There must be more than taxes
It is a theme that is sounded early and often in the Minnesota election season, indeed throughout each legislative session as well. Minnesota is driving business away with its excessive commercial and income taxes. Businesses are busy looking to escape to less expensive climes, according to conservative politicians.
But then along comes CNBC, the business-oriented news channel, which has put Minnesota sixth among the 50 states in its annual “Top States for Business” analysis. The ranking was announced Wednesday by the Minnesota Department of Employment and Economic Development.
CNBC ranks the state on 56 different measures of competitiveness, separated into ten broad categories. The rankings are based on input from business gorups, econonomic development experts, companies and the states themselves.
Minnsota ranked high in overall economy (fifth), infrastructure (fifth), quality of life (fourth), access to capital (11th), and technology and innovation (11th).
Among the border states that businesses are supposedly trying to escape to, North Dakota was 10th, South Dakota was 11th, Iowa was 12th and Wisconsin was 17th.
Minnesota may not have the lowest taxes in the nation, but we seem to do OK?by our businesses, it would seem.