Minnsights Blog

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.

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.

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.

If you ask business leaders in Minnesota, high taxes are a perennial challenge to growth. In a recent statewide survey of leaders from throughout the state, most said that they will try to grow here, but the number of those who will look to grow elsewhere or move has gone up year-over-year and now stands at nearly 40%.

The success of Minnesota’s economy depends on a diverse and sophisticated network of dynamics. But sometimes success is simple to identify, when you see it.