Minnesota is the 34th Best State for Business 2014

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP % Growth ’12-’13: 2.8 % Growth ’11-’12 v. Nat’l Avg. (2.5%): 1 Unemployment Unemployment Rate Dec. 2013 %: 4.6 Comparison with Nat’l Rate (6.70%): -2.1 Domestic Migration Domestic Net Migration 2013: -1,147 Rank: 24 State Government State Debt per Capita Fiscal Year ’13 ($): 2,712 State & Local Gov’t Employees per 10k Residents: 541.8 State-Local Tax Burden Rate (%): 10.8% Compared to Nat’l Avg. (9.9%): 0.93%

Key Metrics

State GDP

Unemployment

Domestic Migration

State Government

State-Local Tax Burden

Key Companies
Target Supervalu CHS 3M Medtronic General Mills

Development Trend Indicator: Negative
Toxic environment grows with big boosts in taxes and minimum wage.

CEO Comments
“MN’s escalating income and sales tax has me as an investor looking at surrounding states for residency and business expansion.” “The Minnesota legislature is very powerful and committed to increasing regulations, taxes and meddling in private business at both state and local levels.”

Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.