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Minnesota: One of the Worst States to Work and Start a Business

January 26, 2012 J

Minnesota: One of the Worst States to Work and Start a Business
Report shows Minnesota is less prosperous than regional peers, including Wisconsin

ST. PAUL – Today, AFP Foundation- Minnesota, the nation’s premier free market grassroots group, released its yearly state economic competitiveness report and the results are alarming. The report analyses the economic state of Minnesota and the prosperity of its citizens using important statistics such as population growth and gross domestic product (GDP), private sector job growth, business tax climate, and state spending and debt.

Minnesota is one of the worst states in the nation to work and do business,” said AFP Foundation-Wisconsin State Director John Cooney.  “Minnesota’s population growth is in line with Wisconsin’s and lags massively behind the national average. This is due in large part to Minnesota’s loss of private sector jobs, dismal tax climate, and growing state debt.

The report found Minnesota’s private sector lost more than 57,000 jobs from 2000 to 2010 while state government jobs increased by more than 12%.  In addition, Minnesota was ranked as the 43rd-worst tax climate for businesses in the U.S. and was ranked 42nd in the nation for small business survival and entrepreneurship.  Even worse, Minnesota state spending has increased by more than 600% since 1960 and state debt has grown by 473%.

Cooney continued, “If Minnesota was a more attractive state to live and work in, it wouldn’t lag behind national population growth. In order to create desperately-needed jobs and income growth, Minnesota must lower taxes, remove intrusive regulations, and decrease government spending and debt.

Minnesotans and businesses must have the greatest control over their money in order to make our state not only a prosperous place to live, but also an economically competitive place to do business.”

To view the booklet, click here.

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