The contrast between Minnesota and Wisconsin couldn’t be more stark. But we were 1 recount and 9,000 votes away from facing the same horrible economic fate Wisconsin now faces. Thank God Tom Emmer lost.
But instead of tax breaks for the wealthy and gutting the economy as Wisconsin under Gov. Scott Walker has done, Gov. Mark Dayton stepped into the breach and prevented the stupidity from happening when the Republicans controlled both Houses of the legislature.
Now that we have the DFL controlling all three branches, I expect to see our economy continuing to improve.
Despite continual warnings from conservatives that Minnesota is becoming dangerously anti-business, reality won’t seem to listen. According to a new Bureau of Economic Analysis report, Minnesota’s economy was one of the nation’s fastest growing in 2012.
North Dakota is experiencing an oil boom. Sadly for them, they’ll crash once the oil runs out.
The continued growth in Minnesota is in large part to its diversified economic base. Real estate led the way, contributing about one-quarter of the state’s growth. Housing prices in the Twin Cities are finally rising after the recession, with prices in April 12% higher than the year before.
Durable goods manufacturing and finance & insurance also are reporting strong growth. Each of these has contributed about 18% of the total. Only a handful of industries did not grow. Mining, utilities, and educational services shrunk ever so slightly in 2012.