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State Representative Carly Melin
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-0172
For more information contact: Jenny Nash 651-296-4122
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Rep. Melin nominates Chisholm businessman Scott Allison - President, CEO and co-owner of Minnesota Twist Drill - for White House Business Leaders Briefing
(ST. PAUL, MN) - President Obama’s economic advisors will meet on March 13th with Minnesota business leaders at the White House to discuss successful, proven business models that create jobs and develop business. Scott Allison, President, CEO and co-owner of Minnesota Twist Drill in Chisholm, will be among those in attendance.
Minnesota Twist Drill is one of just four manufacturers of drill bits left in the country. Founded in the late 1960s as Mesabi Drill, the high-speed steel drill bit manufacturer underwent several ownership changes before a local group of investors reorganized the company in 2003.
“When the White House was seeking participants in the Business Leaders Briefing, I immediately thought of Minnesota Twist Drill," stated Rep. Carly Melin. “The six working co-owners, Scott Allison, Terry Bergum, John Dosen, Jim Fena, Paul Janssen, Al Lambert and Jon Larson, led the company from sales of $4,000,000 in 2003 to sales of near $25,000,000 in 2011 and the number of employees went from 62 to over 130. This is impressive especially with all the overseas competition,” said Rep. Melin.
“Minnesota Twist Drill is a great example of a U.S. company that found incredible growth and success by adopting a new business model. We owe a lot to our employees. We have a very tight knit team. Experienced and dedicated employees are a big reason why our company has remained competitive in a market of continued pressure from foreign imports,” stated Allison.
In 2008, Minnesota Twist Drill received the prestigious Joel Labovitz Emerging Entrepreneur award from the University of Minnesota’s Center for Economic Development.
“I think it will be beneficial for the White House to hear how Minnesota Twist Drill adapted to a unique business model and was able to retain and grow jobs on the Iron Range,” concluded Melin.
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