The Department of Employment and Economic Development (DEED) recently announced that Minnesota’s unemployment rate fell to 4.8 percent in October, the lowest it’s been in six years.
Our state boasts one of the lowest unemployment rates in the nation. That’s a testament to Minnesota’s competitive business climate and our well-educated workforce.
The new budget passed by state lawmakers earlier this year includes new tools and resources to make sure our economy stays on the right track and keeps moving forward.
For example, Minnesota employers are set to see their unemployment insurance taxes go down starting on January 1. The tax cut, approved by the DFL-led legislature and Governor Dayton, will save businesses $346.5 million over the next two years. Savings like that gives job creators more resources to improve their bottom line, hire new employees, and invest in their businesses.
The new state budget also means progress for our region’s bioenergy industry. The Minnesota Department of Agriculture is awarding $2.37 million in grants next year to help with the start up and expansion of bioenergy producers. This funding cuts project costs in half, puts people to work, and expands sustainable sources of energy for our state. It’s part of Minnesota’s Agricultural Growth, Research, and Innovation (AGRI) fund, a tool that is vital to economic development in rural Minnesota.
Our region’s transportation system will see progress in 2014 as well. We recently learned that a segment of Highway 14 east of Owatonna will expand to four lanes thanks to funding from Minnesota’s ‘Corridors of Commerce’ project, a key part of our new transportation budget. The proposal was one of ten selected from over 400 others throughout the state. It’s a project that will create jobs in the short term and enhance the flow of regional commerce over the long term.
We also paid for other investments in priorities Minnesotans broadly share, like our children’s education, that will make our economy stronger over the long haul. For example, every child will have access to all-day Kindergarten starting in Fall 2014. We also passed a two-year tuition freeze for undergraduate students attending Minnesota’s public colleges and universities. Building an even smarter workforce is vital if we want to attract and retain major employers that provide good jobs.
While we can all cheer Minnesota’s latest economic report, we have more work to do.
Next year’s legislative session is an opportunity to build on the positive steps we’re taking right now. I am hopeful that lawmakers will pass a strong, bipartisan bonding bill that funds improvements to our roads, bridges, schools, and other infrastructure.
In addition, the 2014 legislative session is shaping up to be a first-of-its-kind effort to make government better, faster, simpler and more efficient for people and businesses. We want to improve service, shorten wait times, and eliminate old and outdated rules.
Governor Mark Dayton has coined this idea as the “Unsession.”
I strongly encourage all constituents to send me your concrete, specific ideas for how state lawmakers can make Minnesota’s business climate and government services even better by cutting red tape and streamlining our state government.
You can share your ideas by calling my office at (651) 296-4193, emailing me at rep.jeanne.poppe@house.mn, or sending a letter to 487 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.
By working together, I am optimistic that we can keep growing Minnesota’s economy and expand prosperity for individuals and families throughout our state.
I hope you and your loved ones have a wonderful Thanksgiving!