GF Enterprise Information: Client spending…new GF eating places & tourism

American consumers absorbed another price hike in May – an increase of 0.6% last month and 5% last year, the biggest 12-month inflation spike since 2008, a growing demand as people re-open quickly The economy is increasingly shopping, traveling, dining out and attending entertainment events. The increased appetite of consumers is meeting with a shortage of components, from wood and steel to chemicals and semiconductors.

Mortgage rates stayed near historic lows this week. The benchmark 30-year home loan held below the 3% mark amid further signs of economic recovery from the pandemic recession. Mortgage buyer Freddie Mac reports that the average for the 30-year lending rate has fallen to 2.96% from 2.99% last week.

The Grand Forks Council will be reviewing liquor license applications for two new restaurants on Monday. La Cantina Tex Mex Cuisine plans to move to the former El Rocco site at 1730 13th Avenue North. According to the employee report, LaCantina currently has locations in Mayville and Grafton. The other license application is for the House of Punjab at 3000 32nd Avenue South.

The North Dakota Department of Human Services announced that it is running a cooling aid program for skilled low-income households through September 2021. The cooling aid is aimed at adults aged 60 and over and other people with qualifying illnesses. The low-income Home Energy Assistance Program serves households with an income of up to 60 percent of the national median income. A household of two can earn up to $ 41,118 per year and qualify for LIHEAP.

The state-owned Bank of North Dakota reported profits of $ 141.2 million in 2020, up from $ 169 million in 2019, with a return on investment of 15%, according to the Industrial Commission. Last year, the bank’s total loan portfolio increased slightly to $ 4.7 billion. The agricultural loan portfolio increased by $ 116 million, mainly due to the Ag disaster relief program. The business loan portfolio increased $ 194 million, with the majority of that growth attributable to COVID-PACE Recovery I loans.

North Dakota Governor Burgum has signed a $ 20 million investment for Vantis to help expand the nationwide UAS network. Vantis Executive Director Nick Flom says the funding will help expand the state’s UAS network to include Cass … Trail … and Grand Forks counties. In addition to the $ 20 million, Flom said an additional $ 7 million will go to Grand Sky Tech Park and $ 3 million to the Northern Plains unmanned test site.

American Airlines says it will invest in a company that is working on a small, electrically powered airplane that could one day take people from city centers to airports by taking off and landing vertically like helicopters. American announced Thursday it would invest $ 25 million in UK company Vertical Aerospace, which plans to sell shares to the public later this year. Americans estimate a “pre-order” for up to 250 vertical planes at $ 1 billion.

The U.S. government’s highway safety agency approved a motion from General Motors to recall four vehicle brands from 2021 due to a defective airbag warning light. The National Highway Traffic Safety Administration said Friday that the cars in question are the Buick Envision, Cadillac CT4 and CT5, Cadillac Escalade and Escalade ESV, Chevrolet Corvette, Suburban and Tahoe, and GMC Yukon and Yukon XL.

The Grand Forks JDA has agreed to deposit $ 10,000 to the Rendezvous Area Tourism Council. The goal of the RRTC is to market and market tourism for Northeast North Dakota. One of the goals for 2021 is to further develop a marketing and long-term action plan. The Grand Forke CXVB is hitting an additional $ 5,000. The region serves the counties of Grand Forks, Nelson, Walsh, and Pembina.

After the 2020 cancellation, the organizers of the WE Festival in Detroit Lakes will be upgrading the facility ahead of the festival in August. The general entrance area will be larger and will be 60 meters closer to the main stage. the stage is updated to improve sight lines; the saloon is open to all ticket holders and a new deck has been added; and additional dining options will be available this year. The WE Fest will be held August 5-7 at the Soo Pass Ranch in Detroit Lakes, headlining Florida Georgia Line, Dierks Bentley and Blake Shelton with special guest MC, Kellie Pickler. (For tickets to the event, visit Forks Deals on the KNOX website)

Jacob Isaacs, Ph.D. Joins Crookston Campus as the new Director of Academic Success and Academic Advice. Prior to arriving last week, Isaacs was the Assistant Director of Student Life Residential Education Research and Communication at Purdue University, West Lafayette, Indiana.

Minnesota State’s 30 colleges and seven universities waive application fees during Minnesota State Week June 21-25, 2021. All Minnesota state colleges and universities have special briefings and introductory campus tours online during the week, and all Minnesota state colleges and universities waive their application fee.

In the final days of the recent North Dakota legislature, lawmakers approved access to nearly $ 352 million in federal funding to convert the state Emergency Rent Bridge (ERB) into a more comprehensive rental support program. Called ND Rent Help. The program’s income eligibility has increased from 60% Area Median Income (AMI) to 80% AMI, equivalent to an annual income of up to $ 80,000 for a family of four, depending on the district in which they are located.