The Business Benchmarks report by the Minnesota Chamber of Commerce presents a complex picture of the state’s economy. This report simplifies economic data for business professionals, highlighting both strengths and challenges in an easy-to-read format.
The report highlights several strengths of the Minnesota economy, including long-term economic stability, a favorable cost of living, a strong legacy of innovation, improvements in infrastructure, and a recovering labor force. However, there are also several challenges outlined in the report, including slow economic growth, high taxes and regulations, increasing cost of doing business, and negative net domestic migration.
Despite these strengths, the report suggests that they have not translated into meaningful economic growth for the state. This contradicts some aspects of the state’s economic position. To access the full report and gain valuable insights into the current economic landscape in Minnesota, you can find the link here.