Financing Expert Alec Sohmer Discusses Business Expansion Boom in Minnesota

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In response to an article published by Twin Cities Business, which details new business expansions in Minnesota, financing expert Alec Sohmer says business expansions could help Minnesota add more jobs and stimulate the state’s economy.

Financing expert Alec Sohmer comments on an article published by Twin Cities Business, which discusses new business expansions in the state of Minnesota.

According to an article published by Twin Cities Business on August 27 titled “Report: New Biz Expansions Add 1,500 MN Jobs,” a new report from the Minnesota Department of Employment and Economic Development found that the 40 new business expansions announced in the second quarter will add up to 1,500 jobs in the state. Since the beginning of the year, the article says there have been more than 80 business expansions in the state.

One of the key projects is Emerson Process Management Rosemount. The article says this company “makes pressure, temperature, flow, level and safety measurement products for industrial customers and is adding up to 500 new jobs as it invests $70 million in a 500,000-square-foot building addition in Shakopee, MN.”

Alec Sohmer, a financing specialist and managing director at Plymouth Rock Capital, notes that while the report does not account for lost jobs, it does show that employers in the state have been making strides to create new jobs. “The employment rate in the state has stayed a static 5.2 percent,” he says. “Businesses have added over 4,000 jobs just in the month of July. This is amazing progress for a state that was hit hard by the economic crisis. It is the perfect time for businesses to invest in expansions. Businesses are doing well here and it’s definitely an indication that the economy is slowly standing back up after a hard fall.”

Alec Sohmer, a strategic business and financing leader from Plymouth Rock Capital, has 20 years of Board-level experience. He has served in many interim management positions for businesses requiring significant turnaround or restructuring. He is able to increase revenue streams by utilizing a variety of line management techniques. In his two decades of experience, he has dramatically increased revenues of businesses by identifying untapped markets.

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since: 08/2013
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