320-763-3161
ALEXANDRIA LAKES AREA CHAMBER OF COMMERCE | ALEXANDRIA, MN
  • Chamber
    • About Us
    • Chamber Team
    • Board of Directors
    • Committees >
      • Alexandria Area Young Professionals
      • Chamber Ambassadors
      • Finance Committee
      • Personnel Committee
      • Government Affairs
      • Grow Minnesota
      • Membership Team
    • Newsletter
    • Visitor & Resource Center
    • Do Business Local >
      • Chamber Bucks
      • Pride of the Lakes
    • #CommitToKindness
  • Visit Here
    • Lodging
    • Food & Drink
    • Fishing
    • Things to Do
    • Shopping
    • Find Us
  • Live Here
    • Relocate
    • Jobs
    • Education
    • Health Care
    • Economic Development
    • Government
    • Senior Services
    • History
  • Events
    • Chamber Events/Programs
    • Community Calendar
  • Members
    • Member Directory
    • Member Benefits
    • Join Us!
    • Member Login
  • In the Know
    • Blog
    • Email Sign Up
  • Resources
    • Community Resources
    • Event Resources
  • Chamber
    • About Us
    • Chamber Team
    • Board of Directors
    • Committees >
      • Alexandria Area Young Professionals
      • Chamber Ambassadors
      • Finance Committee
      • Personnel Committee
      • Government Affairs
      • Grow Minnesota
      • Membership Team
    • Newsletter
    • Visitor & Resource Center
    • Do Business Local >
      • Chamber Bucks
      • Pride of the Lakes
    • #CommitToKindness
  • Visit Here
    • Lodging
    • Food & Drink
    • Fishing
    • Things to Do
    • Shopping
    • Find Us
  • Live Here
    • Relocate
    • Jobs
    • Education
    • Health Care
    • Economic Development
    • Government
    • Senior Services
    • History
  • Events
    • Chamber Events/Programs
    • Community Calendar
  • Members
    • Member Directory
    • Member Benefits
    • Join Us!
    • Member Login
  • In the Know
    • Blog
    • Email Sign Up
  • Resources
    • Community Resources
    • Event Resources

minnesota at risk of losing its innovators

1/8/2019

0 Comments

 
By Tara Bitzan, Executive Director, Alexandria Lakes Area Chamber of Commerce
     The Minnesota Chamber of Commerce recently released the 2019 Business Benchmarks. This annual report compiles key indicators that define our business climate – where Minnesota ranks compared with other states – to identify strengths and areas for improvement for Minnesota to compete in the global economy.
     Key findings of the data compiled from state and federal agencies shows that innovation is a key strength of Minnesota, and the state continues to make progress in infrastructure improvements – an important factor in the ability to compete in a global marketplace. Minnesota is ranked first in business five-year survival, second in labor participation rate, fourth in number of residents with two  year degrees or higher, fourth in patents per capita and fourth in technology and science workforce.
     Those are exciting numbers and definitely a source of pride for our state. However, there are other numbers that are overshadowing these – numbers that can and must be controlled so that we can allow our innovation and shining workforce to help us flourish.
     The state’s economy is growing at a slower pace than many other states and we remain in the top five states with the highest tax rates for both corporate and individual taxes. Minnesota ranks third highest in corporate income tax, fourth highest in business and entrepreneurship tax index, fifth highest in pass-through and individual income tax rates, ninth highest in overall state and local taxes per capita and second highest in unemployment tax.
     Along with the state’s high taxes, a tight labor market is posing a significant problem statewide. Sixty-nine percent of employers in 2018 – versus 18 percent in 2010 – cited the ability to find workers as a key concern through the Minnesota Chamber’s Grow Minnesota Partnership. Job vacancies exceed the number of job-seekers in the state. Although 2017 was the first year since 2001 that Minnesota had more people moving into the state, the impending labor shortage – expected to hit 239,000 by 2022 – makes it more critical that Minnesota keep and attract skilled workers, work to get people back into the labor market and prepare students for jobs of the future. Minnesota remains in the middle of the pack for overall cost of living, but shortages in child care and workforce housing are issues that impact our ability to attract people.
     The many newly elected officials on deck as the Minnesota Legislature soon convenes will definitely face some challenges. To ensure Minnesota stays competitive and moves in the right direction in these business benchmark rankings, our officials need to enact pro-growth reforms to reduce taxes on both individuals and businesses so that people want to operate businesses here.
     Protecting the rights of employers to develop wage and benefit packages that best suit the individual needs of companies and employees needs to be a priority, as does ensuring affordable, quality health care by limiting government’s role and enhancing the ability of private employers to provide insurance to employees and ensuring that public health programs are sustainable. Private-sector workforce efforts should be supported to help employers attract and retain skilled workers.
     There are some major hurdles to overcome, but they can be accomplished. If they aren’t, Minnesota stands to lose those businesses that currently put us in the spotlight as an innovation state.

     The Alexandria Lakes Area Chamber of Commerce joins more than 40 other local chambers and the Minnesota Chamber of Commerce to unify around a common advocacy agenda for Minnesota businesses statewide. This collective voice, representing tens of thousands of businesses across the state, amplifies our members’ priorities with state policy leaders.

0 Comments



Leave a Reply.

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018

    Categories

    All
    Blog Post
    Spotlight Videos
    Testimonial

    RSS Feed

Copyright Alexandria Lakes Area Chamber of Commerce.  All Rights Reserved.
206 Broadway St.  Alexandria, MN 56308
320-763-3161 
info@alexandriamn.org

refund & privacy policy
Accessibility
Picture
Pride of the Lakes Logo
Alexandria Lakes Area Chamber of Commerce BBB Business Review