Minnsights Blog

Last spring, the Minnesota Chamber Foundation’s Grow Minnesota! program surveyed businesses across the state to better understand the factors driving expansion and investment activities. The 2024 State of business retention and expansion report found that Minnesota faces economic headwinds shared by the entire country such as interest rates and inflation, but the state also faces unique difficulties like an exceptionally tight labor market and a challenging business climate. Over time these factors will slow growth, but the report points out that we can capitalize on our opportunities and leverage our strengths to improve productivity and spur innovation.

I'm coming to you this week after the conclusion of this year's Minnesota Chamber-hosted Business Day at the Capitol. This is an annual program where business leaders from across the state – our members, local chambers, and other trade associations – gather at the Capitol to meet with and learn about key issues facing the business community.

It has been a busy week at the Capitol and a busy week here. This week, I am traveling to western Minnesota to meet up with the Leaders Lab Program. Now in its 10th year, the Leaders Lab program is designed to provide leadership skills to Minnesota business leaders and emerging business leaders. Our time in Willmar has been going well, with visits to the dairy and pork industries and a stop at Minnesota’s MinnWest Technology Campus, an exciting hub of emerging technology critical for future growth.

We have some exciting news to share. As noted in previous podcasts, the Chamber was engaged in litigation against the state, and we now have a permanent injunction with no appeal in our case. The deadline for the state's appeal, which was set by federal Judge Tostrud, has passed. This marks the conclusion of a two-year journey by the Chamber and our allies to protect the fundamental rights of businesses here in Minnesota.

Canada and Mexico have long been key markets for Minnesota businesses, and their importance to the state's economy has only grown in recent years. Since 2016, Minnesota trade has pivoted away from China and increasingly toward its North American partners, deepening supply chain integration across the continent, particularly in the state's manufacturing and natural resource sectors.