grow mn central region 2012
DESCRIPTION
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.TRANSCRIPT
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Grow Minnesota!
…Support in a “shaky” economy
Detroit Lakes Chamber Economic Summit
March 2012
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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
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Grow Minnesota! Visit – 3 Parts
• Say, “Thank you!”
• Ask, “How can we help your business?”
• Ask, “How to make business environment better?”
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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
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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
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Sales -- Last 2 Years
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
Increased Relatively Stable Decreased Fluctuated Widely
Responses
Per
cen
tag
e
State (N=582) Central Region (N=97)
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0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
Increased Relatively Stable Decreased Fluctuated Widely
Responses
Per
cen
tag
e
State (N=541) Central Region (N=95)
Profitability -- Last 2 Years
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Businesses Creating New Products in the Last Two Years
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
Fiscal Year
Perc
en
tag
e
State Central MN
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Fastest Growing MarketsWhat is your company's fastest growing market?
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Market
Per
cen
tag
e
Minnesota (N=592) Central MN (N=93)
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Export Sales: Opportunities
• What: high value and/or made-to-order
• Where: look for growing middle class
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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
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4%
66%
27%
3%
6%
52%
41%
2%
0%
10%
20%
30%
40%
50%
60%
70%
Unsure Stable Increase Decrease
Per
cen
tag
e
2009-2010
2010-2011
Responses 2009-10 N = 600
2010-11 N = 488
Expected Job Growth, Next Year
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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
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Expansions – Next Two Years
Current Community 66%
In MN 15%
Another State 9%
Another Country 2%
Don’t Know 8%
• 2010: 147 (25%)
• 2011: 198 (29%)– 28 in Central MN
• Where: 2011
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Why Not Central MN?
• Markets
• Uncertainty, e.g. permitting, energy $s
• Workforce
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Workforce: A “New Normal”
• Jobs are being created…
• But, they are different……Mismatch of current skills & current openings
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Recent Issues Recruiting Employees?(2010-2011 Results)
N=667
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Key Workers – Still in Short Supply(2010-2011 Results)
Difficulty Recruiting Employees
0%10%
20%30%
40%50%
60%70%
80%
Job Type
Per
cen
tag
e
% Yes - State % Yes - Central MN
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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
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Questions?