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2040: Minnesota’s Economic Promise

Posted on July 19, 2012 at 8:00 AM
Categories: Economy, Greater Minnesota, Jobs

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Metropolitan Council’s recently released growth forecasts are premised on analysis and modeling of the metro area’s economic strength, and regional position within a larger, world economy. The analysis suggests a very balanced industry mix, good labor supply across a complete range of occupations, and competitive strength in several high-value industries.  All of this suggests good prospects for economic and employment growth over the next three decades. 

The Council forecasts an employment gain of 570,000 jobs, up from 1,548,000 in 2010 to 2,118,000 in 2040. The Council anticipates employment growth will range from 13 percent in the current decade to 9 percent in the 2030s. This growth contrasts with a net employment loss experienced during the 2000s.
For more background on the Metropolitan Council’s projections for the metro area through 2040, click here.

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2040: The Changing Face of Minnesota

Posted on July 17, 2012 at 2:04 PM
Categories: Economy, Greater Minnesota, Jobs

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The Minneapolis-St. Paul area’s population will grow in two ways in the coming decades: it will grow in size, and it will grow in diversity.

The Metropolitan Council has predicted that by 2040, the population of the Twin Cities Metropolitan Area will grow by 893,000 people to a total population of 3,743,000, and that 43% of residents will be people of color in 2040 – up from 24% in 2010. The region’s Hispanic population is expected to nearly triple, from 168,000 in 2010 to 479,000 in 2040.

The region will also see a more diverse student population. The population of color under age 25 will double in size by 2040 up from 335,000 in 2010 to 676,000. This change will then be reflected in Minnesota’s workforce as that population moves from school into the job market further down the road; likewise, the workforce by 2040 will reflect the diversity of today’s under-25 population.


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Minnesota Moving Forward into 2040

Posted on July 10, 2012 at 1:06 PM
Categories: Jobs, Economy, Greater Minnesota

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The Minneapolis-St. Paul metro area is going to grow a lot in the next few decades, and Governor Dayton is proud to be leading Minnesota into a new era of increased output, population, and diversity.

According to demographic changes projected by the Metropolitan Council, the Twin Cities metro area will see substantial growth in overall population, population diversity, economic output and jobs  over the coming three decades.

The Council projects that by 2040, the greater Minneapolis-St. Paul metro area will grow by 893,000 people, to a total of 3,743,000, and that 43% of the metro population will be people of color (up from 24% in 2010). This is a slower growth rate per decade – at roughly 9 or 10 percent – than the 15 percent the metro area witnessed in the 1980s and 90s.


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Women's Living Room Discussion on Health Care

Posted on June 25, 2012 at 4:10 PM
Categories: Economy, Reform, Health

On March 23, 2012, Governor Mark Dayton, U.S. Department of Health and Human Services Secretary Kathleen Seblius, U.S. Senator Al Franken, and Congresswoman Betty McCollum attended a roundtable discussion with women and mothers to discuss how the health reform law, the Affordable Care Act, has put Americans back in charge of their health since it was signed into law two years ago.


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National Dairy Month

Posted on June 25, 2012 at 1:52 PM
Categories: Agriculture, Health, Economy

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For over 70 years, National Dairy Month has been celebrated in the United States during the month of June to recognize the important role dairy plays in our nation. In the infographic above you can see some of the most important benefits dairy has for Minnesota, or, for more information, visit the website of the Midwest Dairy Association.


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Online tax payments by credit card become cheaper and easier for Minnesotans

Posted on June 25, 2012 at 8:00 AM
Categories: Economy, Reform

Beginning July 1st, Minnesota residents paying their taxes online by either credit or debit card will find the process easier, thanks to a change being implemented by the Minnesota Department of Revenue.

This is thanks to a new vendor—and new website—being used by the department to handle these payments. The new site, www.payMNtax.com, is run through Value Payment Systems, and features a digital time stamp to guarantee accurate records, an email reminder option to schedule future reminders for upcoming tax payments, and, eventually, an automatic scheduling option to ensure that taxpayers never miss their payments.


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Lieutenant Governor Yvonne Prettner Solon has "Lunch on the Avenue"

Posted on June 15, 2012 at 2:15 PM
Categories: Commerce, Lt. Gov. Prettner Solon, Economy, Transportation

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This past Tuesday, June 12, Lieutenant Governor Yvonne Prettner Solon showed her support for University Avenue’s locally-owned businesses when she attended “Lunch on the Avenue” at Ngon’s Bistro. Lieutenant Governor Solon met with business leaders from the Midway area including Midway Chamber of Commerce Board Chair Paul McGinley and representatives from the Minnesota Department of Employment and Economic Development (DEED) and the Met Council. Others who attended include Robert McPherson, an insurance risk consultant with Western Insurance Agency in St. Paul and Chris Ferguson, President and CEO of Bywater Business Solutions in Minneapolis.


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China Trade Delegation: Agriculture Profile

Posted on June 12, 2012 at 10:15 AM
Categories: Agriculture, Economy, Trade Mission

 As Governor Dayton leads the state’s trade mission to China June 8-June 17, he is joined by many businesses and organizations representing Minnesota agriculture. China is the state's top foreign market for agricultural commodities and related food products, accounting for more than a quarter of Minnesota's agricultural exports. Agricultural businesses, food service companies, and other farming organizations join the larger delegation with the goal of fostering trade relations between Minnesota and China.

Among the farming companies that compose the delegation is Knewtson Soy Products, a family owned and operated farm in Good Thunder, Minnesota that exports 90% of their soybean production to food and feed manufacturers, with customers in several Southeast Asian countries.  Additionally, Hastings Co-op Creamery, a 98-year-old company currently marketing milk and milk products for 105 dairy farmer members/owners, and Superior Feed Ingredients, a company based in Waconia, will also join the Governor as members of the delegation.

Also included in the delegation are key members of the food service industry, such as Dombrovski Meats, based in Foley, Minnesota, a family owned company, wholesale manufacturer, and national distributor of the highest quality meat products [see featured profile below]; Midwest AG Enterprises, Inc., a Marshall-based manufacturer and supplier of high quality feed ingredients for the livestock industry in China; and Michael Foods, the world’s largest egg  processing company, based in Minnetonka, whose newest facility is located near Beijing.


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Why Trade Missions are Good for Minnesota

Posted on June 08, 2012 at 10:31 AM
Categories: Agriculture, Commerce, Economy, Environment, Trade Mission

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Today, Governor Dayton will lead a delegation on a ten-day trade mission to China, traveling to Beijing, Shanghai and Xian (the capital of Shaanxi Province) for market and industry briefings, business match-making events, networking events and meetings with key U.S. and Chinese government officials. The 50-member group of business, industry, education and government leaders will attend market and industry briefings, networking events, and meetings with key U.S. and Chinese officials.

The delegation will also host multiple receptions for top Chinese government officials and business executives to showcase Minnesota companies and export industries, as well as promote the state as an ideal destination for direct investment by China. Minnesota has had an official relationship with China since signing the sister-state agreement with Shaanxi Province in 1982.

As the trip unfolds, the Governor’s office will be covering the delegation in a special blog series that explores how trade missions foster new relationships via commerce, agriculture, trade, and the environment. You can get daily updates on the delegation by signing up for our e-mail list, checking back on the blog, or following Governor Dayton on Twitter and Facebook. We will showcase highlights of the delegation, highlight our sister-province relationship, and post photos of the Governor’s meetings across the state. We hope that you will travel along with us as the Minnesota delegation embarks on its trade mission across China.


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Minnesota: a great place to do business

Posted on May 08, 2012 at 1:55 PM
Categories: Commerce, Economy

In a recent Pioneer Press editorial, Commissioner of Revenue Myron Frans writes that "The primary concern for state policy makers and business leaders should be our state's overall business climate and economic prosperity.”

Minnesota ranks among the top places to do business in several studies, including:

  • The greater Minneapolis-St. Paul region is the 12th-best market in the U.S. for small business creation and growth, in a study by the Business Journal (2011).

  • Health care start-ups in Minnesota raised $88.3 million in investment during the first half of 2011 - more than any other state - according to a study by BioEnterprise.

  • Minnesota ranks 4th in the Midwest in venture capital funding for life-sciences start-ups, according a 2010 survey by BioEnterprise.

  • Minnesota ranks 5th in the The Beacon Hill Institute's most recent State Competitiveness Report (2010).

  • Minnesota places 7th in CNBC's annual ranking of the Top Places To Do Business.

In addition, Minnesota has been ranked among the top five states nationwide in the 2010 Camelot Index, according to the State Policy Reports, based on our economy, health, education, crime, society and government. Minnesota has a strong economic foundation, and a quality of life that makes it an attractive place to live and do business.


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