Minnsights Blog

Access to high-quality, affordable health care is necessary for employers to stay competitive. A strong majority of Minnesota Chamber member organizations offer health insurance to their employees, although employers – especially small employers – struggle with the high cost of insurance. And according to a recent survey, 75% of those who offer these benefits report that they will need to make a change their offerings if costs continue to increase.

The COVID-19 pandemic has impacted businesses in every corner of Minnesota, from decreased demand for products and services, to break-downs in supply chains, to some closing their doors forever. Reopening the economy and managing the ongoing economic fallout is a top business community concern, according to a recent survey. Lawmakers must focus on steps to avoid additional restrictions on businesses and not raise costs or burdens on businesses already struggling to survive.

This report provides data to illustrate those initial severe and unprecedented impacts of the pandemic and government interventions as well as the ongoing uncertainty and challenges. An economic imperative stands before us: We must restore livelihoods now and position the state for long-term growth. It’s possible, and it’s a collective effort. Public health and economic recovery must go hand in hand. Whether you are reading this report as a private-sector employer or an elected official, you have a responsibility to move the needle forward into a period of improvement and long-term success.

There are several recognized strengths of Minnesota’s economy that should be relied upon to spur short- and long-term growth.

Stabilize existing businesses through targeted relief. Targeted relief should include the following: