Minnesota Power breaks ground on a modernization project in northeastern Minnesota. 3M signs a<br>long-term supply agreement with Airbus, strengthening its role in the aerospace supply chain. Later,<br>Minnesota Chamber President and CEO Doug Loon reflects on the upcoming 250th anniversary of the<br>United States.

Minnesota Power breaks ground on a modernization project

The Minnesota Business Podcast

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**Podcast:** The Minnesota Business Podcast

## Transcript

Minnesota Power broke ground on a modernization project in northeastern Minnesota. 3M signs a long-term supply agreement with Airbus, strengthening its role in the aerospace supply chain. Later, Minnesota Chamber President and CEO Doug Loon reflects on the upcoming 250th anniversary of the United States. It's Friday, June 26, 2026. I'm Emma Jurgis, and this is the Minnesota Business Podcast.

Here are this week's business headlines. Minnesota Power broke ground on a $900 million modernization project that will upgrade a key high-voltage direct current converter station serving northeastern Minnesota. According to reporting by WDIO, the investment is designed to increase system capacity, improve reliability, replace aging infrastructure dating back to the 1970s,

and continue delivering renewable wind energy from North Dakota to homes and businesses across the region. The project represents one of the largest energy infrastructure investments in northern Minnesota and is expected to support economic activity through construction jobs, new technology deployment, and increased local tax-based contributions. Company officials said the project has received approximately $75 million in state and federal grant support and will employ roughly 100 workers during peak construction.

3M has recently signed a long-term supply agreement with Airbus to provide thermal and acoustic insulation materials for the A220 aircraft program. The partnership expands a long-standing relationship between the two companies and supports efforts to improve cabin comfort, reduce noise, and enhance aircraft performance. The agreement highlights Minnesota's role in the global aerospace supply chain,

with Maplewood-based 3M supplying advanced materials for one of the aviation industry's fastest-growing aircraft programs. Airbus continues to increase production to meet long-term demand for more fuel-efficient aircraft, while the deal reinforces 3M's position in the aerospace sector, which contributes to the company's transportation and electronics business and supports Minnesota's advanced manufacturing economy.

Anderson Corporation has expanded its Twin Cities footprint with the purchase of an 80,000-square-foot office and warehouse property in New Brighton for nearly $9 million. The acquisition includes more than 11 acres of land and will support the company's retail operations and future growth in the metro area. The investment reflects continued business expansion by one of Minnesota's largest manufacturers.

Founded in 1903 and headquartered in Bayport, Anderson generates an estimated $3.6 billion in annual revenue and ranks among the state's largest manufacturing companies. Downtown Minneapolis property owners are increasingly positioning data centers as a redevelopment option for underutilized office buildings, as vacancy levels remain elevated and commercial property values continue to adjust....

Minnesota Power breaks ground on a modernization project

Transcript

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Minnesota Power breaks ground on a modernization project

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.