Dear neighbors,
State law prohibits elected officials from sending mass emails after 60 days from adjournment of the legislative session during an election year. Today is that deadline, so this will be my final legislative update of the year.
I will still be submitting guest commentaries to local news outlets like the Northfield News and Montgomery Messenger so please check those publications for future news and updates. You can also visit my website at www.house.mn/20B for regular news and updates throughout the rest of the year.
Over the past few days, I have joined my colleagues Rep. Hansen, Rep. Dehn, Rep. Kresha and Sen. Sheran for a self-funded trip to the Midwest Council of State Governments Conference in Omaha, Nebraska. We are learning how other states are faring, hearing from researchers on a variety of issues that impact our lives and sharing Minnesota's story of success. It's a great opportunity to connect and collaborate with others across our region.
For my final legislative update, I want to share some positive economic news our state received over the past few weeks.
As always, please contact me with any questions or feedback. You can reach me by phone at (651) 296-0171, by email at rep.david.bly@house.mn or by postal mail at 559 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.
Unemployment at lowest level in seven years:
According to our most recent jobs report, Minnesota employers added over 10,000 jobs in May, bringing our unemployment rate down to the lowest level in seven years. The manufacturing sector added a healthy 2,900 new jobs, a key sector of our workforce that ripples across others. In addition, Minnesota added another 3,800 new construction jobs, which shows that businesses and communities are expanding.
From the time the 2013-2014 legislative session began, Minnesota has added well over 50,000 jobs – restoring all the jobs lost during the worst recession since the Great Depression. Now, there are more jobs in Minnesota than at any time in our state’s history.
Budget outlook stable and strong:
Thanks to our workforce, businesses and smart fiscal management by the legislature, Minnesota’s budget outlook remains strong. It’s a refreshing contrast to the perpetual cycle of deficits that hurt our economy before the 2013-2014 session began.
According to the most recent economic report from Minnesota Management and Budget, general fund revenue for Fiscal Year 2014 came in at $168 million more than projected in February 2014. Most of that extra revenue came from income tax receipts, a key metric that shows job creation continues to grow. We also now have $150 million more revenue in our budget reserves, which will help provide a better financial cushion in future economic downturns, protecting vital services and needs like education, health care and infrastructure.
Click here for additional analysis from Minnesota Public Radio.
Minnesota ranked sixth best state for business:
Minnesota is the sixth best state for business in the entire country according to CNBC’s eighth annual “America’s Top State’s for Business.” With last year’s ranking at 13th place, our current ranking shows that we continue to build on our positive economic momentum. The rankings cite Minnesota’s “superior quality of life, a vibrant economy and a robust infrastructure” as a few of the biggest reasons behind our success.
Minnesota ranked third best state to make a living:
Forbes recently ranked Minnesota the third best state to make a living, up from being ranked sixth last year due to our “very low unemployment rate and excellent workplace conditions.”A diverse economy and well-educated workforce are big reasons why our median household income and our quality of life is consistently above the national average.
Minnesota ranked second for talent pipeline:
The U.S. Chamber of Commerce recently ranked Minnesota second in the nation for our ‘talent pipeline’ – a key metric of the skills and talents of our workforce.
Here is an excerpt from the Chamber’s report:
“Ranked 2nd for its talent pipeline in this year's report, Minnesota is strengthening workforce skills and economic growth by bringing multiple stakeholders to the table to work in partnership.
The state's Governor's Workforce Development Council (GWDC) brings together leaders from the private, public, and education sectors, along with community leaders, to recommend ways to better align the state's workforce skill development with real-world needs.
The Minnesota Job Skills Partnership, part of the state's Department of Employment and Economic Development (DEED), has also been tasked with leading state efforts to build a more globally competitive workforce. The initiative provides training grants of up to $400,000 to educational institutions throughout the state to build workforce skills training partnerships with private industry.”
The legislature’s investments in education such as all-day Kindergarten, preschool scholarships, more funding for every student and a two-year college tuition freeze are helping to build an even better workforce that can compete with businesses around the globe.