Grow Minnesota! Report Highlights State's Economic Development Progress
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Grow Minnesota presentation on economic development in the state. Focusing on bettering the business environment, and results of the 2010-2011 year's impact.
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Grow Minnesota! Report Highlights State's Economic Development Progress
- 1. Grow Minnesota! …”Eyes & Ears” on the Development & Growth of Minnesota’s Economy 2011 Statewide Results January 2012
- 2. What Is Grow MN!? • Private sector economic development… …strategic links to public sector • MN Chamber sponsored • 59 local chamber partners • 3 parts to the program: – Business retention – Business assistance – Business expansion
- 4. Grow Minnesota! Visit – 3 Parts • Say, “Thank you!” • Ask, “How can we help your business?” • Ask, “How to make business environment better?”
- 5. Grow MN! 2010-2011 Results • 990 one-on-one business retention visits • 23% are revisits • 122 firms assisted, affecting 4,900 jobs… …15 expansions • BusinessConnection: – 940 on line searches completed – 50 email questions answered
- 7. Sales & Profitability -- Last 2 Years Sales (2010 – 2011) Profitability (2010 – 2011) Minnesota Minnesota (%) (%) Increased 48.5% Increased 35.9% Been Relatively Been Relatively Stable 26.3% Stable 34.9% Decreased 20.4% Decreased 24.6% Fluctuated Widely 4.8% Fluctuated Widely 4.6% N=582 N=541
- 8. Businesses Creating New Products in the Last Two Years
- 9. Fastest Growing Markets What is your company's fastest growing market? Minnesota Local 40% U.S. (general) 18% Minnesota 16% Midwest 14% International 10% None are growing 2% N=592
- 11. Expected Job Growth, Next Year 2009-10 N = 600 2010-11 N = 488
- 12. Rating MN’s Business Climate – ALL Grow MN! Visits • What’s working: – Recreation – K12 education – Energy reliability • What’s not: – Environmental regulations – State taxes – Health care
- 13. Businesses with Expansion Plans… …See Things Differently!
- 14. Expansions – Next Two Years • 2010: 147 (25%) Current Community 66% In MN 15% • 2011: 198 (29%) Another State 9% Another Country 2% • Where: 2011 Don’t Know 8%
- 15. Why Not MN? • Markets • Uncertainty, e.g. permitting, energy $s • Workforce
- 16. Recent Issues Recruiting Employees? (2010-2011 Results) N=667
- 17. Key Workers – Still in Short Supply (2010-2011 Results)
- 18. 2012 Job Creation Agenda: What Do Grow MN! Visits Suggest?
- 19. Policy Recommendations Grow MN! MN Chamber Permitting – More reform needed Reform Step 3: more certainty! Health care – Can’t control cost Exchange Up & Running! Budget – More service, not $s Adopt “Outcome Based Budgeting” Effective teacher/principal evaluations Workforce – More wkrs, right skills Eliminate “last in, first out” re hiring Energy – Future $$s unpredictable Cost-based electric rates
- 20. Questions?
Notes de l'éditeur
- Locations of Grow MN! partners showing the statewide impact of the program.
- Say “Thank you”: Talk about the importance of thanking the business for being located in Minnesota. “ Many times when we sit down with the business owner it’s the first time anyone has thanked him/her for being located in Minnesota and it helps set the tone for the conversation.” Ask “About assistance”: More will be discussed on this topic later on in the presentation, but one of the important purposes Grow MN! has been fulfilling is the follow-up assistance that we can provide to companies across the state. Ask “About environment”: Results of the visits are pulled together at the end of our year and turned into an annual report. The results of this report are used at the state capitol to lobby on behalf of businesses and help set the priorities of the MN Chamber. Locally, we use the results at/to… (e.g. city council meetings, member meetings, etc.).
- Business Expansion: ‘09 Results: 12 companies: 6 TC/6 Greater MN Done deals: 5 = 200+ jobs MN Rubber (Litchfield) Sage (Faribault) Goodrich (Burnsville) Detroit Diesel (Hibbing) Behrens (Winona) Dead: 3 = 125+ jobs Pending: 4 = 1,000+ jobs For 2, losing will cost existing jobs & HQ