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Minnesota Chamber Grow Minnesota! 2013 Annual Report
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Transcript of Minnesota Chamber Grow Minnesota! 2013 Annual Report
Annual Report
GROW MINNESOTA! 2013 RESULTS
GROW MINNESOTA! 2013 RESULTS
• 902 one‐on‐one business retention visits– 234 in Metro Area, 668 in Greater MN
• 27% are revisits– 19% in Metro Area, 29% in Greater MN
• 195 firms assisted, affecting 3,865 jobs– 51 in Metro Area, 144 in Greater MN
TOP BUSINESS SECTORS VISITED
• Manufacturing – 31%• Retail Trade – 11%• Professional/Scientific/Technical Services – 8%• Finance/Insurance – 6%• Construction – 6%
Other visited sectors: Accommodation/Food Services, Health Care, Wholesale Trade, Agriculture/Forestry, Arts/Entertainment/Recreation, Real Estate/Rental and Leasing.
0%10%20%30%40%50%60%70%80%
Sales
Metro Area (N=187)
Greater MN (N=538)
0%10%20%30%40%50%60%70%80%
Profitability
Metro Area (N=157)
Greater MN (N=403)
SALES & PROFITABILITY IN THE LAST YEAR
20%
30%
40%
50%
60%
70%
80%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Area Greater MN
BUSINESSES REPORTING INCREASING SALES
BUSINESSES REPORTING INCREASING PROFITABILITY
20%
30%
40%
50%
60%
70%
80%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Area Greater MN
50%
55%
60%
65%
70%
75%
80%
85%
2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Area Greater MN
CREATING NEW PRODUCTS/SERVICES IN THE LAST 2 YEARS
PRIMARY MARKETS
0%
5%
10%
15%
20%
25%
30%
35%
40%
Local United States Minnesota Midwest International
Metro Area (N=222) Greater MN (N=470)
0%
5%
10%
15%
20%
25%
30%
35%
40%
Local United States Minnesota Midwest International None aregrowing
Metro Area (N=163) Greater MN (N=470)
FASTEST GROWING MARKETS
EXPORTING
27% of businesses said they are exporting.– An additional 10% are interested in exporting.
0%
5%
10%
15%
20%
25%
Canada Europe &Russia
Latin America& Caribbean
Japan, Korea,Southeast Asia
Mexico Africa &Middle East
Greater China India, Pakistan,Central/South
Asia
Australia, NewZealand,Oceania
WHAT ARE YOUR NEW INVESTMENT PLANS?
Data from businesses that told Grow Minnesota! their investment plans. Percentages are greater than 100% since some businesses have plans for more than one of these investments.
0%
10%
20%
30%
40%
50%
60%
Invest in new facilities Make major equipmentpurchases
Renovate/Expand currentfacilities
Metro Area (N=97) Greater MN (N=277)
BUSINESSES REPORTING EXPANSION PLANS
15%
20%
25%
30%
35%
40%
45%
2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Area Greater MN
60%
65%
70%
75%
80%
85%
90%
95%
2005 2006 2007 2008 2009 2010 2011 2012 2013
EXPANSION PLANS: % GROWING IN MINNESOTA
Metro Area Greater MN
WHY ARE BUSINESSES INVESTING OUTSIDE MN?
• Access to markets (39)• No room at current location (22)• High state and/or local taxes (16)• Access to labor (15)• Transportation/Infrastructure (10)
0%
10%
20%
30%
40%
50%
60%
Increase Stable Decrease Unsure
Metro Area (N=199) Greater MN (N=537)
JOBS IN THE NEXT YEAR
ADDED JOBS IN THE LAST YEAR
0%
10%
20%
30%
40%
50%
60%
70%
2005 2006 2007 2008 2009 2010 2011 2012 2013
Metro Area ‐ Added Jobs Greater MN ‐ Added Jobs
46%
53%
1%
Metro Area (N=158)
Yes
No
Unsure
54%
45%
Greater MN (N=381)
DIFFICULTY RECRUITING EMPLOYEES?
0%
10%
20%
30%
40%
50%
60%
2008 2009 2010 2011 2012 2013
Metro Area ‐ Trouble Recruiting Greater MN ‐ Trouble Recruiting
TROUBLE RECRUITING IN THE LAST YEAR
TROUBLE RECRUITING
0% 3% 6% 9% 12% 15% 18%
IT and Web, Actuaries, Statisticians
Executives, Managers
Architects,Engineers, Cartographers
Sales Agents, Real Estate Agents
Construction, Trades Workers
Production and Assembly
Metro Area Greater MN
HIGHEST RATED ATTRIBUTES
1. Recreational opportunities
2. Social organizations/networks
3. Cultural opportunities4. Overall workforce
quality5. Higher education
1. Recreational opportunities
2. Electric reliability3. K‐12 education4. Social organizations/
networks5. Lending by local
financial institutions
Metro Area Greater MN
LOWEST RATED ATTRIBUTES
1. State taxes2. Health care costs3. Workers’
compensation rates
4. Unemployment insurance
5. Laws affecting civil litigation
1. State taxes2. Health insurance
requirements3. Health care costs4. Worker’s
compensation rates
5. Unemployment insurance
Metro Area Greater MN
IMPROVING MN’S BUSINESS CLIMATE – PROGRESS?
ATTRIBUTE ONMN CHAMBER AGENDA?
RECOMMENDATION PROGRESS?
Health care costs Pay for outcomes, not procedures
2008 legislation has reduced ‘s
State taxes Repeal the B2B sales taxes; federal conformity
#1 priority for 2014
Health insurance requirements
Eliminate mandates; more defined contribution plans
Losing ground. Mandate added in 2013
Workers’ comp rates
Reduce health care expenses (over 1/3)
DOLI report to legislature, 2014
Unemployment insurance
Retain current benefits and financing.
Rate reduction adopted in 2013
GROW MINNESOTA! PARTNERSAlbert Lea-Freeborn County
w/ Albert Lea Economic Development AgencyAlexandria Lakes Area Area Partnership for Economic Expansion (APEX) w/ Duluth Area Apple Valley Austin Area Bemidji Area Bloomington Blooming Prairie ChamberBrainerd Lakes Chamber w/ Brainerd Lakes Area Econ. Development CorpBurnsville Cambridge Area Dakota County Regional Detroit Lakes Regional Eden Prairie Edina Elk River Area Fairmont Area w/ Fairmont Economic Development,
IGNITE - Martin CountyFaribault Area & TourismFergus Falls Area Forest Lake Area Greater Mankato Growth Inc.Hastings Area & Tourism BureauHibbing Area Hutchinson Area I94 West International Falls Area Isanti Area Itasca Economic Development Corp. (IEDC) w/ Grand Rapids Area Chamber
Lake City w/ Lake City Economic DevelopmentLitchfield Long Prairie Area Marshall Area MetroNorthMinneapolis Regional New Ulm Area North Hennepin Area Owatonna Area and TourismPark Rapids Area Princeton Area w/ City of Princeton Econ. DevelopmentRedwood Area Chamber & Tourism w/ Redwood Area Development Corp. Richfield River Heights w/ Progress PlusRochester Area w/ Rochester Area Economic Development Inc.Saint Cloud Area Saint Paul Area Shakopee Area SouthWest Metro Thief River Falls Area Twin Cities North TwinWestTwo Harbors Area Waconia Waseca Area
White Bear Area Chamber w/ White Bear Lake Economic Development Corp.
Willmar Lakes Area Winona Area Worthington Area