Photos By Karen Downing
On Friday, March 27th, the Detroit Lakes Regional Chamber of Commerce hosted its Annual Economic Development Summit at the Historic Holmes Theatre. The event brought together local business leaders and community members for breakfast and a morning of presentations focused on the state of the economy, the labor market, and major projects happening in Detroit Lakes and Becker County.
One of the featured speakers was Erick Garcia Luna, Regional Outreach Director at the Federal Reserve Bank of Minneapolis. Garcia Luna explained how the Federal Reserve operates and shared an overview of current economic trends. He noted that employment growth across Minnesota – especially in Becker County and the Detroit Lakes area – has been driven largely by jobs in health care and social services. He also said inflation has come down somewhat, but remains stubbornly high.
Anthony Schaffhauser, regional analyst for Northwest Minnesota Department of Employment and Economic Development, spoke about the labor market in Becker County. Schaffhauser said unemployment currently stands at about 4.4 percent, roughly the same level the area experienced before the pandemic. He also discussed challenges businesses face in recruiting and retaining workers.
Detroit Lakes City Administrator Kelcey Klemm highlighted several major projects underway in the community, including the new water tower, improvements along West Lake Drive, work at Washington Ball Park, and updates planned for the city pavilion. Klemm noted that the city beach will remain open throughout the summer, although sections will be worked on in phases to allow businesses to continue operating and visitors to enjoy the area.
Additional presentations were given by Detroit Lakes Economic Development Director Hope Williams, Becker County Administrator Carrie Smith, Frazee Economic Development Director Joe Tonihka, representatives from the Becker County Trails Collaborative, and members of the Compass Young Professionals Network.
Story and Photos By Karen Downing