Grow Minnesota!

Grow Minnesota! boosts economic development

By Bill Blazar

Minnesota faces many challenges if it is to build the infrastructure necessary to develop and grow our economy. The Minnesota Chamber of Commerce is advancing several key policy initiatives at the 2011 Legislature intended to make this state attractive to companies to start or locate and expand here.

Equally important, however, is that Minnesota is pro-active in checking in with businesses – thanking them for investing in this state and asking them what can done to help them be more successful from their Minnesota base. That’s the foundation of Grow Minnesota!, the Minnesota Chamber of Commerce’s distinctive private-sector initiative aimed at creating, retaining and growing Minnesota jobs.

Grow Minnesota! is in its eighth year of visiting annually one-on-one with more than 800 business owners and/or top-level management. The program is carried out in partnership with 55 local chambers of commerce and private economic development organizations.

These conversations really are the engines – jet engines at that – for job creation. Several events underscore the value of doing and reporting business retention visits in a timely fashion. Among them:

GE Aviation Supplier Symposium: Grow Minnesota! sponsored this event in December which provided more than 80 smaller Minnesota manufacturers the opportunity to pitch their services directly to this Fortune 500 company and some of its largest contractors. The Grow Minnesota! data base was used to identify companies with the capabilities that GE Aviation and its contractors were seeking. These companies received priority for the invitation. 

Data center expansion opportunity: Last summer a financial services company asked for help in identifying potential sites for a new data center. Among its criteria, the company sought communities that were currently hosts to similar businesses. Again, the Grow Minnesota! data base provided an immediate resource. Ten communities had reported visits to companies that were close to what our inquirer wanted to be near, and two of these communities still are being considered. By the way, the suitor was clear that we not issue a broad-based solicitation.

Potential investors: We’ve had two inquiries since November by investors trying to identify business opportunities in Minnesota. One business wants to make equity investments in established Minnesota companies ready to grow. The second is interested in start-up companies with products and/or services that have just reached or are about to reach the market. For the former, we circulated the equity firm’s criteria to all partners. For the latter, we are relying – at the equity firm’s request – on our data base.

Budget cuts: These cuts are affecting economic development programs at the state and local levels. But the impact is significantly less in those communities with Grow Minnesota! programs that work year round. Our volunteers visit businesses on a weekly basis, providing an excellent set of “eyes and ears” on the local economy. Communities without this resource too frequently are surprised by bad news that might have been avoided. Grow Minnesota! retention visits are a low cost and effective way to keep existing “customers,” especially when public programs are being cut.

What’s the moral of these stories? Grow Minnesota! programs that connect with businesses on a regular basis, and provide timely reports, have a head start on economic development opportunities. The communities and their residents are the winners.

Our goals for the coming year are more ambitious than ever as Grow Minnesota! builds an awareness of its ability to help businesses stay and create jobs in Minnesota. Our follow-up assistance is second to none. Grow Minnesota!, working with our local partners, has an unprecedented opportunity to continue to build an effective program to keep and attract businesses.

Bill Blazar is senior vice president of public affairs and business development at the Minnesota Chamber of Commerce. For more information on Grow Minnesota!, visit www.growminnesota.org.