New Market Bank Named Employer of Excellence by Dakota-Scott Workforce Development Board



New Market Bank Named Employer of Excellence by Dakota-Scott Workforce Development Board


10 winners chosen from Dakota and Scott counties


ELKO NEW MARKET, Minn., May 18, 2021 – Local, family-owned New Market Bank with locations in Lakeville, Prior Lake and Elko New Market, was recently named one of the area’s Employers of Excellence by the Dakota-Scott Workforce Development Board. The bank was one of 10 area organizations recognized based on employee retention, compensation and training practices.


The Workforce Development Board sought to recognize some of the best employers in Dakota and Scott counties and provide vital information to companies about the practices they use to attract and retain employees.


Each participant completed a 40-question survey that allowed their employment practices to be analyzed by a consulting firm. Every organization participating in the survey received a 20-page report detailing the information on their company and the results of the survey. Employers were evaluated on numerous metrics.


Key factors for the organization included:

  • Training program participation.
  • Growth rate.
  • Long-term disability program participation.


Innovative practices included:

  • Health Savings Account that is matched 1:1 up to $1,000 for the employee and $2,000 for family.
  • Personal Time Off (PTO benefits) including regular PTO, Purchased PTO and a PTO Donation Bank, which can help employees that are in need.


Program sponsors included Dakota County Community Development Agency, Scott County Community Development Agency, Inver Hills Community College and Dakota County Technical College.


The complete list of Employers of Excellence includes:


Small Employer (Under 50 Employees)

  • Bankers Equipment Service, Burnsville
  • Diedrich RPM, Burnsville
  • Midwest Industrial Coatings, Shakopee
  • New Market Bank, Lakeville

Mid-Size Employer (50-200 employees)

  • Apothecary Products, LLC, Burnsville
  • Carlson Capital Management, Hastings
  • Dakota Electric Association, Farmington
  • Hydra-Flex, Inc., Savage


Large Employer (Over 200 employees)

  • Entrust, Shakopee
  • Prime Therapeutics, Eagan


Link to awards video:  EE4Final.mp4 - Google Drive


About New Market Bank
Founded in 1905 as the First State Bank of New Market, New Market Bank is an independent, fourth-generation, family-owned bank serving the southern Twin Cities area with offices in Lakeville, Prior Lake and Elko New Market. For over 100 years, New Market Bank has provided banking as easy and sincere as a handshake. New Market Bank is an Equal Housing Lender, Member FDIC. For more information, visit www.NewMarket.Bank.


Media Contact: Amy Nugent, 651.450.9222 or