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Minnesota: 2030 | 2023 edition - The imperative

Minnesota: 2030 | 2023 edition




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The imperative

Minnesota’s economy remains strong and resilient, heading into the middle of the decade. But as outlined in this report, the state also faces notable challenges going forward.

We urge leaders throughout Minnesota – including business leaders, policymakers and community leaders – to dedicate themselves to building for Minnesota’s future.

The 2020s have been a decade of enormous challenges and rapid changes. Paradoxically, it has also revealed long-standing issues that remain difficult to resolve. Minnesota must prioritize stewardship of its economy to meet new challenges and solve old ones.

But one might ask: why should Minnesotans care about growing and developing the state’s economy in the first place?

With the state already possessing leading companies and a surplus of worker demand, some may argue that we can simply maintain the economy we already have. This would be a mistake.

Minnesota’s strong economy and high quality of life were developed over time as the state welcomed innovation, cultivated a world-class workforce and developed its communities. This work is never complete in a dynamic economy. Minnesota competes for talent and investment with economies in the U.S. and around the world, and that competition has only grown stronger in recent years.

Further, the economy continues to produce uneven outcomes across regions and demographic groups. Without further growth and development, the state will be less equipped to enable prosperity for all Minnesotans.

Minnesota is obligated to leverage the ingenuity and resources of its private sector to help its residents flourish and meet the growing needs of a global economy. The COVID-19 pandemic showed the vital role that Minnesota businesses play in supplying lifesaving medical technologies, food, minerals, equipment and consumer goods here and around the world.

For these reasons, it is critical to continue investing in strategies that can unlock a decade of prosperity and innovation.

The Minnesota Chamber Foundation will work to advance these efforts over the coming months and years and welcomes a broad coalition of stakeholders to join us in this mission. We cannot be complacent nor take our strengths for granted. Join us in helping to shape Minnesota’s future.


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Minnesota: 2030 | 2023 Edition home
Key Findings
Minnesota’s economic performance 2020-2023
Minnesota’s economic performance 2020–2023
Economic Outlook through 2030
Economic Outlook through 2030
Tracking progress: Strategies for growth
Tracking progress: Strategies for growth