MN Gov. Walz outlines 10 year economic plan

Minnesota State Capital
Minnesota State Capital(KTTC)
Published: Jul. 27, 2022 at 11:12 AM CDT
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ST. PAUL, Minn. (Valley News Live) - Governor Tim Walz announced today a ten-year economic expansion plan, created by The Governor’s Council on Economic Expansion. The 28-page report, titled “Minnesota’s Moment: A Roadmap for Economic Expansion,” offers long-term steps to continue improving Minnesota’s economy.

Governor Walz launched the fifteen-member Council of business, labor, and community leaders in September of 2021 to help advise Minnesota on the systemic change needed in the public, private, and nonprofit sectors that will achieve a more equitable, inclusive, sustainable, and resilient Minnesota economy.

The report makes dozens of recommendations that fall within five core “commitments” the Council believes are essential to economic growth in Minnesota:

  • Commit to our people, as Minnesota’s number one strength and the key to a prosperous future.
  • Commit to our communities, as the nexus point of growth and opportunity.
  • Commit to our businesses, as the engine that will write the next chapter of the global economy.
  • Commit to innovation, as the central dynamic needed to adapt to an ever-changing economic landscape.
  • Commit to infrastructure, as the foundation of all economic progress.

“We challenged a broad network of Minnesota leaders to look toward Minnesota’s future and find opportunities to make Minnesota a global destination to work, live, and own a business. The result – dozens of bold new ideas – will guide not only our Administration, but the state’s work for the decade to come. I’m grateful to our council members for their tireless work to create Minnesota’s roadmap for economic expansion.”

Governor Walz

The report details dozens of recommendations, ranging from ways to expand child care to support working families, collaborate with employers and labor organizations to prepare students for their careers, and expand public-private partnerships to provide support for small business owners. The comprehensive report covers recommendations from public safety, to infrastructure, to health care, to reducing barriers to job creation and innovation.

The Council had two main goals. First, the Council was asked to propose recommendations on how best to leverage American Rescue Plan funding to advance economic growth in the state. That first report helped shape the Governor’s strategy for the 2022 legislative session. econd, the Governor asked the Council to think longer-term and build a roadmap for Minnesota’s economic expansion in the coming decade.

Additional details about the Council, including the full recommendations report can be found on the Council’s section of the DEED website.

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