Minnesota ranks 6th best for business
Industry, commerce, agriculture and tourism. Those are just some of the elements that make up Minnesota’s economy. In a recent study by CNBC, Minnesota was ranked the 6th best state for business. And a diverse economy is a driver of the high ranking.
Brainerd Lakes Chamber of Commerce CEO, Matt Kilian, says, “Here in the Brainerd Lakes Area not everyone is in the tourism business, but everyone depends on that for their success and conversely the success of the businesses here drives the tourism economy.”
The study ranked the states in ten categories. Minnesota finished in the top five in three of them. We’re fifth in economy and infrastructure and fourth in quality of life. And a great infrastructure and quality of life are great advertisers for businesses.
Kilian says, “What better place to live in the United States than in Minnesota. We have a great quality of life. We have great schools. We have recreational opportunities. All of those thing attract talent and attract entrepreneurs and in turn that equals business success here in Minnesota.”
With a high corporate, income and gas taxes, Minnesota’s the 12th most expensive states to do business. And the chamber hopes the state’s representatives will get more involved to lessening those costs.
Kilian says, “We just have to as a chamber and as the business community be able to reach out and make our voices be heard; to invite them into the businesses and make sure that they understand the regulations and the taxes and the impacts. How they might seem like a great idea on paper but they don’t always play out that way.”
Minnesota has some of the nations largest companies, 3M, Target and Kellogg. Those large companies and our local mom and pops all have one thing in common, they took a risk in Minnesota.
Kilian says, “If you ask me what’s that one factor it’s innovation and the willingness to take risks and achieve success.”
Minnesota was ranked the best state in the Midwest for business with North and South Dakota ranking 10th and 11th.