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State Resources


Minnesota Business Resources

From the time the first settlers arrived, Minnesota’s economy has historically relied on its abundance of natural resources. The agriculture industry continues that tradition today, especially through corn and dairy farming. Minnesota’s vast forests and mineral wealth provide substantial income to the state, and facilitate its manufacturing sector as well. Tourism is another beneficiary of the state’s natural attractions. Finance, health care and real estate are among the state’s fastest growing service sector industries.

One unique feature of the Minnesotan economy is prevalence of cooperatives, which are organizations that sponsor cooperative buying and selling. It has more consumer, producer, and business service cooperatives than any other state in the Union. Most cooperatives are in the agricultural sector. The largest producer cooperatives are creameries for marketing milk, butter, cheese, and other dairy products.

Business Data

Per Capita Real GDP$41,295 Rank: 10/50 (2006)
Population4,919,480 Rank: 21/50 (2000)
Per Capita Personal Income$38,712 Rank: 12/50 (2006)
Unemployment Rate4.50% Rank: 24/50 (2008)
Business Tax Climate IndexRank: 42/50 (2008)
Corporate Tax Rate9.8%
Individual Tax Rate 5.35% - 7.85%
Sales Tax Rate 6.5%

Business Tax Climate Index

Individual Income Tax Index Rank39
Sales Tax Index Rank40
Unemployment Insurance Tax Index Rank39
Property Tax Index Rank19
Business Tax Climate Index42
Corporate Tax Index Rank44

State Information

AbbreviationMN
CapitalSt. Paul
Nick NameNorth Star State
State Web Sitehttp://www.minnesota.gov
MottoThe star of the north

Top 5 Export Partner Countries

Canada, Ireland, Japan, China, Netherlands

Top 5 Export Merchandise

Machinery Sales Computers and Electronic Products Sales Computers and Electronic Products Manufacturing Machinery Manufacturing Primary Metals Manufacturing

Major Cities

Duluth, Minneapolis, St. Paul

GDP

Total Gross Domestic Product (USD Millions) $254,970.00 (2007)
Per Capita Real GDP (USD)$41,353.00 Rank: 10 (2007)

Population Stats

Population 5,220,393 Rank: 21 (2008)

Age Distribution

Under 18 Population1,286,890
Under 18 Percent of Total Population26%
65 and older Population594,266
65 and older Percent of Total Population12%

Gender Distribution

Male Population49.5%
Female Population50.5%
Non-English Speaker (at home)296,516
Net International Immigration70,800
Birth Rate13.8%
Percent of People Under Poverty Level9.2%
Rank46

Expenditure

Per Capita State Spending$28,934
Rank16
Energy Expenditures per Person$3,870
Expenditures of State and Local Government Employee-Retirement Systems$3,097,823

Revenue

Personal Income$28,527
Rank12
State Internal Revenue Collection$78,697,313
Rank10
Cash and Deposits by State Government$463,221
Per Capita State Tax Collection$3,376
Rank6

Education

High School Graduation Rate85.1%
Rank3
Percent of Population with a Bachelor's Degree20.9%
Rank4
Percent of Population with an Advanced Degree9.7%
Rank17

Largest Universities

Saint Cloud State University University of Minnesota, Twin Cities Minnesota State University, Mankato
High School Graduation Rate85.1%

Logistics

Public Road Length (Mile)132,309
Gas Tax Rate (%)20%
Highway Planning and Construction (USD Thousands)567,992
Number of Public Airports154

Main Airports

MSP: Minneapolis

Ports

Duluth-Superior Minneapolis Silver Bay St. Paul Taconite Two Harbors

Weather


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State Business Links

Star Tribune
http://www.startribune.com

Secretary of State

Minnesota Secretary of State
http://www.sos.state.mn.us/
Elections, open appointments, business services, direct access and public information, administrative rules, and Universal Commercial Code (UCC)

Small Business Administration

Minnesota Small Business Administration
http://www.sba.gov/localresources/district/mn/index.htm
Created in 1953, the U.S. Small Business Administration (SBA) is the only independent agency of the federal government with the sole mission of assisting small businesses to start, grow and prosper. Through our extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to even the most remote areas of the U.S. SBA is here to help you - the existing or prospective small business owner. Our commitment is to aid, counsel, assist and protect the interests of small business concerns; to preserve free competitive enterprise; and to maintain and strengthen the overall economy of our nation.

Top 10 Business Links

Export Minnesota
http://www.exportminnesota.com/
This site shows the user some information on exporting, with links provided to locate actual export services. There are also some international trade statistics for Minnesota manufactured products.
License Minnesota
http://www.state.mn.us/portal/mn/jsp/home.do?agency=LicenseMN
This site provides access to and/or information on over 500 licenses administered by state agencies. Find the professional, business, or vehicle licenses either through the regulated activity, the state agency involved, the name of the license, or a keyword search.
Minnesota Department of Employment and Economic Development
http://www.deed.state.mn.us/
This site offers labor market information, such as employment rates, wage or industry info, and trend data, as well as detailed information on beginning, growing, or managing a business, financing, finding workers, and more.
Minnesota Department of Labor and Industry
http://www.doli.state.mn.us/
On the Minnesota DOLI website, users can find information about construction codes and licensing, labor standards such as overtime, workers’ compensation rules and services, and more.
Minnesota District Export Council
http://www.exportassistance.com/index.php
The MNDEC is a non-profit organization providing export assistance not only to Minnesota but the United States at large. The site addresses many basic exporting questions, offers free counseling, a variety of export forms and tools, and some international market research resources. For Minnesota in particular, the site provides contacts to a number of different information sources not online.
Minnesota Free Trade Zone
http://www.mnftz.com/
This site explains what exactly a free trade zone is, what the benefits of operating in a free trade zone are, where in Minnesota these free trade zones are located, and how to become a part of one.
Minnesota Small Business Development Centers
http://www.mnsbdc.com/
The Minnesota SBDCs aim to help small business in Minnesota. They offer counseling services on all manner of business matters affecting forming or existing small businesses. Training workshops and seminars are offered as well. A detailed FAQ section provides immediate answers to some business questions.
Twin Cities Business Journal
http://twincities.bizjournals.com/twincities/
In this online edition of the Minneapolis St. Paul Business Journal, users can find a wealth of Minnesota-specific business articles, ranging from short updates to special reports. A business events calendar is also available.

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