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Minnesota Business Community Lacks Confidence

The has released their 7th annual Minnesota Business Barometer Survey and to be honest, I am a bit shocked at the low level of confidence.

I would have that it would be a bit better, not great, but better than the numbers show:

  • 30% said the state’s economy was improving
  • Nearly the same number said
  • 20 % said they were more profitable than last year
  • 30 % said they were less profitable
  • Just over 40% said Minnesota was emerging more slowly than other states from the recession

There is some good long term news:

  • 79% said they were optimistic about Minnesota's economic future over the next 10 years
  • 18% said they were pessimistic

From the survey:

“Some statistics suggest that Minnesota may be turning the corner and starting our economic recovery. But the Business Barometer demonstrates that this perception is trumped by the reality of a lack of business confidence,” said David Olson, Minnesota Chamber president.

“Business owners and managers want to invest in Minnesota, but there continues to be too much uncertainty in government policy at the state and federal levels for those investments to be made. It’s imperative that policy-makers take steps to place Minnesota employers on a competitive playing field.”

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Ed Kohler

To me, that reads like it comes from companies who're interested increasing their short term profits through tax cuts at the expense of our state's health care and education.

I tend to admire innovators who grow by continually creating things that people or companies want to buy.

Darren Cox

Right on Ed!

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