Grow Minnesota! Quarterly Economic Snapshot Summer 2022
1 Sep 2022
News
Minnesota’s economy showed mixed signals in the first half of 2022. Continued inflation, hiring challenges, a cooldown in GDP output, and uncertainty in consumer spending has negatively impacted business confidence and expectations for the coming year. On the other hand, Minnesota continued to recover job losses, increase labor force participation, reach record low unemployment levels, grow state exports, and maintain elevated business formation levels so far this year.
While uncertainty and signs of cooling in the economy cloud the near-term outlook, Minnesota’s overall economic performance has remained relatively steady at the mid-year point.
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September is Workforce Development Month
Sep 1 2022September is Workforce Development Month, a time to honor workforce development leaders and staff across Minnesota, as well as draw attention to the resources available to those looking for work and to employers who need workers. In Minnesota, the Department of Employment and Economic Development (DEED) and its business and...
An incentive award of up to $9 billion in federal, state, and local benefits for Micron’s $100 billion chip fab plant near Syracuse, New York, if employment and investment projections are achieved, has set the high bar for a U.S. project incentives award.
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Last fall, Morgan Crapps, Principal at ParkerPoe Consulting, spoke at Area Development’s Women in Economic Development Forum about the trends and factors that shaped foreign direct investment in the United States in 2022, and what we’re tracking for 2023. Here are some trends to watch:
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