the 2013 msp business vitality index · comparing msp to these nine regions does not always provide...

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anks to our sponsors: Minneapolis Saint Paul Region The Minneapolis Regional Chamber of Commerce identifies the MSP region as eleven counties in the Twin Cities and two in Wisconsin. These counties make up our metropolitan statistical area and provide a standard geographic definition that is widely accepted throughout the nation. Changes in MSP Competitiveness Unemployment Rate (2011 - 2012) 0.8% Per Capita Income (2010 - 2011) 4.6% Gross Metropolitan Product (2009 - 2010) 4.1% Average Travel Time to Work (2000 - 2011) 0.0% Metro Transit Ridership (2010 - 2012) 0.2% Average Wage Per Job (2010 - 2011) 2.5% THE 2013 MSP Business Vitality Index PRESENTED BY Sources: • American College Of Sports Medicine • Bicycling Magazine • The Business Journals • Brookings Institute • Brown University • Bureau of Economic Analysis • Bureau of Labor Statistics • Central Connecticut State University • Federal Housing and Finance Agency • Forbes • Human Rights Campaign • Metro Monitor • Metropolitan Council • Moody's Analytics • New Geography • Policom • Tax Foundation • Travel + Leisure • Urban Institute • United States Census Bureau • Walk Source Presenting Sponsor: Series Sponsors: Event Sponsors: Washington Carver Scott Dakota Ramsey Hennepin Anoka Chisago Wright Sherburne Isanti

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Page 1: THE 2013 MSP Business Vitality Index · Comparing MSP to these nine regions does not always provide a fair and full picture of our strengths and weaknesses. The 2013 Business Vitality

�anks to our sponsors:

MinneapolisSaint Paul RegionThe Minneapolis Regional Chamber of Commerce identi�es the MSP region as eleven counties in the Twin Cities and two in Wisconsin. These counties make up our metropolitan statistical area and provide a standard geographic de�nition that is widely accepted throughout the nation.

Changes in MSP Competitiveness

Unemployment Rate (2011 - 2012) 0.8%

Per Capita Income (2010 - 2011) 4.6%

Gross Metropolitan Product (2009 - 2010) 4.1%

Average Travel Time to Work (2000 - 2011) 0.0%

Metro Transit Ridership (2010 - 2012) 0.2%

Average Wage Per Job (2010 - 2011) 2.5%

THE 2013 MSP

Business Vitality Index

PRESENTED BY

Sources:• American College Of Sports Medicine

• Bicycling Magazine

• The Business Journals

• Brookings Institute

• Brown University

• Bureau of Economic Analysis

• Bureau of Labor Statistics

• Central Connecticut State University

• Federal Housing and Finance Agency

• Forbes

• Human Rights Campaign

• Metro Monitor

• Metropolitan Council

• Moody's Analytics

• New Geography

• Policom

• Tax Foundation

• Travel + Leisure

• Urban Institute

• United States Census Bureau

• Walk Source

Presenting Sponsor:

Series Sponsors:

Event Sponsors:

Washington

Carver

Scott Dakota

RamseyHennepin

Anoka

Chisago

Wright

Sherburne

Isanti

Page 2: THE 2013 MSP Business Vitality Index · Comparing MSP to these nine regions does not always provide a fair and full picture of our strengths and weaknesses. The 2013 Business Vitality

MSP Rankings within Peer GroupA = 1 B= 2 - 3 C = 4 - 6 D = 7 - 8 F = 9

Indicator (Year Published) Overall Rank

Unemployment Rate (2012) 2/49Best Cities for Business (2012) 22/200Cost of Business (2012) 156/200Small Business Vitality Rankings (2012) 26/100Metro Job Recovery (Q4 2012) 34/100Per Capita Income (2011) 24/366Average Wage Per Job (2011) 21/366Gross Domestic Product (Q4 2012) 13/366Job Growth (Q4 2012) 34/65Economic Strength (2012) 57/366Gross Metro Product (Q4 2012) 81/100Change in Gross Metro Product (Q4 2012) 64/100State Business Tax Index (2013) 45/50

PeerGroupRank

IIndicator (Year Published) Overall Rank

American Fitness Index (2012) 1/50Perception of Cleanliness (2012) 1/35Perception of Safety (2012) 3/35Access to Parks and Outdoors (2012) 1/35Most Bikeable Cities 1/10Commuter Index (2013) 59/100Housing Prices (Q4 2012) 17/100Most Walkable Cities (2012) 9/50Public Transit Ranking 2/25Perception of Public Transportation Friendliness (2012) 10/35Perception of Diversity (2012) 25/35Change in Housing Price (Q4 2012) 31/100

PeerGroupRank

Indicator (Year Published) Overall Rank

Percent of Adults with High School Diplomas (2012) 1/50 Most Literate Cities in America 2012 3/100Percent of Adults with Bachelors’ Degree or Higher 28/100Racial and Ethnic Equity (Latinos and Caucasians) 75/100Racial and Ethnic Equity (African Americans to Caucasian) 99/100

PeerGroupRank

Seattle, WA

Portland,OR

Denver, CO Minneapolis Saint Paul, MN Boston, MA

San Diego, CAAustin, TX

Phoenix, AZ

Kansas City, KS

Atlanta, GA

FD

F

C

A

C

A

B

F

B

A

The mission of the MRCC is to create powerful partnerships to unite and grow member businesses and region. Our focus on a regional agenda sets us apart from other Chambers and local business associations. We believe stakeholders in our metropolitan area must collaborate to compete in the national and international marketplace; we continue to lead e�orts to accomplish this goal.

To achieve future success, the MRCC works with a number of partners across the metropolitan area. Collectively, we pursue an aggressive economic development agenda that focuses on business recruitment and retention supported by a quali�ed and diverse workforce.

The Minneapolis Regional and Saint Paul Area Chambers of Commerce s’ 12th Annual InterCity Leadership Visit is October 6-8, 2013 as we visit the Valley of the Sun – the Phoenix metropolitan area.

Some of the themes we’ll focus on include:• The role and leadership of Arizona State University in providing the workers that fuel Arizona’s economy • How the City of Phoenix has invested big and won in revitalizing its formerly moribund

downtown including a new bio-medical campus• How Phoenix has transformed from an auto-focused culture to a community increasingly

embracing and willing to pay for public transit

Leadership Twin Cities is a professional development program that informs people about the critical issues facing our community. Its focus is to inform and inspire future leaders – and challenge them to make a di�erence.

Participants in Leadership Twin Cities: • Get behind the scenes access to museums, hospitals and government agencies• Create new business connections from a cross-section of the community• Hear from renowned speakers such as mayors, police chiefs and CEOs

Since its inception over 30 years ago, nearly 2,000 people have participated in the program.

Applications for the 2013-2014 class electronically by midnight on Friday, June 28, 2013. www.minneapolischamber.org/leadership

Competitive Set The MSP Business Vitality Index compares the Minneapolis Saint Paul region to 9 other metropolitan areas. The regional centers in the comparative set are comparable to MinneapolisSaint Paul in population size, national competitiveness, business climate and quality of life. Comparisons to these peer regions help identify strengths in which to build on and challenges that require action.

Comparing MSP to these nine regions does not always provide a fair and full picture of our strengths and weaknesses. The 2013 Business Vitality Index now includes MSP’s overall ranking in each category based on the number of regions included in each index or study. Please note that that some studies may include comparisons to both large and smallcities/communities. Study, index and source information can be found atwww.minneapolischamber.org/2013bvi

Interpreting the Results This index compiles existing research and rankings from a variety of sources creating a framework to examine the region’s economic position against the 9 regions above.Minneapolis Saint Paul consistently excels in a number of key areas a�rming what we as residents and employers consider both valuable and essential to growth and regional excellence. However, the region also lags behind may of our competitors in rankings that a�ect our ability to attract companies to Minneapolis Saint Paul, support and develop our future workforce and recruit talent from across the country.

Letter grades have been assigned to the rank of MSP against the competitive set of nine to better understand the region’s position.

Please note that St. Louis, MO has been removed from this set and has been substituted with Kansas City, KS. Phoenix, AZ has also been included because it is the destination for the Chamber’s 2013 InterCity Leadership Visit in October.

Business Climate Growing jobs in the Minneapolis – Saint Paul region requires a strong business climate. MSP is home to a large number of Fortune 500 companies and has a low unemployment rate, but needs to �nd a means by which to attract and grow minority businesses.

Workforce Development Our region takes pride in maintaining a strong workforce. The region is consistently ranked at the very top for an intelligent, educated workforce. With a changing demographic and pending worker shortage, community leaders will need to make sure MSP is poised to attract and retain a highly skilled workforce.

Quality of Life Minneapolis Saint Paul is a great place to call home. The region has low crime rates, ample access to outdoor recreation and a variety of entertainment options.