Tuesday, April 02 2019
By Kevin McKinnon Deputy Commissioner of Economic Development
Minnesota grew its economy and invested in its communities throughout 2018. The state saw over 225 business expansions, made key investments in the future of its startup ecosystem and consistently ranked in the top 10 across multiple metrics of success and economic health. State and business leaders are making the investments necessary to continue and expand this growth for years to come.
Per capita, the Twin Cities ranks first in Fortune 500 companies and Minnesota ranks third (2018). The state also ranks third best in the nation in its five-year business survival rate.
Meanwhile, Minnesota continues to grow its educated workforce. The state is first in the nation for percentage of population with high school diploma or higher, with 93.1 percent having a diploma. Minnesota is also tenth in the nation for the percentage of the population with a bachelor’s degree or higher, with 36.1 percent having a college degree.
Friday, March 23 2018
Investments and programs have positioned Minnesota as one of the top places in the country to do business.
By Kevin McKinnon, Deputy Commissioner of Economic Development
Bold North, the tagline for Super Bowl-LII in Minneapolis on February 4, was a nod to Minnesota’s fierce embrace of all things winter. Minnesotans love their cold-weather sports, winter festivals and ice castles. Cold is cool in Minnesota.
But the theme also spotlights the Minnesota ethos of risk-taking, innovation and resolve. Nowhere is that bold approach more evident than in the economy. State and business leaders are making investments and creating programs that have positioned Minnesota as one of the top places in the country to do business.
Don’t just take our word for it. Financial news and commentary website 24/7 Wall St. last year named Minnesota the Best-Run State in the Nation, citing the state’s low unemployment rate, high credit rating strong household income and low poverty rates.
Tuesday, March 28 2017
Minnesota may be the "Land of 10,000 Lakes," but it is also the Land of Opportunity for companies and small businesses that are looking for the perfect spot to lay roots and grow.
The state has been booming since the end of the Great Recession, adding nearly 300,000 jobs and drawing scores of new ventures attracted to Minnesota’s positive business vibe and venerated workforce.
Minnesota consistently rates among the top states when it comes to business activity. CNBC ranked Minnesota fourth overall in its 2016 list of "America’s Top States for Business," citing the state’s quality of life (second), education (second), infrastructure (fifth) and technology and innovation (ninth).
The 24/7 Wall Street financial news website rated Minnesota second on its 2016 list of best-run states, pointing to such criteria as low rates of unemployment, poverty and debt per capita. WalletHub last year named Minnesota the best state for women, based on factors such as female earnings, unemployment rates, business ownership and life expectancy.
Wednesday, March 16 2016
The Minnesota economy has been surging since the end of the Great Recession, with employers adding nearly 230,000 jobs. Companies are expanding and others are moving operations into the state, attracted by Minnesota’s positive business climate and strong workforce.
State programs that encourage business expansion are making a difference, too. When Andersen Corp., a window and door maker that has been operating in Minnesota for more than a century, announced a $45 million expansion last year, CEO Jay Lund said state support was crucial in making the project happen.
The company tapped Minnesota’s new Job Creation Fund, which awards grants for corporate expansion projects in exchange for job and investment commitments.
“While we had many options on where to locate this production facility, there were compelling business reasons to expand in our home state of Minnesota,” Lund said. “The support we received from the state made a difference and is greatly appreciated.”