Minnsights Blog

Minnesota’s economy – much like its people – is resilient. For more than a year and a half, businesses across the state have weathered the unpredictability of a worldwide pandemic, and the subsequent changes in demand, supply chains and government-imposed shutdowns. Yet here we are: a recovering economy offering more jobs than people to fill them, with businesses continuing to pivot and innovate, ushering in a new phase of prosperity for the future.

The cost of doing business encompasses several factors and can vary by industry and location in the state. For Resoundant Inc., a medical technology company in Rochester, costs can often impact their business operations, but never their capacity for innovation.

It’s nearly impossible to have a conversation with a business leader without talking about workforce. Challenges have evolved but persisted over a decade, with employers in search of skilled workers to fill positions. While the long-term and systemic answers to these challenges will vary by industry and area of the state, there is one organization that proudly boasts, “We have the labor force you need,” and means it.

Innovation helps define Minnesota’s business legacy. In the last few years – and throughout the COVID-19 pandemic – businesses operating in Minnesota have fueled that legacy in many areas, including health care.

A strong statewide network of infrastructure is necessary to move goods and services throughout the state. Minnesota is a connection point for the upper Midwest, and there is a vast network of businesses that rely on a sound system of connections in the air, the water, the roads and digital stratosphere.