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2020 Business Benchmarks

Read the full 2020 Business Benchmarks report here.

 

The Chamber releases a Benchmarks report each year to make sense of all of the rankings that are reported all of the time. This is true: In the last year, Minnesota has been ranked the second-best place to live, and also the worst place to live (for our weather). We’re middle of the pack for dog-friendliness.

Making sense of our economic competitiveness is tougher. The report walks through detailed criteria for six categories to flesh out successes and challenges to growing your business. Because this is the fifth year of the report, there is a special section on trends. 

Sources

Business Benchmarks 2020

 

 

FIVE YEARS OF BENCHMARKS: TRENDS AND TAKEAWAYS

Over the last five years, the Business Benchmarks report has helped sort through where Minnesota ranks compared with other states. In this edition, we’ve reviewed the five-year data overall to provide an analysis of positive, troubling and mixed trends in several categories.

 

POSITIVE TRENDS

$2 billion truck graphic
Transportation investment improving MN highways
Logo of moving boxes
Workers’ comp costs now below the national average
migration graphic
Migration is bringing more talent into Minnesota

 

TROUBLING TRENDS

Economy graphic
Overall economic performance behind national avg.
tax burden rankings
Tax burdens continue to rise
Health care cost graphic
Health care costs rising faster than other states

 

MIXED RESULTS

Exports Graphic
Exports are up nearly 10 percent...
BUT subject to uncertainty
Workforce shortage
Quality workforce is a top strength...
BUT includes troubling education outcomes and a critical shortage.

 

REAL BUSINESS PEOPLE, REAL STORIES

Minnesota Chamber members and business leaders around the state are not only the driving force behind our economy, but the real people who see Minnesota's successes and challenges every day. Hear what they have to say on six key topics facing Minnesota businesses.

Mark Jarrett Vice President of Finance SageGlass
Economy
Mark Jarrett
Vice President of Finance
SageGlass
Greg Frandsen President Industrial Netting
TAXES
Greg Frandsen
President
Industrial Netting
Laura Ekholm Executive Vice President L&M Radiator
Cost of doing business
Laura Ekholm
Executive Vice President
L&M Radiator
Diogo Vasconcelos Vice President nVent
Innovation
Diogo Vasconcelos
Vice President
nVent
Bob Biesterfeld President and CEO C.H. Robinson
Infrastructure
Bob Biesterfeld
President and CEO
C.H. Robinson
Hussein Farah Founder and Executive Director New Vision Foundation
Workforce
Hussein Farah
Founder and Executive Director
New Vision Foundation

Questions about the 2020 Business Benchmarks?

We'd love to hear from you! If you have questions on this year's Business Benchmarks or would like to get involved on the topics listed above, please contact us or reach out to one of our expert staff