“Whether on durable goods, food or toys for our grandchildren, we are looking for value. The same principle translates to commercial real estate sales. Your property doesn’t have to be an A-plus site, but it needs to be priced accordingly.”

Lidstrom said Blue Earth and Nicollet counties remain in better shape overall because of the diversity of the economy.

Lidstrom said they are doing a variety of things to move property in a slow economy. “Regular advertising in various print media, Internet sites and involvement with trade organizations all help to get the word out about opportunities in our area.”

Higher ed bracing
With the state’s deficit possibly in the $6 billion range by the time the revised February forecast comes, colleges and universities know a big hit is coming.

“We expect a 7 to 15 percent cut,” said Richard Davenport, president of Minnesota State University.

It is estimated MSU’s local economic impact is about $377 million annually.

Keith Stover, president of South Central College, said they are looking at options for the expected budget cuts. “We’re in the planning mode and we know it’s going to be tough on any college or university in the system.”

But Stover said cutting higher education comes at a time it is more needed than ever.

“In an economic downturn it’s more difficult to find a temporary job, so that sends more students to college. That requires more resources not less,” Stover said. “Higher ed is the real answer to the economic recovery of our state.

“With the economy dropped, we have an opportunity to upgrade skills so people can go back into the jobs that are hot, where there is growth. There are companies growing right now, even though many are struggling,” Stover said.

Davenport said unlike state cuts of a few years ago that were largely offset by double-digit tuition increases, no one wants to look to students to cover budget cuts.

“The tuition increases will probably be in the 2 to 3 percent range,” Davenport said. “None of the presidents, the (MnSCU) board or the public has the stomach for tuition increases.”

Davenport said reductions in travel and other cuts also are likely on campus. Because of union contracts, reducing faculty, he said, is very difficult unless a campus gets to a certain financial deficit threshold.

“We have no hiring freeze yet, but that may come,” he said.

SCC has about 5,600 students on its North Mankato and Faribault campuses and expects enrollment to grow about 5 percent this year.