For more information contact: Jason Wenisch 651-296-2317
ST. PAUL – With the 3M Co. announcing it has cut 1,200 jobs so far in 2009, State Representative Bob Gunther (R-Fairmont) reiterated that Minnesota lawmakers must prioritize job creation if they want to turn Minnesota’s economy around.
“During times of financial devastation, creating jobs will stimulate the economy,” Gunther said. “Yet the House and Senate majorities are talking about eliminating jobs through tax increases on businesses who are struggling to keep people employed.”
Gunther points to comments made recently by former 3M CEO George Buckley. He discussed how 3M has, like all Minnesota businesses, been confounded with the combination of economic issues and taxes.
Specifically, he discussed how it is important to keep 3M headquarters in Minnesota, yet because of Minnesota’s high taxes, it may find itself relocating - resulting in jobs lost.
Buckley argues the only ways to create new wealth in Minnesota is through manufacturing, agriculture, and minerals. While service sectors are important and can be a boon to individual locations, Buckley feels they only shift money around and do not create new wealth.
“Our tax rates are oppressive already, and the folks at 3M and at other companies are all too aware of this fact,” Gunther said. “If we don’t change things pretty soon, they’ll all be gone.”
“Buckley notes that there is significant need for businesses to be given tax cuts to instill job creation,” Gunther continued. “This would not only benefit the economy and the citizens of Minnesota, but employees and employers as well. The time to act is now.”
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