local watershed was KFAN’s move to FM in 2011. The fol- declined to talk about ratings, audi- Bloom was followed by Hanson, lowing year, WCCO experienced an enormous ratings drop. The ence data, revenue, nor, unsurprisingly, who came from an Entercom sports move apparently took many of ’CCO’s occasional listeners off candidates to replace Lee. station in Kansas City. Said one ’CCO AM permanently. Knoepke focused on key themes insider, “he had the misfortune to ar- For WCCO to survive the next decade, the consensus is the like trust, reliability, and tradition, but rive with a sports-oriented mentality station needs an FM signal. “This is a turning point,” says former did not articulate an interest in change. in a period when hard news became program director Jon Quick. “WCCO needs to get on FM. If you But many industry observers believe primary.” want to look at building new audience, you need to be on FM.” the only way forward for ’CCO is a Knoepke says she intends to re- Retiring morning host Dave Lee will not be around to broad- major update and modernization of place Hanson with “a leader with for- cast over it, but “I think you do need an FM signal,” he says. its sound. At every transition in the ward vision.” There are two ways to accomplish this—buy a station or use recent and not-so-recent past, the sta- ’CCO’s air talent is thirsting to one of parent company Entercom’s. In 2021, Entercom country tion chose continuity over reinvention, take some risks. “Our biggest challenge station 102.9 FM The Wolf’s programming day will be broken worried about jeopardizing what still is letting people know what we’re do- up by up to 190 Twins simulcasts. This is a problem for a station are very substantial revenues. ing and finding a new audience,” says already fighting for listeners with iHeart’s K102 and streaming “ ’CCO’s power ratios [the revenue Hepola, referring to the challenges of services. Programmers in town told TCB that by simulcasting premium it derives above what ratings getting the word out about his new Twins baseball, Entercom has effectively killed The Wolf’s ability metrics would dictate] are what make it program. to hold an all-day audience. hard to change,” says former program- “For radio to work right now, peo- So why not simulcast WCCO all day on FM, as Entercom has ming boss Andy Bloom, whom Kno- ple need to know what you’re about,” done with WBBM-AM in Chicago? Because that would require, epke hired in 2018, but was replaced says noon–3 p.m. host Chad Hartman. at least temporarily, sacrificing the several million dollars The in less than a year. “Revenue matters, “It has to be distinctive, even memo- Wolf bills. “CBS and Entercom both told us you’ll never make and their revenue has held up as the rable. You have to have an opinion. up the lost revenue with a simulcast,” says former WCCO sales ratings have slid.” There’s not a future in bland. People exec Ethan Adam. Knoepke is regarded by competi- tune into talent. That’s why [KFAN’s] In the current environment, such a move seems untenable. tors and staff as a capable executive but Dan [Barreiro] is the best show in town “The big three [Cumulus, Entercom, iHeartMedia] are overlever- her background is entirely in sales. The right now.” aged and burning the furniture to stay alive,” says an industry consensus in the industry is she needs “A major risk needs to be taken source currently involved in brokering radio station transactions. an equally capable programming ex- to capture new audience,” says Sunday Historically, solid radio signals sell for large multiples, so ecutive to manage the burden of talent host Roshini Rajkumar, “within our Entercom could never hope to pick up a competitor’s signal for development and strategy. tradition of voices of authenticity.” She a song, if you will. But in late 2020, the opportunity presented Some believe her two program- said if there is a long-term vision for the itself. Northern Lights Broadcasting, the radio arm of the Pohlad ming hires, Bloom and Hanson, were station, she is unaware of it. family enterprises, which had paid $28 million to acquire GO imposed by Entercom. Hanson de- Development of talent is an 96.3 FM in 2007, put the station and its low-power sibling at clined an interview, but Bloom does industrywide problem, says Bloom. 95.3 FM up for sale. not accept the thesis, saying he had “It’s driven by a generation of budget The Pohlads found it difficult to make money in radio, and re- numerous detailed conversations with cuts across the industry.” couping their investment proved no easier. Still, the local industry Knoepke before his hire: “[She] did There’s one other problem, and it’s was shocked when Northern Lights sold both frequencies to a not hire me because [she] was satisfied a big one. Only a fraction of listeners nonprofit religious broadcaster for just $2.45 million. Had Enter- with 180 cume (see sidebar, page 35) even use the AM band. As one empa- com made an offer for GO, it could have acquired an FM signal and 4.5 share.” thetic competitor put it, “[WCCO is] for WCCO for less than the cost of a year’s revenue on The Wolf. Bloom believes he was hired to programming for the audience avail- It’s key to note that as of this winter, Entercom stock was evolve to a sharper-edged news/cur- able to them.” down 62 percent since buying CBS Radio. iHeart went bankrupt rent events format, but Knoepke got According to data provided to sta- in 2018, the same year Cumulus emerged from Chapter 11. The cold feet. “As long as people think of tions by Nielsen, in 2020, 82.2 percent industry’s fiscal state is constraining its capacity to spend, says WCCO as their grandparents’ station,” of the available radio audience did not former CBS Radio executive Tom Langmeyer: “There have just Bloom says, “then it is.” tune to AM (see “AM Blues” sidebar, been very few transactions of this type in the past few years, The question is whether ’CCO page 36). What this means is WCCO

period.” leadership is trying to have it both is casting an audience net that reaches CAITLIN ABRAMS (WCCO)

36 TWIN CITIES BUSINESS | APRIL/MAY 2021

32-37FEATWCCO.indd 5 3/29/21 9:05 AM only 18 percent of listeners, almost all pivots to sports. KFAN has outpaced Knoepke declined to say any- than bandwidth, so WCCO is at no of them over 50. There are only two WCCO in talent development as well. thing specifi c about WCCO’s audience competitive disadvantage online, AM stations left in the region that “KFAN works so well because it’s not makeup or future goals. and is increasingly adept at promot- even attract a substantial audience: about a formula,” says Hartman, “it’s The fi nal factor limiting WCCO’s ing and marketing its digital content. ’CCO and iHeart’s conservative talker, about talent.” reach is that, like most radio stations (Edison Research found in 2019 that KTLK. One reason you’re unlikely to in America, it is owned by an overlev- as many people were listening to The AM defi cit is so signifi cant see a major programming shift from eraged media company that reported radio on a mobile device as on a that when Twins baseball returned to WCCO is that the only space not oc- radio.) Anselmo says most stations are WCCO in 2018, the team required an cupied by a more robust competitor is getting 10 to 15 percent of their audi- “out clause” if WCCO could not get the one it holds. ence from the stream. Unfortunately an FM simulcast by 2020. (Games are for WCCO’s branding needs, now simulcast over Entercom country Programming to that’s under the umbrella of station “The Wolf” at 102.9 FM.) diverse audiences radio.com, Entercom’s digital Though WCCO’s ratings do streaming brand. Boxed in not include listeners out- FOR RADIO TO WORK Q The divisive A decade ago, the world was WCCO’s side the metro counties, Trump presidency, oyster, competitively. KFAN was still its programming often RIGHT NOW, PEOPLE NEED TO Covid-19, and now the struggling on the AM band. KNOW seems equally geared KNOW WHAT YOU’RE ABOUT. IT year of the trials con- had yet to become a major competitive to greater Minnesota. nected to the death presence. And Hubbard’s all-sports It is neither urban nor HAS TO BE DISTINCTIVE, EVEN of George Floyd have format at 1500 AM never got enough urbane. Its legendary MEMORABLE. YOU HAVE TO HAVE provided an extraor- traction to be relevant. At that point, air talent over the last dinary opportunity for WCCO could have made a format four decades made their AN OPINION. THERE’S NOT A news-driven stations to pivot and occupied any market niche mark with a schtick rich reintroduce themselves to it wanted. in Scandinavian dialects FUTURE IN BLAND. the market. Today, the station is boxed in. and jokes about herring. It Q Finally, WCCO remains KNOW has nearly twice ’CCO’s au- resonated for enough of us, but if —Chad Hartman, a cash machine with a commu- dience share and more than twice the you didn’t grow up on a farm or in a WCCO 12n–3p host nity of satisfi ed advertising partners. number of listeners per week. “They’ve deeply Lutheran suburb, it could also If it can stave off additional audi- had a huge run. Public radio started be a barrier. ence erosion, it can tread water for a acting like real radio, promoting, em- After years of programming to the miserable 2020 results. The large na- long time before sinking below the ploying formatics [programming tech- least diverse aspects of Minnesota’s tional radio groups—iHeart, Enter- horizon. “Entercom doesn’t under- niques to hold listeners’ attention],” population, WCCO has made strides com, and Cumulus Media—control stand the legacy,” says Quick, “but if says Bloom. “I’d look at them as a in recent years to diversify its air tal- most of the key dial positions in the Shannon [Knoepke] can sell the heck model for how to modernize a format.” ent. PM drive cohost Jordana Green is Twin Cities. iHeart is at its maximum out of it, it doesn’t matter. People have KFAN’s dominance over ’CCO in a highly observant Jew, Cory Hepola is of six local signals, while Cumulus, been writing WCCO off for years.” sports is equally stark. It’s not a coinci- in a mixed-race marriage and is father Entercom, and locally owned Hubbard Why then is the biggest question dence that after 6:30 p.m., when KFAN to Black children, and late evening host Radio have three. The supposition is around town not ’CCO’s direction, ends local programming, WCCO Henry Lake is Black. Weekend hosts that to maximize the economic lever- but whether Entercom intends to sell Rajkumar and She- age of owning an urban radio cluster, its historic studio building in down- letta Brundidge are one or another of these groups will town Minneapolis to raise cash? The also women of color engage in a sale or swap to produce a threat to WCCO long-term may not who offer vastly dif- second six-station cluster. be the age or size of its audience, but ferent takes on that “Having six stations in town is key an owner who sees it as a pawn or rook experience. to maximizing revenue,” explains An- on an industry chess board. “I’m in favor of selmo. “This is a game of shelf space. “Radio is most threatened by diversity in our con- Something in the next fi ve years is go- people in leadership roles who only tent, but I’m against ing to change.” Hubbard isn’t going account for it as a commodity and tokenism,” says Ra- anywhere, and could be a buyer, but see stations as real estate assets,” says jkumar, a commu- Anselmo says Entercom or Cumulus Langmeyer, speaking of the industry nications consultant may choose to exit the market, to then in general. “But radio has an incred- in her weekday job. “I grow in another. ible future when led by smart, creative, want us to think big, visionaries who can build connection address diversity and Th e future with an audience.” inclusion with smart, A savvy contrarian would make sev- A 100 year-old AM station can qualifi ed hosts. Not eral points in WCCO’s defense. dream, can’t it? [be] sappy and pla- Q First, digital streaming and cating, but challenge smart speakers may quickly render Adam Platt is TCB’s executive editor. Dave Lee people to think for the AM band struggle moot. There He has covered media businesses in the themselves.” is no “band” on the internet other Twin Cities since 1985.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 37

32-37FEATWCCO.indd 6 3/29/21 9:05 AM WORKING MOMS

After Covid-19 arrived, Amelia Williams Hardy was suddenly juggling her children’s distance learning and her work as a Best Buy executive from her family’s Woodbury home.

38 TWIN CITIES BUSINESS | APRIL/MAY 2021

38-46FEATWomenInLeadership.indd 1 3/30/21 11:09 AM BY LIZ FEDOR

PHOTOGRAPHS BY ELIESA JOHNSON

Children’s distance learning and work-from-home demands are increasing stress on working mothers. Yet three Minnesota women executives are carving out distinct paths to raise their children and build fulfilling careers.

RECALIBRATE CORPORATE LIFE

38-46FEATWomenInLeadership.indd 2 3/30/21 11:10 AM ‘IT’S A CATCH-22’

Hardy, 45, doesn’t plan to downshift her career, but she acknowledges that she and her husband regularly talk about the family challenges associ- ated with two demanding careers. “It’s a tricky conversation and it’s hard,” she says. “It’s a Catch-22. I think we both want each other to succeed and do what’s best for the other, and I think we also want that for ourselves. It’s an ebb and flow for us. It definitely is an ongoing conversation. It’s a conversation that I don’t think is going to stop until we retire.” A As a Black woman who has reached the vice president level at Best Buy, a publicly traded company, Hardy is part of a small number of BIPOC Amelia Williams Hardy is undaunted by busy part of on the Zoom calls.” women nationally. The recent McKinsey study schedules, but she also recognizes that daily life Elijah’s day care center has remained open documented the gender gap that still exists in the can quickly deteriorate into chaos when both throughout the pandemic, but Hardy says he’s corporate pipeline. Just 19 percent of C-suite jobs parents are corporate executives trying to raise been at home anytime he showed cold symptoms are held by white women, and only 3 percent are four children. or had any illness. held by women of color. At the vice president level, Hardy is vice president of inclusion and diver- “That was hard, because he would be jumping white women occupy 24 percent of the jobs, with sity strategic initiatives at Best Buy. Her husband, in the background on my sofa or in the Zoom women of color in 6 percent of the positions. Cordell, is vice president of global corporate camera,” Hardy says. Hardy, a native of Overland Park, Kansas, research and development operations at 3M. “It’s all a blur,” is how she describes the early initially wanted to be a doctor and earn her un- Their children are Elijah, 3; Eden, 10; Elise, 13; weeks of working from home and overseeing her dergraduate degree at a historically black college. and Isaac, 16. children’s instruction. “I felt guilty that I wasn’t “I grew up in a suburb that was predominantly “We live by our Google family calendar,” able to help them more,” Hardy says. “We were still white,” she says. “My whole experience growing Hardy says. “I always say, ‘If it’s not on the calen- working and weren’t able to spend the full time up, I never had a teacher of color. I was usually the dar, then it doesn’t exist.’ ” with them that we needed to.” only child of color in my class. I wanted to experi- But Hardy’s carefully constructed calendar The disruption that Covid-19 has caused for ence something different.” was rendered irrelevant in March 2020, when working mothers worries advocates of gender Multiple internships piqued her interest in Covid-19 forced her children’s schools to close, parity in corporate America. business, and she went on to earn a bachelor’s and she and her husband shifted into work-from- “During Covid, you’ve got so many more per- degree in business administration from Xavier home mode. sonal household responsibilities that women are University of Louisiana. After finishing her MBA The Woodbury couple had to improvise. juggling, on average, more than men,” says Kweilin at Tulane University, she accepted a job at 3M in “I had the dining room table for the first Ellingrud, a senior partner in the Minneapolis 2000 and climbed the ranks to global business unit couple of months,” Hardy says. “It’s not good for office of McKinsey & Co. “[Women] are stagnating manager over a 14-year run. your back and neck.” Cordell Hardy was using the at work, and so they’re less likely to get the promo- She married Cordell Hardy in 2003, after meet- home’s office, and the three oldest children often tion or take on new challenges.” ing him at Pilgrim Baptist Church in St. Paul, where did their homework there, too. The annual Women in the Workplace study, they were both part of the church’s young adult “The challenge was if he was on video calls, released in September and conducted for McKin- ministry. When they first met, Cordell was finishing which mainly he was, then we’d spread out,” Hardy sey and Lean In, showed that the pandemic exacer- his Ph.D. at the University of Minnesota, and the recalls. “So you would get my youngest daughter bated the challenges women already face carrying couple knew they both had strong career ambitions. working at the kitchen table, my oldest daughter heavy loads at work and at home. Some working When firstborn Isaac arrived, it kicked off working in my youngest son’s room, and then women are “downshifting their careers,” Ellingrud the discussions about how to juggle children and my oldest son would usually be in his room. We says, while others are thinking about “stepping careers. “Being a new parent, I was nervous to send needed enough space to spread out so that you out of the workforce altogether because right now Isaac to day care,” Hardy says, so she and her hus- could still hear the conversations that you were a there are just too many things going on.” band hired a full-time nanny, a young woman they knew from their church who was taking a year off of studies before beginning law school. “WE DON’T HAVE TRADITIONAL “After that, we put our kids in day care,” Hardy says. “Then when we moved to a bigger ROLES. MY HUSBAND DOES MOST house when I was pregnant with our third child, we realized that we needed more help. And that’s OF THE COOKING AND MEAL when we actually started looking into au pairs.” PLANNING, AND I TEND TO DO FINANCIAL STRAIN MOST OF THE ACTIVITIES.” OF CHILD CARE —Amelia Williams Hardy, vice president of inclusion Their local insurance agent recommended that and diversity strategic initiatives, Best Buy they try au pairs, which typically involves a short-

40 TWIN CITIES BUSINESS | APRIL/MAY 2021

38-46FEATWomenInLeadership.indd 3 3/30/21 11:10 AM term contract arrangement with someone from can stymie women’s careers. power on the home front,” Lublin tells TCB. “This abroad who lives with the family and takes care of In her personal life, Hardy says, she’s talked younger generation of executive moms tend to pick the children. The Hardys employed au pairs until to friends early in their careers who asked aloud as their partners or husbands or wives individuals about two or three years ago, and then returned to whether it’s “worth it” to hold certain jobs, because who share their outlook about co-parenting and employing nannies. their salaries might equal or be less than their child also being partners in terms of the domestic tasks.” It takes two to accommodate two demand- care costs. ing careers. The morning nanny helps get Elijah “The child care thing is big,” Hardy says. “The up and off to day care in the morning, while the government can help with that, companies can help BLAZING HER afternoon nanny picks him up and helps with with that—whether through subsidization or poli- OWN PATH after-school activities. When the pandemic hit, the cies to make it more equitable and accessible.” Hardys furloughed their nannies to follow safety Hardy says that she and her husband are united Karen Parkhill, 55, the chief financial officer of protocols about limiting virus spread. After they in balancing out the work of family life. “We don’t Medtronic, just missed the cutoff for the baby learned more about Covid-19, they hired two new have traditional roles,” she says. “My husband does boomer generation, which contained what Lublin nannies, who are now part of their Covid bubble. most of the cooking and meal planning, and I tend describes as trailblazer women executives. About six years ago, after Cordell’s mother to do most of the activities.” Early in her career, Parkhill encountered the retired, she moved from Philadelphia to Woodbury In their case, she says, they both have “the vestiges of male domination in investment banking. so she could help with driving her grandchildren to mindset” to play the position that’s needed at the A graduate of Sacred Heart Academy, a events and taking them to doctor’s appointments. given time. “People have to really be in it and inten- girls Catholic high school in Springfield, Illinois, Before the pandemic, Hardy says, her Kansas- tional about making it work,” Hardy says, “and not Parkhill originally thought she wanted a career in based mother also pitched in. “If Cordell was gone holding so tightly to any stereotypical or familiar medicine. But she shifted gears after three semes- to Asia for a couple of weeks, she would come up roles.” ters at Southern Methodist University in Dallas. “It and help during that time,” she says. Joann Lublin, author of the new book Power was an adviser actually who steered me toward the Hardy acknowledges that her family has spent Moms: How Executive Mothers Navigate Work and business school and finance because it was related a huge amount of money on child care. “The acces- Life, interviewed baby boomer executives and wom- to my love of math,” Parkhill recalls. She ultimately sibility of affordable child care at all levels is really en holding executive roles in their 30s and 40s. “The earned undergraduate degrees in business admin- hard to find,” she says, which is a major issue that calculus has changed in terms of the sharing of istration and mathematics.

Amelia Williams Hardy is among a small percentage of BIPOC women who hold executive positions in U.S. public companies.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 41

38-46FEATWomenInLeadership.indd 4 3/30/21 11:10 AM She began her professional career at a regional investment bank that’s now part of Dain Rauscher, doing public finance work on municipal bonds for cities, counties, and other government units. Three years later, she enrolled in a full-time MBA program at the University of Chicago. She thought what she learned at Chicago’s Booth School of Business would be her ticket to the big leagues of investment banking. She was right. She was hired by JP Morgan in 1992 and moved to New York. But she had a complicated personal life. She was dating Jeff Parkhill, whom she had met as a fellow business school student, and he had been hired to work for Kraft Foods in Chicago. “We had a long-distance relationship for almost two years,” Parkhill says, until she was able to land a job in JP Morgan’s new Chicago office. The couple married on Dec. 31, 1994, and planned to have children. “Sadly, back at that time in investment banking, there were very few senior women role models,” Parkhill says. “And there was this unspo- ken almost-rule that you shouldn’t have children before you were a vice president. I can’t think of any women back then who had children at a younger career age.” Parkhill followed the cues of the other JP Maximizing the Morgan women. “I honestly waited until I was a vice president, and by that time we were older, and ‘Work/Life Sway’ for Women we had trouble getting pregnant,” she says. “So we ended up having to go through in vitro [fertiliza- BY LIZ FEDOR tion], which is why we were blessed to have twins.” Hayden and Hunter are now 21. The couple later adopted their daughter, Cheney, who is 14. Janel Wittmayer, 50, still and connectors. Last summer, “Things turned out fine,” Parkhill says. “But recalls the advice she got the business moved into a one of the things that I tell women now is, ‘Never, about blending work and new 132,000-square-foot ever put your personal life on hold for your pro- family while she was an MBA headquarters in Roseville. fessional life.’ ” student at the University of Wittmayer, who was Before the twins arrived, Parkhill needed Minnesota. hired full-time by H.B. Fuller to come up with a child care solution. “Both my She had joined while she was still earning husband and I had big jobs, and we both traveled fellow Carlson School of her chemistry undergraduate a lot,” Parkhill says. “We needed to have the most Management students at an degree, has been keenly flexibility that we could have. We had one nanny annual conference targeted focused on her career for for the first two years of the boys’ lives, and then to graduate women business 30 years. Despite being we hired our second nanny. She is still with us and students. a disciplined person who she is part of our family.” “I distinctly remember doesn’t waste time, she knows For a good portion of her career, Parkhill one of these women who was that she doesn’t have enough says, she managed to get promoted by “just work- speaking,” Wittmayer says. time in her days to solely lead ing harder than the next person to really prove “She was telling us that as you a business and care for her myself.” Working in the male-oriented investment start to accelerate your career, family and home. banking sector, women tended to create their own and as you have kids, you When her son, Zachary, breaks. have to constantly be thinking was born 14 years ago, she “There were a few really great men along the about what value your time and her husband, Jon, hired way in my career, and all of them were men who has.” The speaker’s advice: a nanny. “That was really one either had a spouse who had their own career Seek help and outsource of the best decisions we ever or had daughters who were ambitious and they whatever you can. made,” Wittmayer says. “She wanted their daughters to have strong careers,” she Today, Wittmayer is is an extended part of our says. president of Colder Products family yet today.” Today Parkhill is the executive sponsor of the Co., which employs about Wittmayer’s family has a Medtronic Women’s Network subgroup Com- 840 people and makes quick housekeeper and a snowplow mit to Connect, which bolsters the corporation’s connect couplings, fittings, service, and the business

42 TWIN CITIES BUSINESS | APRIL/MAY 2021

38-46FEATWomenInLeadership.indd 5 3/30/21 11:11 AM executive says she’s grateful embraced by young women accessible. That’s also the bad that she learned early to business leaders. news. We have to learn to set “make time for the things that She discusses it in her boundaries.” do add value.” new book Power Moms: How Rasmussen also Executive Mothers Navigate recognizes the downside of Coping with Work and Life. She wrote: an endless stream of video ‘mother’s guilt’ “They deliberately move meetings, emails, notifi cations, Despite her efforts to prioritize back and forth between the digital chats, and social media time for her family and her professional and personal posts. job, Wittmayer says “mother’s sides of their digital-centric “Zoom fatigue is real,” Kweilin guilt is real,” based on her lives, accepting inevitable Ellingrud she says. “If you’re on calls all experience. She says other and aggravating disruptions day, there’s no thinking time.” working mothers have told her such as taking youngsters to Thrivent recently instituted they feel the same way. medical checkups during the one or address other needs in a “no Monday-morning “I remember stepping workday.” their personal lives. meeting” rule. “People need on the plane, once yet again Yet the ability to “sway” time to prepare for the week,” to be gone from my son for gives some women a greater Drawing boundaries Rasmussen says. “I know I several days and knowing feeling of control during As 3M’s global chief take an hour every morning there were things that were the day, because they aren’t marketing offi cer, Remi Kent to do my reading and prepare going on that I was going waiting for their workdays to is accustomed to the hectic for meetings so I can have to miss, and breaking down end before they can attend pace of corporate work that productive meetings.” crying on the plane,” she says. to personal business. “Certain includes frequent travel and While Rasmussen is Her travel schedule second-wave mothers I met a full meeting schedule. striving to create a workplace fueled the guilt. “Historically, run a global work team from Yet, in some ways, she says, culture that supports working I have traveled in my career their master bedroom,” Lublin working from home during the parents, not every employer somewhere between 50 and wrote. “Some order groceries pandemic has been even more offers a family-friendly 70 percent,” Wittmayer says. online as they march into a taxing. environment. Author Lublin “When I’m not traveling, I business boardroom. Others “I didn’t realize how much tells TCB that this current make it an absolute point to escaped corporate America driving to and from work reality means that talented be home for dinner.” by forming their own business. created some boundaries,” women have the power to Dinner time becomes Female entrepreneurs Kent says. “It gave me a choose workplaces that the family’s connection time. frequently devise family- clear cut-off time from work, demonstrate support for “When we are at the dinner friendly environments rather and when I was home I was family needs. table and when I’m able to than expect mothers and available to my son.” “There are many, many make dinner at home, the fathers to work as if they She is a single mother to more places you can work phones are away and we don’t weren’t parents, too.” her 13-year-old, who lately has that are supportive of the pick up our phones,” she says. The constant movement been telling her, “You work needs and demands of “We are trying to be present between work and family too much.” being a working parent and focused and make sure responsibilities has been While some business and a committed worker,” that I have time with my son, especially clear during the leaders have argued that Lublin says. In contrast to as well as with my husband, pandemic as parents juggled working from home is more 20 or 30 years ago, she that is meaningful.” doing their own work and effi cient, Kent has found that says, “that’s partly different helping their children learn the environment easily can because, lo and behold, there from home. drift into long workdays with are more women in senior Based on recent research no boundaries. management.” by McKinsey & Co., senior “I’ll push dinner to take As baby boomer women partner Kweilin Ellingrud says a call and it goes and goes,” rose to senior management it’s been exceedingly diffi cult Kent says. “We’re a global roles, she says, they proved for some parents to meet company, so I’m constantly that women could handle the demands of both their meeting with partners from powerful corporate jobs and employers and families. around the world. The day has also be mothers. After they “We did see around half of expanded, with meetings from ascended to C-suite positions, Janel even senior women felt there 6 a.m. to 10 p.m., depending they changed workplace Wittmayer was an increased pressure to on the time zones.” culture by incorporating work more during Covid-19, Terry Rasmussen, policies to help women fulfi ll For many years, executive and also a really intense president and CEO of their family responsibilities. women have talked about pressure to be what they call Thrivent, has similar concerns. “Now they act as mentors their desire to achieve work/ ‘always on,’ ” Ellingrud says. “There are good things and sponsors for a lot of the life balance. But veteran Instead, she says, parents and about technology, and bad,” younger women,” Lublin says. journalist Joann Lublin says nonparents alike need their Rasmussen says. “You can that elusive balance has been employers to solidify fl exibility work from anywhere, and Allison Kaplan, TCB replaced by the concept of options, so they can take if your child has a doctor’s editor in chief, contributed “work/life sway,” which is more time to care for a loved appointment, you can be to this report.

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38-46FEATWomenInLeadership.indd 6 3/30/21 11:11 AM women vice presidents around the globe. P arkhill says they offer mentors, sponsors, vice president Medtronic CFO Karen group sessions and other support to help retain Parkhill and her husband, and promote the women into more senior posi- Jeff, are raising their tions at Medtronic. daughter Cheney, 14, in Wayzata. Karen also P arkhill, who serves on the board of Ameri- serves on the American can Express, landed the plum Medtronic CFO Express board. job in 2016 after serving as CFO of the Comerica ﬁnancial services company. She got on the CFO track after making what some might view as a risky move. “ONE OF THE THINGS THAT I TELL WOMEN NOW IS, ‘NEVER, EVER PUT YOUR PERSONAL LIFE ON HOLD FOR YOUR PROFESSIONAL LIFE.’ ” —Karen Parkhill, chief financial officer, Medtronic

“I took a year sabbatical between my investment banking career and my CFO career,” she says, taking time off about 15 years ago. “I knew that I wanted to do something different, and it was impossible for me to figure out, when I was on the investment banking treadmill, what that was.” Following the sabbatical, she became the CFO for JP Morgan’s commercial banking business. and she passed her Certified Financial P lanner they would develop. The couple married in She’s encouraged women executives at ( CFP ) exam. She appeared to be on the fast track September 2003 . Medtronic to take time off, adding when “they in corporate America. After their daughter Scarlett was born, they come back to the company, they haven’t missed a Now, she’s focused on supervising the dis- came up with a child care plan that’s still some- beat.” She contends the sabbaticals are important tance learning of her daughters Scarlett, 9 , and what rare. “The decision that we made for him to for people who have long and challenging careers. Noelle, 7 , who are pupils at Garlough Environ- become a stay-at-home dad was one of the easiest mental Magnet School in West St. P aul. Deziel’s decisions we ever made,” Deziel says. “I was loving husband, Tom Stukel, is a technology professional my career and had just landed my first manager TAKING A CAREER for their local school district. role, and I had completed my MBA in recent years. ‘PAUSE’ The couple met when they were undergradu- Tom had been working for a small nonprofit and ate students at the College of St. Benedict and enjoyed his work, too.” L iz Deziel, 41, a former senior vice president at St. John’s U niversity. “I was fiercely independent,” They had the flexibility to live off of Deziel’s U .S. Bank, is currently enjoying a sabbatical that Deziel says, with a laugh. “I definitely wasn’t there U .S. Bank salary, so Stukel stayed home with Scar- she granted herself. searching for a husband, but I was lucky enough to lett and Noelle and did not return to the work- In late October, she posted on L inkedIn: meet him there.” force until December 2019 . “Today was my last day with U .S. Bank. I’m Tom was a peace studies major from the small L iz Deziel’s decision to leave U .S. Bank wasn’t thrilled to share that my next move is to hit pause town of Granite Falls, while L iz, a Burnsville na- made hastily during the pandemic. It had been in on my career and spend time with our kids.” tive, had a self-designed liberal studies major, with the works for a year or so. She had started to feel She noted that over 15 years with U .S. Bank, philosophy and sociology emphasis areas. She also like she wanted to “trade places” with her husband she had moved from an administrative assistant earned a minor in gender and women’s studies. as the at-home parent. to senior vice president, and along the way she Their academic pursuits may have provided “In the earlier years, he was better suited for earned an MBA through evening graduate school an early indicator of the egalitarian relationship that role,” she says. “When the kids were babies

44 TWIN CITIES BUSINESS | APRIL/MAY 2021

38-46FEATWomenInLeadership.indd 7 3/30/21 11:11 AM 45Ad.indd 1 3/26/21 1:05 PM and toddlers, I felt like I had the easier job going to the office. And I liked my work. He handled the Liz Deziel decided to leave exhaustion and the social isolation. He was better a corporate leadership job at getting on the floor and playing with them, and to spend her days with her so I didn’t necessarily wish I was in his shoes when daughters Noelle, left, and Scarlett. the girls were younger.” At the time she left U .S. Bank, Deziel had been working in the bank’s corporate social responsibility area. P reviously, she had been a senior vice president in the bank’s wealth management business. A few years ago, she competed with a male colleague for a market leader position in the Twin Cities. She didn’t get the local job, but was offered market leader positions in two other metro areas in the U nited States. She turned down those opportunities. “Having family here and having been to college here, I feel pretty rooted here and invested in the community,” Deziel says. “I have so much history here and I feel so connected to so many aspects of this community that it wouldn’t be worth it to me to give all of that up for a job.” “I THINK WOMEN WOULD BE MORE INTERESTED IN [SENIOR MANAGEMENT] ROLES IF THEY WERE CONVINCED THAT THE HOURS, Since she left her job, the decks are clear for tions with many women who are reassessing their THE STRESS, Deziel to enjoy spending time with her daughters, work and personal lives, especially in light of the THE DEMANDS, and she’s started to cook and do chores around the pandemic. house that her husband used to do. “I can hang Women have the capability to perform well in AND THE CULTURE out with [ my daughters] on their class breaks, and any C-suite job in major companies, Deziel says, we can play games while they are on a break,” she but adds that some women aren’t going to step WOULD NOT says. “I know they won’t always want to hang out forward to pursue jobs that currently are designed with their mom as much, so I am soaking that up. to be all-consuming and require people to be SUFFOCATE THEIR And I’m also enjoying having more open space in available 24/ 7 on a regular basis. my life.” “I have recalibrated what my goals are, and LIVES OUTSIDE Deziel emphasizes that she is taking a break I think I’ve realized I am far more motivated by from the work world, not leaving it for good. As meaning and fulfillment than I am by money and OF WORK.” a graduate of a women’s college and longtime power and status,” Deziel says. She hasn’t put a supporter of women’s careers, she says she specific timeline on when she’ll reenter the work- —Liz Deziel, former senior “absolutely” believes that more women should force or decided whether she’ll work in the private, vice president, U.S. Bank hold C-suite jobs. public, or nonprofit sector. However, she also urges companies to take a But she’s clear-eyed about her values at home second look at what constitutes success in senior and at work. Deziel says, “I look forward to doing For the first eight months of the pandemic, management roles in their workplaces. more work in the Twin Cities community for a Deziel was the primary parent at home with her “I think women would be more interested in second act after I’ve taken this break, and I am daughters. Deziel did her U .S. Bank work while those roles if they were convinced that the hours, excited to pursue that work feeling recharged.” the girls studied. On some of those days, she says, the stress, the demands, and the culture would not “I felt like I was constantly pushing them off” by suffocate their lives outside of work,” Deziel says. Liz Fedor is the senior editor of Twin Cities encouraging them to keep themselves busy while Since she posted her career “pause” news Business, where she’s been reporting on women’s she took part in work video meetings. on L inkedIn last year, she’s engaged in conversa- leadership issues for several years.

46 TWIN CITIES BUSINESS | APRIL/MAY 2021

38-46FEATWomenInLeadership.indd 8 3/30/21 11:11 AM Proudly serving and supporting women in leadership

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47Ad.indd 1 3/25/21 8:55 AM 48Ad.indd 1 3/25/21 9:01 AM IMPACT

R ecog n i z i n g a d oz en b u s i n es s es a n d VIRTUAL EVENT n on p r oﬁ ts th a t a r e meeti n g my r i a d n eed s to Community Impact Awards h el p cr ea te a mor e eq u i ta b l e T wi n C i ti es . J oi n u s a t n oon on M a y 6 for a v i r tu a l By Tess Allen, Burl Gilyard, Dan Niepow, and Gene Rebeck cel eb r a ti on of TCB’ s ﬁ r s t C ommu n i ty I mp a ct A wa r d wi n n er s a n d a p a n el d i s cu s s i on wi th ex p er ts i n p h i l a n th r op y TCB a n d s oci a l en ter p r i s e. R eg i s ter for fr ee a t N early 200 nominations poured in for ’s inaugural tcbmag.com/event/ci21 Community Impact Awards—a testament to the F E A T U R E D P A N E L I ST S:

depth of initiatives focused on making the Twin Cities Q Tawanna Black, fou n d er / C E O, C en ter for E con omi c I n cl u s i on a more equitable, inclusive place to live and to work. Q Sarah Lutman, P er for mi n g P h i l a n th r op y That spirit of philanthropy is a Minnesota hallmark, from col u mn i s t a n d p r i n ci p a l , 8 B r i d g es W or k s h op corporate foundations to established social service Q R.T. Rybak, p r es i d en t/ C E O, organizations. At a time when needs are mounting and M i n n ea p ol i s F ou n d a ti on

fractures run deep, we’re pleased to highlight the socially G OL D SP ON SOR : driven work of a dozen organizations, from pro sports and Fortune 500s to long-standing nonproﬁ ts and social SI L V E R SP ON SOR : enterprise startups. Over the past year, all proved to be resilient, responsive, and creative as they confronted profound social challenges.

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49-56CommunityImpactAwards.indd 1 3/29/21 3:35 PM Timberwolves and Lynx employees volunteer with Pack the Vote.

CIVIC ENGAGEMENT Minnesota Timberwolves and Lynx

s the pandemic forced the NBA to and wearing masks. The teams held a Red our platform to talk about social justice,” A suspend its season last year, the Cross blood drive at Target Center. says Casson. Minnesota Timberwolves and Lynx each Karl-Anthony Towns donated In June 2020 the teams partnered with started to assess what the teams could do $100,000 to Mayo Clinic to support more New York-based RISE to develop programs for their community. In the process, both Covid testing. Both his parents had Covid, to fight racial discrimination, improve race arguably have become a social service and his mother, Jackie, died of it in April relations and champion justice. In August, organization. 2020. the teams launched “Voices,” a YouTube CEO Ethan Casson says that everyone “Certainly, Karl stepped up,” says series to feature players talking about in the operation, from staff to players, felt Casson. “That became a very personal social justice issues, racism, and more. “like they had a responsibility to do their mission to him.” Amid the pandemic and the after- part to help.” Maybe the biggest surprise was the math of Floyd’s killing, there was also an Tallying a list of all of the teams’ com- Timberwolves’ unlikely contribution to election. The teams suited up for that one, munity efforts over the last year could fill a medicine led by Dr. Roddy Sikka, vice too, creating Pack the Vote, an initiative to short book. For starters, owner Glen Taylor president of basketball performance and increase voter registration, with a primary put up $1 million as a safety-net relief fund technology. focus on people in under-resourced neigh- for Target Center’s part-time workers who “He’s led the research alongside Yale borhoods. suddenly had no games to work. University to create a quicker test for the Casson says that the teams’ efforts to Then the teams started donating public, called SalivaDirect, which to date help in the short term are leading to long- thousands of pounds of food to com- has now served more than 6 million tests term changes. munity organizations and working with across the country,” Casson says. “It’s “We serve the community in which the Prairie Island Indian Community to something that we’ve been using as an we play … we’ve learned things along the donate care packages to tribal elders. They organization.” way that we’re not doing enough of,” collaborated with the governor’s office The killing of George Floyd in May Casson says. “[Some of] these will be and the Minnesota Department of Health 2020 was another call to action for the permanent initiatives and platforms that on public service announcements to help teams to connect with their community. will live within our organization from this get the word out about isolating at home “We had a responsibility again to use point forward.”

50 TWIN CITIES BUSINESS | APRIL/MAY 2021

49-56CommunityImpactAwards.indd 2 3/29/21 3:35 PM LONG-TERM IMPACT Coalition of Asian American Leaders

o Thao-Urabe envisions a better Minnesota for everyone. access immigration-related services. COMMUNITY B That’s why, in 2013, she joined forces with two other local CAAL also focuses much of its energy on supporting often- IMPACT AWARDS leaders to lay the groundwork for what would become the Coali- overlooked businesses, such as nail salons and ethnic grocery tion of Asian American Leaders. stores—the small, service-oriented businesses that needed quick “There was a sense that the Asian American community ﬁ nancial assistance when the pandemic hit. felt invisible and excluded from a lot of different efforts,” says “We really pushed for more relief grants and not loans,” Thao-Urabe, the group’s executive and network director. “Those Thao-Urabe says. “One of the things we heard was these were conversations really prompted the founding of the coalition.” such small businesses that they couldn’t afford to take on more St. Paul-based CAAL plays an important role in stemming loans because they weren’t sure they would recover.” a tide of anti-Asian sentiment across the state. The coalition Bilal Alkatout, senior pro- worked with the Minnesota Department of Justice to set up a gram manager at the Blue Cross hotline for people who have witnessed or experienced incidents Blue Shield of Minnesota Founda- of discrimination during the pandemic. In 2020, the coalition tion, which has provided funding raised more than $400,000 to support both Asian Minnesotan for some of CAAL’s anti-racism organizations and BIPOC leaders. As of early March, CAAL had initiatives, applauds the organi- distributed $240,000 of that to 19 projects. zation’s hands-on efforts. The Thao-Urabe emphasizes that Asian Americans in Minnesota coalition’s overall approach to comprise a diverse set of more than 40 different ethnic groups. community service, he says, is “We can’t assume that just because we say ‘Asian American’ “grounded in the belief that our that everyone is served,” Thao-Urabe says. “There are language democracy thrives when people and cultural considerations.” Roughly 60 percent of Minnesota’s are visible, included, and actively MN Rep. Rena Moran Asian American population are foreign-born, she says. In Febru- engaged in shaping decisions (left) with CAAL’s MK Nguyen and her son. ary, CAAL launched an online map designed to help communities that impact their lives.”

CORPORATE LEADERSHIP new company initiatives, which were ing employee resource networks, Both the teams and this new created by listening closely to these which are employee-led groups that organizational structure will help 3M 3M Foundation communities, then collaborating with champion inclusion and diversity, amplify efforts to drive equity in its them to develop solutions. support leadership development, workplaces, its business practices, n 2020, Maplewood-based 3M and promote collaboration across and the communities in which it has I Co. implemented a multifaceted Social Justice Fund cultures, lifestyles, abilities, and gen- a presence. approach to address systemic chal- In the wake of George Floyd’s death ders. This team ultimately selected lenges faced by people from his- in May 2020, the 3M Foundation four St. Paul organizations to receive Creating opportunity torically marginalized populations, established a Social Justice Fund of the grant funds: the NAACP Legal In September, 3M Chairman and focusing particularly on the Twin $1 million. In establishing the fund, Defense and Education Fund, the CEO Mike Roman announced a $50 Cities’ Black and Hispanic communi- the foundation worked with a team Neighborhood Justice Center, the million philanthropic commitment ties. That approach inspired several of diverse 3M stakeholders, includ- Penumbra Center for Racial Healing, over the next fi ve years aimed at and YWCA St. Paul. addressing racial opportunity gaps through workforce development Major hires initiatives. 3M assembled a group This past July, 3M hired Garfi eld of diverse leaders and organizers Bowen as its fi rst director of social from the education, government, justice strategy and initiatives. Since and nonprofi t sectors to provide then, 3M has deployed nine project guidance. The coalition is helping 3M teams, comprising more than 90 identify partnerships and opportu- individuals, to work on aspects of nities to advance social justice and the company’s social justice agenda. racial equity, focusing specifi cally on In December, 3M named James STEM and skilled trades. Momon its fi rst chief equity offi cer, “Progress requires us all to to oversee the equity and com- stand up as advocates for racial munity team. The new corporate inclusion and social justice,” Roman

3M employees leadership structure brings together says of his company’s equity efforts. help with a landscaping three 3M teams—diversity, equity “3M will bring our science, our in- service project at and inclusion; 3Mgives; and social novation, our volunteerism, and our Gordon Parks High School. justice—to address social issues. business rigor to these challenges.”

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49-56CommunityImpactAwards.indd 3 3/29/21 3:35 PM DIVERSITY IN ENTREPRENEURSHIP The key, Jackson says, is delivering the audience. “Because we do our branding so well, we’ve made tech ap- Black Tech Talent pealing to Black people,” Jackson says. “So now we have more people, especially during the pandemic, who are like, ‘Hey, I COMMUNITY common excuse for lack of staff diversity: “We couldn’t fi nd would love to learn how to get into this.’ Because even at entry IMPACT A the talent.” Diversity experts say it’s up to businesses to level, tech pays better than pretty much anything else.” AWARDS broaden their search, and that’s where Minneapolis entrepreneur Growing the talent pool starts with education. “We get Mike Jackson saw opportunity. Determined to grow the Black people trained,” Jackson says. On the fl ip side, Black Tech Talent tech talent pool, Jackson launched Black Tech Talent in summer is also partnering with schools and other training programs to 2020 as a recruiting tool and training resource. The online plat- place qualifi ed students in jobs that pay well. form spotlights job and education opportunities. In its fi rst nine Jackson plans to launch Black Tech Talent’s fi rst Black Tech months, Black Tech Talent built a community of more than 2,000 Talent Summit this summer and is developing an app to help individuals and 20 corporate clients including Target, HealthPart- match employers and job seekers. He says that the app will “re- ners, Code42, Software for Good, duce the fl uff” of traditional matching platforms, pairing jobs and and Tech Dump. candidates based on three to fi ve core qualifi cations, like the lan- Black Tech Talent offers a job guages a candidate codes in and years of experience. “It would board, recruiting services, and cultur- be nice for employers to easily see who’s a 90 percent match ally specifi c online content, including and who’s only a 60 percent match,” Jackson says. “And also, a podcast called BTT Discussions, because we’re focused on Black technologists, the app will help networking and educational events demystify the industry and opportunities and beat out the narra- (virtual for now), courses, and boot- tive that there are not any Black people in tech or that they’re not camps with partners. It’s a for-profi t good at tech.” company, which makes its money on HIs goals are lofty: Over the next fi ve years, Jackson hopes Mike Jackson job board services and referral fees. to place 15,000 Black people in tech jobs.

COMMUNITY BUILDING help identify residents’ most pressing health needs. M Health Fairview’s East Side M Health Fairview chose this neighborhood because Health Well-Being Collaborative of the signifi cant con- centrations of racialized n St. Paul’s East Side, a time cultural brokers served the poverty and because it was O group of “cultural bro- East Side’s Indigenous, Hispanic/ medically underserved. A cultural kers” have been navigating the Latino, Hmong, African Ameri- To better understand broker with M Health Fairview neighborhood’s diverse cultural can, and Karen communities. what residents needed, communities through the twists, Minneapolis-based M Health M Health Fairview facili- turns, narrows, and rapids of the Fairview directed the launch of tated conversations in partnership Health and Well-Being Collabora- Covid-19 pandemic. These brokers the program. “M Health Fairview with 40 organizations, includ- tive, which comprises nearly two understand healing and health is rooted in the communities that ing neighborhood associations, dozen organizations. Once estab- from the perspective of each of we serve across Minnesota,” says nonprofi ts, faith communities, lished, the collaborative developed those communities, and that of John Swanholm, vice president of and small businesses, and more the cultural broker program. Since the mainstream culture. In the community advancement. “We than 50 community members. then, the brokers have been help- past year, their help has been more have a long history and strong Residents and advocates attending ing community members navigate crucial than ever. commitment to the partnerships these conversations overwhelm- school, health, and other systems During the pandemic, we’ve formed with local nonprof- ingly noted that there were signifi - so they can better advocate for the cultural brokers have been its, community organizations, and cant barriers to culturally respon- themselves. providing resources that debunk businesses, and this is especially sive mental health services. These The complexity of the Co- vaccine myths, as well as connect- true on the East Side of St. Paul.” barriers disproportionately affect vid-19 outbreak has shown how ing individuals to unemployment In 2020, the cultural brokers people of color, Indigenous com- essential the cultural brokers’ resources, assisting people with served more than 1,573 East Side munities, refugees, immigrants, work is to the East Side’s diverse resource navigation and advocacy, residents. and low-income individuals. communities. Those communities and providing follow-up with The program was created To address these and other will continue to rely on them as Covid-19 patients after they’re in 2016 when M Health Fairview barriers, M Health Fairview con- the pandemic lifts, and new health discharged from the hospital. Full- reached out to the East Side to vened and funded the East Side and healing challenges arise.

52 TWIN CITIES BUSINESS | APRIL/MAY 2021

49-56CommunityImpactAwards.indd 4 3/29/21 3:37 PM CRISIS RESPONSE L ak e S treet C ouncil

eorge Floyd’s killing in May 2020 kicked off several G nights of protests, riots, and fires in south Minneapo- lis. Many small businesses in the Lake Street corridor were destroyed or severely damaged. In the wake of the chaos, the Lake Street Council set up the We Love Lake Street Recovery Fund to bring in a little money to help businesses in the area. The council quickly raised a lot more than it ever envi- sioned; in just the first few weeks, it had raised more than $6 million. As of early March, the tally grew to approximately $12 million, which includes $1 million from Minnetonka-based UnitedHealth Group. The council recently hired its first development director. The group is still accepting donations.

At a January 2020 event, “We were flooded,” says Allison Sharkey, Lake Street Tawanna Black (center) and Council’s executive director. “I’ve never seen anything like this community leaders discuss where people jumped in so quickly.” the racial wealth gap. The organization has now received more than 80,000 individual donations. While donors were largely from Minnesota, the council also saw notable contributions from out of state. ADVANCING RACIAL JUSTICE “It just made me realize how many people have a strong attachment to this place,” Sharkey says. Center for Economic Inclusion With guidance from an independent oversight committee, the council has so far awarded roughly $7 million to approxi- he C enter for E conomic I nclu- sions. T he center also advised those mately 350 businesses. These are small, locally owned busi- T sion was founded less than five organiz ations to “ strengthen the racial nesses like Admas Travel, which was destroyed by fire during years ago, but it’ s already leaving a big eq uity and efficacy of their invest- the civil unrest, and Diamond Home Health Care, which lost its imprint on some of the region’ s big- ments,” leading to the deployment computer servers. gest employers. B ased in S t. Paul, the of more than $ 1 0 0 million in capital Unlike Covid emergency funds that were aimed at replac- center work s to boost inclusivity and toward “ antiracism and systemic ing lost income and keeping people employed, the Lake Street racial eq uity in the T win C ities. I t oper- change” in the T win C ities, B lack says. Recovery Fund focuses on rebuilding efforts—construction ates on a simple but perhaps over- “ T he center both challenges repairs, and replacing inventory and lost equipment. look ed premise: A n inclusive economy and supports leaders and organiz a- Sharkey notes that a long list of local companies has is good for business. A s founder and tions in dismantling policies, systems, stepped up to help. U.S. Bank donated one of its sites that was C E O T awanna B lack puts it, “ I t’ s not practices, attitudes, and behaviors heavily damaged to be used for neighborhood redevelopment. j ust about the moral imperative … that uphold racism and economic Construction giant M.A. Mortenson Co. donated the time of T eams that are all the same don’ t drive ex clusion by intentionally establishing several full-time staffers. “They have done an amazing job,” the same level of business results.” new systems that foster inclusion,” says Sharkey. I t’ s not j ust about hiring more D amaris H ollingsworth, principal with The council is now expanding its goals to help business diverse staff; a big part of B lack ’ s D esign by Melo, wrote in her nomina- owners acquire and redevelop properties in the corridor. There mission is helping regional employers tion of the center for a C ommunity are no quick-fix solutions for rebuilding businesses, but Shar- dismantle institutional racism. S he’ s I mpact A ward. key says that the Lake Street Council is in it for the long haul. work ed with F ortune 5 0 0 s lik e D espite a year of strong prog- “This is going to be a five- to 10-year process.” U .S . B ancorp, as well as public sector ress, the center’ s work is far from entities including R amsey C ounty. complete. “ T he data show that Minne- “ W e work inside businesses every day, sota is going back ward as it relates to helping them understand the things wage eq uity. T hat means we’ re hiring that get in the way of eq uity and inclu- people of color and white people to sion,” B lack says. do the same work , but we’ re paying T he center’ s mission became them differently,” B lack says. W hat’ s especially relevant in the aftermath of the solution? C ontinuing to promote G eorge F loyd’ s death. Many business anti- racist policies among maj or leaders want to help effect change, employers, for one. G oing forward, but weren’ t sure where to start. A fter the center is also look ing to increase Getachew Teklu’s F loyd’ s death, the center, which em- employment for B lack and I ndigenous Admas Travel was destroyed in Lake ploys 2 5 and had an annual budget people in the T win C ities by 1 0 percent Street riots. of $ 4 .5 million in 2 0 2 0 , advised more by 2 0 2 5 . B lack emphasiz es that those than 3 0 companies, foundations, and j obs will provide “ family- sustaining

T O N Ylocal N E L S O Ngovernments ( L A K E S T R E E T C O U on N C I Lk ) ey policy deci- wages” for residents.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 53

49-56CommunityImpactAwards.indd 5 3/29/21 3:38 PM The Chowgirls team

Minneapolis-based Chowgirls Cater- distribution partners like Minneapo- ing, has long used her industry con- lis-based Loaves & Fishes distribute nections and talent to help people the meals to the people who need through Second Harvest Heartland’s them. Today, MCK has built a net- MealConnect program, which work of more than 100 partners to ensures that surplus food from share its mission. As of March, it had commercial kitchens, restaurants, nine active kitchens. event centers, and caterers goes Perhaps most impressive is to food-insecure neighbors. But the speed with which MCK came MealConnect only gathered leftover together in a time of crisis. “We were prepared meals and ingredients, and definitely building the plane as we the volume was inconsistent—some- were flying it, but also fundraising times the program received a lot of for the parts of the plane,” says Em- donations, other days, only a few. ily Paul, executive director. Running MCK addressed the growing need at its current capacity, MCK requires for meals during the pandemic. about $6 million in funding a year. INNOVATIONS IN PHILANTHROPY Primarily funded by Second Paul says that pre-pandemic, Harvest Heartland, MCK creates and there were a lot of ad hoc programs Minnesota Central Kitchen distributes prepared meals through- like Loaves & Fishes’ community out the community. Food service, meals program. But most required hen catering requests came Kitchen (MCK). In its first year, MCK restaurant, and catering partners people to gather in a central loca- W to an abrupt halt in March had employed 179 food service like Chowgirls provide MCK with tion. Meanwhile, Second Harvest 2020, chef Liz Mullen’s instinct to workers, salvaged more than 1.3 kitchen space, employees, supplies, Heartland was focused on a more feed the community grew stronger million pounds of food, and served and ingredients to supplement the traditional food bank model, in than ever. Within days, she and other more than 1.3 million prepared meals donations from the MealConnect which it distributed ingredients food industry pros and nonprofit to people in need. platform and to prepare meals. Then rather than prepared meals. While

partners formed Minnesota Central Mullen, executive chef of Second Harvest Heartland and other this model remains the core of the CENTRAL KITCHEN) (MINNESOTA CARINA LOFGREN

SOCIAL ENTERPRISE of that donation of a physical Hippy Feet needs the good.” staffing: Sales for the direct-to- Hippy Feet So in 2018, Hippy Feet, consumer brand spiked last year a certified B Corp., launched as consumers turned to online hen Michael Mader and the Pop-Up Employment pro- shopping during the pandemic W Sam Harper founded gram. The company would bring and in response to apparel Minneapolis-based sock brand its socks and packaging sup- extensions Hippy Feet added Hippy Feet in 2016, they fol- plies to local youth shelters and to its line. In 2020, Hippy Feet’s lowed the one-for-one busi- nonprofits where it would pay revenue increased 157 percent ness model made popular by individuals to help package the over the previous year. other programs and jobs. Toms shoes. For each pair of goods. “It was a truly barrier- In June, Hippy Feet began In less than three years, socks sold, Hippy Feet donated free employment opportunity. offering regular employment Hippy Feet has provided jobs for another pair to a local individual People didn’t have to worry to small groups of youths and more than 130 homeless youths experiencing homelessness. about finding us, there was no young adults experiencing and young adults, generating “We donated over 20,000 application, and we didn’t care homelessness to pack and fulfill more than 4,200 hours of pairs of socks under that model, if they had experience,” Mader orders. Now, they’re working on employment. but Sam and I quickly realized says. employee retention. “We’re now “Our current program works that we could be doing a whole It worked well until Covid-19 trying to keep our employees for so well because it is built so that lot more,” Mader says. “We prevented Hippy Feet from an extended period of time to all of our employees are truly found ourselves giving socks visiting shelters and nonprofits. provide them with more consis- integral to our internal opera- to a lot of the same people “As social distancing practices tent, stable forms of income and tions,” Mader says. “That’s key. repeatedly, and while they were became a little more liberal, we access to our network,” Mader Our products can’t exist without very grateful for the socks, they began to host all of our employ- says. Once an employee is ready our program, and our program were still homeless, and their life ees back at our office,” Mader for more responsibility, the can’t exist without our hadn’t actually improved outside says. company helps connect them to products.”

54 TWIN CITIES BUSINESS | APRIL/MAY 2021

49-56CommunityImpactAwards.indd 6 3/29/21 3:38 PM organization, the pandemic led them to expand their offerings. “A box of ingredients or a trip to the food shelf, for many people, is the COMMUNITY perfect answer to their food insecu- IMPACT AWARDS rity needs,” Paul says, “but it’s not the answer for everyone, like people who are barriered by transportation, by age or occupational ability, by access to housing and shelter to prepare that meal. We weren’t necessarily plugging into all those folks’ needs pre-Covid, so MCK is the perfect storm.” Both Second Harvest Heartland and Chowgirls want to keep MCK running beyond the pandemic. “This has changed how I feel about my job,” Mullen says. “It has changed how everyone here comes to work. We don’t want to stop doing this work. As [in-person] catering kind of comes back ... we want to ﬁ nd a way to continue to take care of our clients but also ... take care of our community because, really, that is Workers take most important right now.” inventory at Bridging.

HOUSING AND SUSTAINABILITY

COMMUNITY IMPACT Bridging AWARDS ADVISORY ou could call Bloomington-based Bridg- from corporate or retail sources. In an average COMMITTEE Y ing a bank—a furniture bank. For more year they see about 80,000 hours of contributed Special thanks to the experts who than three decades the organization has been time from volunteers. “Our operation is very provided insight and advice that helped TCB’s editorial staff select focused on a single mission: providing house- volunteer dependent,” Wilkening says. the 2021 Community Impact hold essentials and furnishings to individuals The nonproﬁ t partners with nearly 200 Award winners: and families settling into new homes. social service agencies who refer clients to the Q Sarah Lutman, Bridging was founded in 1987 by Fran group. Bridging owns two warehouses—one Performing Philanthropy Heitzman, a retired entrepreneur and business in Bloomington, one in Roseville—that hold columnist and principal, 8 Bridges Workshop owner, who was serving as custodian of the available housewares and furniture. Bridging then-new Pax Christi Church in Eden Prairie. has always paired clients with personal shop- Q Abdul Omari, founder/CEO, AMO Enterprise A woman brought in a piece of furniture to do- pers to select goods at their warehouses, but nate. Heitzman said that the church didn’t need in the age of Covid, personal shopping is Q Jennifer Reedstrom Bishop, partner, Lathrop GPM it, but that he could ﬁ nd a home for the item. now virtual. “Thirty years ago, I gave away one crib, “We had always intended to make that a Q Elaine Wyatt, consultant and former and look what happened,” recalled Heitzman in tool in our toolbox, but Covid forced us to CEO of WomenVenture a 2018 video. create that,” Wilkening says. His idea was to build a “bridge” connect- More than 60 percent of the families ing people who had furniture to give away with connected to Bridging are transitioning out of people who needed the goods. Heitzman died homelessness. Between 80 to 90 percent have an in January 2020 at 94. annual income of less than $20,000. About 80 Executive director Mark Wilkening says percent are members of BIPOC communities. that the group’s annual budget today is about “Our demand has remained steady and $3.5 million but is more like $10 million when constant through this whole pandemic,” says in-kind contributions are counted. About 75 Wilkening. He expects rising demand as people percent of the materials that Bridging gives will start moving and relocating once bans on away are donated by individuals; the rest comes evictions are lifted. Bridging will be ready.

APRIL/MAY 2021 | TWIN CITIES BUSINESS 55

49-56CommunityImpactAwards.indd 7 3/29/21 3:38 PM EDUCATION ServeMinnesota

COMMUNITY erveMinnesota might be the nonprofi t accelerate academic achievement, A ServeMinnesota IMPACT “S world’ s best- k ept secret,” says K ate especially with students who are teacher and students AWARDS K elly, Minnesota regional president for PN C facing opportunity and achievement B ank . A ccording to K elly, who has served gaps. B oth programs are being replicated numeracy pilot in the 2 0 1 8 – 1 9 school year on the S erveMinnesota board since 2 0 0 4 in 1 4 other states and W ashington, D .C . to complement preschool math instruction. ( she’ s currently board chair) , it shouldn’ t H ere’ s why: O utside studies have W ith support from the PN C F oundation, stay a secret. I t’ s certainly not a secret to shown that R eading C orps improves early S erveMinnesota developed materials and educators nationwide. reading sk ills for struggling students, the implementation procedures to improve S erveMinnesota is the state’ s hub for eq uivalent of a half- year to almost a full children’ s early math sk ills before starting A meriC orps, the national service program year of ex tra school. More than 4 0 ,0 0 0 k indergarten. T he early numeracy sk ills that places volunteers in organiz ations that students served by the R eading C orps program is now a part of every R eading address issues in education, the environ- program have demonstrated reading C orps pre- k indergarten classroom ment, addiction recovery, and affordable profi ciency on Minnesota’ s state test in the nationally. housing. Most of the more than 2 ,0 0 0 past 1 0 years. A nd Math C orps students are “ S erveMinnesota is entrusted with A meriC orps members in Minnesota serve twice as lik ely to achieve math fact fl uency stewarding the vision that A meriC orps ser- their communities full time in schools or and meet end- of- year benchmark s. vice can be a tool for states and communi- community organiz ations. B y leveraging S erveMinnesota continues to inno- ties to solve unsolved problems,” S erveMin- private, federal, and state funds, A meri- vate. W hen research uncovered a strong nesota C E O A udrey S uk er says. “ O ur work C orps programs run in 7 7 of Minnesota’ s 8 7 connection between sk ills measured in demonstrates how this happens by deploy- counties, where people age 1 8 to 8 0 dedi- preschool and math achievement at age ing A meriC orps members to build a bridge cate a year to serve their communities. 1 5 , the organiz ation saw an opportunity between research and practice. W e’ re now B ut S erveMinnesota’ s infl uence to build on the current R eading C orps ex panding this strategy beyond educa- ex tends far beyond its home state. I t has model to support broader k indergarten tion to include addressing climate change, received national recognition for its literacy readiness sk ills. Partnering with schools, recovery from substance use disorders, and math programs. I ts R eading C orps and child care centers, and math education housing instability, and the needs of older

Math C orps programs have been shown to ex perts, S erveMinnesota launched an early adults.” S C O T T S T R E B L E ( S E R V E MI N N E S O T A )

YOUTH INITIATIVE wor k ed wi th a g r ou p of mos tl y E a ch y ea r , Y ou th p r i s e a wa r d s A n oth er Y ou th p r i s e i n i ti a ti v e, l ow- i n come B I P OC h i g h s ch ool $ 4 mi l l i on to $ 8 mi l l i on to or g a - th e M i n n es ota A fter s ch ool A d - Y outhprise s tu d en ts to g et th a t comp en s a - n i z a ti on s s er v i n g M i n n es ota ’ s v a n ce ( M A A ) p r og r a m a l s o s ca l ed ti on r ei n s ta ted . T o r ep r es en t I n d i g en ou s , l ow- i n come, a n d u p to h el p l ow- i n come s tu d en ts a s t y ea r , wi th th e p a n d emi c th em, Y ou th p r i s e r eta i n ed th e r a ci a l l y d i v er s e y ou th . I t s u p p or ts i n 2 1 3 ci ti es a cr os s M i n n es ota . L r a g i n g , th ou s a n d s of h i g h p r o b on o s er v i ces of G r eg or y p r og r a ms a n d i n i ti a ti v es th a t D es i g n ed to h el p th em a ffor d s ch ool s tu d en ts fou n d th em- M er z , a p a r tn er wi th h i g h - p r ofi l e b u i l d wor k for ce s k i l l s , p r omote a fter - s ch ool p r og r a mmi n g , M A A s el v es ou t of wor k , a n d wi th ou t M i n n ea p ol i s - b a s ed l a w fi r m L a th - y ou th en tr ep r en eu r s h i p , a n d ex - p i v oted d u r i n g th e p a n d emi c to u n emp l oy men t comp en s a ti on . r op G P M . p os e y ou th to ca r eer p a th wa y s . he lp dist r ibut e C hr omebook s F or l ow- i n come s tu d en ts , th i s T h e a r g u men ts M er z fi le d W h en th e p a n d emi c h i t, for dist a nc e le a r ning , wi th no wa s p oten ti a l l y d ev a s ta ti n g , for p er s u a d ed th e C ou r t of A p p ea l s Y ou th p r i s e wen t i n to ev en h i g h er ou t- of- p ock et cos t to fa mi l i es . I t b oth th em a n d th ei r fa mi l i es . to r u l e u n a n i mou s l y i n s u p p or t g ea r . I t s ecu r ed emer g en cy fu n d - a l s o fu n d ed tu tor i n g a n d oth er M i n n ea p ol i s - b a s ed Y ou th - of th e Y ou th p r i s e ca s e. I n fa ct, i n g to d i s tr i b u te fi v e r ou n d s of a ca d emi c op p or tu n i ti es to mi ti - p r i s e g ot to wor k . W i th th e th e cou r t i s s u ed i ts d eci s i on th e C ov i d - 1 9 E mer g en cy R es p on s e g a te l ea r n i n g l os s a fter s ch ool s s u p p or t of M i n n es ota a ttor n ey s a me d a y th a t M er z p r es en ted h i s g r a n ts tota l i n g ov er $ 1 mi l l i on st op p ed i n - p er s on cl a ss es . g en er a l K ei th E l l i s on , Y ou th p r i s e a r g u men ts , a wa r d i n g th e mu ch - to mor e th a n 8 5 g r a n tees . On e Y ou th p r i s e’ s b oa r d r efl ects n eed ed comp en s a ti on . Y ou th p r i s e p r og r a m, th e N u tr i ti on th e commu n i ti es th a t a r e i ts fo- F or Y ou th p r i s e, wh os e s er - T ea m, p r ov i d es mea l s to fa mi l i es cu s . T h e ma j or i ty of i ts d i r ector s v i ces a r e a s d i v er s e a s th e y ou n g i n n eed . L a s t y ea r , wh en th e v i r u s a r e p eop l e of col or , a n d 5 0 p er - p eop l e wi th wh om i t wor k s , th a t s h u t d own i ts u s u a l mea l s i te s er - cen t of b oa r d s l ots a r e r es er v ed wa s j u s t on e of th e mor e n ota b l e v i ces , the N ut r i tion T ea m pi v oted for y ou th s a g es 1 6 – 2 5 . T h e b oa r d s u cces s s tor i es i n a r ema r k a b l y to p i ck - u p , s er v i n g 2 mi l l i on mea l s a n d b oa r d - l ev el commi ttees a r e b u s y y ea r . i n 2 0 2 0 . co- ch a i r ed b y y ou th a n d a d u l ts .

Youthprise president Wokie Weah and vice president Marcus Pope

56 TWIN CITIES BUSINESS | APRIL/MAY 2021

49-56CommunityImpactAwards.indd 8 3/29/21 3:39 PM PAID ADVERTISING TCB PEOPLE & CO New Hires, Promotions, Accolades, News, Press Releases, Awards

ÆĖĦ Ħ ħĦĻÆůŪūŅŬŬůŅŲūŪŭĦ

NEW HIRE | TECHNOLOGY PROMOTION | HEALTHCARE Robert Anthony Jim McAlpine VP OF CLIENT OPERATIONS | ASCENTIS É ÉÉ ÈÉŅÉ ÅÅ Å ÅÈÅÉ Åħ GENERAL COUNSEL | ECUMEN Éħİ Ĕ ħ ÅĦÅ ħ Å ħħ ħ ħ ħ Ħıİ ħĲ ħ Ħ É ÉĦıÅħ İ ĦĲ BOARD APPOINTMENT | CONSTRUCTION Brad Hendrickson AWARD | LEGAL É ÅÉ ÈÉħ ÈÉĽÅÈ ĖÉÉ Henson Efron CONSTRUCTION É Å Ė Å ŎÅŏħ Æ Ņ ħ Æ ħ Ħ Æ È ħ ūũūũŅ Ĕ ħĔħ ħħħħ ÉĦ ĦÆ Å Ťůħ ŬũƍĦ É Ħ Ņ İ PROMOTION | TRANSPORTATION ħ Kirk Lewis ĦÆ ÉÉ É ÉÉ ÈÉĽ ŅÅÉÉÉ ÉİħĦÅ Ņ ÆĦ É Center, a division of Interstate ŬũĦ ħ Ħ İ HEALTHCARE É Ħ BOARD APPOINTMENT | ŅĦ Fairview Health Services Ħ Ħ ħ Æ ÈĨ ħ ħŮŬŪūĦ Ĕ ĩ ħ NEW HIRE | TRANSPORTATION ĔÉĩÈ ħ ĦĦħ Samantha Rains Ĕ Å MARKETING AND PROGRAM LEAD | INTERSTATE COMPANIES, INC. ŎÅŏĩ Samantha Rains has joined ħĦÈĦħħ Ĕ Ħı at Interstate Companies, ħ Ħ È ħħ İ Ħ Æ ÈħĲ Æ È ħ Ħı ħŅ ĕ Ħ Ŭŭħũũũ ħ ħŮŬ Ņ ĦĲÅ Ūū Ħ Æ Ħ

57Ad.indd 1 3/26/21 1:08 PM NOTABLE LEADERS IN FINANCE

Best-in-class executives DAVE BODEN MARY BOGIE President & C E O , A cting regional H iway C redit U nion administrator & chief fi nancial From credit unions and banks to governmental agencies, law S ince becoming offi cer, Metropolitan C E O in 2 0 1 3 , D ave C ouncil fi rms, and nonprofi ts, our 3 2 Notable L eaders in Finance are B oden and his team have grown S t. Paul- based H iway from D uring Mary B ogie’ s 1 0 - year responsible for making daily high-stakes economic and fi scal $ 8 8 0 million to $ 1 .5 billion in tenure as C F O , credit rating com- decisions for their organizations. In the last year, they’ve also assets, mak ing it Minnesota’ s fi fth- panies Moody’ s I nvestor S ervice largest credit union. and S & P G lobal R atings have con- been tasked with steering their companies through an econom- sistently given the Metropolitan U nder B oden, H iway has been a C ouncil their highest bond ratings. ic recession caused by unprecedented circumstances. They’re a progressive community leader, T his has resulted in reduced bright bunch, always ready to problem-solve on a dime. implementing a $ 1 5 minimum interest costs on bonds sold to wage and launching a 1 2 - week fi nance capital proj ects. paid parental and medical leave program, among other industry- U nder B ogie’ s leadership, the METHODOLOGY: T he individuals featured did not pay to be included. leading initiatives. H e has also council, whose headq uarters T heir profi les were drawn from nomination materials. T his list is not established credit union branches are in S t. Paul, adopted a 2 0 2 1 comprehensive. I t includes only people who were nominated and accepted in four S t. Paul high schools that budget in D ecember that k ept after editorial review. T o q ualify for this list, individuals must be serving in a offer opportunities for students to the agency’ s tax levy fl at. A chiev- C - suite or senior- level fi nance role in Minnesota, have at least fi ve years of learn about fi nancial services and ing a balanced budget despite ex perience in fi nance, and have shown the ability to create signifi cant, credit responsibility. T he branches decreased transit ridership was positive, and measurable results in their fi eld. provide j obs to inner city accomplished with the help of students, who gain invaluable federal relief and careful use ex perience and responsibility. of reserves.

58 TWIN CITIES BUSINESS | APRIL/MAY 2021

58-74Notables.indd 1 3/29/21 11:24 AM Congratulations, Mary Jayne Crocker & Nick Place! 2021 Notable Leaders in Finance Twin Cities Business

Bridgewater Bank is honored to congratulate not one—but two— of our leaders for their recognition as Twin Cities Business 2021 Notable Leaders in Finance.

Mary Jayne Crocker and Nick Place, your unwavering dedication and roles in the bank’s story of growth are admired by the Bridgewater team and beyond.

We thank you for guiding the Finest Entrepreneurial Bank in the Twin Cities!

ker esident J2FHU

59Ad.indd 1 3/25/21 9:01 AM NOTABLE LEADERS IN FINANCE

CHASE BRAKKE KIM BROWN RICHARD S. TOM COLER V ice president President, J N B A BROWN V ice president of of disability F inancial A dvisors C hairman & C E O , fi nance, health, insurance and J N B A F inancial hygiene, and property casualty W hen the pandem- A dvisors consumables, operations, ic forced B loom- H .B . F uller N orth S tar R esource G roup ington- based J N B A F inancial B loomington- based J N B A A dvisors to change how it oper- F inancial A dvisors’ chairman and I n 2 0 1 9 , T om C oler was named C hase B rak k e j oined Minneapolis- ates, K im B rown’ s fi rst step was to C E O since 1 9 9 6 , R ichard B rown is to the newly created role of vice based fi nancial services fi rm N orth shift to a work - from- home model consistently rank ed as one of Min- president of fi nance for the health, S tar R esource G roup as a fi nancial for its 2 6 team members. S he and nesota’ s top fi nancial advisors; in hygiene, and consumables ( H H C ) advisor in 20 0 8 . S ince then, he her fi rm were prepared, hav- 2 0 2 0 , he was named to segment of S t. Paul- based H .B . has tak en charge of two of N orth ing previously invested in cloud B arron’ s list of the T op 1 0 0 I nde- F uller, part of a reorganiz ation S tar’ s largest divisions, which have software and remote- security pendent F inancial A dvisors for designed to drive growth and grown ex ponentially under his technology. S he also maintained the six th consecutive year. U nder effi ciency. C oler built a new global leadership. team connection and engagement his leadership, J N B A F inancial has fi nance team to support the H H C by hosting virtual events lik e yoga grown from managing $ 9 0 million segment, which includes 2 ,0 0 0 - I n 2 0 1 0 , B rak k e launched the and games. B rown also work ed in client assets to advising on plus employees and 3 3 manufac- disability insurance division, which to reassure the fi rm’ s clients $ 1 billion. turing locations and generated accounted for 20 .5 percent of and inspire her team to connect $ 1 .3 billion in revenue in 2 0 1 9 . N orth S tar’ s revenue in 2 0 2 0 . H e with those clients more often via I n 2 0 2 0 , B rown and his wife, J N B A later took the reins at N orth S tar’ s phone or video call. F inancial president Ki m B rown, W hen C ovid- 1 9 hit, C oler and property and casualty division. I n q uick ly moved to communicate other company leaders q uick ly the last year, that division doubled L ast year, B rown launched a new with clients more freq uently. H e adapted. D espite the challeng- its number of clients, with over podcast, which delivers freq uent also ensured that the fi rm contin- ing mark et environment, the H H C $ 2 million in premiums as of in- depth information about the ued with its longstanding process segment recorded strong organic O ctober 20 20 . ever- changing mark ets and of reviewing all client portfolios growth and double- digit profi t fi nancial life- planning topics. every 1 0 business days. improvement.

MARY JAYNE PATRICIA “PAT” DIONNE GUMBS FRANK CROCKER GRAZZINI F ounder & C E O , HALLOWELL C hief operating D eputy director G enE Q T Y C hief fi nancial offi cer, B ridgewater & chief operating offi cer, I mage B ank offi cer, Minneapolis I n 2 0 2 0 , after S ensing S ystems I nstitute of A rt ( Mia) holding investment A s the bank ’ s fi rst employee in bank ex ecutive positions in N ew I n 2 0 1 9 , S t. Paul- based I mage 20 0 5, Mary J ayne C rock er helped Pat G raz z ini has been with Mia Y ork , W ashington, D .C ., and S an S ensing S ystems, which manufac- establish S t. L ouis Park - based since 1 9 9 2 , serving as both C F O F rancisco, D ionne G umbs founded tures products used in traffi c man- B ridgewater B ank ’ s culture and and C O O . S he manages the muse- Minneapolis- based G enE Q T Y , a agement, needed fi nancial leader- brand. D uring her career, she has um business— both front and back digital lending platform ship to establish the processes overseen H R , I T , mark eting, opera- of house— with a focus on enhanc- designed especially for women and insights to support future tions, fi nance, product developing visitor ex perience. H er respon- and multicultural business owners. growth and diversifi cation. I t hired ment, facilities, retail bank ing, and sibilities run the gamut and include T he company seek s to remove F rank H allowell, whose ex perience investor relations. S he was named fi nance and accounting task s, lik e fi nancial obstacles for entrepre- spans nearly 3 0 years work ing C O O in 2 0 1 4 and has since led the oversight of the annual operating neurs and small- business owners, with a diverse range of compa- bank through its N asdaq I PO . budget, plus building operations, and its loan matching platform nies. H allowell has since trans- security, property acq uisition and and other services currently formed I mage S ensing S ystems’ B ridgewater boasts a 4 0 .5 percent management, government and support more than 3 0 0 business accounting and fi nance opera- effi ciency ratio, remark able given community relations, retail, events, owners. G enE Q T Y ’ s public brand tions into a forward- look ing team that the bank employs only 1 9 0 . human resources, and strategic and social media account has also that provides accurate forecasts, T his performance is thank s largely planning. built a strong digital community. visualiz ations of performance, and to the rigorous hiring practices guidance that has infl uenced the and company culture that C rock er O utside of Mia, G raz z ini serves as O utside of her company, G umbs company’ s success. T he team helped put in place. treasurer of the Minneapolis R e- mentors business founders routinely closes the monthly gional C hamber of C ommerce and through S t. Paul- based L unar book s within four days and A t the start of the pandemic, is a board member of the S tartups, which helps histori- reports actuals within 1 0 days, C rock er also helped seemlessly Minneapolis D owntown C ouncil. cally marginaliz ed entrepreneurs enabling timely, data- driven move her team to remote work . develop new enterprises. decisions.

60 TWIN CITIES BUSINESS | APRIL/MAY 2021

58-74Notables.indd 2 3/29/21 11:26 AM Congratulations, Arleen and Jeff!

TWIN CITIES BUSINESS NOTABLE LEADERS IN FINANCE

Thank you for your dedication to our Twin Cities businesses—through the recent pandemic hardships and always. Your focus, concern and commitment are inspiring, and we’re glad to have you on our team.

Congratulations on this well-deserved honor!

Arleen Sullivan Chief Commercial Client Services Officer Jeff Roseland SBA Director

61Ad.indd 1 3/25/21 9:02 AM NOTABLE LEADERS IN FINANCE

KRISTEN KIMMELL WILLIAM “BILL” SHERYL LISOWSKI KATIE LORENSON H ead of advisor KOSCHAK E x ecutive vice E x ecutive vice recruiting and C hief fi nancial president, chief president & chief fi eld mark eting, offi cer, C alyx t I nc. accounting offi cer, & fi nancial offi cer, R B C W ealth treasurer, F astenal A lerus Management I n his fi rst three ( R B C W M) months at R oseville- based C alyx t, I n her current role at W inona- K atie L orenson has had a pro- a publicly traded ag- tech fi rm, B ill based F astenal, which she as- found impact on G rand F ork s- Kr isten Ki mmell took on her K oschak powered up the account- sumed in D ecember, S heryl based fi nancial services fi rm current role at R B C ’ s Minneapo- ing and fi nance team by redefi n- L isowsk i oversees more than 1 5 0 A lerus. W ork ing from the T win lis offi ce in fall 20 1 9 . U nder her ing roles and hiring aggressively, fi nance professionals spanning C ities offi ce, L orenson spearhead- leadership, R B C W M recorded a with a focus on sales, supply multiple teams and functions ed the process of fi ling a registra- 3 2 percent increase in advisor re- chain, and research and develop- across the world. tion for a proposed I PO , which cruiting in its fi scal year 2 0 2 0 over ment. T hese moves resulted in concluded with the company’ s the previous year. T his is critical to revenues ex ceeding proj ections S ince j oining F astenal in 1 9 9 4 , launch on N asdaq in fall 2 0 1 9 . the fi rm’ s overall growth— recruit- and $ 3 million more than L isowsk i has found ways to use D uring the pandemic, L orenson ing new advisors results in a near- proj ected cash fl ow in year one. technology to boost effi ciency. I n ensured that A lerus ex ceeded per- automatic lift in revenue. W hat’ s the late 1 9 9 0 s, she took the lead formance ex pectations during its more, the average production per K oschak also pushed C alyx t to on the fi nancial aspects of the fi rst full year as a public company. recruit was 5 0 percent higher than launch its fl agship product, a company’ s enterprise resource the previous year. non- G MO soybean oil with z ero planning implementation. L ater, L orenson was also primarily trans fat. T his move resulted in a she led F astenal’ s ex ternal report- responsible for negotiations in the K immell also inspired the develop- 1 0 ,0 0 0 basis- point improvement ing process. A k ey initiative in this acq uisition of D enver- based ment of a digital series that spot- in gross margins and $ 4 5 million area was implementing ocular R etirement Planning S ervices lights female fi nancial advisors cash savings. T hank s to his initia- scanning recognition technology, in D ecember. T he purchase in- and advisors of color. T he series tives and leadership, the company which made the department more creased A lerus’ assets under man- helped drive a 25 percent increase posted its fi rst year with commer- effi cient gathering high- volume agement to about $ 3 1 .5 billion. in diverse advisor hires in 2 0 2 0 . cial revenue in 2 0 1 9 . transactional data.

MAKING EXTRAORDINARY IMPACT AN EVERYDAY OCCURENCE.

Whether it’s a once-in-a-career opportunity like registering for an initial public offering or a once-in-a-lifetime challenge like leading the Alerus COVID-19 response, Katie Lorenson brings transparency, engagement, and encouragement that make a profound impact at Alerus. We’re thrilled to congratulate Katie on being recognized as one of Twin Cities Business’s Notable Leaders in Finance for 2021. Thank you, Katie, for your vision and leadership.

BANKING :: PAYROLL :: RETIREMENT :: BENEFITS ALERUS.COM

62 TWIN CITIES BUSINESS | APRIL/MAY 2021

58-74Notables.indd 3 3/29/21 11:26 AM KIM NELSON CARRIE NICKLOW SHARON OLSON PATRICK E x ecutive vice C hief financial President & PARISEAU president & chief officer, N ew founder, O lson V ice president of financial officer, W ave D esign and W ealth G roup L L C client services, S PS C ommerce V erification Metropolitan S haron O lson E conomic I n 20 20 , Minneapolis- based S PS A s C F O of Minneapolis- based founded B loomington- based D evelopment A ssociation ( Meda) C ommerce celebrated its 1 0 th technology products manufactur- O lson W ealth G roup in 1 9 9 4 . S ince anniversary as a public company. er N ew W ave, C arrie N ick low is in- then, she has received local and Patrick Pariseau j oined Minne- U nder Ki m N elson’ s financial strumental in planning, organiz ing, national recognition for her apolis- based nonprofit Meda, leadership, S PS has significantly and establishing effective orga- innovative ideas and commitment whose mission is to help B I PO C grown its top and bottom lines, a niz ational structures, procedures, to her clients. entrepreneurs succeed, in 2 0 1 1 . rare accomplishment among tech and systems to maintain and run H e has since been instrumental companies, and has posted 7 7 a small business efficiently. H er O ver the past year alone, O lson in growing Meda’ s loan fund from consecutive q uarters of growth. financial ex pertise and tenacity increased revenue by 2 0 per- $ 2 0 0 ,0 0 0 to nearly $ 3 0 million. for digging in to find the root of cent and directed a 5 0 percent A s C F O , N elson led the company a problem has greatly infl uenced growth in firm assets, despite Pariseau has led Meda’ s innova- through its 20 1 0 I PO , and she the company’ s performance. the year’ s tumultuous mark ets. tion in finance, including tailoring continues to provide essential H er firm’ s 9 9 .8 percent retention its debt, line of credit, and eq uity business and financial leadership. N ick low recently introduced the rate over the past three years products to be more useful to S he has guided S PS through eight E ntrepreneurial O rganiz ation and its revenue growth rate have B I PO C entrepreneurs. H e and acq uisitions, including several S ystem ( E O S ) in the company’ s placed O lson W ealth G roup in the his team have also provided global ex pansions. D uring her leadership team. T he system has top 1 percent among 1 7 ,5 0 0 L PL customiz ed emergency techni- tenure, the company’ s revenue has increased management efficien- F inancial advisors. L ast year, she cal assistance to more than 3 5 0 grown from $ 4 4 .6 million in cies and challenged the team to also launched I nspired L ife F amily B I PO C - owned businesses, helping 20 1 0 to $ 2 7 9 .1 million in 20 1 9 , a stay focused on what’ s most im- O ffice, a family office program for them navigate the economic crisis 5 25 percent increase. portant for the business structure. C - suite women. resulting from the pandemic.

JUSTIN D. STETS AIF®, CCM PRESIDENT

Demonstrating extraordinary care for clients, colleagues, and the community is core to the way in which Justin lives. We are grateful to call him our own, beneﬁting tremendously from his tireless work and learning from his example every day.

CONGRATULATIONS, JUSTIN, on this well-deserved award, and thank you for your leadership!

CARLSON CAPITAL MANAGEMENT is an integrated wealth management ﬁrm offering customized INVESTMENT, ESTATE, TAX, RETIREMENT, INSURANCE, AND PHILANTHROPIC planning for ﬁnancially established individuals and their families. CARLSONCAP.COM

Rankings and/or recognition by unafﬁliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Carlson Capital Management is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Carlson Capital Management by any of its clients. carlsoncap.com/notable

APRIL/MAY 2021 | TWIN CITIES BUSINESS 63

58-74Notables.indd 4 3/29/21 11:26 AM NOTABLE LEADERS IN FINANCE

KELLY PEDERSEN LISA PITTMAN NICHOLAS “NICK” DAVE RISTOW F ounder & C E O , S enior director, PLACE C hief fi nancial C aissa W ealth fi nance and C hief lending offi cer, Q umu S trategies accounting offi cer, B ridgewater operations, D igi- B ank D ave R istow j oined K elly Pedersen K ey E lectronics Q umu, a Minneap- founded B loomington- based N ick Place started at S t. L ouis olis- based developer of enter- C aissa W ealth S trategies in 2 0 0 9 , A t T hief R iver F alls- based D igi- K ey Park - based B ridgewater B ank in prise video platforms, as C F O in and has built it into a success- E lectronics, L isa Pittman has en- 2 0 0 7 , assuming his current role O ctober 2 0 1 7 . A t that time, the ful fi rm with a specializ ed focus abled her team to create important in 2 0 1 5 . H e has helped propel company’ s stock was at $ 2 .5 0 per on women business owners and changes in both the purchasing and B ridgewater from a young share. A s of F ebruary 2 0 2 1 , Q umu entrepreneurs. accounting divisions of D igi- K ey’ s de novo to into one of Minnesota’ s shares were selling at $ 1 0 , a 3 0 0 internal processes. T he improve- largest bank s by asset siz e and percent increase in value in j ust A s part of the due diligence she ments she has driven have con- one of the premier locally led three years. delivers to her clients, Pedersen tributed to its growth into a $ 3 .1 9 commercial real estate lenders. H e visits every fund manager that billion company employing more oversees an active loan portfolio W hile R istow can’ t tak e all the C aissa invests with every year, than 4 ,0 0 0 people worldwide. of over $ 2 .3 billion. credit for the company’ s perfor- traveling from N ew Y ork C ity to mance, he has contributed numer- L os A ngeles and everywhere in O ver the last three years, Pittman W hen the pandemic hit and the ous aspects of his wide- ranging between. H er belief in going the has enabled her team members S mall B usiness A dministration fi nancial ex perience, which in- ex tra mile for clients includes to automate routine task s so they rolled out the Paycheck Protec- cludes strategic planning, profi t “ torpedo- proofi ng” retirement can focus on more important action Program ( PPP) , Place q uick ly and loss optimiz ation, capital rais- planning, an innovative approach counting work . T hese efforts have got to work ; in 2 0 2 0 , his small but ing, and fi nancial process design that involves repeatedly stress included several new technologies nimble team of 4 0 lenders and and re- engineering. testing retirement plans to and systems updates, including credit analysts processed more ensure they can withstand volatile tax software solutions and an than 1 ,2 0 0 PPP loans totaling B efore starting his fi nance career, fi nancial events. enhanced digital accounts $ 1 8 0 million in an effort to R istow completed fi ve years of payable process. support the T win C ities. active duty with the Marine C orps.

Finance

With more than three decades of experience in the ﬁnancial services industry, Dave Boden has served as the President/CEO of St. Paul, Minnesota-based Hiway Credit Union since 2013.

Tara Graff serves as the Senior Vice President of Marketing and Business Development at Hiway Credit Union. She has a deep love for and more than ﬁfteen years of professional experience in Marketing marketing and public relations.

64 TWIN CITIES BUSINESS |APRIL/MAY 2021

58-74Notables.indd 5 3/29/21 11:26 AM JESSICA STEPHEN JEFF ROSELAND LUKE SCHLEGEL ROBINSON “STEVE” S B A D irector, O ld E x ecutive vice C hief financial ROBINSON N ational B ank president, officer, T he S table C hief financial operations and officer, C apstone J eff R oseland analytics, C ollective J essica R obinson j oined I ndiana- Measures j oined T he S table, a Minneapolis- I n his six years at C apstone, E dina- based O ld N ational B ank in March based multichannel commerce based publisher of educational 2 0 2 0 . B ased in the T win C ities of- L uk e S chlegel oversees analyt- agency, in 20 1 7 after holding content for children, S teve R obin- fice, R oseland q uick ly put his 3 0 - ics, proj ect management, and financial leadership roles at a son, has led the business through plus years of bank ing ex perience operations teams at Minneapolis contract drug therapy manufac- a complex ownership change and into action as a k ey leader in the mark eting agency C ollective turer and a software- as- a- service implementation of a new enter- implementation of the S mall B usi- Measures. A s one- third of its ex - provider. A t T he S table, she leads prise resource planning system. ness A dministration’ s Paycheck ecutive team, he is responsible for finance and H R . U nder her leader- Protection Program ( PPP) across managing the agency’ s finances. ship, the agency has enj oyed T he pandemic brought unprec- O ld N ational’ s five- state footprint. organic compound annual growth edented challenges to C apstone, S chlegel faced the global pan- rates of 5 0 percent and higher. as the company had to figure U nder R oseland’ s leadership, O ld demic head on. H e moved to initi- R obinson also has helped direct out new and creative ways to get N ational helped more than 9 ,8 0 0 ate a new bank ing relationship, the ex pansion of T he S table’ s content into students’ hands. T his small businesses in those states updated the company’ s 4 0 1 ( k ) service offerings beyond brick - and req uired doubling down on its get PPP loans in 2 0 2 0 . I n Min- plan, implemented new payroll mortar to include e- commerce and ex isting digital platform. R obin- nesota, the bank processed 2 ,6 8 8 and enterprise resource planning mark eting, and she contributed son played a maj or role helping PPP loans, mak ing it one of the systems, and oversaw the devel- to three successful acq uisitions C apstone meet this goal while state’ s top five PPP lenders. O ld opment of all internal financial in 2 0 2 0 . maintaining profitability. N ot only N ational also rank ed in the top reporting. H e also negotiated a did the company boost its digital five among Minnesota lenders for comprehensive lease for a full- R obinson has also work ed on offerings in 2 0 2 0 , but it also PPP loans to minority- led fl oor office renovation to support various initiatives around mental emerged from the year poised to businesses. C ollective Measures’ significant health and diversity and inclusion. capture a greater mark et share. growth over the last few years.

Congratulations to Kristen Kimmell

SPS Commerce congratulates

Kim Nelson Chief Financial Officer for being named to the Twin Cities Business on being named a 2021 Notable Leaders in Finance list Notable Leader in Finance. As head of Advisor Recruiting, Kristen has helped turn RBC Wealth Management into a fierce competitor for talent. By using her position, visibility and influence, Kristen is leading the charge to build one of the most diverse and inclusive workforces in the financial services industry. Over the last 13 years, Kim has led SPS Commerce through a successful IPO, ten years on NASDAQ and At RBC Wealth Management, we recognize the unique contributions 80 consecutive quarters of growth. The company’s of each of our employees and value their contributions—both inside and outside of the firm. profitable growth has differentiated SPS from its competitors and benefited its employees, customers Visit our career page at www.rbcwealthmanagement.com and shareholders. Thank you for your leadership! to learn more about how you can be part of our team.

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58-74Notables.indd 6 3/30/21 12:36 PM NOTABLE LEADERS IN FINANCE

THOMAS “TOM” VIBHU SHARMA STEVE SIGMOND JUSTIN STETS SCHWARTZ E x ecutive vice C o- founder & chief President, C hief fi nancial president, chief fi nancial offi cer, C arlson C apital offi cer, R obins fi nancial offi cer, & C arrot H ealth Management K aplan L L P treasurer, T hrivent S teve S igmond is J ustin S tets has T om S chwartz j oined Minneapolis- S ince j oining T hrivent as C F O in an entrepreneur who has work ed been a principal at C arlson C apital based law fi rm R obins K aplan in S eptember 2 0 1 9 , V ibhu S harma with emerging technology com- Management since 1 9 9 8 and 20 1 9 , bringing with him nearly 3 0 has made use of the company’ s panies for more than 2 5 years. A s president since 2 0 1 3 . H e also is years of accounting, fi nance, and strong capital position to mak e co- founder and C F O of Minneap- the chief compliance offi cer and leadership ex perience. A s C F O , he strategic investments to support olis- based health data analytics an integrated wealth advisor for immediately began to reassess the business transformation. U nder his fi rm C arrot H ealth, he has guided the fi rm, which has offi ces in four team’ s capabilities and processes, fi nancial leadership, the company the company’ s 1 0 0 - plus percent Minnesota cities. H e leads initia- hire new personnel ( including an ended 2 0 2 0 with a record surplus year- over- year revenue growth tives with long- term impact, while all- new management team) , and of $ 1 2 .8 billion. over the last four years. also seek ing out opportunities to introduce new tools to increase help others. effi ciencies in fi nance. D uring the pandemic, S harma has S igmond’ s ex tensive back ground continued to diligently manage in venture capital— including a S tets has also long been actively W hen C ovid- 1 9 forced most T hrivent’ s ex penses. H e also led partnership at S tillwater- based involved in serving the commu- employees to work from home, the company to offer payment de- B lueS tream V entures, where he nity. T his past year, he orches- S chwartz directed a comprehen- ferment options to clients and an advised portfolio companies and trated a gathering of doz ens of sive effort of process standardiz a- ex pense reimbursement program sourced investment opportuni- volunteers to present an online tion to ensure uniformity across to employees work ing from home. ties— gives him a perspective “ E vening of E ntertainment” for the organiz ation. H e also intro- C urrently, he is overseeing efforts different from most startup found- philanthropic nonprofi t N orthfi eld duced new automation methods to integrate T hrivent’ s I T systems ers; he learned that capital raised S hares. T his free event engaged to reduce errors and ineffi ciencies. to create more effi cient business is not a good measure of success. more than 1 ,0 0 0 household view- H is efforts helped the fi rm transi- processes and seamless client W ith this in mind, he focuses on ers and raised more than $ 1 1 5 ,0 0 0 . tion smoothly to remote work . ex periences. revenue growth at C arrot H ealth.

Congratulations, PATRICK PARISEAU Lisa! Lending and Client Services 2021 Notable Twin Cities Business 2021 Leaders in Finance Notable Leaders in Finance

Meda was founded 50 years ago by Minnesota business leaders who saw Black, Indigenous and People of Color (BIPOC) business ownership as a key strategy to address the economic disparities in our community. Meda provides capitalpital to BIPOC businesses with the potential to scale into long-term, sustainable employers. Today, Meda clients employ more than 6,000 Minnesotans and have a combined annual revenue in excess of $1 billion. Lisa Pittman WWW.MEDA.NET Senior Director, Finance & Accounting Operations Helping Minority Entrepreneurs Succeed Digi-Key Electronics

66 TWIN CITIES BUSINESS | APRIL/MAY 2021

58-74Notables.indd 7 3/30/21 12:39 PM NOTABLE EXECUTIVES IN MARKETING

ARLEEN GREG WALLACE SULLIVAN C hief fi nancial C hief commercial offi cer, W hen I client services W ork offi cer, O ld N ational B ank G reg W allace j oined Minneapolis- based W hen I A rleen S ullivan j oined O ld N a- W ork , which provides scheduling tional as community bank ing platforms for shift- based busi- Best-in-class executives president in 20 1 8 , when W ayz ata- nesses, in 2 0 1 5 as vice president based A nchor B ank ( where she of fi nance. I n 2 0 2 0 , he helped the had work ed for 1 7 years) was company navigate the year’ s ever- acq uired by I ndiana- based O ld changing economic challenges by N ational. A ppointed to her current developing data- driven fi nancial Our Notable Executives in Marketing hail from virtually every position in J anuary 2 0 2 0 , she forecasting capabilities. T hank s industry: education, health care, fi nance, transportation, man- oversees loan fulfi llment and com- to these and other efforts, W hen I mercial lending support across W ork ended the year with profi t- ufacturing, construction, law, economic development, tour- the bank ’ s fi ve- state footprint. S he ability, growth over 2 0 1 9 , and its also serves on the bank ’ s Minne- strongest balance sheet ever. A ll ism, arts— even a cemetery association— as well as nonprofi ts sota leadership team. these factors put the company in and agencies. They are often the faces of their companies, an a position to invest aggressively in D uring the pandemic, O ld growth in 2 0 2 1 without relying on especially challenging role this past year during a pandemic N ational processed nearly 1 0 ,0 0 0 outside capital. PPP loans, and S ullivan ex hibited and a civil rights movement. They juggle a wide range of ex emplary leadership and calm I n J anuary, W hen I W ork named responsibilities, from public relations and communications, while navigating the complex W allace as its fi rst C F O . government program. to partnerships and recruiting. These 3 2 individuals are quick and nimble, always ready to face any challenge head-on.

METHODOLOGY: T he individuals featured did not pay to be included. T heir profi les were drawn from nomination materials. T his list is not comprehensive. I t includes only people who were nominated and accepted after editorial review. T o q ualify for this list, individuals must be serving in a C - suite or senior- level mark eting role in Minnesota, have at least fi ve years of ex perience in mark eting, and have shown the ability to create signifi cant, positive, and measurable results in their fi eld.

ANN ARONSON NANCY BALDRICA C hief mark eting V ice president & ofﬁ cer, U niversity chief mark eting of Minnesota- and development U niversity R elations ofﬁ cer, F raser

S ince j oining the U niversity of Min- I n less than two years at F raser, nesota as chief mark eting offi cer N ancy B aldrica has reinvigorated in 2 0 0 5 after holding management the branding and communications positions at T arget and C armichael of the R ichfi eld- based provider L ynch, A nn A ronson has led the of autism and early childhood university’ s central communica- mental health services. S he has tions and mark eting teams into added new talent by rewriting j ob creative new areas. S he developed descriptions to max imiz e the ef- the university’ s fi rst institutional fectiveness of the mark eting team. brand, “ D riven to D iscover,” which I n addition, B aldrica improved has dramatically increased public F raser’ s website capabilities, awareness of the U of M’ s commu- increased social media presence nity value. on all platforms, and led creation of informational podcasts. S he More recently, A ronson has rebranded F raser events to appeal overseen new proj ects, including to larger audiences and launched a podcast series on mental health multiple advertising campaigns. resources and a C ovid- 1 9 news section focused on delivering the I n 2 0 2 0 , B aldrica also led an em- latest discoveries and solutions ployee group addressing concerns the U niversity has provided in and organiz ing implementation of response to the pandemic. antiracism initiatives.

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58-74Notables.indd 8 3/29/21 11:29 AM NOTABLE EXECUTIVES IN MARKETING

LISA BODINE ERIN DADY BRIAN DAHL JANE DOYON C o- owner & C hief mark eting President & partner, V ice president, president, and public relations DKY mark eting, G iant V oices offi cer, C older Products B remer B ank S ince 2 0 0 6 , B rian C o. ( C PC ) N ow president of D ahl has led E den G iant V oices, a nationally recog- A lmost as soon as E rin D ady Prairie- based mark eting agency J ane D oyon has a track record niz ed full- service mark eting agen- j oined S t. Paul- based B remer D K Y , ex panding its core busi- of helping organiz ations grow by cy based in D uluth, L isa B odine B ank in D ecember 2 0 1 7 , she was ness serving agriculture, outdoor building awareness and increas- has built a sales and mark eting task ed with delivering a new recreation, B 2 B , and faith- based ing mark et share. D uring her 1 0 career spanning more than 2 0 brand, a proj ect that also included nonprofi t clients. I n 2 0 2 0 , D K Y years at R oseville- based C PC , years. H er work has been almost creating a new website and a new increased staff by 2 5 percent which supplies couplings, fi ttings, ex clusively in business- to- business ad campaign. S he made sure they and revenue by 3 0 percent and connectors for plastic tubing industry sectors, and her clients all launched on the same day in despite the challenging economic used in a variety of industries, she include privately held manufactur- May 2 0 1 9 , and her efforts included environment. has helped the global sales and ers and technology companies in- depth k ey customer segment mark eting operations teams by throughout the Midwest. research, mark et testing, and O ne recent ex ample of D ahl’ s generating leads, building mark et more. comprehensive client guidance: awareness, and providing commu- B odine is also a strong advo- H e led an industrial bearings com- nications platforms. cate for business and economic I n 20 2 0 , D ady increased ex ternal pany through a vigorous rebrand- development in northeastern Min- awareness of B remer’ s response ing process after a series of acq ui- I n 2 0 2 0 , D oyon pushed her nesota, championing the natural and efforts for businesses and sitions ex panded the company’ s organiz ation to adapt to emerging resources- based economy and the individuals with pandemic- product offerings and services. H e mark ets, meet the business chal- clean- energy transformation. S he induced fi nancial challenges, and, guided the client every step of the lenges that arose from C ovid- 1 9 , has work ed with the A rea Partner- in the wak e of G eorge F loyd’ s way, from the initial branding and shifted her organiz ation’ s ship for E conomic E x pansion, the death, she advocated for a strong audit and new website construc- entire digital brand presence to be MN C hamber of C ommerce, and diversity, eq uity, and inclusion tion to the internal employee more user- friendly. the I ron Mining A ssociation. action plan. rollout and public launch.

CONGRATULATIONS TO OUR BEST-IN-CLASS EXECUTIVES

Awarding-winning leaders. Meaningful work that makes a difference.

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Mary Bogie Acting Regional Administrator Notable Finance Leader Bruce Howard Director of Transit Information and Marketing Notable Marketing Leader

68 TWIN CITIES BUSINESS | APRIL/MAY 2021

58-74Notables.indd 9 3/29/21 11:29 AM JULIA GILLIS TARA GRAFF JULIE HENSON MELANIE Director of Senior vice Chief client officer, HOFFERT marketing president of Taft Chief marketing and outreach, marketing officer, Saint Lakewood and business Chief client officer Paul & Minnesota Cemetery development, Julie Henson helps Foundation Association Hiway Credit Union Taft’s 600-plus lawyers expand their practices, grow revenue, and Melanie Hoffert joined Minnesota’s Julia Gillis leads development of Before joining St. Paul-based Hi- spark innovation. Before assum- largest community foundation programs that help support the way in 2018, Tara Graff led marketing her current role, she served as in 2018 after running her own venerable Minneapolis cemetery’s ing and public relations functions director of marketing and client consultancy and holding leader- mission to reimagine the role at Twin Cities-based Spire Credit development at Minneapolis law ship roles in both the public and of a cemetery in modern life. Union and served as vice presi- firm Briggs and Morgan, help- private sectors. With traditional burial declining dent of marketing and business ing shepherd the firm through its in Minnesota and new ways to development for Wisconsin-based January 2020 merger with Ohio- A published author and marketer, commemorate on the rise, she is Royal Credit Union. Recently, Graff based Taft. Hoffert is very much a storyteller. developing new approaches to spearheaded the successful re- She leads a team that develops supporting families at all stages of branding of Hiway Federal Credit In 2020, Henson co-founded the and implements the entire range the end-of-life journey. Union to Hiway Credit Union. Cur- Minneapolis Strategic Coalition of marketing and communication rently, she is leading the develop- of Law Firms, a consortium of 20 strategies to advance the founda- Gillis has launched Learn@ ment, launch, and marketing for local law firm managing partners tion’s mission to inspire gener- Lakewood, inviting the public Hiway’s soon-to-open Roseville and leaders that supports the osity, advocate for equity, and to explore death and dying in a branch. downtown Minneapolis invest in community-led solutions. safe and comfortable space, both business community as it faces The work she oversaw in 2020 in person and online. She also Graff also serves on various the challenges of Covid-19 and resulted in nearly 1 billion media leads the annual lantern-lighting committees for the Credit Union social unrest. impressions, spotlighting the ceremony, where more than 1,000 National Association’s Marketing & foundation’s critical work during a people gather annually. Business Development Council. challenging year for nonprofits.

Congratulations VQ,WNKG*GPUQPQPDGKPIJQPQTGFCUC0QVCDNG/CTMGVKPI'ZGEWVKXG by Twin Cities BusinessOCIC\KPG

Julie Henson %JKGH%NKGPV1HEGT

Taftlaw.com

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CHRISTINE BRUCE HOWARD KATIE JACKSON- ERICA JENSEN HORTON D irector of RICHTER S enior vice V ice president of mark eting and V ice president & president, member global mark eting, transit information, chief operating engagement, N onin Medical Metro T ransit officer, enrollment, and C uneo A dvertising ex perience, W ithin a year of j oining Plymouth- D uring his 2 8 - plus years at B e T he Match based N onin Medical, whose Minneapolis’ Metro T ransit, B ruce K atie J ack son- R ichter, who has fingertip pulse ox imeter is a k ey H oward has helped grow rider- been with B loomington- based W hen E rica J ensen j oined B e T he tool in detecting C ovid- 1 9 and ship by mark eting the region’ s C uneo A dvertising since 2 0 0 5 , Match in 2 0 1 9 after 2 0 years driv- managing patient health, C hristine two new light rail lines and its first currently oversees the agency’ s ing strategic growth for F ortune H orton was helping navigate B us R apid T ransit lines, starting digital platform and new business 5 0 0 s, she faced the challenge the organiz ation through a the agency’ s Metropass and U Pass initiatives. S ince becoming C O O in of addressing disparities on the tumultuous 20 20 . programs, creating one of the na- 2 0 1 8 , she has advocated for digi- bone marrow donor registry. tion’ s first G uaranteed R ide H ome tal innovation tools and technolo- T hese disparities had resulted in A strategic mark eting leader with programs, and developing the gies, new talent, and operational ineq uitable outcomes for A frican almost 3 0 years of medical device agency’ s first mobile app tick et- efficiencies. A merican, H ispanic, and A sian ex perience, H orton helped ing system. I n addition, H oward’ s patients. T o help improve those support the health care com- team has introduced the new “ T W hen the pandemic hit, outcomes, J ensen built out data munity during the pandemic by ME T R O ” brand to promote the J ack son- R ichter was thoughtful and analytics functions, increased providing tools and education to region’ s growing transit network . and strategic in managing work - digital mark eting, and ex panded help fl atten the curve. S he also load, staffing, and resources, and member engagement. H er efforts directed donation of pulse ox im- O utside of Metro T ransit, H oward demonstrated the same empa- helped the organiz ation accom- eters to underserved clinics in the has served as chair of the R amsey thetic approach toward clients. A s plish its registration goals in 2 0 2 0 T win C ities. Perhaps most impor- C ounty L ibrary B oard, chair of the a result, C uneo had a 9 8 percent despite the pandemic, and A frican tantly, her efforts helped maintain N ew B righton Planning C ommis- client retention rate for 2 0 2 0 and A merican recruitment increased uninterrupted device production, sion, and member of the N ew added eight new clients. 2 2 percent from fiscal year 2 0 1 9 ultimately saving lives. B righton C ity C ouncil. through fiscal year 2 0 2 0 .

Congratulations Margie For your tireless support of UCare’s mission to improve the health of our members.

Twin Cities Business 2021 Notable Executive in Marketing

70 TWIN CITIES BUSINESS | APRIL/MAY 2021

58-74Notables.indd 11 3/29/21 12:41 PM AMY JOHNSON REMI KENT MATT KUCHARSKI MARGIE Director of Global chief President, LINDBERG marketing and marketing offi cer, Padilla Vice president of leasing, 3M Consumer marketing, sales, Roers Cos. Business Group As president of the and product Minneapolis-based management, A key aspect of Amy Johnson’s Remi Kent joined 3M in 2013 after communications agency, Matt UCare role at Minnetonka-based nearly fi ve years marketing and Kucharski has planned and imple- multifamily housing developer managing billion-dollar brands for mented strategic communications, Margie Lindberg is responsible for Roers Cos. is to ensure that newly Procter & Gamble. At Maplewood- brand building, and reputation creating and selling health plans constructed properties open at or based 3M, she is responsible for management for clients across that meet the needs of Minne- above the company’s occupancy delivering profi table growth for Padilla’s six nationwide offi ces. apolis-based UCare’s diverse targets. She also leads staff and brands including Post-it, Scotch, In 2020, he led development membership in Minnesota and contractors in tackling all facets and Command. In this role, she of Return-to-Work, a strategic Wisconsin. In 2018, she led work of marketing for two corporate spearheaded the launch of Noted process to help organizations to redesign and revitalize UCare’s brands and approximately 40 by Post-it, a design-forward line operate effectively under Covid-19 branding. In 2020, Lindberg trans- property brands. of stationery, and Scotch Flex and restrictions, helping clients pivot formed UCare’s digital platforms Seal shipping products. their strategic thinking, adjust op- and member experience program Johnson’s tenacity helped ensure erations, and respond quickly to and oversaw an omni-channel that Roers’ portfolio improved Kent assumed her current post internal and external stakeholders. marketing campaign and sales its occupancy numbers in 2020 just as the pandemic hit and reorganization, which enabled the over 2019, despite the past year’s demand for 3M’s N95 masks and Under Kucharski’s leadership, organization to surpass Medicare challenges. Thanks largely to her respirators intensifi ed. She was Padilla’s diversity and inclusion sales goals by more than 100 hard work and creativity, two new part of a team that drove council launched a revised pro- percent. She also regularly plays a Roers property brands that were increased production, helping 3M gram last year focused on recruit- key role in helping UCare’s launched last year opened ahead double its supply to deliver ment and retention. The program business development and growth of projections. 2 billion respirators in 2020. also included unconscious-bias strategies and bringing new training for employees. products to market.

Congratulations, Lisa, for being named a Notable Executive in Marketing! Lisa has been a champion for economic development and prosperity in northeastern Minnesota, and shown incredible leadership throughout the region. We are proud to be partnered with Lisa and her team as we continue to grow and succeed!

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ROHIT MULL MARNIE OCHS- DANIEL OWEN JÖRG PIERACH C hief mark eting RALEIGH C hief strategy and F ounder, offi cer, C E O , mark eting offi cer, F ast H orse T hrivent E volve S ystems R obins K aplan J ör g Pierach I n 20 20 , Minneap- Marnie O chs- D aniel O wen’ s launched olis- based T hrivent merged sepa- R aleigh has been leading S t. Paul- work includes determining what Minneapolis- based integrated rate teams in brand and mark eting based E volve S ystems, a branding, the Minneapolis- based law fi rm’ s creative agency F ast H orse in to create an integrated mark eting design, digital mark eting, and clients will want in the nex t two to 2 0 0 1 . U nder his direction, F ast function, spearheaded by a new website development agency, fi ve years, and how to deliver it. H orse has ex ecuted numerous chief since 2 0 0 1 . I n 2 0 2 0 , she retained O ver the past year, O wen’ s mar- award- winning proj ects for a mark eting offi cer. R ohit Mull and brought on additional staff k eting team ex perienced signifi - client roster that includes moved from N ew J ersey to members to help her agency grow cant growth. A s the fi rm adapted C oca- C ola, H einek en, and A udi. Minnesota, j umping in to lead a despite a challenging year. H aving to the pandemic, fi rst- page search T he agency’ s “ I f W e Made I t” total brand relaunch, the com- built a business that emphasiz es engine rank ings improved 1 3 0 per- campaign for N ewcastle B rown pany’ s fi rst national advertising giving back to the community, she cent, article placements increased A le was honored with a C annes campaign, and a new client recently established the E volve’ D 1 6 0 percent, and webinar numbers S ilver L ion in 2 0 1 4 and 2 0 1 5 . acq uisition program, all with a Proj ect, which provides a free tripled. R obins K aplan’ s C ovid- 1 9 digital- fi rst mindset. digital upgrade, including logo, resource page also became one Pierach is also a champion of website, and content strategy of the most prominent online law diversity and eq uity in the work - T hrough Mull’ s ability to drive refreshes, for minority- owned fi rm pages on G oogle. place. I n 2 0 1 8 , he founded T he transformational change, the com- businesses. B attle, an annual Minneapolis pany is already reaping the effects O wen has also focused on improv- advertising industry fundraising of his leadership, doubling growth O chs- R aleigh regularly speak s ing the onboarding process for event that has generated over in awareness and q uadrupling at institutions lik e U niversity of new hires, ensuring new $ 6 0 ,0 0 0 in scholarship funds growth in new customer leads S t. T homas and B est B uy, and has associates and staff live up to the supporting diverse students relative to prior efforts. spent more than 5 ,5 0 0 hours fi rm’ s reputation for strong client seek ing a career in the fi eld. volunteering in the T win C ities. advocacy.

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58-74Notables.indd 13 3/29/21 12:42 PM KRISTIN MOLLY RICE COURTNEY S. BRENDON PRESTEGAARD C o- founder, RIES SCHRADER C hief engagement president, & C E O , S enior vice C E O , offi cer, Minneapolis S pyglass president of A ntenna I nstitute of A rt ( Mia) destination S ince launching branding and I n 2 0 0 6 , B rendon A t Mia, Kr istin Prestegaard over- Minneapolis- based strategic brand strategy, Meet Minneapolis S chrader founded Minneapolis- sees the audience engagement consultancy S pyglass in 2 0 0 1 , based A ntenna, which connects division, a role which encompasses Molly R ice has created and imple- C ourtney R ies oversees the mar- companies seek ing short- or mark eting, public relations, design mented brand strategies, mark et- k eting, communications, partner- long- term mark eting ex pertise and editorial, social media, and ing campaigns, and customer ship, and visitor center depart- with seasoned professionals in visitor ex perience. S he also plays ex perience strategies for doz ens ments at Meet Minneapolis, the the fi eld. H e has built an ex tensive a k ey role in building both internal of underserved small and mid- city’ s tourism board. H er role and client list that includes numerous and ex ternal relationships to garner siz ed businesses, nonprofi ts, and focus changed dramatically a year F ortune 5 0 0 s as well as startups. new interest and encourage sus- large global leaders lik e C itibank , ago when the tourism and hos- tained engagement. G eneral Mills, B ank of A merica, pitality industry shut down. R ies O utside of A ntenna, S chrader and U nitedH ealthcare. helped lead the creation of robust launched G ood W ork s, a pro- Prestegaard’ s leadership has di- website sections on C ovid- 1 9 gram that has driven donation of rectly led to Mia’ s doubled atten- B esides her work with high- profi le information and developed new more than 1 million meals to local dance over the last 1 0 years. H er accounts, R ice has also helped visual guides for online viewing. families through S econd H arvest team’ s leveraging of digital strate- numerous innovative entrepre- H eartland and F eeding A merica. gies to share Mia’ s content library neurs and growth- oriented I n the last year, R ies has also H e has also built a professional has allowed the museum to reach companies mak e their mark . focused on a new audience: the community through T he W ay W e its diverse audience base virtually, S pyglass has contributed over local community. A new campaign W ork , a community education helping it remain relevant even $ 1 million in support to nonprofi ts included billboards, radio ads, and program he runs in partnership during pandemic- related closures. focused on the arts, education, website content featuring ways with the U niversity of Minnesota’ s and social j ustice. for residents to support small and C arlson S chool of Management. B lack - owned businesses.

Headline About Matt Goes Here

No matter how hard we tried, we couldn’t get Matt Kucharski to approve an ad honoring him for his recognition as a TCB Notable Executive in Marketing. So, we get to write whatever we want. Aldkfjaoweirjgoaiwjeroj See? Anything. As an agency, we’re incredibly proud of Matt and all he’s accomplished in his 30+ years at Padilla. As copywriters, we’re frustrated by his humility. Nonetheless, congratulations, Matt. You deserve it all.

PadillaCo.com

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JULIA DAN SOLDNER JENNIFER SPIRE BILL VON BANK SCHREIFELS President, Partner & C E O , D irector of V ice president V ye Preston K elly mark eting and & director of communications, mark eting and I n 2 0 0 9 , at the age J ennifer S pire has D estination Medical communications, of 2 8 , D an S old- more than 2 5 years C enter ( D MC ) T he B ank of E lk R iver ner launched V ye, a full- service of ex perience in both consumer E conomic D evelopment A gency mark eting agency that operates and B 2 B mark eting across a range J ulia S chreifels has helped trans- under parent company L eighton of industries. S ince she took the S ince 2 0 1 7 , B ill V on B ank has form the 1 3 0 - year- old E lk R iver E nterprises, a S t. C loud- based helm at Minneapolis- based inde- mark eted R ochester’ s 2 0 - year, bank into an interactive, custom- broadcasting company. pedent advertising agency Pres- $ 5 .6 billion transformation. H e is er- focused, digitally- savvy fi nan- ton K elly in J anuary 2 0 1 9 , she has responsible for mark eting strategy cial institution. B efore she j oined D uring the early days of the pan- spearheaded a signifi cant cultural and for directing the D MC agen- in 20 1 4 , the B ank of E lk R iver demic, S oldner q uick ly helped the and brand transformation. “ G ood cy’ s internal and ex ternal commu- communicated primarily through V ye team move to a fully remote W ins,” the brand ethos, refl ects nications to promote R ochester as its website, the local newspaper, work environment, leading the the industry veteran’ s belief that a global destination for health and and email. S ince then, S chreif- way with the creation of a plan to brands win by being honorable, in- wellness. els has signifi cantly boosted the k eep the business not only run- volved, and caring about custom- bank ’ s digital presence, adding C R ning but thriving. H e also helped ers and the communities in which I n 2 0 2 0 , V on B ank created a and A I strategies and tactics that clients defi ne strategies and they ex ist. U nder this umbrella, podcast for national audiences have led to measurable R O I . T hese tactics to help recover from the S pire pioneered the G ood B rand featuring thought leaders who and other communications strate- pandemic. H e did this by coach- I ndex , a data- driven, proprietary ex plore how creativity and in- gies she introduced have helped ing clients on how to create digital tool that measures consumer novation transform cities. H e also the bank achieve signifi cant ex periences to replace in- person perception of how “ good” a brand developed the R ochester R eady growth and have raised its profi le events, how to adopt virtual sales is and demonstrates why “ good campaign designed to assure resi- in the community. tactics, and how to lean into tech- brands” win in the mark etplace. dents, visitors, and patients that nology to overcome challenges. measures are in place to lessen the risk of C ovid- 1 9 transmission.

ALEXIS WALSKO TERRY WU F ounder & C E O , President & chief L ola R ed mark eting offi cer, N euromark eting A lex is W al- S ervices C orp. sk o founded her Minneapolis- based agency L ola T erry W u’ s Plymouth- based com- R ed in 2 0 0 0 at age 2 2 and has pany is the only mark eting fi rm since established it as a nation- in the Midwest that specializ es in ally recogniz ed PR and digital neuromark eting. N euromark eting communications fi rm. I n 20 1 5 , she is a science- driven approach to also launched L ola Pro, a division mark eting designed to provide representing professional athletes. a deeper understanding of how consumers mak e buying deci- E ven with the challenges of sions. U sing W u’ s practical, action- 20 20 , W alsk o and her team grew able insights, several clients have the fi rm’ s client base nearly 5 0 ex panded from local to national percent over the second half of mark ets. the year. S he navigated signifi cant obstacles to retain 8 5 percent W u has been informing local and The authoritative voice on special of the company’ s clients and to national business communities add team members to L ola R ed’ s about the power of neuromark et- events throughout the upper Midwest. public relations, digital, and social ing since 2 0 1 8 . H is 2 0 1 9 T E D x divisions. L ast A ugust, she also T alk on neuromark eting has been www.ilea-msp.org | [email protected] organiz ed a virtual gathering of viewed online more than 1 3 0 ,0 0 0 T win C ities creative community times worldwide. I n 2 0 2 0 , he also leaders to discuss ways to pro- lectured at seven universities in mote racial eq uality and support the U .S ., I ndia, and F rance, teach- community healing. ing a new generation of mark eters about neuroscience mark eting.

Photos: Jeannine Marie Photography, Lauren B Photography

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58-74Notables.indd 15 3/29/21 12:44 PM TRENDING COMMERCIAL REAL ESTATE

Home Sweet Ofﬁ ce?

C ompanies are focused on mak ing their ofﬁ ces attractive collaborative spaces in the post- C ovid era, which lik ely will feature dividing work time between home and the ofﬁ ce. By Burl G il yard

any white-collar workers have been working remotely, Mcooped up in home offi ces and connecting on Z oom meetings since the start of the pandemic shutdowns in March 2020. More than a year later, the world hasn’t changed as much as many hoped it would. P redictions about getting back to the offi ce have come and gone as many large companies keep delaying their offi ce return dates. Retailer Target Corp., the largest employer in downtown Minneapolis, recently decided to push its return to its corporate headquarters until at least this coming fall. When Target workers resurface downtown, there will be fewer of them. About 3 ,500 Target employees will no longer work in the City Center offi ce tower, instead they’ll work remotely or be based out of other offi ces. Statistics from the Minneapolis Downtown Council showed in early 10 West End is an offi ce March that just 16 .1 percent of workers b uil d ing in St. Louis Park were back in downtown Minneapolis. rich w ith amenities and But sooner or later, companies are heal th- rel ated el ements. going to want to see their employees back in the offi ce. Workers miss the social connections of the workplace, offi ce building in the metro area, offers get smarter. I think it has to get more at- in their spaces, developers upgraded the and collaboration, mentorship, and some clues. tractive now to bring people in, because building’s HVAC system. company culture are tougher to foster Minneapolis-based Ryan Cos. people are very capable and comfortable Safe airfl ow is a change that many online. Yet, some aspects of working life U S, Inc. and the St. L ouis P ark-based and have the tools now to work from tenants are requiring, Barranco says. may have changed forever. Managers Excelsior Group built the project specu- home,” Barranco says. “There’s got to Before the pandemic, offi ce design who once feared that employees alleg- latively, with no signed leases in hand. be a value proposition to come in, and trends favored cubeless open offi ces. The edly “working from home” were just The 3 43 ,000-square-foot project broke some of that’s going to be culture and pitch was that the spaces helped foster goofi ng off have suddenly discovered ground in October 2019 , when the pre- everything else, but a lot of it’s going to connection and collaboration, but it that remote workers can still get the job pandemic world was still “normal.” The be the physical space.” also meant that companies needed less done. In some cases, they’re even more building is now opening in a whole new While 10 West End was under con- space per employee and could save some productive, with no commute and no landscape. struction, Barranco says that developers money on rent. But Covid is prompting distractions from chattering co-workers. In talking to prospective tenants, made some changes “on the fl y” with changes in offi ces. one thing has become clear: “The offi ce the pandemic in mind. Mid-project they “We’re certainly hearing that ‘These Offi ce of the future isn’t going away,” says Tony Barranco, went with touchless systems through- departments can fl ex in and out,’ so But what is the new offi ce world going senior vice president for real estate out the building for elements such as they’ll need less space, but those spaces to look like? The recently completed 10 development for Ryan Cos. elevator buttons and access doors. With will need to be spread out. Everything West End in St. L ouis P ark, the newest “The workplace is going to need to tenants more conscious of good air fl ow was going exclusively open-concept,” K R I V I T PH O T O

APRIL/MAY 2021 | TWIN CITIES BUSINESS 7 5

75-78CRE.indd 1 3/29/21 10:46 AM TRENDING COMMERCIAL REAL ESTATE

Barranco says. Now, he adds, national, says that he’s seen two many companies are looking at trends for companies returning to Nonprofit Event Calendar “having some privacy nodes the office. just to pay attention to health “There are those that have and safety.” been back, and they’ve been back YWCA for months. Those are generally Amenity- rich spaces Systemic Racism Amplified by Crises the smaller, locally run compa- Thursday, April 23 | 5:30 PM - 7 PM Barranco explains that 10 West End nies—single-office type users,” Learn how crises like COVID-19 amplify discrimination we is heavy on amenities, including a Gelfman says. “The large, national already see in our community, featuring a conversation with rooftop deck. That’s drawing strong companies are taking a much more Lieutenant Governor Peggy Flanagan. interest from some tenants who are cautious, wait-and-see approach, ywcampls.org/events/it2a-responding-to-systemic- currently in downtown Minneapo- whether they’re downtown in the inequities-and-racism-in-a-time-of-crisis/ lis. Barranco says that the building’s CBD [central business district] early tenants, CarVal Investors and or out in the ‘burbs. They’re the Catholic Community Foundation of Minnesota HDR, are creating spaces that will ones that are really waiting for Giving Insights Forum on Lay Leadership help draw people back to the office. widespread vaccinations … before Thursday, April 29 | 7 PM - 8 PM “What we’re seeing with returning to the office,” for liability Join national and local Catholic leaders for a free virtual forum groups like CarVal and HDR, reasons. as they discuss the role of lay leadership in parish revitalization. they’re just building really attrac- Gelfman says that big com- ccf-mn.org/forums tive, fun, team member spaces,” panies are gauging the outlook Hennepin Healthcare Redleaf Center Barranco says. “a quarter at a time,” tracking for Family Healing Broker Mike Gelfman, senior government and health care data vice president with the local office and trends. Gelfman focuses on Redleaf Center for Family Healing Celebration of Toronto-based Colliers Inter- suburban office leasing; most of Tuesday, May 4 | 7 PM - 7:30 PM A virtual grand opening celebration of the Redleaf Center for Family Healing. Experience this new healing environment for mental health and parenting support. Surv ey Says: Peopl e Wil l Return hennepinhealthcare.org/redleafcelebrate to the Office in Varying Degrees

St. David’s Center for Child he pandemic has In a September 2020 and Family Development T created a new survey, Steelcase found 32nd Make Them Shine Gala industry of conduct- that 87 percent of global May 15, 2021 | 7 PM ing studies about what the business leaders expect to Join St. David’s Center for Child and Family Development for world will look like after the offer more flexibility about the 32nd annual Gala. This is a virtual event and free to attend. pandemic. Michigan-based “where, when, and how peo- stdavidscenter.org/gala/ Steelcase has studied the ple work.” Steelcase found issue in depth. Why do they that eliminating the com- Nexus Family Healing care? Steelcase is the world’s mute to the office is seen as Building Connections—Virtual Coffee Break largest office furniture the biggest benefit for home Thursday, May 20 | 8 - 8:30 AM manufacturer. workers, while the biggest Join Nexus Family Healing for a free event to see how we’re The company’s “Global downside is the isolation. making a difference for the children and families we serve. Report: Changing Expec- Steelcase surveyed ow.ly/k6xm50DRy4C tations and the Future of employees about how often Living Well Disability Services Work” offers this overview they are expecting to work of what happens next: from home in the future. Tapemark Pro-Am Golf Tournament “While some headlines Only a small percentage June 11 - June 13 suggest the office will go want to avoid the office This tournament benefits Living Well Disability Services away as people embrace altogether. and other organizations that provide services for children working from home almost and adults impacted by disabilities. exclusively, the research tapemarkgolf.org/ 4-5 days identifies a more nuanced, a week hybrid future. Most people 20% 1 day a The Bridge for Youth week or expect to work in the office Bridge Bash 2021 fewer most of the time, but they 2-3 days July 14 a week 54% also expect greater flexibil- An annual celebration of resiliency of 26% ity from their organizations youth, all proceeds further the mission of The Bridge for Youth. going forward.” bridgeforyouth.org/bridge-bash-2021/

7 6 TWIN CITIES BUSINESS | APRIL/MAY 2021

75-78CRE.indd 2 3/29/21 10:46 AM the properties he works on are in Hansen. Her fi rm, with about 50 the western suburbs. Since the fi rst employees, saw only about 25 per- of the year, he says, another defi nite cent were in the offi ce on any given trend has emerged. day by late February. One challenge for companies Shift to suburbs is fi nding ways to make time in “Three-quarters of the prospects the offi ce more “meaningful” for that we’re seeing in the market employees, zumBrunnen says. “I right now are groups that are think the other thing we’re trying downtown tenants that are looking to balance for people is, do you give out to the ‘burbs,” Gelfman says, everybody a work station when noting that public safety concerns they might potentially be there two LEADERSHIP. INNOVATION. PURPOSE. are a bigger factor than Covid fears. partial days of the week?” “They’re more reluctant to return Her fi rm has one client that What does it take to build a business? Change an industry? to the offi ce because of what’s go- is allocating 15 dedicated work Lead with purpose? Twin Cities Business sits down with ing on downtown right now.” stations for employees who will be entrepreneurs and leaders who make business work in The high cost of parking in in the offi ce every day and will offer Minnesota—and beyond. Learn the stories behind some downtown Minneapolis is another another 45 spaces for “hoteling,” a beloved brands, and the ones you’ll want to know next. factor, Gelfman says. Suburban system in which staffers don’t have offi ces have free parking. He says assigned seats. Coming in April—Discover how these founders and others that many companies whose leases Historically, companies may got started and gain insight to apply to your own ventures. expired in 2020 signed short-term have dictated that employees from renewals to buy a little more time key departments had to be in the before making big decisions about offi ce, parked at their desks all day. the future. But working from home under the “A lot of landlords have spent pandemic has changed that belief. time over this winter updating “The other thing we’re go- their building infrastructure to ac- ing to probably be seeing a little commodate these Covid concerns,” bit more is more space designed Gelfman says. That meant adding around personalities versus job touchless door entries and high- descriptions,” zumBrunnen says. fi ltration HVAC systems. “You’re going to have to offer Charlie Youakim Maria Burns Ortiz But there is no single solution remote work to be competitive Founder/CEO Co-founder/CEO that will work for every company. with talent.” Sezzle 7 Generation Games Jim Damiani, executive managing director of the Minneapolis offi ce Employer vs. employee of New York-based Newmark, Jim Vos, principal with the Min- says that space decisions are being neapolis offi ce of Washington, handled on a case-by-case basis. D.C.-based Cresa, says it will be “Everybody’s trying to fi gure it key to reconcile the needs of both out,” Damiani says. employees and their employers. But Damiani has a message “There are two different for all tenants: Build fl exibility into conversations going on. One is all plans for your offi ce space. the employees kind of like working Alex French Dr. Jeremy Friese Damiani, who represents ten- from home, but there’s a sense that Co-founder/CEO Co-founder, Verata Health ants, is telling them, “ ‘Be fl exible the pendulum is swinging back. Bizzy Coffee President, Payer Market, Olive with the design of your space, the They’re fi nding that they miss their furnishings in your space, and your co-workers,” Vos says. After people lease.’ If 20 percent of the people are vaccinated, Vos predicts many SUBSCRIBE NOW! / are at home, maybe you take 10 employees will want to return to tcbmag.com byallmeans percent less offi ce space.” offi ces. Available on iTunes, Spotify, Google Play and most major podcast platforms. “The second conversation Desks for all? is what leadership is saying. They Produced With Support From “I think the big thing that every- miss their teams too. To grow or body is really trying to fi gure out is innovate or collaborate and do what does the new workweek look the things that made them a good like?” says Roslyn zumBrunnen, company before, those things are Sponsored By director of interiors for Wayzata- way harder to do when people based design fi rm Mohagen aren’t together,” Vos says. “I think

APRIL/MAY 2021 | TWIN CITIES BUSINESS 77

75-78CRE.indd 3 3/29/21 10:47 AM TRENDING COMMERCIAL REAL ESTATE

leaders want to see their teams re- with the Minneapolis Downtown connect. I am hearing client leaders Council, which gives everyone a NOW ACCEPTING NOMINATIONS FOR: really push to get people back.” sense of what others are thinking. It’s clear that many companies Vos says, “The unwritten rule right Leaders in Higher Education are likely to operate with a hybrid now is the race to be last in terms model, where workers divide their of inviting people back: ‘We want and Human Resources work time between home and of- everybody else to show us how it’s fi ce. But what will be the ideal mix? done, have their employees make In the August/September issue, TCB will recognize individuals “We’ve had a couple of clients mistakes or get comfortable. We in the fields of higher education and human resources say, ‘I want everybody in the offi ce want to show up at the party fash- who regularly effect change, share expertise, and exhibit the same day.’ Maybe it’s Tuesday, ionably late.’ ” leadership at their organizations and beyond. Wednesday, Thursday we have Despite fears about the super-high participation, and future of downtown Minneapolis, Monday and Friday it’s discretion- Vos says it will remain the easiest NOMINATE TODAY ary,” Vos says. “But if that’s the case, place in the metro to get to by at TCBmag.com/notable you need most of your space.” public transit. Some are saying that the offi ce Says Vos, “Once we get some Deadline: June1 will be where they meet and home momentum back downtown, I is where they’ll work. think it will accelerate.” He notes that human resources directors for many downtown Burl Gilyard is senior writer at companies are regularly meeting Twin Cities Business.

What Happens to Co-Working?

ik e most other corners of the offi ce mark et during L the pandemic, it’ s been a bumpy ride for operators of some co- work ing spaces. C o- work ing companies typically signed standard leases with building landlords and then sold memberships to people look ing for fl ex ible work space. B ut those members don’ t usually have long- term com- mitments to co- work ing companies. F lex ibility is a big selling point. T hat meant that they could drop out with little notice, while co- work ing operators still had rent to pay on leases. H owever, some are still bullish. C hanhassen- based L ife T ime is pressing ahead with plans to open its third local L ife T ime W ork co- work ing space in downtown Minneapolis in early summer. T he 5 3 ,0 0 0 - sq uare- foot space will be its largest co- work ing space yet. “ A lot of people who are at the end of their leases are not going to renew a traditional lease,” J ames O ’ R eilly, president of L ife T ime W ork , tells Twin Cities Business. “ W e actually think there’ s going to be a lot of demand.” A fourth q uarter 2 0 2 0 report from D elaware- based C owork I ntel surveyed the current state of the co- work ing mark et. A ccording to C owork I ntel, the occupancy of co- work ing space plummeted from 7 7 percent in F ebruary 2 0 2 0 to j ust 5 1 percent in J une 2 0 2 0 . T he study identifi ed hopes of a rebound in 2 0 2 1 . T he survey also found that 5 7 .3 percent of co- work ing operators say that they had renegotiated lease deals with landlords. C owork I ntel reported that 2 0 1 7 was the peak year for opening new co- work ing spaces; 1 7 percent of all co- work ing spaces opened that year. T he activity was way down in 2 0 2 0 ; j ust 4 percent of co- work ing spaces opened last year. —B.G.

78 TWIN CITIES BUSINESS | APRIL/MAY 2021

75-78CRE.indd 4 3/29/21 10:47 AM 79Ad.indd 1 3/29/21 9:21 AM OPEN LETTER

Taxing You for the Government-Mandated Shutdown

To: Mr. Mike Hickey Minnesota Director, National Federation of Independent Business 380 Jackson St. Suite 780 St. Paul, Minnesota 55101

ing the Coronavirus Aid, Relief, and California, Ohio, Illinois, New York, do pay increased taxes—and not Economic Security (CARES) Act in New Jersey, and a number of other just income taxes, but property and large part to save our economy, and states, and the District of Columbia, sales tax as well. But there’s another particularly small businesses. The Minnesota’s current plan is to tax problem posed by taxing PPP loan Paycheck Protection Program (PPP) all recipients of PPP loans (with forgiveness—the “hole in the budget” was a major part of this legislation. exceptions such as nonprofits, which problem. It was always part of the legislative don’t pay state taxes). Keep in mind Taxing our small businesses for intent of the CARES Act that these that Minnesota’s maximum marginal PPP loan forgiveness is a one-shot loans would be forgiven and that the corporate income tax rate is already budget enhancement. forgiveness would not be taxed, yet the third highest in the United States, The difficulty with one-shot business expenses would remain tax at 9.8 percent. Minnesota govern- revenue windfalls is exactly that— deductible. they do not reoccur. However, The program was a great suc- the programs paid for do reoccur. cess. In Minnesota, according to Consequently, every year thereafter, Vance Opperman statistics from the Small Business there will be an additional “hole Administration on federalpay.org, Minnesota has already in the budget” that will need to be more than 100,000 small businesses greatly benefited from filled in some manner. It was one of (average size 11 employees) took out the PPP program in Gov. Mark Dayton’s most impressive loans in excess of $11.3 billion to stay reduced unemployment budget reforms that this state finally open (Editor’s Note: TCB’s parent benefits and social got away from artificially balancing Dear Mr. Hickey: company MSP Communications service payments, while our state budget by delaying payment You have alerted your membership, received a PPP loan). As one small avoiding even more dire to school districts until the first day and members of the Minnesota Leg- business executive told the under- economic collapse. of the next biennium. There are state islature, that Minnesota is planning signed, without the PPP loan, “we programs that should be well-funded, to tax all loan forgiveness granted to would not be here today”. and they should be funded by reason- small businesses under the Payroll But a funny thing happened on ment provides many services, one of able and reliable revenue streams, not Protection Plan (PPP). Let’s review the way to the recovery. which apparently includes determin- by budget gimmicks. Taxing PPP loan the absurdity of this situation. The IRS issued regulations ing a person’s “fair share” of taxa- forgiveness is an unfair gimmick. On March 16, 2020, the State indicating that any PPP loan forgiven tion. Efforts to increase taxation are Minnesota government forced of Minnesota, by Executive Order would be treated as taxable income. usually preceded by the phrase “pay many companies to close and now 20-04, made it unlawful for many Congress again reacted to this crisis your fair share.” But no matter how wants to tax them on the funds small businesses to remain open. by amending the CARES Act with you define fairness in this context, expressly authorized on the premise Bars, restaurants, and public venues the passage of the Consolidated Ap- forcing a company to close and then that they would not be taxed. That is of all kinds were required, under propriations Act, signed into law on taxing money specifically authorized not anybody’s “fair share.” penalty of law, to shut their doors Dec. 27, 2020. This law made it clear to rescue employment (and intended Contact your state representa- and cease business as usual. As of that business deductions shall not to be tax-free) can be nobody’s defi- tive and state senator and urge them July, it would have been unlawful for be denied, and that loan proceeds nition of “fair.” to vote against this unfairness. And anyone to walk into a bank without are tax deductible for federal income Proponents of this “unfair good luck with your amended and wearing a mask! These have been tax purposes. This enactment was so share” will argue that the state’s pro- complicated tax returns. truly unprecedented times filled with popular that both Ilhan Omar and jected $52 billion budget needs the unprecedented challenges, and as Tom Emmer voted in favor (as did estimated $438 million that will be Yours in the fight, with all such events, the catastrophe the entire Minnesota congressional generated by taxing PPP loan forgive- Vance K. Opperman was unevenly distributed. Much of delegation). So, while it was clear on ness. Minnesota has already greatly Against “unfair share” taxation that damage was piled on the backs Dec. 27 that the federally guaranteed benefited from the PPP program of small businesses. PPP program would not be taxable, in reduced unemployment benefits Vance K. Opperman Congress reacted to this a more larcenous impulse is running and social service payments, while ([email protected]) unprecedented disaster by enact- through the Minnesota Department avoiding even more dire economic is owner and CEO of MSP of Revenue. collapse. Businesses that prosper and Communications, which publishes Unlike Wisconsin, Iowa, continue to prosper in the future Twin Cities Business.

80 TWIN CITIES BUSINESS | APRIL/MAY 2021

pg 80.indd 1 3/26/21 1:13 PM RACISM IS A CRISIS THAT AFFECTS US ALL.

The impact of systemic racism has taken a damaging toll on the health of our state, impacting the physical and mental health and well-being of thousands of Minnesotans. Organizations statewide have the power to undo decades of damage by taking a hard look at the policies and practices that affect so many employees and stakeholders.

Make it your business to learn, refl ect and change at BlueCrossMN.com/HealthEquity

Blue Cross® and Blue Shield® of Minnesota and Blue Plus® are nonproﬁ t independent licensees of the Blue Cross and Blue Shield Association.

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