In a recent Minnesota Star Tribune opinion piece, MBP Interim Co-CEOs Abby Loesch and Erika Nelson make the case that economic growth must remain central to Minnesota’s future. You can read it here.
The challenge isn’t convincing people Minnesota is a good place to live ― it’s making sure they have the opportunities they want here.
By Abby Loesch and Erika Nelson
Interim Co-CEOs of the Minnesota Business Partnership
Minnesota is heading into a period of significant change. In January, a new group of elected leaders will be making decisions that will shape the direction of our state for years to come.
There will be plenty of debate about candidates and policies between now and then. But there is one theme that should rise above all of that debate: Minnesota’s economy needs to grow.
Growth is good.
That may sound simple. But too often, we talk about economic growth only through rankings, percentages, reports or as something that matters only to business. It is much bigger than that.
A growing economy creates opportunities for Minnesotans whose diverse skills, expertise and experiences enrich us. Growth also means better jobs, rising wages and more reasons for young people to begin their careers and build their lives here. Growth strengthens communities and expands the resources available for priorities Minnesotans care about: schools, public safety and health care. Growth creates opportunity. And importantly, growth gives us choices.
Minnesota has many strengths and, historically, our growth has been our pride and advantage. Our workforce is highly educated and highly skilled. Our economy includes global leaders in medical technology, food and agriculture, manufacturing and financial services. Those are strengths worth building on. We also must pay attention to what Minnesotans, and the data, are telling us.
Research conducted for the Minnesota Business Partnership by Morning Consult this summer found that 70% of Minnesotans believe it is important for the state to retain its largest employers and their employees. Nearly two-thirds (63%) believe leaders should actively work to attract and grow large employers in the state.
When a company chooses to build in Minnesota, the impact extends well beyond the company. People are hired. Homes are built. Local suppliers, small businesses and our neighborhoods all benefit. That investment ripples through communities and creates more opportunities. And every time a company decides where to build its next facility, add a research team, or create jobs, Minnesota is competing for that decision. We want Minnesota to win.
This same research also found that 79% of Minnesota residents expect to be living here five years from now. That says something important about the connection people feel to our state. But 45% also say they would move away for a job opportunity elsewhere. That number should get our attention. We need growth to ensure those jobs are in Minnesota.
The challenge is not convincing people that Minnesota is a good place to live. It is making sure they have the career, opportunity and future they want here. Minnesota needs to compete to keep more people, attract new talent, prepare workers for a changing economy and make it easier for businesses to invest and grow.
Education and workforce development have historically been a Minnesota advantage and are critical to any serious effort to drive economic growth.
How well our students read and understand math matters to Minnesota’s future economy. As do career pathways, apprenticeships and partnerships that connect students with employers. Access and cost of child care affect whether parents can work. Availability of housing options affects whether workers can afford to live in communities where the jobs are located.
As artificial intelligence and other technologies reshape the workplace, Minnesota needs deeper connections and coordination between employers and educators. We need to help people prepare not just for the jobs they have today, but for the jobs they will have in the future.
At the same time, Minnesota needs to be a place where employers see a reason to make their next investment.
We know Republicans and Democrats won’t agree on every tax, regulation or spending decision. But we should be able to agree on what success looks like: growth for Minnesota.
The next chapter is an opportunity to rise to the challenge and show the country that Minnesota won’t accept mediocrity or stagnation. Next January, our newly elected state and legislative leaders have an opportunity to make growth a shared goal by helping Minnesota businesses expand, attract new investment and assure more people can build a future for themselves and their families here — because growth is good, for all of us.
Abby Loesch and Erika Nelson are interim co-CEOs of the Minnesota Business Partnership.