Minnsights Blog

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It’s hard to avoid the predominant issue of 2020 – the COVID-19 pandemic. Not only has this impacted our personal lives on every level, but it has drastically impacted our economy. This year’s report benchmarks our “new economy.” By this, we mean the economy that will operate under the cloud of uncertainty before the pandemic is over.

Minnesota’s hard-working, highly-skilled workforce has long-driven its economic success. But for the state to continue to compete into the future, it must work to break down barriers to employment and advancement, close achievement gaps, and understand and utilize the demographics of our future workforce.

Some costs of doing business are unavoidable, like investments in new technologies or workforce. Businesses do what they can to find efficiencies and remain flexible to meet their goals and weather economic uncertainty.

Infrastructure – like most other elements of the economy – has fundamentally shifted during COVID-19. Stay-at-home orders have canceled many family vacations and kept many employees from their twice-daily commutes. But this is a critical time for Minnesota’s infrastructure, especially for those who rely on it to do business and provide quality jobs throughout the pandemic and into the future.