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Agenda - Economic Development Authority - 06/09/2011
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Agenda - Economic Development Authority - 06/09/2011
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Agenda
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Economic Development Authority
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06/09/2011
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Workforce <br />• Minneapolis —St. Paul ranks first in the nation and third in the world <br />for human capital economic activity, according to the World Knowledge <br />Competitiveness Index 2008. <br />• Minneapolis —St. Paul is among America's Top Three Best Cheap Cities for <br />2009, according to Forbes, and has one of the highest rankings for cultural <br />activities. <br />• Minnesota is among the top 15 most productive states per capita. <br />Minnesota workers add more value to the products they produce than most <br />other states. <br />► 36 percent more than Michigan <br />► 23 percent more than Indiana <br />► 22 percent more than Ohio <br />► 17 percent more than Wisconsin <br />► 3 percent more than Illinois <br />• A worker in Minneapolis making $30,000 would need a comparable salary in <br />Chicago of $31,596: <br />► Housing will cost: 15% more <br />► Utilities will cost: 12% more <br />► Transportation will cost: 12% more <br />► Healthcare will cost: 3% more <br />• Currently, 92.3 percent of the labor force in the Ramsey, MN market area <br />is employed and 7.7 percent are unemployed. Over 10,000 workers <br />are employed in the manufacturing industry within a seven mile radius <br />surrounding the city. <br />Where Workers are Concentrated in the Minneapolis -St. Paul <br />Metro Area <br />The expansion is <br />fantastic. It has <br />made it easier to get <br />things done. Morale <br />went way up and my <br />stress level went way <br />down." <br />— Nordic Ware <br />No Data or Suppressed <br />0-775 <br />776-2,550 <br />2,551 — 5,700 <br />r •5,701 — 9,675 <br />9,676 —17,050 <br />17,051 —31,900 <br />• 31,901 —48,875 <br />48,876 —153,546 <br />With a strong work ethic and high labor force participation rate, your firm is <br />sure to find the quality workers it needs. 5 <br />
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