Overview

Goal: A strong economy that encourages business investment and promotes opportunities for a competitive workforce.

Minnesota has historically enjoyed a robust economy, characterized by diverse industry, the attraction and retention of a skilled workforce, a tradition of entrepreneurial spirit and an eye toward innovation. Maintaining our high quality of life in any area—from housing to health to education—depends on a strong economy. And, in turn, the vitality of our economy hinges on our continued success in those areas as well.

What's happening

Like much of the country, Minnesota is experiencing mixed results as it seeks to emerge from the economic downturn. Overall economic growth has returned, but economic challenges remain.

Jobs

 

Economic output (GDP)

  • There was a drop in real GDP between 2008 and 2009, but Minnesota has made steady gains since then. In 2015, Minnesota's percent increase in real GDP (2.4%) was equal to that in the U.S. overall.
  • At $84,424, economic output per working-age adult is now higher than before the recession in 2008. In fact, it's higher than at any point since at least 2000.
  • Minnesota ranks 11th among states on economic output per working-age adult in 2015, up three spots from 2014. States with higher output include North Dakota, Alaska, Delaware, and Connecticut. Iowa ranks 19th and Wisconsin ranks 24th.

Median income

Poverty

Making connections

Investment in early childhood and later in education helps to ensure a skilled workforce to participate in a diverse economy. Access to jobs affects opportunity and productivity, while workers and other residents depend on and contribute to the transportation sector. The good health of our citizens saves money in health care costs and increases regional competitiveness and productivity. Disparities affect the economic contributions that workers and companies can make to our state's vitality, but efforts to strengthen communities from cradle to career hold potential to promote equity and increase competitiveness in the Twin Cities metro and beyond.

Minnesota Compass

Minnesota Compass
www.mncompass.org
Led by Wilder Research

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