Grow Minnesota! …Support in a “shaky” economyDetroit Lakes Chamber Economic Summit               March 2012
What Is Grow MN!?• Private sector economic development…   …strategic links to public sector• MN Chamber sponsored• 57 loca...
Grow Minnesota! Visit – 3 Parts• Say, “Thank you!”• Ask, “How can we help your business?”• Ask, “How to make business envi...
Why Is Grow MN! Important?• No one else says, “Thank you.”• Businesses have more choices than ever  – Talk directly to the...
Grow MN! 2010-2011 Results• 990 one-on-one business retention visits   – 136 in Central Minnesota• 23% are revisits   – 36...
Sales -- Last 2 Years             60.00%             50.00%             40.00%Percentage             30.00%             20...
Profitability -- Last 2 Years             40.00%             35.00%             30.00%             25.00%Percentage       ...
Businesses Creating NewProducts in the Last Two Years               100%               95%               90%              ...
Fastest Growing Markets                        What is your companys fastest growing market?               45%            ...
Export Sales: Opportunities• What: high value and/or made-to-order• Where: look for growing middle class
Expected Job Growth, Next Year                 (2010-2011 Results)      Expectation for Employment Changes                ...
Expected Job Growth, Next Year                70%                                66%                60%                   ...
Rating Central MN Business Climate • What’s working:   – Housing   – Energy reliability   – K12 education • What’s not:   ...
Expansions – Next Two Years• 2010: 147 (25%)      Current Community   66%                       In MN               15%• 2...
Why Not Central MN?•   Markets•   Uncertainty, e.g. permitting, energy $s•   Workforce
Workforce: A “New Normal”• Jobs are being created…• But, they are different…  …Mismatch of current skills & current openings
Recent Issues Recruiting Employees?             (2010-2011 Results)                                   N=667
Key Workers – Still in Short Supply                                          (2010-2011 Results)                          ...
Job Creation Agenda: What    Grow MN! Visits Suggest?• Talk to the “customers”  – They expect it!  – You can help! E.g. Ex...
Questions?
Grow MN Central Region 2012
Grow MN Central Region 2012
Grow MN Central Region 2012
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Grow MN Central Region 2012

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An overview of the Grow! Minnesota Service provided by the Minnesota Chamber of Commerce. Efforts to support Minnesotans and grow businesses in a "shaky" economy.

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Grow MN Central Region 2012

  1. 1. Grow Minnesota! …Support in a “shaky” economyDetroit Lakes Chamber Economic Summit March 2012
  2. 2. What Is Grow MN!?• Private sector economic development… …strategic links to public sector• MN Chamber sponsored• 57 local chamber partners…including Detroit Lakes• 3 parts to the program: – Business retention – Business assistance – Business expansion
  3. 3. Grow Minnesota! Visit – 3 Parts• Say, “Thank you!”• Ask, “How can we help your business?”• Ask, “How to make business environment better?”
  4. 4. Why Is Grow MN! Important?• No one else says, “Thank you.”• Businesses have more choices than ever – Talk directly to the decision maker – Learn firsthand re issues & plans• Businesses expect Chambers to help – 25% would turn to chamber of commerce for assistance
  5. 5. Grow MN! 2010-2011 Results• 990 one-on-one business retention visits – 136 in Central Minnesota• 23% are revisits – 36 in Central Minnesota• 122 firms assisted, affecting 4,900 jobs – Including 18 in Central Minnesota• BusinessConnection: – 940 on line searches completed – 50 email questions answered
  6. 6. Sales -- Last 2 Years 60.00% 50.00% 40.00%Percentage 30.00% 20.00% 10.00% 0.00% Increased Relatively Stable Decreased Fluctuated Widely Responses State (N=582) Central Region (N=97)
  7. 7. Profitability -- Last 2 Years 40.00% 35.00% 30.00% 25.00%Percentage 20.00% 15.00% 10.00% 5.00% 0.00% Increased Relatively Stable Decreased Fluctuated Widely Responses State (N=541) Central Region (N=95)
  8. 8. Businesses Creating NewProducts in the Last Two Years 100% 95% 90% 85% Percentage 80% 75% 70% 65% 60% 55% 50% 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 Fiscal Year State Central MN
  9. 9. Fastest Growing Markets What is your companys fastest growing market? 45% 40% 35% 30% Percentage 25% 20% 15% 10% 5% 0% g l l ta st es ca na in so we at Lo ow io ne St at id gr M rn in d M e te te ar In i Un ne No Market Minnesota (N=592) Central MN (N=93)
  10. 10. Export Sales: Opportunities• What: high value and/or made-to-order• Where: look for growing middle class
  11. 11. Expected Job Growth, Next Year (2010-2011 Results) Expectation for Employment Changes Minnesota Central MN Increase 40.8% 48.4% Stable 51.6% 46.8% Unsure 5.5% 3.2% Decrease 2.0% 1.6% N=488
  12. 12. Expected Job Growth, Next Year 70% 66% 60% 52% 50% Percentage 41% 40% 2009-2010 30% 27% 2010-2011 20% 10% 6% 4% 3% 2% 0% Unsure Stable Increase Decrease Responses 2009-10 N = 600 2010-11 N = 488
  13. 13. Rating Central MN Business Climate • What’s working: – Housing – Energy reliability – K12 education • What’s not: – Air service – State taxes – Health care cost – Energy cost
  14. 14. Expansions – Next Two Years• 2010: 147 (25%) Current Community 66% In MN 15%• 2011: 198 (29%) – 28 in Central MN Another State 9% Another Country 2%• Where: 2011 Don’t Know 8%
  15. 15. Why Not Central MN?• Markets• Uncertainty, e.g. permitting, energy $s• Workforce
  16. 16. Workforce: A “New Normal”• Jobs are being created…• But, they are different… …Mismatch of current skills & current openings
  17. 17. Recent Issues Recruiting Employees? (2010-2011 Results) N=667
  18. 18. Key Workers – Still in Short Supply (2010-2011 Results) Difficulty Recruiting Employees 80% 70% 60% Percentage 50% 40% 30% 20% 10% 0% gy t f ct e g er n af en im t in tio ra lo th St em no nt T ke uc O rt- ce Co ag ar od ch Pa ffi M / Te an Pr ry l/ O s/ ra l/M n le n ica sio po io Sa na at er m i ec sio rm Cl Te Pr fo es In of Pr Job Type % Yes - State % Yes - Central MN
  19. 19. Job Creation Agenda: What Grow MN! Visits Suggest?• Talk to the “customers” – They expect it! – You can help! E.g. Exporting• Improve economic infrastructure – More workers – right skills – Air service: make it an advantage – Energy: restore your advantage
  20. 20. Questions?

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