Agenda - Economic Development Authority - 01/10/2013

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0 Retargeted Startup's cancer -fighting plan didn't work, so it goes fishing. InnovationMN 16 INDEX ON PAGE 3 4 N 470 9 70.2rr9 BYJOHN VOMHOFJR. STAFF WRITER When the founders of Urban Organics first visited the old Hamm's brewery on the east side of St. Paul a year ago, the long -vacant building was in disrepair. The walls were cov- ered with graffiti and there were piles of trash Lett behind by homeless peo- ple who had been living there. "You should have seen it. It was a nightmare," said Fred Haberman, a local public relations executive who is part of the Urban Organics team. But Haberman and his partners saw potential in the 105-year-old build- ing, and they're now transforming it into an indoor, urban farm. Most of Promise of dahien BY SAM BLACK STAFF WRITER An expected boom in data -center construction in the Twin Cities has been slow to materialize despite all it has going for it — prepped sites, gov- ernment incentives and favorable na- tional trends. Three large data center projects — in Washington, Carver and Dakota counties — have been proposed by developers, but haven't moved be- yond the marketing stage because hasn't been enough demand, tle 41711:- been cleaned up, and by ; ! there will tanks full of tilapia .uteri racks lined with fresh lettuce and herbs. Urban Organics will use an agricul- tural technique known as aquaponics, a symbiotic marriage of aquaculture (raising fish in tanks) and hydropon- ics (growing plants in water). The PROVIDED BY COLLIERS INTERNATIONAL I MINNEAPOLIS-ST. PAU M. A. Mortenson has proposed this 125,000-square-foot data center in Chaska, but it won't break ground without a tenant: even with the help of 2011 tax breaks The 2011 law exempts companies passed by the Legislature aimed at from paying Minnesota sales tax on landing such projects. all purchases of equipment for any New aces at corporate hoards raise costs BY TOM SMITH AND JIM HAMMERAND STAFF WRITERS Four Minnesota companies in- creased pay to their boards by more than 25 percent in their last fiscal year, largely to bring on fresh talent. The biggest increases were atValueVision Media Inc. and Northern Oil and Gas Inc. On the other hand, several public -company boards dropped members, including Best Buy Co. Inc. and lrnation Corp., and consequently paid less in compensation. Overall, thetotal compensation represented on the Minneapolis/St. Pail Business Journal's annual Top 25 list of the highest -paid corporate boards rose by 6 percent this year. A more significant trend, however, is the sharp rise in board pay at the top and drop-off at the bottom. Overall, 16 companies gave pay in- creases to their boards, and nine paid less. Furthermore,15 of the 25 report- ed at least one departure during the fiscal year we studied. That 60 percent ratio tracks with national numbers compiled by Equilar. A majority of the S&P 1,50.0 companies it studied (781 BOARDS I PAGE'9 nutrient -rich wastewater from the fish will be pumped to the produce growing on the racks above, and the plants then act as a filter for the water before it returns to the fish tanks. FARM i PAGE 23 new or refurbished data center that involves at least 30,000 square feet of space and $50 million in investment. So far, no projects have been able to meet those thresholds. The first big deal to be announced was in November 2011, when Charlotte, N.C.-based Five 9s Digital said it would develop a $75 million to $100 million, 138,000-square-foot data center in Eagan that would open in the third quarter of 2012.. Five 9s let its option expire in August DATA CENTERS I PAGE 23= SHOP -A -LOT As undeveloped land in metro area dwindles, developers look for new solutions in old outlots. Special Report 112 Providing the people to power technology. We are specialists in interim staffing, search and contingent workforce management. TECHNOLOGY SERVICES' warets.com e 612.373.5747 DIgfta! People ! Hu7ter Pr..